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The Essential Phone was a gadget that a startup called Essential debuted in 2017. It was praised for its design and long-term software support but got mixed reviews and didn't sell well. Many of Essential's former staff members banded together to launch a new company called OSOM Products when Essential closed its doors in early 2020. After two product releases, the business looks to be in disarray, as a former executive claims the founder has been squandering company funds to finance two Lamborghinis and his opulent lifestyle.
Jason Keats, the CEO of Osom Products, Inc., is accused of using corporate cash for lavish expenditures, including two Lamborghinis, according to a complaint brought against the company by Mary Stone Ross, the former chief privacy officer, according to Android Authority. According to the publication, Keats is also accused of using business funds to pay for expenses like his racing habit, his racing partner's wages, and his mortgage. Keats formed Osom after Essential closed and employed several of Essential's former employees. Ross reportedly requested that the court order Osom to provide her access to business documents supporting the lawsuit's allegations.
OSOM Products: Phones to compete with the top Android phones from Samsung and Google
More than three years have passed since OSOM Products Inc. introduced the Osom OV1, a smartphone created by the former Essential team following the company's closure. The OV1 was designed to compete directly with the top Android phones from Samsung and Google. It had a robust design with a Qualcomm processor, stainless steel, titanium, and Corning Victus glass. However, rather than grabbing attention for a brand-new offering, OSOM is currently in the news because of a lawsuit that one of its former executives filed.
OSOM Android phone history
When Essential collapsed in early 2020, some of its former workers banded together to launch OSOM. Ross joined the new firm in early 2021 as its chief privacy officer to spearhead the company's focus on developing solutions that prioritise privacy. OSOM released its first Android phone, the Saga, in 2022. Solana, a significant player in the blockchain space, supported the device. A year later, the business was discussing a sequel to the Saga with Solana Mobile and expanded its product lineup to include the OSOM Privacy Cable. The Solana Saga Two appears to be dead on arrival, and the smartphone project as a whole may be in trouble.
The CPO filed a complaint against the OSOM CEO, accusing them of using corporate cash for lavish expenditures.
The former CPO filed a complaint in Delaware's Court of Chancery on 30 August, requesting that the court order OSOM to produce its financial documents. This action aims to demonstrate that Keats mismanaged the business's finances. The lawsuit also claims that Keats utilised business cash to pay for personal expenses such as his mortgage, his racing partner's wages, and his racing hobby. The complaint further claims that these questionable financial activities may have been the reason behind the previous finance chief's resignation.
Are OSOM's resources currently depleted?
According to the lawsuit, Keats failed to transfer OSOM to HP. He allegedly focused his sights on an "AI-powered camera" idea after that failed. It is reported that OSOM's resources are currently depleted. Court filings suggest OSOM may be on the verge of financial disasters. A corporate spokesman dismissed the former employee's charges as "outlandish" and pledged to contest them in court, but the CEO remained silent.