I dont know any facts about it, I just know my observations. They opened at the end of the high season, sometime in April I think. On Caye Caulker they seemed very disorganized, they didnt have a sign for their building for at least 6 weeks or their departure times posted, so unless you were a local and knew where to buy a ticket, they lost the tourists business. They had a couple of boats that started out with them, but dropped out quickly and either went to the CC water taxi association, or went back to whatever they were doing, so there weree gaps in their service. I would try to alternate using their service with the CC water taxi association, but then with the schedule changes, their times weren't convenient. They needed to be working with the taxi drivers at the airport and the bus station, and it seemed like an afterthought to them, too little too late. Its sad to see a new business fail like that. Its all about management and marketing, seems like they put the cart before the horse. They may have closed for other reasons completely different than what I've mentioned, who knows.