The Faster Modem Corporation was founded by two engineers who
The Faster Modem Corporation was founded by two engineers who managed to capitalize their firm with $150,000. They were able to raise this money because their test model performed much faster than current modems on the market and they received an initial commitment from a national firm to market their modem. However, a national modem manufacturer beat them to the market, and they found that they had invested $150,000 in obsolete technology. They now find that they have no sales, $500 in cash, and a $2,000 payment due to their creditor on the first of next month. What are the owners' options?
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