BlueScout Technologies has announced a reduction in headcount of 9 employees resulting in the reduction of normal day-to-day operations to conserve cash.
To date, even though the company has not paid out any damages relative to legal disputes, the increasing cost of defending against multiple legal actions by the former founder/CEO and his wife, Phil and Alisa Rogers, and their company Optical Air Data Systems LLC (OADS) has severely impacted the cash flow and operations of the Company. BlueScout's viability and ability to continue as a going concern is dependent on securing additional capital. BlueScout continues to actively seek to raise additional capital through debt, equity or other capital raising efforts while also considering other strategic alternatives.
To date, even though the company has not paid out any damages relative to legal disputes, the increasing cost of defending against multiple legal actions by the former founder/CEO and his wife, Phil and Alisa Rogers, and their company Optical Air Data Systems LLC (OADS) has severely impacted the cash flow and operations of the Company. BlueScout's viability and ability to continue as a going concern is dependent on securing additional capital. BlueScout continues to actively seek to raise additional capital through debt, equity or other capital raising efforts while also considering other strategic alternatives.
