Whats going on with Omatic Snowboards?

One of my local shop buddies told me that Todd got swindled out of some cash and now he can't keep on producing boards. He said that it may just go under, or it could be bought out by some big company and become a brand the likes of Lamar, Avalanche, Sims, etc. Either way they won't be making boards, or at least now as good as they were.