EdisonReport has been hearing rumors regarding Lunera Lighting. Today we received a copy of the complaint from Jiaxing Super Lighting against Lunera Lighting. You can read the full complaint here.
According to the complaint:
- Lunera acknowledged its “poor on time payment,” and asked Super Lighting for its “support to maintain normal business operations at Lunera.” Lunera said the problem was temporary and expected to receive additional funding “in May, [or at the] latest June,” which would allow it to pay the delinquent amounts and move forward as contemplated by the Agreement.
- Lunera pleaded with Super Lighting to continue shipping new products while was paying off these past-due amounts, suggesting that if Super Lighting did not, Lunera would not be able to generate the revenues needed to pay off the debt.
- By the end of April, however, Lunera had already defaulted on its own proposed payment plan. On April 25th, Lunera advised that it needed another week to make the $200,000 payment, and was not even sure how much it could ultimately pay. Once again, Lunera threatened that it would be “shut down” if Super Lighting and Green Deal did not continue to ship product.
- As of the filing of this complaint, Lunera owes $9,658,766.43 to Super Lighting and Green Deal for outstanding past-due invoices. Lunera has also placed orders totaling an additional $337,110.00 that will be due.
Developing…