The Lightwave Blog

Posted by Stephen Hardy

Gemfire CEO Rick Tompane reports that his company is back up and running. With the Thanksgiving holiday this week, he plans to bring "the people associated with the fab and equipment" back first. That's likely good news for the folks in Livingston, Scotland.

Tompane credits cooperation from his customers, who have either accelerated payment terms or increased their orders. Despite discussing the possibility earlier (see post below), Tompane says his customer did not participate in a bridge loan.

"The bridge was an advance on the financing to fund additional growth since we had doubled our revenue last year and planned to double again this year," he explained i an email. "In this market, both additional financing and growth is uncertain so we have shifted out some new programs and focused on current customers who have been kind enough to increase orders and accelerate payments so that we can keep going."

Labels: Gemfire