This morning, an all-hands meeting was called at 10 a.m. this morning where CEO Steve Perlman said that OnLive would be filing forABC bankruptcy for an alternative to bankruptcy called an Assignment for the Benefit of Creditors, or ABC, in the state of California—a status that affords financially troubled companies a level of protection from creditors. Perlman also said that the company as it stands now would cease to exist and that no one would be employed by OnLive. A subset of employees would be brought on to the company created from the remains of OnLive.

Our hardcore friends will be in a state of shock over the death of OnLive. Some of them even bought it (remember, they must have all the consoles). Let us grieve with them with a viewing of cheer:

Above: My hero. If I had to do life over, I would go around singing nonsense.

It is illustrating to see just who were the advocates of OnLive among game journalists and game analysts. I suspect most of these people were paid for their ‘advocating’. Michael Pachter seemed to be OnLive’s largest advocate.

So, gaming community, how about that Ouya? Bahahahahahahahaha!