Idolator

The saga of QTrax—the so-called legal peer-to-peer service that was set to launch Sunday night with a splashy £500,000 presentation at the MIDEM conference, only to have a lot of egg on its face when it was revealed that the company didn't actually have any signed agreements with the major labels whose wares it would be hocking—is dragging on, with CEO Allan Klepfisz spinning like mad, telling everyone that his company is "not idiots," and floating a few conspiracy theories:

"We are not idiots," he said."We wouldn't have launched the service in front of the whole music industry unless we had secured its backing. We feel we have been unfairly crucified because a competitor tried to damage us. Everyone is very upset."