Dave Shaw, CEO of Ebiz (which owns LinuxMall.com), says that a
“dramatic drop” in the company’s stock prices from “intense selling
pressure” and unfavorable terms extended by the company’s creditors
have put the company in a critical position:
“…Simply put, more working capital needs to be
invested in the company immediately. Without additional working
capital the company is not viable as it is currently structured.I am working aggressively with our current investors including
those who have made previous commitments to provide capital but
have not provided such capital. Many of our vendors and customers
have been very understanding and willing to work with us through
the delays in filling orders that these circumstances have caused.
To all of these groups, we owe a great deal of thanks for their
patience.I hope to have a solution to this problem in the next seven to
ten days. As soon as we are able to resolve this situation I will
post another update to this site.”