Music Ally

More doubt has been cast on Global Gaming Factory X’s chances of completing its purchase of The Pirate Bay this week as planned – by its proposed technology partner Peerialism, which it’s also due to buy.

CEO Johan Ljungberg says that last week’s shareholders meeting “gave us no direct answer at all, but based on declarations by GGF before and after the meeting, and the reporting that has taken place in recent days, we conclude that GGF will not succeed in obtaining any financing.”

He also points out that GGF’s caim that it will use its own shares as collateral for the financing will run into trouble, because trading in them is currently suspended on the Swedish Aktietorget exchange. Meanwhile, Swedish media are reporting that Global Gaming Factory X boss Hans Pandeya has had his motorbike and car seized by bailiffs, as part of his personal tax debt. Not the best start to the week, it’s fair to say.

It’s not looking promising for Global Gaming Factory’s planned relaunch of The Pirate Bay as a legal music service. When it announced the planned acquisition, GGF said it was also buying a company called Peerialism, whose technology would be used for the new Pirate Bay’s distributed file storage plans.

Except now Peerialism CEO Johan Ljungberg has cast doubt on the whole operation, in an interview with CNET. Why? Because he claims GGF hasn’t paid him the agreed amount for the necessary preparations to have the technology in place for launch. “That was two months ago but he hasn’t paid anything,” Ljungberg says.

“We have his signature on the contract, but he hasn’t paid and we haven’t done the work… From the beginning we asked to see a business plan, the names of his investors, or to see some (technical specifications). We still haven’t heard a thing…the question marks are growing bigger by the day. We’re not quite comfortable with the situation. We had really high hopes and ambitions for our technology but I’m not sure if this is the right home for it.”

Add this to the pile of unanswered questions and concerns surrounding GGF’s plans…