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What good can come about it? Not only is it in contravention of the rules of the thread which implicitly state posts regarding messengers and their messages are strictly prohibited but it is the same hypocritical vitriol that seems to spew from the cult members small-minded attitude about once every month. Frankly it is so pathetic as to be amusing; individuals attempting to push their notion of how the thread should flow at the same time breaching the structural spirit of terms of service.
Accepting reality as it were, the "bashers" and shorts have been dead-on regarding this obvious pump and dump scheme. If anyone's voice is deserving of marginalization or carefully kept in check it is the voice of the pollyannaish cult; the cabal which endeavors to employ discussion threads such as this one as a means to manage shareholder sentiment (quite possibly to reduce competition for the bid as they divest clandestinely themselves) and better - attract new blood.
By: Tinroad
25 Mar 2001, 11:44 AM EST Msg. 647351 of 1119481
(This msg. is a reply to 563391 by RamTeacher.)
RamTeacher, as a believer in the long term potential of eDigital, I really don't care what the immediate short term stock price is or will be. This is a young, highly talented group of world class engineers, led by some of the most competent people in the industry. Sure, things haven't happened on the timetable we would like to have seen, and most likely never will. Just buy all you can afford and don't listen to those that would have you take a wait and see attitude. eDigital's stock price will respond to upcoming PR's. That's a given. However, I look foward to the time when it's share price begins to reflect the investor confidence that will come only from the revenues and profits which will begin later this year and will continue for many years to come. eDigital is the real deal.
PPS $19.312
By: DABOSS $$$$$
25 Jan 2000, 01:10 PM EST Msg. 171889 of 984651
19.312...YOU'VE HAD A BUYING OPPORTUNITY
ALL MORNING !!!
AND YOU ARE HERE !!!
PPS $16.125
By: DABOSS $$$$$
08 Feb 2000, 11:04 AM EST Msg. 206409 of 989449
SUPPLY/DEMAND...AND THE DEMAND WILL ONLY INCREASE WITH WHAT'S IN EDIG'S FUTURE...
STAY FOCUSED !!!
PATENTS, PARTNERS, and GLOBAL MARKETS !!!
AND YOU ARE HERE !!!!
PPS $14.906
By: DABOSS $$$$$
10 Feb 2000, 06:04 PM EST Msg. 209766 of 989449
BASHERS ARE IMPOTENT ON THE EDIG THREAD...
so much crap this last year and all EDIG does is hit HIGHER HIGHS with HIGHER LOWS.
Don't fight the trend.
Interest only increases as more evidence surfaces that EDIG is moving forward towards very lucrative times.
Direct news of EDIG and any one of its partners moving forward with their business plans causes the stock to gap up on tremendous volume.
AND YOU ARE HERE !!!
PPS $11.375
By: DABOSS $$$$$
28 Mar 2000, 10:00 AM EST Msg. 259185 of 989436
EDIG LESSON #1: DON'T BE OUT WHEN NEWS BREAKS...
EDIG GAPPED OPEN FROM ITS NEW HIGH OF 17 TO OPEN UP 7 POINTS HIGHER TO 24...that was only in JANUARY !
News of any deal with industry giants like INTEL, LUCENT, IBM or announcements of contracts with OEMs like Panasonic or Rio, will drive this stock.
You have to be IN and positioned with ENOUGH TO COUNT !
You also have a new board member to be announced and the quickly approaching NASDAQ listing weeks away...a new webpage, which will be ever so enlightening, and analysts currently looking at EDIG, evaluating the potential of these vast markets.
And the probability of an equity partner is very real.
THE RECENT LACK OF NEWS ONLY WILL MAKE THE IMPACT OF THE NEXT ROUND OF NEWS THAT MUCH MORE DRAMATIC !!!
There is NO LACK of INVESTMENT CAPITAL waiting in the wings.
STAY FOCUSED on the PATENTS, PARTNERS, & GLOBAL MARKETS !!!
AND YOU ARE HERE !!!
PPS $8.83
By: DABOSS $$$$$
21 Apr 2000, 05:23 PM EDT Msg. 284603 of 989434
SIGNIFICANT NEWS NEXT WEEK--BUY OR HOLD, BUT WHATEVER YOU DO, don't sell.
EDIG's product pipeline is filling and we will see evidence of this next week as Lanier will begin to distribute the Cquence Mobile product.
They have indicated that a press release will be issued next week, the week of April 24th.
There is a concerted effort on this thread, however feeble, to seperate you from your shares. I realize that a large stake in EDIG is held in long hands, but for those who may be new to EDIG, stay FOCUSED, as there is more to come.
PPS $6.87
By: DABOSS $$$$$
24 May 2000, 09:47 AM EDT Msg. 324869 of 989446
nicehit:
I know what you mean, however, a year or two is not a long time to hold an investment that is "truly an investment" and not just a "play".
EDIG is well ahead of where it was last year and I suspect next year we will be able to say the same thing.
Everything management said was happening in this industry is falling into place and is as large or larger than I believe most imagined just one year ago.
EDIG's entrance into the portable music player industry with LUCENT just a little over a year ago was way ahead of the curve, and although this industry has yet to explode(due to the content issue), it involves more global companies than we first thought, and EDIG seems to be an integral part of the whole thing.
As the music side of the business is about to explode and should take center stage this summer, we can LOOK to the EDIG/INTEL relationship to drive this company next.
These are exciting times and require VISION and patience. All those who exercised those two disciplines last year are in great shape, and all those who do so now will be in great shape next year, as long as management continues to forge business relationships with all the right players, for these markets will grow exponentially.
AND YOU ARE HERE !!!
PPS $5.062
By: DABOSS $$$$$
27 Jul 2000, 10:05 AM EDT Msg. 401178 of 989452
April '99 to January '00 was a nine month wait
to move from one high to the next. During the wait, many did not exercise the patience needed to allow their investment to mature...and MANY DID !!!
It has been 6 months since EDIG hit its late January highs.
And there has yet to be major news out, although it is pending.
I suggest you Stay the Course !
AND YOU ARE HERE !!!
PPS $4.50
By: DABOSS $$$$$
02 Sep 2000, 01:39 AM EDT Msg. 452052 of 989455
JimC1997: sad zack reads from a script...
bash and dash. He supposedly has a strict investment model that limits the downside, but the reality is that it has kept him from realizing the true upside here.
