Australian tablet computer manufacturer Evolve III is under liquidation after retailer Seconds World Auburn pursued a wind-up order in the Supreme Court of NSW.
ASIC records have revealed that Sydney-based Evolve III ran into financial trouble after a US customer, Pretnke Romich Company, left it US$566,722 out of pocket.
"Customer terminated contract after manufacture of goods completed," read a report filed by the liquidator Ozem Kassem of Cor Cordis Chartered Accountants. "Customer over-ordered, despite purchase orders supplied to Evolve and instructions to manufacture."
PRC is an Ohio-headquartered company that provides "language and assistive technology products and services" to people with disabilities.
Evolve III's chief executive Ray Paola declined to comment. CRN also contacted Seconds World but did not receive a response at the time of writing.
The report stated that $52,059 was owing to unsecured creditors, including more than $20,000 to Evolve's US area vice president, Matt Rollins. The company also listed $222,045 as contingent liabilities, representing money owing to family members.
CRN understands the Evolve III business is still operating, but under a different legal entity named Evolve 3 Holdings. Evolve Pty Ltd is the entity now under liquidation. The company website is currently down and the Facebook page has not been updated since March.
Evolve III made headlines in 2011 and 2012 as a local pioneer in the latest wave of tablet computers, releasing a Windows 7 device to compete with the iPad. Ray Paola and chief technology officer Warrick Dainter told The Australian in January 2012 that the company had developed a skin over Windows 7 to give the units a more "Apple-Androidy feel".
"It's our 15th version. We're confident we've ironed out every single bug," Dainter said at the time.
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