DMG Case Studies

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DMG Case Study — Jetstream Communications Inc.

 
Industry: Manufacturing; Technology; Media
Business Description: Developed and manufactured broadband access products for next generation local telecommunications networks. This technology was termed VOIP – Voice Over IP.
business problem: Faced with dwindling cash, DMG was retained to manage and market the company for sale, while keeping the technological brain-trust intact.
DMG Focus: Diablo Management Group (DMG) was retained to serve in the roles of CEO and Director. Key technological personnel were identified and retained in order to operate and market the company and its assets.
Results:
  • Assets were sold to Paradyne
  • Cash distribution was made to the general unsecured creditors of approximately 25 cents on the dollar
  • International subsidiaries in Korea, Canada and Germany were fully dissolved successfully and without incident
  • All employee details including final tax filings, W2s, 1099s, and the 401(k) shutdown were expertly handled
  • The orderly liquidations and wind-down of Jetstream
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