Yesterday 3DPrint.com published a sensational article, in which its author – Michael Molitch-Hou disclosed that the famous Zortrax’s contract with a computer giant – DELL has never been realised. We contacted a PR agency of the company to comment on the situation. Today we have been answered. Zortrax conforms officially, that it has made negotiations with the Asian branch of DELL, but finally the deal hasn’t been realised!
Zortrax says, that the reasons why the contract hasn’t been realised are: “external factors, independent from the both parties” and it can’t disclose more details, because of the confidentiality clause. It additionally claims, that all of the potential investors were informed about the situation connected with the contract and none of the interested in purchasing of obligations/actions/shares was mislead.
We are presenting the whole declaration below:
Declaration of Zortrax SA according to the article published on 3DPrint.com
Zortrax SA wants to comment on statements from the article entitled: „Poland’s 3D Printing Scene Was Built Upon a Huge Deal That Never Happened”, written by Michael Molitch-Hou, published on 2nd August on 3DPrint.com.
Since 2011, Zortrax has focused efforts on providing the highest quality products and services in the field of 3D printing technology. This effort has been validated by, among other things, numerous honours and awards, and constant company growth creating new jobs, and the further development of innovative products and services.
In late 2013 and early 2014, prior to the commercial launch of our debut 3D printer, strong interest in the product provided a good outlook for our entry into the 3D printing sector. A potential contract with the Asian division of Dell, noted in the article, was communicated through various marketing channels, due to a mutual good faith effort to complete the deal. Due to confidentiality of the agreement, we are not able to reveal additional details of the contract, other than to say that it could not be completed on mutually acceptable terms and conditions by both parties.
We want to clearly communicate that information related to this opportunity was, and has been clearly communicated to prospective investors. As the article noted, Zortrax discontinued communication efforts regarding the potential contract in our marketing communications, addresses to the market, and conversations with investors due to its unsuccessful conclusion.
Because of external factors, independent from the both parties the contract could not have been realised according to the assumed conditions. Attempts of renegotiation of the conditions were not satisfactory for the both parties and finally the deal was terminated by agreement of the both parties. Because of the confidentially clause we can not disclose more details.
We would like to note that financial numbers quoted in the article do clearly indicate the usage of real numbers. Potential profits from unrealized contracts are not reported and were not formally included for the basis of establishing the valuation of the company.
Zortrax has become a leader in its area, offering reliable and effective solutions for 3D printing, which quality was positively verified by the market. We worked out a strategy of a balanced development, based on innovation and conscious, transparent business decisions.
Has Zortrax ever lied about the DELL deal? Or just has mislead or manipulated someone? That is how the situation looks like:
- Zortrax signed the contract with DELL Asia,
- it hasn’t realised it and the deal was terminated with agreement of the both parties,
- it has not informed about it, except from the small group of potential investors,
- instead of several publications in media, questions asked in interviews, it hasn’t officially denied that and commented on it, that it has realised the deal,
- it has let people believe in it.
Did it lie?
- Zortrax claimed that it realised the contract with DELL Asia – TRUE
- it hasn’t realised it – TRUE
- it has stopped to announce it – TRUE
- all of the international and Polish media informed about it, like it was truth – TRUE
- Zortrax denies it (until today) – TRUE
Truth vs lie
Obviously, everybody has a right to have his own opinion about it. Everybody can feel like that. Everybody can also read and interpret it like he wants. Everybody knows what seems to be true for him.