'Grossly Inaccurate Financial' Reporting

RECEIVED Mon., March 3, 2014

Dear Editor,
    We couldn't help but notice the grossly inaccurate financial figures along with the inaccurate timeline in your "Flipnotics Closing" story [Earache, Feb. 24]. The figures were laughable at best. The Kamburis brothers sold Flipnotics in April, 2009. The corporation which held this interest later filed for bankruptcy months later, after the sale of Flipnotics. The figures are again not indicative at all to the interest of Flipnotics, especially the Barton Springs Flipnotics. The reason the corporation filed bankruptcy had to do with the fiasco known as the Flipnotics Triangle location, wherein the landlords sued us for the remaining balance of the lease. In doing that, we had no choice but to file bankruptcy, again after we sold Flipnotics Barton Springs, months later. The figures are also, as said, completely inaccurate and a misrepresentation of the Kamburis brothers and Flipnotics in past, present, and future. So your attempt to discredit Flipnotics is disheartening and insulting. If you want accurate figures and exact info, probably best you contact those who were actually involved. This is yellow journalism at its worst, guys. On another note, with the final closing of Flipnotics, it is a sad day for the Kamburis brothers, many past employees, and all the fans and customers, past and present. It would have been nice with Flipnotics' rich history of almost 22 years to get your facts straight, especially after, during the Kamburis reign, we advertised in your paper weekly for 17 years and spent over $250,000 to my estimation. And I did check my math.
    To all those customers, musicians, and Austinites, we thank you for your unreal support over the last few decades!
Mark Kamburis
AC Daily, Events and Promotions, Luvdoc Answers

Breaking news, recommended events, and more

Official Chronicle events, promotions, and giveaways

Updates for SXSW 2017

All questions answered (satisfaction not guaranteed)