Not surprisingly, the plug was pulled on the campaign after raising only $200 amid accusations that the whole thing was a scam, something that John L profusely denies.
The acquisition campaign was started because the campaigner disagreed with the direction that Gibson owner Henry Juszkiewicz was taking it in. If you were at the last NAMM show, it was pretty obvious that the company is moving away from being a traditional instrument manufacturer and more a lifestyle products company.
It's not known how Mr L came to value the company at $22 mil, or even if Juszkiewicz would even consider selling the company at all, let alone for that amount.
Of course, when you don't give donors critical information like who the new management might be, and a roadmap for the future should the acquisition actually occur, people get suspicious.
Here's what's left of the campaign.
Don't forget to check out my Music 3.0 blog for tips and tricks on navigating social media and the new music business.