When is a LTD not a LTD?

Received an email today telling me that I'm being shut out of all future updates. What a scam!

Here is the relevant info from the email:

"As a SaaS, we had our ups and downs and hit a wall last year.

We made the tough decision to restart Breakcold from scratch: new product, new codebase, new database, new everything to try to make it in this crazy CRM market.

This new product, labeled V2 for simplicity, will not be granted to LTDs...

If you want to migrate your data and subscribe to the new Breakcold product, please note that we're still finishing the migration system this week as the new product is not officially launched yet (more on it soon)."