InPhase out of business, assets seized for back taxes

It’s been something like five years that we’ve been eagerly waiting for InPhase to finally release that revolutionary holographic storage solution, and while there has been plenty of drama in the way of release dates promised and pushed back, and even some layoffs to keep things interesting, the company has been pretty, pretty quiet lately. As it turns out, this has been due to the fact that employees have been busy enough updating their resumes. “We were expecting it for a long time,” said one employee, among the sixty or so who picked up their final paychecks last week. “So it wasn’t a big surprise.” To put a finer point on things, it’s been announced that the Colorado Department of Revenue has seized the company’s assets for non-payment of taxes. According to The Register, the state has changed the locks and announced that everything on the premises will be auctioned off, down to the fixtures and furniture. This is certainly an ignominious end to a once great idea, but as you know every cloud has a silver lining: If you’re looking to get into the holographic storage business, drop us a line. We’ve heard that some equipment is becoming available soon — and at a great price.

InPhase out of business, assets seized for back taxes originally appeared on Engadget on Mon, 08 Feb 2010 10:36:00 EST. Please see our terms for use of feeds.

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