He is so short sighted that he missed both major rallies last year, and, even in light of endless evidence that EDIG's business plan is moving forward, he continues on his path of endless bashing. He does not realize that one year after he recommended a sell at $1.20, we are at $4.50 and climbing.
While he bashes and tries to squeeze a nickle out of this sideways market, the true longs have been adding when appropriate. But that is the curse of the daytrader.
I personally have bought in the 3's and 4's, as early as the last 15 minutes of the close today.
This is a bargain in single digits.
The short sighted perspective misses what is transpiring with this new economy.
We are witnessing a Paradigm shift in technology, due to the digitization of content, and EDIG IS THERE !
Some still don't realize this.
AND YOU ARE HERE !!!
PPS $3.562
By: DABOSS $$$$$
17 Oct 2000, 09:54 AM EDT Msg. 498859 of 989462
(This msg. is a reply to 498819 by youout.)
hype or vision ??? I have seen the future...
You have seen the same, but remain clueless, blinded by the poor timing on your purchase. (which will very likely prove to be a profitable position--and probably a long term capital gain)
Now, what will you do from here, wait to try and break even, and then when you do see the momentum move, buy in at those higher levels as you see EDIG climbing, or establish a new position down here, BEFORE THE FACT ?
This is low...BUY LOW, and maybe you won't be so tired.
What motivated you to buy this company in the first place ?
Are those scenarios still intact ? Are the markets for this field growing and about to decend upon us this holiday season.
Has management not stated news before, during and after the November 9th annual meeting ? Is the company not on more solid financial ground than when you bought ?
If these scenarios no longer hold, then I would leave...but you know better...that is why you are still here.
PPS $2.90
By: DABOSS $$$$$
30 Oct 2000, 10:12 AM EST Msg. 512899 of 989458
Come on MMs...is that the best you can do
on all this aweful news of the CEO establishing his largest position ever in the stock, and three billion dollar OEMs about ready to release news, and a $4 million equity placement finalized just last month...
I would have thought there were more suckers than that.
Who got the great execution at $2.25 ?
PPS $0.425
By: DABOSS $$$$$
08 Jun 2002, 10:13 AM EDT Msg. 986869 of 988173
(This msg. is a reply to 986861 by isoldat77.)
isoldat77--where have you been ? Trading, as in day trading ? Nope. When you BUY LOW in size and have the patience to let the investment mature, you don't have to day trade and sweat out the short term...just be patient while the investment/company continues to mature and buy when you can...especially near the 52 week lows.
Bought a nice big chunk just yesterday, as a matter of fact.
At $.395 you can own a lot of this for a song...if it drops in the short term, I will add more, because this company continues to move forward in spite of market conditions.
PPS will shift again, be certain of that. While the moron patrol trades amongst themselves for that big penny and a half swing trade, I keep adding. I like this company and its long term possibilities. I understand the risk/reward ratio and see EDIG as a nasdaq listed company down the road.
PPS $0.38
By: DABOSS $$$$$
11 Jun 2002, 03:43 PM EDT Msg. 988161 of 988173
Oh no, down a whopping 3.5 cents-COMPUSA,Circuit City, The Good Guys, DGN, B&O, DivX, Fujitsu must all be frightfully concerned...
Sell LOW is the basher's motto...sorry, added more today.
PPS $0.29
By: DABOSS $$$$$
14 Oct 2002, 01:35 PM EDT Msg. 1059173 of 1059216
let's see, 369K shares at .29 = $107,000--Ooooooooo, time to panic ...yeah, right before management will address what it has projected to be a turn around year...and it announces plans for the Odyssey 1000.
PPS $0.285
By: DABOSS $$$$$
18 Oct 2002, 08:28 PM EDT Msg. 1061839 of 1061847
(This msg. is a reply to 1061828 by idigedig.)
idigedig,
The question today is, does one invest in a PPS or a company ?
Management is continuing to build a company.
PPS is depressed because we are in a bear market. There are more products today than ever before, and new markets and partners beyond what we knew of last year, as well as a management team focused on getting the job done.
If you invest only in PPS, then NOW would seem a logical time to enter...at the LOWS, before news from the SHM.
If you invest in a company, then NOW would be a logical time, as EDIG is in THE QUARTER from which it will generate record revenues and launch its Odyssey 1000 product line, which is not currently reflected in the PPS due to the overriding bear market.
For future reference purposes.
Note that e.Digital in fact did exceed their publicly stated revenue guidance (revenue guidance the only financial guidance forthcoming from the subject company) issued January 16th, 2003.
This updated guidance provided herein, in direct violation of Regulation Fair Disclosure, was not disseminated in a public communique but selectively to individual private investors.
http://www.agoracom.com/nonmemforum/msgreview.asp?id=237900&refid=0&orig=237900
Subject: VoiceNav
From sunpoop
PostID 237900 On Wednesday, February 12, 2003 (EST) at 3:48:21 PM
I sent Robert and email regarding concerns I have noted here and elsewhere about the ''glitches'' with VoicNav, especially the one from the ''revue'' just posted from Shoshana. He called me on the phone within 10 minutes.
(An aside: Anyone who is interested: Robert Putnam takes his job seriously. He has told me that ANYONE who wants to talk about EDig, he will talk to. Just call or email him, he WILL call you back)
He told me this problem has come up in the recent past and with EVERY, THAT'S EVERY call back to determine exactly what was wrong it turned out to be operator error, or failure to follow instructions, or not knowing exactly how to use O1K.
He mentioned that the engineers loaded the O1K and worked it to its max and had NO PROBLEMS with it. The Voicennav worked perfectly. He has a call into Shoshanna as we speak to find out what her problem was and hopefully to correct it and get her to redo that part of her revue which he said was very positive.
The 10Q will be out by Friday: Will be BETTER, that's BETTER than reported and an announcement next week about another Webcast will be made..
DW is having very good success with it version and is in a similar circumstance as EDig regarding its units out for revue....Positive revues....
More was discussed but I was so unprepared for his call that I failed to take notes.
Frank
(UPDATE)
This is still a work in progress so please excuse any incompleteness.
EDIG 10K filed 19960628
Part I, Item 1, History, Paragraph 3
On January 15, 1993, the Company sold 300,000 common shares of JABRA stock for $750,000, and JABRA sold 500,000 newly issued common shares with warrants for $1.25 million. The Company retained 2,300,000 common shares or 74.2% of JABRA stock and the Company agreed to surrender operating control of JABRA pursuant to the stock sale agreement[REF A]. On July 15, 1993, the Company sold an additional 500,000 common shares for $1.625 million and JABRA sold 1,000,000 newly issued common shares for $3.25 million. The Company’s 1,800,000 common shares represented 42.8% of the outstanding shares of JABRA and as a result of the lack of operating control, the Company ceased consolidating JABRA’s operations and recorded its investment on the cost basis because it no longer had significant influence over the operations of JABRA. At March 31, 1996, the Company had a zero cost basis in its 1,800,000 JABRA common shares[REF B]. During fiscal 1995 and 1996, JABRA reported to the Company the sale of 1,154,671 newly issued common shares for proceeds of $4.0 million. As a result of these transactions, the Company’s ownership in JABRA at March 31, 1996, represented by 1,800,000 common shares, is 23.1% (or 20.1% on a fully diluted basis). The Company has granted an option to purchase 300,000 of the JABRA common shares to CVD Financial Corporation (“CVD”)[REF C].
Notes:
1. Implied value is derived from dividing the value received for the sale of JABRA stock by the number of shares sold by EDIG/JABRA. Example: sold 300,000 common shares of JABRA stock for
$750,000 ($750,000 / 300,000 shares = $2.50 per share multiplied by the total JABRA shares outstanding, pertaining to this example, 3,100,000 = an implied value of $7,775,000).
2. e.Digital agrees to surrender operating control of JABRA.
3. Per the filing, JABRA shares outstanding increase by 1,000,000 to 4,100,000. JABRA shares held by EDIG decreases by 500,000 to 1,800,000. 1,800,000 divided by 4,100,000 equals a controlling percentage of 43.9%. The filing cites the controlling percentage to be 42.8%. In order to reconcile between EDIG’s percentage of ownership and total shares held relative to outstanding shares, JABRA’s shares outstanding must be increased by 105,607 to 4,205,607 (1,800,000 / 4,205,607 = 42.8%).
4. e.Digital ceases consolidating JABRA’s operations and records the JABRA investment at a cost basis of zero because “it no longer had significant influence over the operations of JABRA.”
5 & 6. Per the filing, JABRA shares outstanding increase by 1,154,671 to 5,360,278. JABRA shares held by EDIG remain at 1,800,000. 1,800,000 divided by 5,360,278 equals a controlling percentage of 33.6%. The filing cites the controlling percentage to be 23.1%. In order to reconcile between EDIG’s percentage of ownership and total shares held relative to outstanding shares, JABRA’s shares outstanding must be increased by 2,431,929 to 7,792,207 (1,800,000 / 7,792,207 = 23.1%).
7. The same calculations as notes 5 & 6 on a fully-diluted basis.
EDIG 10K filed 19970626
Part I, Item 1, History, 2nd paragraph from the bottom, INVESTMENT IN JABRA
Between January 15, 1993 and March 31, 1996 the Company sold an aggregate of 800,000 common shares of JABRA stock for $2,375,000 and owned 1,800,000 JABRA shares with a zero cost basis. On or about December 31, 1996 and January 2, 1997, the Company sold an additional 859,266 common shares of JABRA stock for $276,300. As a result of these transactions, the Company's ownership in JABRA at March 31, 1997, represented by 940,734 common shares, was 12.1%. Accordingly, the
Company exercises no control over the shares of JABRA. [REF D] JABRA is a private company engaged in developing, manufacturing and marketing cellular, desktop, mobile and wireless communications products. JABRA's principal technology is the patented "all-in-the-ear" EarPHONE technology originally conceived and developed by the Company when JABRA was a wholly owned subsidiary. As a minority shareholder in JABRA, which has reported operating losses since its inception, there can be no assurance as to when or if the Company's remaining shares can
produce any financial return to the Company. The Company's investment in JABRA shares is carried on its balance sheet at a cost of nil. CVD Financial Corporation has an option (until July 31, 1997) to purchase 300,000 of the Company's JABRA shares at a price of $1.50 per share granted in connection with a prior loan financing.
8. Per the filing, EDIG sells 859,266 shares of JABRA and retains 940,734 shares representing a controlling interest of 12.1%. This figures indicate the JABRA shares outstanding are 7,774,661 (940,734 / .121 = 7,774,661) and creates a discrepancy with our previous calculations of JABRA shares outstanding, on both the undiluted and fully-diluted basis. Clearly e.Digital has made a reporting error on either one or more of “items” labeled x,y and z. The current inferred JABRA float (z) correlates best to the JABRA float calculated in item x.
9. Per the filing, EDIG sells 859,266 shares of JABRA raising proceeds of $276,300. JABRA’s implied value has dropped to $0.32 ($276,300 / 859,266 shares = $0.32 per share) or a total implied value of $2,499,969 based on the JABRA shares outstanding calculated using the data in this filing (item z). This is the lowest implied value on record and a 90% drop from the implied value calculated in item x and a 92% drop from the implied value calculated in item z. This significant drop in implied value has occurred over a one year period.
EDIG S3 filed 19980220
The Company, 2nd Paragraph from the Bottom
The Company also holds as an investment 62,000 common shares (less than 5%) of JABRA. JABRA is a former wholly-owned subsidiary of which control was sold in 1993.[REF E] JABRA is a developer and manufacturer of communication products for desktop, mobile and wireless applications.
11. Per the filing, e.Digital’s controlling percentage of e.Digital has dropped to less than 5%, or 62,000 shares, equating to a maximum possible number of JABRA shares outstanding of no more than 1,200,000. Over the course of eight months, between filing dates of the SEC documents referenced, e.Digital’s percentage of ownership in JABRA has dropped from 12.1% to “less than 5%”. This drop in ownership is not accounted for in this SEC filing.
12. Although not disclosed in any e.Digital SEC filings, e.Digital management has recently stated that JABRA instituted a “number” of reverse-splits during the company’s time prior to being acquired. One or more of these stated reverse-splits apparently, judging by the drop in the calculated JABRA shares outstanding, occurred during a period between June 1997 and February 1998. For illustration purposes, using a calculation based on e.Digital’s ratio of ownership of 12.1% prior to this filing and drawing the assumption this ratio remained constant during the reverse-splits (in reality either EDIG sold shares or JABRA issued new shares as reflected by the drop in EDIG’s percentage owned) e.Digital would have retained 145,200 after the reserve-split(s) were effective ([1,200,000 * 940,734] / 7,774,661) or illustrating that one share of JABRA was exchanged for appoximately 0.15 shares as a result of the reverse-split(s).
EDIG 10K filed 19980626
Notes to consolidated financial statements, Item 8, Investment in JABRA, Page 43.
The Company owns 58,600 common shares of JABRA or approximately 2.5% of JABRA's common shares with a carrying value of $Nil on the Company's consolidated balance sheets[REF F]. During 1997, the Company sold 859,266 common shares of JABRA for cash proceeds of $276,300 and recorded a gain on sale of investment of $276,300.
EDIG 10K filed 19990628
INVESTMENT
The Company owns 58,600 common shares of JABRA or approximately 2.5% of JABRA's common shares with a carrying value of $Nil on the Company's consolidated balance sheets.
May 22, 2000
GN Netcom Acquires JABRA Corporation
The purchase price for JABRA is $40 million plus earn-out payments totaling a maximum of $35 million.
EDIG 10K filed 20000627
No reference to JABRA or investment position in JABRA.
EDIG 10Q filed 20010214
For the period ending June 30th, 2000 e.Digital recorded a “gain on the sale of investment” of $30,124.
This is still a work in progress so please excuse any incompleteness.
EDIG 10K filed 19960628
Part I, Item 1, History, Paragraph 3
On January 15, 1993, the Company sold 300,000 common shares of JABRA stock for $750,000, and JABRA sold 500,000 newly issued common shares with warrants for $1.25 million. The Company retained 2,300,000 common shares or 74.2% of JABRA stock and the Company agreed to surrender operating control of JABRA pursuant to the stock sale agreement[REF A]. On July 15, 1993, the Company sold an additional 500,000 common shares for $1.625 million and JABRA sold 1,000,000 newly issued common shares for $3.25 million. The Company’s 1,800,000 common shares represented 42.8% of the outstanding shares of JABRA and as a result of the lack of operating control, the Company ceased consolidating JABRA’s operations and recorded its investment on the cost basis because it no longer had significant influence over the operations of JABRA. At March 31, 1996, the Company had a zero cost basis in its 1,800,000 JABRA common shares[REF B]. During fiscal 1995 and 1996, JABRA reported to the Company the sale of 1,154,671 newly issued common shares for proceeds of $4.0 million. As a result of these transactions, the Company’s ownership in JABRA at March 31, 1996, represented by 1,800,000 common shares, is 23.1% (or 20.1% on a fully diluted basis). The Company has granted an option to purchase 300,000 of the JABRA common shares to CVD Financial Corporation (“CVD”)[REF C].
Notes:
1. Implied value is derived from dividing the value received for the sale of JABRA stock by the number of shares sold by EDIG/JABRA. Example: sold 300,000 common shares of JABRA stock for
$750,000 ($750,000 / 300,000 shares = $2.50 per share multiplied by the total JABRA shares outstanding, pertaining to this example, 3,100,000 = an implied value of $7,775,000).
2. e.Digital agrees to surrender operating control of JABRA.
3. Per the filing, JABRA shares outstanding increase by 1,000,000 to 4,100,000. JABRA shares held by EDIG decreases by 500,000 to 1,800,000. 1,800,000 divided by 4,100,000 equals a controlling percentage of 43.9%. The filing cites the controlling percentage to be 42.8%. In order to reconcile between EDIG’s percentage of ownership and total shares held relative to outstanding shares, JABRA’s shares outstanding must be increased by 105,607 to 4,205,607 (1,800,000 / 4,205,607 = 42.8%).
4. e.Digital ceases consolidating JABRA’s operations and records the JABRA investment at a cost basis of zero because “it no longer had significant influence over the operations of JABRA.”
5 & 6. Per the filing, JABRA shares outstanding increase by 1,154,671 to 5,360,278. JABRA shares held by EDIG remain at 1,800,000. 1,800,000 divided by 5,360,278 equals a controlling percentage of 33.6%. The filing cites the controlling percentage to be 23.1%. In order to reconcile between EDIG’s percentage of ownership and total shares held relative to outstanding shares, JABRA’s shares outstanding must be increased by 2,431,929 to 7,792,207 (1,800,000 / 7,792,207 = 23.1%).
7. The same calculations as notes 5 & 6 on a fully-diluted basis.
EDIG 10K filed 19970626
Part I, Item 1, History, 2nd paragraph from the bottom, INVESTMENT IN JABRA
Between January 15, 1993 and March 31, 1996 the Company sold an aggregate of 800,000 common shares of JABRA stock for $2,375,000 and owned 1,800,000 JABRA shares with a zero cost basis. On or about December 31, 1996 and January 2, 1997, the Company sold an additional 859,266 common shares of JABRA stock for $276,300. As a result of these transactions, the Company's ownership in JABRA at March 31, 1997, represented by 940,734 common shares, was 12.1%. Accordingly, the
Company exercises no control over the shares of JABRA. [REF D] JABRA is a private company engaged in developing, manufacturing and marketing cellular, desktop, mobile and wireless communications products. JABRA's principal technology is the patented "all-in-the-ear" EarPHONE technology originally conceived and developed by the Company when JABRA was a wholly owned subsidiary. As a minority shareholder in JABRA, which has reported operating losses since its inception, there can be no assurance as to when or if the Company's remaining shares can
produce any financial return to the Company. The Company's investment in JABRA shares is carried on its balance sheet at a cost of nil. CVD Financial Corporation has an option (until July 31, 1997) to purchase 300,000 of the Company's JABRA shares at a price of $1.50 per share granted in connection with a prior loan financing.
8. Per the filing, EDIG sells 859,266 shares of JABRA and retains 940,734 shares representing a controlling interest of 12.1%. This figures indicate the JABRA shares outstanding are 7,774,661 (940,734 / .121 = 7,774,661) and creates a discrepancy with our previous calculations of JABRA shares outstanding, on both the undiluted and fully-diluted basis. Clearly e.Digital has made a reporting error on either one or more of “items” labeled x,y and z. The current inferred JABRA float (z) correlates best to the JABRA float calculated in item x.
