RSS

Galnet News

Galactic News: Problems at MetaDrive?

Independent auditor BigSix has reported various anomalies in the accounts of MetaDrive Inc., a company based in the Chi Orionis system specialising in hyperdrive research.

Reviewing the company's financial records, assessors found evidence of a series of payments to undisclosed suppliers but none of the corresponding checks and balances.

"It's a big mess," said the senior auditor of BigSix. "The company is being placed in receivership. It needs a buyer, and quickly."

Femi Dakarai, the chairman of MetaDrive Inc., was not available for comment.

Following the news, shares in MetaDrive Inc. plummeted. But a short time later, Sirius Corp unexpectedly volunteered to prop up the company.

"We've been interested in collaboration for a while," said the marketing manager of Sirius Corp's hyperdrive research division, "and were in talks over licensing MetaDrive's exciting new technology. We have no desire to see them go under."


View on: