After months of controversy, Andy Rubin, one of Silicon Valley’s most highly-profile entrepreneurs, found himself at the center of a string of scandals and scrutiny in the past year.

After founding the company Essential in 2017, word quickly spread that Rubin was using his company as a front to test new technologies. He also attracted numerous lawsuits against his company, Essential Labs, over allegations of copyright infringement, patent violations, theft of trade secrets, blackmail and more.

But things don’t look good for Essential now.

According to Business Insider, on the same day the news broke that it will be shutting down, news broke that Rubin took a $50 million loss on Essential’s first round of funding.

The story in Business Insider isn’t encouraging, as it was picked up by The Verge.

“For $700 million — almost five times the company’s valuation, on which it made a promise it couldn’t keep — he promised to make a phone, a tablet, and a computer that each would have a screen as big as two-and-a-half sheets of paper. In a world where none of the three products have shipped or become profitable, the promise proved to be yet another awful adventure that just wasn’t worth it.”

Singer-songwriter Kevin Vidal tweeted an image he found of the $49 Essential Memo, which is essentially a tiny smartphone with half-a-inch-long (4.3 cm) display, and Rubin’s plans of course ended up as hopeless fantasy.

“For $700 million — almost five times the company’s valuation, on which it made a promise it couldn’t keep — he promised to make a phone, a tablet, and a computer that each would have a screen as big as two-and-a-half sheets of paper. In a world where none of the three products have shipped or become profitable, the promise proved to be yet another awful adventure that just wasn’t worth it.”

More news broke that Andy Rubin, the inventor of the Android mobile OS, was being investigated by the Securities and Exchange Commission regarding Essential. According to Bloomberg, the SEC is investigating whether Essential made false statements to investors about the financial health of the company, thus deceiving the market.

“Both Rizvi Traverse and Wellcome Trust are now preparing to remove the money from Andy Rubin’s company. They once again help prove that Rubin cannot function as a leader or manager without deep pockets.”

Further down the timeline, the Engadget reports that a jury could issue a $35 million judgment against Essential in the case of Stephen Ritz, who filed a lawsuit against Essential in August 2018, for “attempted interference with contract, extortion, and fraud.”

The complaint has been dismissed, but instead Essential has paid Ritz’s lawyers $5 million, and a jury trial will eventually be held.