TrackingPoint, a really promising company that has a technology considered by many to be a game changer in precision shooting, has put out an advisory that the company is not taking orders. The company has mentioned financial difficulties,  laying off staff, and according to those who have been following the company's progress, is about to shut down.

TrackingPoint owns the XactSystem that is the heart of the Precision-Guided Firearm (PGF) that even a novice will be able to hit targets with dangerous precision even with just a few instructions. The system  allows the shooter to tag a target then align the reticle to the tag when a pip shows up (just like the pip of a jet fighter); from there the shooter just needs to squeeze and hold the trigger. The XactSystem does the rest --- it won't fire the rifle until the crosshair and the pip aligns, and bam! Right on target.

Depending on the sources, the company has laid off a big portion of its staff with just a skeletal crew remaining for day-to-day operations. According to a report from the TruthAboutGuns, the restructuring happened in February 2015 and that ten weeks forward, the owner of Tracking Point, John McHale, "pulled the four month CEO Frank Bruno’s name tag off the door walked in and shut the door."

The company is expected to file for Chapter 11 Bankruptcy which will enable the company to avoid paying creditors and holding off investors who have poured millions of dollars in the company, believing in the technology that the company has developed.

Many are actually surprised by this development since the company released information that "year-on-year unit growth was 281% and year on year bookings dollars grew 107%," according to the press release posted at the Outdoor Hub.

The hardware or the PGFs can be easily sold off if a liquidation sale takes place but what other individuals or companies would be interested in will be the crown jewels --- the XactSystem. If the Pentagon would be interested in the technology that can be worked on by its various research centers such as DARPA to improve it, then it can easily buy this with the money that is just a drop in the bucket of its over half a trillion dollar annual budget. The U.S. Army actually expressed interest in using the PGFs for training use in January 2015.

According to The Verge, McHale has been in disputes with the gun design with the CEOs and top management, the company has cycled through several CEOs already.

For now, we await further news from the company on the cause of its financial problems and how it would be go about resolving them.