It is with great regret that I must inform you that V-Solutions LTD, the official company behind Vadim Computers, as from today, 07/07/08 has ceased trading and decided to go into voluntary liquidation. 
One of the reasons for this sudden action is the credit crunch that unfortunately hit the electronics and PC hardware industry hard. Below is a more in depth explanation of how it all happened.

For the past year, we have been working hard on an exclusive case design to launch this summer and expand our activities into the US and European market.

All had been finalised except money - our plan was to borrow from the bank. Unfortunately, the business plan put forward to the bank was rejected. The reason given was that if we stay small as we are, we have a better chance to survive the tough period everyone is experiencing. Alas, we did not foresee the possibility of any viable prospects emerging which were to offer a suitable return on investments to the shareholders and fair remuneration for employees, were we to stay small.

Following, the rejection, we have been actively seeking equity investment and recently there have been negotiations with a city based capital investment company to help us go forward with all our plans. The investors were very enthusiastic about the whole deal, even after the due diligence report it was verbally confirmed that the investors were willing to offer us more than we initially asked for and as such we started to plan for the following expansion:

• Multiplay lan party event.
• Planning to increase our marketing and PR activity.
• Launch of our new website
• Constructed the first hand made case prototype which we used in our Dream PC 2008 entry in Custom PC magazine, which has been already delivered.

Below is a photograph of our in house made prototype, modified and designed for our Dream PC 2008 competition entry. The whole team, including myself are very proud of this PC and I would just like to quickly divert your attention and describe the concept behind 'Ragnarok'. As you probably know, in Norse mythology, Ragnarok signifies the final battle before the end of the world and rebirth of the universe.

Our PC tries to symbolise that - the bottom ventilation grill has been artistically machine-cut to show Loki and Odin locked in combat - Blue vs. Red. The sun revealing the 3-loop, watercooling feast is again a balance of water and fire, as the mythology describes; during the early stages of the battle of Ragnarok, the world is submerged in water as a result of the constantly occurring natural disasters during the gods descent to earth. The colour is a pearlescent car quality paint job which we have labelled 'Chromatic Sand'. When the case is sitting in low-light, it gives the impression of a moonlit wasteland, but when exposed to bright light or direct sunlight, the case glows sandy brown, giving the impression that the case is a living landscape, caught in the throws of the battle of the gods.

Sadly however, the investment agreement was cancelled at the last minute by the venture company, due to their lack of knowledge in the Boutique PC market and the complex business model we present compared to other industries.

As a result, it was my duty as a director to analyse the new financial position and the possible ways out of the created cash flow deficit. As mentioned above, the business was slow for the past 4 months, thus the balance sheet became negative. Regretably, the current shareholders had no other means to further invest into the business and the only other solution forward was looking again for new investment. Seeking a new venture capital investment would put our creditors in a less reasonable prospect of being paid if another investment arrangement would fail.

Therefore, at the extraordinary shareholders meeting held today, 07/07/08 it was decided for V-Solutions LTD to cease trading and go into voluntary liquidation, as continuing trading would be against legislation.

Since the company was established in 2004, we achieved a great deal of success with practically no external investment. I started as a poor student at university in my final year with my £5000 limit credit card to achieve creating such a high profile business that many in the industry envied our success.

It was hard work – at times 16 hours a day, 7 days a week. Occasionally even sleeping in the office and through this, we had our PCs reviewed in magazines like Custom PC, PC Pro, PCW, PC Format, PC Gamer, PC Plus; online review websites such as trusted-reviews, bit-tech and hexus looked at our machines and all have been impressed with the attention to detail and the extra mile we went to differentiate ourselves from the competition. As has been referred to many times – we were in a league of our own, setting the bar so high, that not many competitors could keep up. It is a pleasure to see that our systems are the inspiration of modders and overclockers around the world on many forums. We were blessed to take part in the highly acclaimed Custom PC Dream PC competition for the past 3 years, winning the award in 2006 against Scan Computers, Voodoo PC and Quiet PC. This year’s entry - Ragnarok, although impossible to determine what the results would have been, i was so impressed by our team creativity. I only can say with confidence – it was our best PC ever, next to Nighshade. I am extremely proud of our team’s talent and creativity and i would like to apologise for letting them down now, when we were so close to the success. We did enjoy the highs and lows and the whole trip was a truly unforgettable experience and no matter what happens, I wish everyone success in their careers. 

Currently, we are open to offers for the sale of the brand and the team is awaiting to be invited to do what they love to do – be the best in the industry! I will be moving into a different market sector, but would be more than happy to assist with my expertise and suggest best ways forward to the interested buyer.

In mean time, BN Jackson Norton, insolvency practitioners have been appointed as the company liquidators. Not all the current orders could be completed unfortunately and as such, the liquidators will deal with such customers direct.

Depending on the interest of the buying company, which i hope will happen, it would be decided on the ways forward to honour the warranties, however, please note that our PCs also carry vendor’s warranties which in many cases are lifetime or longer than the life cycle of a PC. The website will stay live and i will update this page if there are any recommendations to make in regards to the warranties. The forum unfortunately will be locked for the time being and only the blue room will be open for a further few days.

As many have known us as the makers of Blastflow waterblocks, this is to confirm that Blastflow brand and operations are not affected by the liquidation of V-Solutions LTD. Just last night, Jeffrey Lee – one of our avid Vadim supporters reviewed the Blastflow GTX280 waterblocks, overclocking the GPU to 725Mhz and still keeping the load temperatures lower than the stock cooling on idle. Currently we are negotiating the teaming with another experienced cooling solutions manufacturer that potentially will result in even higher quality, higher availability, improved infrastructure and lower price of the modular VGA waterblocks. I will still be involved in the promotion and design consulting of further products, so all our customers that have watercooling in their machines would be able to upgrade their machines with minimal effort.

I will be updating this page with further information over the next week and will try to answer any emails sent to Vadim at Vadim.co.uk.
Once again, I am sorry to bring the news and let everyone down.
Regards,

Vadim Chobanu
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Update 08/07/08:
- All the orders that could be built and shipped, have been built to the best of our abilities and dispatched yesterday. in scenarios where we did not have some components in stock, we have provided alternatives.
- All the current systems we had in for repairs, have been shipped back to their respective owners irrelevant of the actual repair status - if any further work needs to be carried out, I would expect that a local specialist to be able to do that or as mentioned above, I will be making a recommendation in due course.
- For any urgent replacement components due to faults occuring, please contact the component manufacturers direct.

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Update 09/07/08:
- All emails sent to vadim at vadim.co.uk have been replied to and any outstanding issues are being dealt with. Please note that I am to reply to all enquiries within 48 hours.
- Please do not contact our liquidators with technical issues as they are not a computer consultancy.

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Update 28/07/08:
- As from today, after the creditors meeting, V-Solutions LTD is officially in liquidation. Please contact Rachael Knight at BN Jackson Norton, London Office in regards to any financial claims : http://www.bnjacksonnorton.com/bn_locations.asp
- Unfortunatelly, there isnt yet anything to announce in regards to the Vadim brand and if such is to happen, this page will be updated.
- I will still answer emails sent to vadim at vadim .co.uk and try to help as much as i can in giving directions, however please note that i can not help with 'please fix my pc' questions, sorry. I will post an update very soon  as to who i recommend to approach for technical support.