9. Per the filing, EDIG sells 859,266 shares of JABRA raising proceeds of $276,300. JABRA’s implied value has dropped to $0.32 ($276,300 / 859,266 shares = $0.32 per share) or a total implied value of $2,499,969 based on the JABRA shares outstanding calculated using the data in this filing (item z). This is the lowest implied value on record and a 90% drop from the implied value calculated in item x and a 92% drop from the implied value calculated in item z. This significant drop in implied value has occurred over a one year period.
EDIG S3 filed 19980220
The Company, 2nd Paragraph from the Bottom
The Company also holds as an investment 62,000 common shares (less than 5%) of JABRA. JABRA is a former wholly-owned subsidiary of which control was sold in 1993.[REF E] JABRA is a developer and manufacturer of communication products for desktop, mobile and wireless applications.
11. Per the filing, e.Digital’s controlling percentage of e.Digital has dropped to less than 5%, or 62,000 shares, equating to a maximum possible number of JABRA shares outstanding of no more than 1,200,000. Over the course of eight months, between filing dates of the SEC documents referenced, e.Digital’s percentage of ownership in JABRA has dropped from 12.1% to “less than 5%”. This drop in ownership is not accounted for in this SEC filing.
12. Although not disclosed in any e.Digital SEC filings, e.Digital management has recently stated that JABRA instituted a “number” of reverse-splits during the company’s time prior to being acquired. One or more of these stated reverse-splits apparently, judging by the drop in the calculated JABRA shares outstanding, occurred during a period between June 1997 and February 1998. For illustration purposes, using a calculation based on e.Digital’s ratio of ownership of 12.1% prior to this filing and drawing the assumption this ratio remained constant during the reverse-splits (in reality either EDIG sold shares or JABRA issued new shares as reflected by the drop in EDIG’s percentage owned) e.Digital would have retained 145,200 after the reserve-split(s) were effective ([1,200,000 * 940,734] / 7,774,661) or illustrating that one share of JABRA was exchanged for appoximately 0.15 shares as a result of the reverse-split(s).
EDIG 10K filed 19980626
Notes to consolidated financial statements, Item 8, Investment in JABRA, Page 43.
The Company owns 58,600 common shares of JABRA or approximately 2.5% of JABRA's common shares with a carrying value of $Nil on the Company's consolidated balance sheets[REF F]. During 1997, the Company sold 859,266 common shares of JABRA for cash proceeds of $276,300 and recorded a gain on sale of investment of $276,300.
May 22, 2000
GN Netcom Acquires JABRA Corporation
The purchase price for JABRA is $40 million plus earn-out payments totaling a maximum of $35 million.
EDIG 10Q filed 20010214
For the period ending June 30th, 2000 e.Digital recorded a “gain on the sale of investment” of $30,124.
Bob Zumbrunnen...you are right I don't really
think so either. It was a statement out of frustration at what's going on.
Weather a poster is a shareholder or not is not an issue with me. I agree with what you are saying. I understand it very clearly.
I don't think he was "accusing" you of not having a financial interest.
Personally, when I used to post on stock boards, I'd sometimes post on boards in which I had no financial interest but because of my experience felt my input from a different perspective (say, as a software guy, or as someone who'd seen an identical situation previously) could be beneficial to the group.
I've never considered a financial interest to be any kind of requirement for talking about a company. And I can't help but label anyone a "twit" (in my own mind, of course) who posts "Why are you posting about this stock if you're not a shareholder?"
There's a widespread misconception that market-talk message boards should be online meeting places for shareholders. Definitely not the case. At least not in any board that would be worth its weight in servers.
If I encounter a lot of people saying that Hyundai's are the best cars made and everyone should own one, I'm very likely to weigh in as a former mechanic and say "I've worked on Korean cars and a common theme with them is spot-welds where full welds should be used and using only 'enough' fasteners and of barely sufficient size to hold a part in place rather than going a bit farther than is necessary, like any Toyota does."
And that opinion would be valuable, whether I've owned a Hyundai or not.
There's probably a place for "shareholder clubs" on the internet somewhere. I just don't know where that place is. Until someone figures it out and implements it (for a fee, which few would be willing to pay, so self-sufficiency of such a site would be a challenge), all that's out there is the current crop of message boards, none of which (as far as I know) specifically cater only to shareholders.
with today's postings re the Digitalway MPIO HD100?
You can't be serious.
You wrote that piece on Macworld, didn't you?
I have seen no credible evidence to counter my forecast.
For fun, let's parse the pertinent information for the MacWorld.UK hyperbole.
DigitalWay has launched an MP3 player that's "startlingly similar" to Apple's iPod.
So startlingly similar that I imagine Apple's intellectual property attornies are already preparing a cease and desist order.
The £299.99 (inc-VAT) product is called the hd100 personal digital jukebox. It includes a digital voice recorder and an FM radio (with 12 pre sets). The hd100 also features VoiceNav speech recognition technology, so the unit can locate a track simply by saying its name.
It is non sequitur to assume that since the unit uses VoiceNav, the entire unit design must be licensed from e.Digital.
Pre-orders can be made at www.ihavetohave.it.
In fact they cannot be preordered.
http://www.ihavetohave.it/acatalog/personalmp3.html
And whatever happened to that 12 cent PPS that you foresaw coming 'very soon' some weeks back?
Ahh, yes, the e.Digital cult is well-polished in ad hominem and non sequitur arguments.
Zack, how do you reconcile this... "Why would a OEM pick up a competitively inferior product? Answer: they won't. Why would a OEM pick up a product six months from being reaching legacy-status? Answer: they won't. Why would DigitalWay OEM the product to sell in Asia and Europe when e.Digital is on the line to them for 5 million in purchase orders? Answer: they won't." with today's postings re the Digitalway MPIO HD100?
And whatever happened to that 12 cent PPS that you foresaw coming 'very soon' some weeks back?
It's really uncanny how inaccurate your predictions are.
Whoa ....
would be easier to extract $350,000 by selling
the O1000. I don't see your rational at all.
and I suppose this board is unbiased .... what a joke
who are you anyway some market maker trying to get
get my shares of EDIG along with your insider friends
.. so obvious that you do understand what you are
doing ... but it won't work with me.
burn baby burn for your not so truthful representation of this company - I bet you sleep at night too ...
what goes around comes around and don't forget
it ever. You will reap what you sow.
