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    • CommentAuthorMrRusty
    • CommentTimeJul 10th 2016
     
    Headline comes from article by Barry J Whyte in Sunday Business Post published in Dublin.
    Precis : Investors told to stump up more cash or face wind-up.
    Orbo products withdrawn. Killian McGrath becomes chief executive. Sean McCarthy becomes operations officer. James Meenan to liaise with investors. " A large proportion of the shipped products didn't work."
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      CommentAuthorSwissie
    • CommentTimeJul 10th 2016 edited
     
    A large proportion? None of them worked! After half a year, there are still no positive Ocube reviews on Facebook, Twitter or Youtube. Not 100, not 50, not a single one. For me, that's proof enough that none of the products worked as advertised.

    So it looks like it's all over for Steorn.

    The online article is premium content. Can someone with access quote the full article?

    http://www.businesspost.ie/free-energy-company-steorn-to-tap-up-investors-again/
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      CommentAuthorAngus
    • CommentTimeJul 10th 2016 edited
     
    Congratulations and welcome MrRusty, member since 2009, on making your first post.
    • CommentAuthorthehard
    • CommentTimeJul 10th 2016
     
    Apparently it's easier to find a replacement for Shaun McCarthy than to 3d print a replacement for the motor.
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      CommentAuthorSwissie
    • CommentTimeJul 10th 2016 edited
     
    Filament is too expensive for Steorn, they are broke. I expect them to declare bankruptcy SooN. But what about the refunds and the warranty for all the non-working products? They probably don't give a shit. As always.

    Shaun's 10-year long fight "CEO vs COE" is over, he has lost his CEO position.
    • CommentAuthorLakes
    • CommentTimeJul 10th 2016
     
    Maybe the investor(s) will decide to invest in more SooN.
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      CommentAuthorSwissie
    • CommentTimeJul 10th 2016 edited
     
    In the earlier years, $teorn investors have invested because they saw a company with a "promising" technology.

    But today, it's a completely different ballgame:
    Their technology HAS been launched, their products DIDN'T work -- nobody is going to invest in such a company... Say what? A time-splitting device with two hidden 9 volt batteries and a monkey face? Completely ridiculous. Any investor with half a brain would go WHAT THE FUCK?
    Bankruptcy is next.

    NewsPooper must be crying. LOL.

    I wonder if the Chinese manufacturer has been fully paid. Probably not. And I guess Steorn faces a lawsuit for selling Samsung phones under their own brand.

    The Sunday Business Post article says that the Orbo products have been withdrawn, but orbo.com still shows them. The paper also says that Shaun is no longer CEO, but his FB page still says CEO. As usual, Steorn's communication is either bizarre or non-existent. One would think that they would publish an announcement, but they don't.
  1.  
    Bunch of tossers.
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      CommentAuthormaryyugo
    • CommentTimeJul 10th 2016 edited
     
    The link shows a photo of Sean working on the newest invention from Steorn. Automatic beer brewer working on free energy. Saves the middle man-- it is connected directly from the vat to the toilet. Safer for the liver too. Ogirl will test it.

    http://www.businesspost.ie/free-energy-company-steorn-to-tap-up-investors-again/
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      CommentAuthormaryyugo
    • CommentTimeJul 10th 2016 edited
     
    Posted By: SwissieShaun's 10-year long fight "CEO vs COE" is over, he has lost his CEO position.
    I bet he still has some money. I doubt he pissed it all away literally.

    Posted By: AngusCongratulations and welcome MrRusty, member since 2009, on making your first post.
    Ha! That must be a lurking record for the Trap.
    • CommentAuthorAsterix
    • CommentTimeJul 10th 2016 edited
     
    Meh, musical chairs at Steorn. Need money for more beer.

    You have to admit that none of this speaks well for the state of Irish science education.
  2.  
    Posted By: SwissieBut what about the refunds and the warranty for all the non-working products?


    Depends on how many were actually shipped. I only know of the one to Frank Ackland. Newsy never said whether he got anything nor did anyone else that I am aware of. Soooo, not much to refund.
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      CommentAuthorSwissie
    • CommentTimeJul 10th 2016 edited
     
    You forgot the lady who works at a law firm and posted on Steorn's FB page that her Orbo doesn't work. And the guy on ECW who wrote that he got a refund. I'm pretty sure there are a few more.

