It is with heavy heart that we have made the decision to shut our doors.
While we can’t reveal many details of the cause, we can at least say that it has nothing to do with the business — which has been taking consistent strides forward to new heights — and everything to do with a recently-served legal case in Australia.
The estimated costs to challenge this case, and potentially proceed through the mediation process to reach a settlement is an eye-watering expense will see the business become insolvent, and ultimately force its closure. We have in good faith explored all possible avenues to resolve the issue outside of the legal system in good faith to this time.
While we have made our sincerest and best efforts to make Horizon State self-sustaining on client revenue (which has included great personal sacrifices operating on a very lean budget to achieve), we simply can’t absorb this expense being forced upon us at this time.
We are very proud of the work we have put in as a group over the last 24 months, and recognition it has earned, which makes it all the more heart-breaking that circumstances outside our control have forced our demise. This is one of the most difficult decisions we have had to make in our lives, but we simply have no options available to us to fight this further.
We would like to thank our amazing community who have supported and journeyed with us over the last two years. Without you, we could never have achieved the milestones that made Horizon State a technology pioneer, and put Australia and New Zealand on the map as destinations for blockchain innovation.
The Horizon State team.