State officials seize InPhase assets in lieu of taxes • The Register

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State officials seize InPhase assets in lieu of taxes

The lights are out - and for sale

By Chris Mellor • Get more from this author

Posted in Storage, 8th February 2010 09:57 GMT

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In a final emphatic demonstration that the money has run out, holographic storage developer InPhase's premises have been seized for non-payment of taxes by the Colorado Department of Revenue.

According to local reports, the state has changed the locks on the doors and announced that everything owned by InPhase, including furniture and fittings, would be sold at auction.

The 60 or so remaining staff were laid off last week, but the CEO and one of the company's investors were still hopeful of getting additional funding. This now looks distinctly unlikely.

Thanks to the Longmont Times for the information. ®

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