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THE CASH CRUNCH CONTINUES During these difficult economic times, we have all heard repeatedly that 'cash is king' which
is especially true in the world of a technology start-up company. So in the last week of
April we felt like royalty — for at least a few minutes — as we had secured our C
Round funding partners and were ready to get back to our passion, developing
low cost 3D printing. Yes, along with Idealab, that pioneering incubator,
we had a French firm and an Irish firm with US representation who had committed
to finance Desktop Factory.There was another reason we felt regal which was equally important — and that was your outpouring of support for us during our financial crisis. We can not thank you enough for the hundreds of emails we received wishing us well, offering to help in some way and reminding us that those with the strongest will not only survive, but ultimately thrive. Well, we need your continued support again as just one day before the close, one of the partners backed out of their commitment to our deal. The reason, which had nothing to do with Desktop Factory, was constrained internal resources and their view that the economy continues to deteriorate. Needless to say we were stunned by this reversal and have spent the past month looking at other alternatives and partners to help us finance the company. So to update you on our current situation, we have NOT been able to close our C Round of fundraising. We still have committed investors in the US with Idealab, and in Ireland and the US with SOSventures. We will continue to work with these two very supportive partners in looking at all options to achieve our goal — an affordable and easy to use 3D printer AND a successful, sustainable company. Along with their financial backing we also share the vision that Desktop Factory needs to be a company that not only develops 3D printer technology but provides robust support while continuously improving our offerings. We all know that the landscape in this industry is littered with reminders of those who ran out of vital resources before achieving these goals.    
NEXT STEP  Our objective is to determine the best funding alternative for the company within the next 30 to 60 days.
We will continue to guard our remaining cash carefully and delay customer beta activities until we know our financial path forward.We thank you all again for your ongoing support and commitment. We are delighted with the addition of SOSventures to the Desktop Factory and Idealab team. They clearly see the future of affordable, accessible 3D printing and want to be part of it. Please let us know if you have questions or comments. We will keep you posted and continue to respond to your emails and calls within 24 hours.
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