Matt...what makes you think I'm not
a shareholder? I've owned EDIG since the late summer of 1999. Why are you accussing me of not having a financial interest in EDIG? I still have enough left to count just in case the blind are right. Whoever is putting a bug in your ear has some other motive.
Why I post? Several reasons I guess. The company isn't what I thought it was, yet posters still post as if it's still the next Microsoft. I don't like reading the hype that isn't true. It's addictive and entertaining. I don't claim to be right all the time but these guys have their heads in the sand all the time! I still have an interest in what's left of my investment and the over hype scares potential investers away assuming they even know what IH or RB is. IMO
If the market has overvalued a stock, I would put the onus on the broker community, not the individual investor, who was told to continue buying even when the financial community was looking at PEs of 100-400 based on inflated future earnings. All of that was pure nonsense.
While the late nineties witnessed a large inflow of new capital into the financial markets, largely due in part to the advent and popularity of online brokers (lowering the transactional cost of investing in equities) and capital creation as a result of the longest peacetime economic expansion, the mutual fund industry is largely to blame for what we now define as the malinvestment of the equity market bubble.
The impact of capital flows from individual investors, influenced by the Wall Street analyst community, is miniscule in comparison to that of mutual funds and pension funds. We would like to believe these institutions invest with a higher level of sophistication than the individual investor but the inflation and subsequent deflation of the equity market bubble appears to have quashed that theory for the time being. During the latter part of the nineties these institutions, who historically invest on sound principles, began to base their philosophy on chasing performance rather than espousing a top-down or bottom-up analysis. The investment criteria evolved from investing in a company to investing in those companies that have appreciated the greatest over the calendar quarter. The actual fundamentals or future expectations began to mean very little.
This methodology of chasing performance turned self-feeding and self-fullfiling and ultimately resolved in capital flowing into a narrow classification of equities, specifically large cap stocks and stocks in the technology sector. The most liquid stocks and the stocks within a industry and sector experiencing the greatest degree of growth.
One of my current projects is analyzing the capital flow of the mutual fund industry and its impact on the equity markets.
This is a graph of the ratio of capital inflows to outflows into equity mutual funds and the 12 month rate-of-change of the net assets of equity mutual funds.
As the navy blue line illustrates, though commencing from a lower base, in April of 1993 outflows began to increase at a greater rate than inflows. This applies a negative influence on the ratio. Ignoring the anolamaly in 1998 when LTCM failed, Russia defaulted and the economic storm clouds from the Asian contagion were approaching our economic shores; the ratio approaching one (outflows matching inflows) coincides with the end of the secular bull market.
Put simply, in April of 1993 and thereafter the rate of individuals pulling money out of stock mutual funds increased relative to individuals putting money in stock mutual funds.
This is a graph of the liquidity ratio of equity mutual funds (cash and equivelants expressed as a percentage of net assets), the monthly closing value of the S&P500 and the monthly closing value of the Volatility Index.
Most notable is as the pace of the decline in the liquidy ratio increases the S&P500 begins to appreciate at a greater rate and the Volatility Index reacts by maintaining a higher absolute level.
Please note that the liquidity ratio is largely dependent on the direction of interest rates. As rates decline the opportunity cost of investments in short term liquid investment increase.
So what fueled the bubble in equities?
1.) Commencing in 1993, outflows increasing at a higher rate than inflows threatened revenue growth to the mutual fund industry (the growth of their net assets, and thus fees, independent of market gyrations, begins to diminish).
2.) In response mutual funds began to allocate a greater percentage of their cash into the stock market.
3.) Boosting stock prices
4.) And helping to offset the negative influence of an increasing rate of outflows on their net assets (and associated fees as a percentage of assets).
This data also argues that we are no where near the necessary dynamics to spark a secular bull market. A environment for a secular bull market will exist when:
1.) mutual fund liquidity ratios move to a higher plateau
2.) mutual fund inflows increase at a greater rate than increases in outflows (or outflows decrease at a greater rate than decreases in inflows).
Number one is largely dependent on number two unless mutual funds increase their liquidity ratios by selling stocks, which will apply a negative influence on stock prices and stunt any potential bull market.
Number two is largely dependent on the interest rate environment, specifically a consistent trend of lower interest rates must continue (unfortunately though there is not much additional room to fall) and capital creation through economic expansion (increases in employment, income, savings etc) and thus a growing pool of capital looking for home of which a percentage will find its way into mutual funds.
IMO, RagingBull offers tremendous
insights for stock investing.
Just look at the massive posting over
there. Its a wealth of knowledge, much
of which is being shared here at ihub.
Thanks for setting up a "free" flowing
forum here.
I look forward to reading your postings.
I always like to get an understanding of "why" people post that have no underlying financial reasons to post.
I admit, I don't bother posting on a board unless I have a financial reason. Long or short. I have better things to do with my time. Actually, for the most part, I stay far away from individual company boards. I tend to run with the "groups" and post on those general stock boards.
Why is it that *you* want to post about EDIG?
I think I understand BA. Seems he said he was invested at one time, possibly still is, but has since just wanted to see the story end. I can understand that to an extent, but I'm curious what your reasons are.
You don't have to reply if you have no reason. It's merely for my own personal education.
MB
By: LawyerLong
09 Jan 2001, 10:23 AM EST Msg. 580277 of 967801
Please help with some EDIG Questions.
I am long on EDIG, holding several thousand shares for 18 months. I think this company has a chance to be big, and have considered taking (for me) a large stake. I have been talking with my broker about it and he says two things - I would love some honest feedback from some of you who know the company well.
1. He says there has been no true "design win" as of yet; that EDIG is doing some very interesting work to partner with known names, but no exclusive design wins that will lead to definable revenue. I am not sure what this means, but he is a very smart guy and we have made good money together. Is he right?
2. He says that, looking at the company's earnings report, they only have enough cash for 6 more months. Is this true? If not, why?
Don't give me a bunch of BS about bashing and being a short. I invested before knowing much, now am looking at putting some real money on the table. Thanks for your help.
LL
By: LawyerLong
11 Jan 2001, 10:47 AM EST Msg. 584359 of 967801
MIR - A question for you.
