Media World ASX announcement

Holy shizznit! This announcement to the ASX yesterday from Media World Chairman Michael Ramsden is pretty mind-boggling.

It basically states that during The Tolly Group's latest tests of the Adams Platform Technology (APT) :
1. the implementations for Windows and Linux were incomplete and couldn't perform
2. the Macintosh trials couldn't perform to the standard of their earlier tests
3. Adam Clark told the team he had written source code for a new APT codec using ResEdit. ResEdit, however, has no ability to write or compile source code.
4. the APT codec showed "exact characteristics of a commercially available encoder called On2_VP3".
5. Adam and his father Graeme have been asked to resign from the board of MWC and Adam's consulting arrangement with the company has been cancelled.

Let's all remember that Adam has apparently already received $16 million from the company over the last year.

Comments

So the morale of the story is that "snake oil" people still exist in the 21st century...as well as gullible people.

That's great news...society is showing great progress at snail pace (vive les escargots!!!).

[Phil Karn]

This will have been the third big-time fraud on this same exact theme of broadcast quality video over dialup phone lines.

Do google searches for "Pixelon" and "Madison Priest" to read about the first two.

People simply don't learn.

[Frank Arrigo]

now mr clarke has been sacked
http://www.smh.com.au/articles/2004/09/21/1095651285166.html

[Frank Arrigo]

Mr Clarke has now been sacked

http://www.smh.com.au/articles/2004/09/21/1095651285166.html