    Newsy never received anything. If he had, he would have immediately posted it on his crappy web sites and here.
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      CommentAuthorDuracell
    • CommentTimeJul 10th 2016 edited
     
    Posted By: AsterixMeh, musical chairs at Steorn. Need money for more beer.

    You have to admit that none of this speaks well for the state of Irish science education.


    Why? Because some investors didn't carry out the necessary due dilligence before investing their money in Steorn? Or because a financial correspondent for the Business Post doesn't seem to be either willing to write about or to fully appreciate the ludicrous nature of Steorn's pseudoscientific claims?

    Shaun was born, raised and educated in the UK IIRC.

    It seems to me that Pat Corbett was the main individual involved in convincing the rest of the investors to invest in Steorn and that they took his advice without carrying out adequate due dilligence because he had previously advised them to invest in some highly lucrative high risk ventures that had paid off.

    I don't see how any of this is very representative of "the state of Irish science education". Having said that though, it does seem to me that curricula in general are being dumbed down nowadays, but isn't that just how every generation seems to feel about the education of subsequent generations? Also, I wouldn't say Ireland is significantly better or worse in this regard than say the UK or the US.
  3.  
    Posted By: SwissieNewsy never received anything. If he had, he would have immediately posted it on his sites and here.
    Oh poor Slimey
  4.  
    I have the highest regard for Irish scientists and engineers. The best engineer I ever knew (over 45 years) was Irish
    • CommentAuthorAsterix
    • CommentTimeJul 10th 2016 edited
     
    Posted By: DuracellWhy? Because some investors didn't carry out the necessary due dilligence before investing their money in Steorn? Or because a financial correspondent for the Business Post doesn't seem to be either willing to write about or to fully appreciate the ludicrous nature of Steorn's pseudoscientific claims?

    Shaun was born, raised and educated in the UK IIRC.


    So? He could be educated in Switzerland or Tunisia, for all it matters. That he could swindle a bunch of largely Irish folk out of their hard-earned funds without any member of the Irish press sounding the alarm does not speak well of the general level of Irish education.

    FWIW, the US suffers the same malaise, in spite of the very fine higher education afforded the very few. I suspect that Canada is not far behind. Judging from the Rosch debacle over in Germany and Austria, continental Europe isn't immune to this blight either.

    "There's a hell of a distance between wise-cracking and wit. Wit has truth in it; wise-cracking is simply calisthenics with words."
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      CommentAuthorAngus
    • CommentTimeJul 10th 2016
     
    • CommentAuthorAsterix
    • CommentTimeJul 10th 2016 edited
     
    Posted By: AngusStill - as they say: "You can lead a horticulture but you can't make her think"


    Another great Parkerism--and one that embodies the principle of acquiring knowledge not being the same as learning to think.

    Thinking takes effort and dedication.
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      CommentAuthorDuracell
    • CommentTimeJul 10th 2016 edited
     
    Posted By: AsterixThat he could swindle a bunch of largelyIrishfolk out of their hard-earned funds without any member of theIrishpress sounding the alarm does not speak well of the general level of Irish education.


    I think you might be reading far too much into it.

    So a relatively small number of investors took Pat Corbett's advice without carrying out the necessary due dilligence because of his previously good track record with them on high risk high return ventures. So what? Seems unremarkable enough to me. It seems reasonable enough to assume that they had little, if any, serious scientific education or scientific qualifications. AFAIK Pat Corbett has none.

    As far as scams go, it was small time, only involved a small number of investors, relatively small amounts of money, and no sales to the general public (up until the most recent pathetic chapter of the story and even then the tiny number of sales and overall amount of money involved were inconsequential). It wouldn't have gotten any press coverage at all were it not for The Economist ad, which is a UK based financial publication, so therefore follow up coverage tended to focus on the story from the financial rather than the scientific angle.

    Their absurd claims were dismissed by any scientific institutions that were interviewed about them, but the story itself generated little interest and even less press coverage apart from the purely financial angle, which more or less completely ignored any questions as to feasibility of their ridiculous claims.