I'm sure this will draw a lot of derisive comments, but here goes anyway. I have always bought stock in companies that have proven themselves in the marketplace, not speculative ventures. With one exception, I should add, which is INOD (mentioned when I last posted) and this is, of course, the stock with which I have profited the most.
So I understand the risk/reward of investing - the more speculative the investment the greater the risk, the greater the reward. I am on the verge of selling some stocks that have, for the most part, realized their potential and putting the money in EDIG. If EDIG goes to 10 I make a lot of money, if it goes to 1.5, I lose what is, for me, a lot of money. Probably no different from many of you.
I have read messages, talked with Robert Putnam, etc. I would now like opinions on this question - what do you think is the worst case scenario for EDIG and its stock price over the next several years and how likely do you think this worst case scenario to be? As an investor I always ask myself and others this final question and it has served me well.
Thanks for your help.
LL
By: LawyerLong
12 Jan 2001, 01:41 PM EST Msg. 586410 of 967800
[EDIG PPS 01/12/01 $2.63]
OK - I'm in!
I just increased my holdings by tenfold. This was a big investment for me but after reading all the messages and links and after speaking with robert putnam I am very impressed with the game plan and the probable outcome of this plan. No one can predict the future, but it is hard to see how EDIG will not be successful at least to the extent of making 5x to 10x my original investment.
Like Mary in Red I am a buy and hold investor so I am giving this two years. Thanks to Tinroad, MIR, Dr.Hunt, GPDesign and others for their information. Thanks also to the bashers, whom I also read carefully. I was unable to find a single basher's message which contained real information that would lead me to doubt the motives, veracity, technical wherewithall and true potential of this company.
In March I will have more cash and will make another investment approximately half the size of today's.
LL
By: LawyerLong
08 Feb 2001, 09:17 AM EST Msg. 609015 of 967802
[EDIG PPS 02/08/01 $2.19]
Tin, re your post about bashers.
And to what end do they do this? To push the stock down? It's already as low as it will ever get? Someone pays them? What for?
This is the only thing about EDIG I can't get my arms around. What is the agenda of the bashers? Who profits from this course of action and how?
Oh yes, I am buying more today - my third position.
Thanks.
LL
By: LawyerLong $$$$$
27 Feb 2001, 09:25 PM EST Msg. 625763 of 967803
[EDIG PPS 02/27/01 $1.78]
Took a fourth position in EDIG today.
I didn't think the stock would stay at this price until I was able to buy more. Glad it did, though sorry for those of you who have been holding for some time. If it is still under 2.50 in two weeks I will buy again. Things should be very interesting in the next 2 years.
LL
By: LawyerLong
07 Sep 2001, 07:17 PM EDT Msg. 772524 of 967803
Malt - I began buying
30 months ago and have purchased 5 positions in that time. I am of the same philosophy as you. time is on our side.
LL
By: LawyerLong
25 Sep 2001, 10:36 AM EDT Msg. 788988 of 967803
[EDIG PPS 09/25/01 $1.14]
Just added 5,000 shares. eom
[Down $4700]
By: LawyerLong
25 Sep 2001, 10:39 AM EDT Msg. 789000 of 967803
Yeah CRQ - I'M REALLY Desperate. I am so desperate
I have bought more and never sold for 3 years. THAT's desperation for sure.
LL
By: LawyerLong
14 May 2002, 09:59 AM EDT Msg. 975150 of 985489
Bought 30,000 shares at $.465 this AM. LL
[Down $8550]
By: LawyerLong
14 May 2002, 11:05 AM EDT Msg. 975181 of 985496
Bought 18,000 more at $.49.
[Down $5580]
By: LawyerLong
14 May 2002, 02:28 PM EDT Msg. 975388 of 985489
Added 40,000 more at .49 and .50.
[Down $12600]
By: LawyerLong
15 May 2002, 02:56 PM EDT Msg. 976115 of 985489
Added 10,000 shares at $.555.
[Down $3750]
Important DD on APS:
(Note: this is a bit long, but very worth it. It will surprise most of you).
On 10/23/02, e.Digital released the following PR about a partnership with "APS" to develop and market in-flight entertainment (IFE) systems:
http://www.edig.com/news/releases/pr102302.html
In the FAQ section of the EDIG website, management state (regarding this IFE relationship): "We view this as one of the major developments for e.Digital for this year and in years to come. Becoming part of the infrastructure that supports our IFE systems may generate multiple revenue streams for us." i.e., management is promoting this partnership as one if the major developments for the future.
However, when one reviews the PR, it is clear that it has very little information about APS and what is said is very ambiguous. No web site or contact information for APS was given.
As I previously pointed out, e.Digital erred in referring to Aircraft Protective Systems, Inc. (APS) as "APS, Inc." in its description of the company. However, in looking further into the situation, I believe that e.Digital has grossly exaggerated the potential revenue from this partnership and been very misleading in describing APS.
First of all what is APS and what does it do? The web site for APS is http://www.airprosys.com. The company has 3 products it seems to offer for sale (although no pricing or order information is given. These products are a (cargo) belt loader nose, a cargo door protector and a kevlar flight deck barrier. There is no mention about any IFE products or services.
APS is privately owned by William (Bill) Boyer, Jr. who also works for Alaska Air as a "Ramp Service Agent." The following is the Alaska Air job description:
Ramp Service Agent
-----------------------------------------
Ramp Service Agents at Alaska Airlines load and offload luggage and cargo. Duties also include working in the cargo area of the aircraft, transporting luggage and cargo to various airport locations, maintaining ramp and warehouse areas, and pushing-back and de-icing our aircraft.
The minimum requirements for the Ramp Service Agent position are as follows:
*Valid driver`s license and excellent driving record
*Ability to routinely lift 100 lbs
*Flexibility for shifts, including holidays and weekends
*Able to accept a starting wage of $9.10 per hour
*Must be a non user of nicotine products for the last six months
*High School diploma or equivalent
http://www.alaskasworld.com/Jobs/ASjobs/JobAlaskaDescr.asp?n_group=142&txtGroup=Airport+Jobs
Here is the article from the Alaska Air employee web site which describes how Boyer ended up marketing his design for a cargo door protector and making a prototype of the belt loader nose (designed by a VP at Alaska Air):
http://www.alaskasworld.com/news/2002/11/12_BeltBumper.asp
"The idea took wing when Bill Boyer, an enterprising ramp service agent based in Seattle, approached Prewitt, Alaska’s vice president of safety, about an aircraft door protector he developed and hoped to market. Prewitt then described his bumper idea. After putting their heads together to refine the idea, Boyer went back to his shop and created a prototype.
