Why would anyone sell a $21,217 claim for $16,327?

In June 2026 Delos AI Inc. purchased three unpaid invoices from a construction company for $16,327.49. Their nominal value (i.e. if we recover them) is $21,217.93. This means we bought them at 76.95% of their value.

This was our first transaction, but certainly not our last. In fact, we're planning to deploy $500,000 over the coming months to purchase more such receivables. If our thesis proves correct, we intend to spend many more millions—and eventually billions—acquiring unpaid business invoices from American companies.

The reason someone sold us those claims, and why we believe there are many more for us to buy, is simple: the value of a legal claim is not determined by what is legally owed. It is determined by what can be recovered economically. For many businesses, the time, cost, uncertainty and distraction of pursuing an unpaid invoice outweigh the difference between receiving cash today and waiting months—or years—for an uncertain outcome. That gap between legal value and economic value is precisely the market Delos is trying to change.

What did we purchase exactly?

We purchased the rights to three unpaid invoices together with the associated claims, liens, judgments and payment plans. In effect, we stepped into the legal position of the original creditor and are entitled to pursue recovery in our own name and retain any proceeds recovered.

Who did we purchase it from?

I'd like to say we purchased it from a 'regular American company.' The seller is a small construction business. This wasn't a financial institution selling a portfolio of receivables. It was a business representative of the millions of companies across America that face the same challenge every day: customers who simply don't pay.

Why did we do it?

Our motivation at Delos has always been the same: applying AI to build a viable solution for resolving legal disputes.

We believe legal disputes—regardless of their complexity—create disproportionate pain for businesses. A simple $2,000 dispute may take just as long and cost nearly as much as one worth $20,000 or $50,000.

As a result, many disputes never happen at all. Commercial obligations remain legally valid, but practically unenforceable. A business facing an unpaid invoice in 2026 usually has only three realistic options:

  • Hire a lawyer (expensive)
  • Hire a debt collection agency (less expensive, but still costly)
  • Pursue it themselves (cheaper, but time-consuming and stressful)

In reality, none of these options is particularly attractive for an ordinary business owner. A construction company wants to pour concrete, not hire lawyers. A software company wants to write code, not trace assets across state lines. Every hour spent recovering an old invoice is an hour not spent winning a new customer.

Our vision is that we can build a successful business by acquiring those claims directly. Not for pennies on the dollar, but at a legitimate price—one that can compete with the economic value of hiring a lawyer or pursuing the claim internally while providing immediate liquidity to the seller.

Aren't there already companies buying unpaid receivables? How is Delos different?

There are several important differences.

First, we're buying claims one at a time directly from ordinary businesses. Today, unpaid receivables are typically sold in bulk by large institutions—banks, lenders and other financial firms—with portfolios containing hundreds or thousands of claims. Regular American businesses generally have no access to that market. Delos is building a direct marketplace for individual commercial claims.

Second, conventional wisdom says distressed receivables trade for pennies on the dollar. We paid over 75% of face value. Our thesis is that if AI materially reduces the cost of recovery, those claims become economically worth more. We don't yet know how far that limit can be pushed, but finding that answer is one of the objectives of Delos.

Third, we focus on small claims. Every claim in this purchase was worth less than $10,000, and one was worth less than $5,000. As a rule, we're interested in claims below $20,000. Individually financed legal claims are usually much larger, and many law firms are reluctant to pursue claims below $50,000. Debt collection agencies will often consider them, but generally prioritize higher-value cases. As a result, low-value commercial claims have remarkably few buyers.

By combining these three ideas—buying individual claims, paying substantially more than the market typically pays, and focusing on lower-value disputes—we hope to create a genuine alternative to today's dispute resolution market.

Why were we able to pay 76.95% of face value?

The premise behind Delos is that the cost of recovering legal claims has historically been determined by human labor—primarily the labor of lawyers. Much of that work is required regardless of whether the claim is worth $5,000 or $500,000.

We believe AI changes that equation. If the cost of recovering a claim falls, then the economic value of that claim rises. That is the hypothesis we are now testing.

Is Delos regulated to do this?

Yes. At present, Delos is properly authorized to purchase and pursue qualifying claims in Texas and Georgia.

What will we do with these claims?

We intend to recover them using our technology stack and AI systems. Along the way, we also plan to publicly document what we're learning—without disclosing confidential or private information. Our goal is to demonstrate that AI can become a practical tool for enforcing legal rights and, more broadly, expanding access to justice.

Does Delos already have software for this?

Partially. Some parts of the system already exist, while others will be built alongside these early transactions. Over the coming weeks we'll be sharing more details about how the platform works and what we're learning.

Can I sell Delos my claim?

Yes. We're currently interested in unpaid commercial invoices from companies located in Texas and Georgia, generally below $20,000 in value. If you have a larger claim, feel free to reach out as well.