“There is a good reason for that silence over the last five months: the company is, for the time being, effectively out of money. ‘The situation that we’re at right now is that things are turned down to sort of a hibernation mode,’ Carmack said Thursday evening at the QuakeCon gaming conference in Dallas. ‘If we don’t wind up landing an investor, it’ll probably stay in hibernation until there’s another liquidity event where I’m comfortable throwing another million dollars a year into things,’ he said. Funding Armadillo, he said, has ‘always been a negotiation with my wife,’ he said, setting aside some ‘crazy money’ to spend on it.”
http://www.newspacejournal.com/2013/08/01/carmack-armadillo-aerospace-in-hibernation-mode/
