Poynt Files for Bankruptcy
Poynt Corporation today filed for bankruptcy and insolvency protection with the Court of Queen's Bench of Alberta, Canada. In a statement posted to its web site, Poynt explained, "The Company is not currently in a position to meet the obligations owing to its secured and unsecured creditors and as such, has taken this action under the BIA as the most expeditious and economical manner of addressing the interests of its creditors and allowing it to carry on its operations." Poynt will seek ways to reimburse its creditors while under bankruptcy protection. Poynt provided location-based smartphone applications to devices running the Android, iOS, Windows Phone, and BlackBerry platforms.
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