Applied-Magic

Applied Magic was originally founded in San Diego on the old Commodore computer being used for RGB based, broadcast level editing in conjunction with another group out of Perth, Australia. It never was capable of doing that despite being sold on an 100% money-back guarantee. I worked there for about one year as SVP of Marketing and Advertising, resigning the day I was told by the VP of Engineering that the master PC board for the unit was incapable of doing what they guaranteed it would do and could not be redesigned to make it do it.
At that point the owner had acquired a private Belize investor and had "absorbed" his funding and was going day to day, selling by not delivering, units to the tune of $30K each. He leveraged those monies from the sales by not paying his suppliers to continue "the sting," and I had even unknowingly managed to arrange a sale to the National Broadcasting of Communist China, CCTV (now CTGN), which also was cancelled when I resigned.
Multiple law suits were filed and the IP rights were quickly bought by a South Korean broadcast investor and renamed the company to "Applied Magic." The remainder of the company was bankrupted immediately.