This information is fresh and very concerning (yet not surprising).
Let’s classify it as rumors. We have no confirmation whatsoever. Only fact so far, the latter has been sent to and officially filed by the bankruptcy court.
https://www.glassdoor.co.in/Reviews/Employee-Review-Inveniam-NY-E7639176-RVW103015848.htm
https://www.courtlistener.com/docket/73672591/38/storj-labs-inc/
Are you aware that you are quoting from a text written by the person who has been accused of ongoing fraud? If true what value does this have?
Inveniam is insolvent, Pat OMeara is committing fraud. The Corporate Viel will be pierced.
Inveniamis Insolvent
Pat Omeara is committing fraud
Employees have not been paid
Binding Contracts are in default
Assets used to back loans were sold without the debt holders knowledge
The board of directors is aware and personally liable
Several lawsuits are in discussions with management and Daniel Barron but have not yet filed in court
If Inveniam implodes, what will happen in week 13 (the week after the cash of the DIP financing is projected to run out)?
interesting, does Inveam really financed Storj or it it did only on paper, does any transaction was made? where this money gone?
Probably to the former owners of Storj.
Sooner or later this will turn into chapter 7.
It’s a blow.
And it’s a hit to credibility. If I were a client I’m not sure I’d be trusting my data to Storj as it seems more and more is unravelling.
That said, for me nothing changes: my nodes remain online, I have foregone any payment until the end of the year anyway, I am hoping there are still people working to make the company solvent.
We shall see.
For customers this could be the last call in my opinion. As a SNO I will keep my nodes online and watching the show.
Inveniam was in financial trouble before acquiring storj. My guess is they acquired it storj to access the treasury tokens to finance themselves and not storj.
Money does go to those that don’t know how to use it.
I’ll get my popcorn and watch the “pre-payments for the following months” end in 3 months time.
For wat money they acquired Storj then? If you buy something you need to pay something
But it doesn’t need to be money, maybe Inveniam shares… 
I think it was never really disclosed. But I would laugh so hard if the former Storj owners and maybe even management would be sitting on a pile of worthless Inveniam shares. 
after checking etherscan I changed my mind, it looks like storj was dumping a very large amounts of tokens right before it was bought.
also storj’s own reports disclose that some tokens was paid to employees as bonuses and as salary compensation. In q4 2024 it was 1.8 million STORJ.
it looks like storj management was treating the tokens as bonus pays to themselves regularly before they were bought.
Well if that’s the case then no wonder they didn’t want to get rid of the STORJ token…
Imagine management treating the tokens like an investment while telling us otherwise to avoid liability.
if Storj’s former management improperly transferred Storj owned tokens or money to themselves, the Chapter 11 estate could potentially try to recover it but it’s going to be a challenge if they got some newbie lawyer.
Honestly this would be worth investigating; if old management took a ton of bonus, dumped the treasury for financial gains and left the company in financial stress, it’s worth trying to claw back that money via chap 11.
Chappter 11 means Inveniam is no longer in control of storj. Hopefully we can find an investor that wants to buy the company from the judge. My understanding is it would be dept free at this point. We just need to find a solution moving forward.
Starting to see the picture now.
If former management profited from selling down Storj’s tokens, and Inveniam then used the remaining treasury to cover its own obligations before putting Storj into Chapter 11, did you effectively save Inveniam and insiders at the expense of Storj as a company, it’s employees, and its token holders?
I think there was more people, fired before file capter 11.
IMHO those are employees in the US, foreign remote workers not included.
