NovelEnglishChapter 337
The frown on Maja’s face deepened. The document only mentioned a $500 million deal with the
Pennyfeather family’s company but didn’t specify the deal.
She was instantly on edge. What kind of deal involved such a massive amount of cash flow?
The last time the Pennyfeather family’s company was raising funds, the Raymond Corporation didn’t
even invest up to $500 million. But the investment in this deal exceeded that amount.
Maja’s heart started racing, and she could no longer keep her cool.
She rang up Samuel. Samuel had just acquired Silver Carnes‘ company, so he would have more
insight into ByteWise Technologies.
Samuel was in a meeting when he received her call, idly twirling a pen between his fingers.
“Maja, what’s up?”
“Mr. Brown, I just wanted to know what project ByteWise Technologies has proposed.”
Samuel reclined slightly, chuckling.
“Oh? The Pennyfeather family is working with ByteWise Technologies?”
“It seems so. My father is still in the hospital, and the agreement was signed by his assistant, who must
Follow on NovᴇlEnglish.nᴇthave had access to my father’s seal.”
Samuel’s eyes narrowed slightly. “ByteWise Technologies had previously approached the Raymond
Corporation, but as far as I know, they were turned down. ByteWise Technologies has business model
that exploits contractual loopholes to force small and medium–sized companies into bankruptcy.
Despite their talented staff and extensive connections, and even making the Forbes list, their business
practices aren’t widely accepted. Ian has been in Silicon Valley long enough to see through ByteWise
Technologies‘ business model.”
Maja’s heart pounded faster.
“How do they force these companies into bankruptcy?”
Knowing she was in a hurry, Samuel spelled it out for her.
“The Pennyfeather family sells paint, but the price of paint fluctuates, tied to the price of other raw
materials. It could vary by as much as 20% within a year. ByteWise Technologies excels at persuading
these companies to sign agreements to purchase their paint at a fixed price over the next few months.
For example, $30 per barrel. If, three months later, the market price of paint falls below this price, you’d
pocket the difference. Sounds good, right?”
Maja nodded; that seemed right.
“But the contracts they sign are usually huge, often more than the company can handle. They might
place an order for $100 million. worth of paint, but even if you go all out, you can’t fulfill that quantity.
Then you’d be in breach of contract and have to compensate them $200 million. Most companies
would force their employees to work overtime to meet this target, but ByteWise Technologies has some
of the best experts. Any project they sign up for would be impossible to complete, even if you did your
best. In the end, you would be left compensating them.”
After explaining, Samuel asked casually, “How much did your company sign for?”
“$500 million.”
Samuel’s face turned serious. With a smile, he said, “From what I understand, the Pennyfeather
family’s second round of financing didn’t even reach that amount. Did lan recently block all your
business, leading to massive losses for the company, thus forcing you to take a gamble?”
Samuel’s words reflected the thoughts of the board members.
They understood that a $500 million order was no small matter for the company. It was equivalent to
two years‘ worth of production, and needed to be completed in six months. Practically impossible.
But with the Raymond Group driving away all their clients, they hadn’t had any business for half a year,
and everyone was getting antsy.
Follow on Novᴇl-Onlinᴇ.cᴏmByteWise Technologies‘ contract came at just the right time.
Having the factory employees work hard was better than having everyone sitting idle and the company
potentially going bankrupt.
Plus, with Cristina backing Carter, the contract was approved.
But Maja didn’t know the details yet. Now, all she understood was one thing: The Pennyfeather family
was in big trouble.
One false step and the Pennyfeather family would go bankrupt.
She remembered lan’s words: the bankruptcy of the Pennyfeather family was none of his concern.
Maja’s eyes flickered, and she finally calmed down after she hung up the phone.
Being anxious now wouldn’t help. She had no say in the board’s decisions. All she could do was hope
for Neil to wake up soon. Meanwhile, lan was sitting in the Raymond Group’s office. Outside the
window was the bustling cityscape.
Jeff walked in with some documents and couldn’t help but comment,
“Mr. Raymond, I heard ByteWise Technologies is now working with the Pennyfeather family.”
lan didn’t even blink.
Jeff continued, “$500 million. That’s two years‘ worth of orders for the Pennyfeather family’s company.
They have to fulfill it within six months, or they’ll face compensation. The Pennyfeather family might go
bankrupt.”
lan looked up and put down his pen.
“Don’t you have anything better to do?”
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