Gareth Corfield of The Register published an “investigation” into the Vega+ crowdfunding campaign

Last Thursday, on March 16th, Gareth Corfield of The Register published an “investigation” (sic) into the Vega+ crowdfunding campaign. No surprise that we were forced to fact check this alleged investigation. The article was poorly researched as there were many documented facts the 'journalist' failed to mention:

“Andrews and Smith resigned from RCL in April. Both kept their shareholdings in the business (of 25 per cent each) and Smith retained the intellectual property in the Vega and Vega+ firmware. He offered it to RCL for £20k but the company refused to pay, so he withdrew the offer. A couple of months later, RCL paid him £10,000, claiming that this was enough to cover it, but the company had already started trying to find the alternative firmware. Smith's consistent position has been that the £10,000 was effectively paid to him without his asking for the money. The Register understands that the £10k was eventually counted towards paying off other debts RCL owed to Smith.”

To dissect that particular paragraph line by line:

1. “Andrews and Smith resigned from RCL in April.”. Correct.

2. “Both kept their shareholdings in the business (of 25 per cent each)”. Correct.

3. “…and Smith retained the intellectual property in the Vega and Vega+ firmware.” Incorrect. Andrews publicly stated that the shares were “worthless” then launched a HC injunction to stop RCL removing his shares. Confused? More on that later.

4. “He offered it to RCL for £20k but the company refused to pay, so he withdrew the offer.” We paid - and THEN he demanded 10k. Mr Smith had already paid himself. But for the avoidance of doubt we paid him AN ADDITIONAL 10k, and advised his lawyer of the payment. He withdrew that portion of the demand.

5. How did he ‘offer’ the IP for the Vega+? Is there evidence of this that RCL don’t have?

6. “but the company had already started trying to find alternative firmware.” As ANY responsible business would in that same position.

8. .”Smith's consistent position has been that the £10,000 was effectively paid to him without his asking for the money.” That’s correct. Smith didn't ask, he demanded £10k. See attached statutory demand dated 9.6.16: “1.1 in Respect of the Balance of the purchase price of the intellectual Property Rights of the Vega Games Console, which sum was due and payable during December 2014.” And RCL paid it.

9. The Register understands that the £10k was eventually counted towards paying off other debts RCL owed to Smith.” So demand 10k for 1.1 in Respect of the Balance of the purchase price of the intellectual Property Rights of the Vega Games Console, which sum was due and payable during December 2014.”

In summary (and all our statements are supported by legal documentation), RCL paid OVER and ABOVE an agreed price for the Vega IP. Mr Smith kept the money - then failed to pass on the code.

We also must draw attention to the earlier prototype videos of the Vega+. You will note that they carry the clearly worded © Retro Computers Limited 2016. These were created by Mr Smith, he's made this assertion in a number of public places - even creating an online photo album in his capacity as Technical Director. We have NOT used the code from these items as Mr Smith also deprived RCL of this asset.

For those of you not interested in what has been going on behind the scenes and only wanting to have your Vega+, we are on your side, we want the same and would rather not have to continually defend our company against a core group of individuals who seem determined to ruin both our product and our reputation. That will not happen. Our sole mission is a happy backer – so with that in mind, your support means more than you know.

We ARE sending your Vega+ and we will get through this battlefield of falsehoods, unpleasantness and online bullying. You know the old saying ‘sticks and stones’ – well, be assured, we’re putting all our energy into completing our Vega+ mission and honouring our backers. But sometimes, as with this post, we do feel it necessary to make a statement publicly.

Thank you for your patience and understanding.

Contact Us

Retro Computers Ltd
34 Courthope Road
London
London
NW3 2LD
Company Registration Number 08831435 Registered in England & Wales

Form