Lineo Goes To the Block

The Canopy Group and Egan-Managed Capital, two of Lineo’s many investors, have been running a “notice of public sale” in a local Utah paper since April 8 apparently. It recalls the sheriff hammering a foreclosure sign on an Oklahoma farm with the butt-end of his gun during the dust storms of the Great Depression. As previously reported, Lineo has run out of money to the point of bouncing paychecks and having at least one of its offices padlocked by the landlord for want of the rent. Lineo has a pretty lustrous retinue of backers and burned through at least $65 million, maybe $20 million or $30 million more than that. It’s reportedly never been profitable.” Read the rest of the report at LinuxGram.


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