So, the President of APS, e.Digital's partner in this major development, is employed as a cargo loader for Alaska Air. Now for more...
The EDIG PR quoted Boyer as saying:
Bill Boyer, Jr., President of APS, said, "As a certified airline service and equipment provider, we have established key relationships with major airlines. In our business dealings with these airlines we recognized the substantial cost they would have to incur to upgrade their fleets with embedded IFE systems. Beginning with a major U.S. airline, APS and e.Digital are providing the first portable IFE solution to the airline industry at a significantly reduced cost."
It has already been established that APS and EDIG are NOT providing "the first portable IFE solution to the airline industry" as a company called InMotion had been renting DVD Players and DVD movies to airline passengers at NO charge to the airlines long before this PR was release, so that statment is false.
Also, what is meant by the term "certified airline service and equipment provider?" EDIG also described APS with this phrase in its description of APS in the PR:
About APS, Inc.
APS, Inc. is a privately owned, Tacoma, Washington-based company. A certified airline equipment and service provider, APS provides solutions, industrial design, and manufacturing services for companies who have specialized product needs.
Forget that the description given seems to be a gross exagerration of what APS does, what certification does APS have? The web site makes no mention whatsoever about any kind of certification. If it were ISO 9000 or AS 9100 Certified both the PR and the web site would be expected to state that. So what "certification" does APS have?
I think I found the answer. I found a company called Shaw Aero which appears to be the real manufacturer of the belt loader nose sold by APS (See the photos):
http://www.shawaero.com/documents/New%20Devel-Apr.pdf
Home page: http://www.shawaero.com/devicehomepage.htm
Shaw Aero has a "Certified" Supplier Program that APS may be part of (it appears it would be the "non-inventory" type):
http://www.shawaero.com/documents/71602%20Certified%20Supplier.pdf
Is this the "certification" being touted?
Now, as for "IFE" - how did Boyer get involved in that?
According to the following article on the Alaska Air employee website that describes how employees were making suggestions for IFE systems, including live TV. Alaska found that live TV was not suitable for them and that passengers won't switch airlines due to IFE options.
Instead of outfitting their flights with embedded IFE systems, Alaska Air signed an agreement with InMotion to offer IFE to Alaska Air passengers at a 25% discount without any financial risk to the airline. Furthermore, Alaska Air management was quoted as saying:
"We don’t want to get into the business of being our own supplier of equipment or videos for several reasons," Palmer says.
Among them are:
It’s complicated. Transporting equipment, determining how many players are needed and what movies are offered can quickly become a logistical nightmare. Plus, equipment would need to be cleaned, recharged and possibly repaired after each flight. This would require additional staffing.
It’s expensive. Players would first have to be purchased and contracts would need to be reached with various content providers—with slim hope of recovering direct costs.
http://www.alaskasworld.com/news/2002/09/30_entertainmentoptions.asp
Therefore, it does NOT appear that Alaska Air intends to buy any personal video devices directly from APS. In fact, an RB alias that popped up on the day of the PR who seemed to know a lot about Boyer and APS (was it Boyer himself?), seemed to indicate that the plan was for APS to offer the kind of service that InMotion does, talking the financial risk. See:
http://ragingbull.lycos.com/mboard/memalias.cgi?member=goldwingin
In summary, I believe that the APS partnership and e.Digital's potential revenue from the partnership has been grossly exaggerated by management.
Signing as the Chief Financial Officer in the 10K filed in 1996 is KATHLEEN E. TERRY.
ELWOOD G. NORRIS: Chairman of the Board
ROBERT PUTNAM: Director and Secretary
R. GORDON ROOT: President and CEO
10K filed in 1997:
ELWOOD G. NORRIS: Chairman of the Board, Executive Officer and Director, (principal executive officer)
ROBERT PUTNAM: Director and Secretary
ALFRED H. FALK: President and Director
RENEE WARDEN: Controller (principal financial officer)
S3 filed in 1998:
ELWOOD G. NORRIS: Chairman of the Board, President, Cheif Executive Officer and Director
ROBERT PUTNAM: Vice President and Director
ALFRED H. FALK: President and Director
RENEE WARDEN: Controller (principal financial and accounting officer)
10K filed in 1998:
ELWOOD G. NORRIS: Chairman of the Board, Cheif Executive Officer and Director
ALFRED H. FALK: President and Director
RENEE WARDEN: Controller (principal financial officer)
ROBERT PUTNAM: Vice President, Secretary and Director
In 1998 we also get Warden's bio:
RENEE WARDEN - Ms. Warden was appointed Controller of the Company in
June 1997. From November 1991 to June 1997 she was Accounting Manager for the
Company. Since 1993 she has attended Palomar College and most recently the
accounting program at the University of Phoenix, San Diego.
Warden was "accounting manager" from 1991 through 1997 although since 1993 she "attended" Palomar College (Junior College) and "most recently" (1998?) attened the "accounting program" at the University of Phoenix (online)?
The accounting and financial officer of the company at the time of the filing had not graduated from a JC and was attending an "accounting program" at what is now widely recognized as an "online" method for college credit! Surprised?
*******A KATHLEEN E. TERRY is currently listed as CFO and VP of a Carlsbad, CA Semiconductor company. 2001 annual revenues: $200K.
http://216.239.51.100/search?q=cache:u6tnuvDCyjcC:www.hoovers.com/co/aag/4/0,2658,16144,00.html+%22K...
Name,
The rules are simple;
No inane prattle: No one line comments like "Name- LOL! Post of the day"
No personal attacks: self-explanatory.
All speculation and opinions should be documented with facts or an exhaustive illustration to support the idea: No comments like "DigitalWay is OEM our product" unless supported with concrete and credible sources.
Get the idea?
My conditions of posting (COP) was an agreement the Ihub Admin Matt and I entered into when I was "permanently" TOSD. If I linked the COP at the end of my posts for one month, I would be permitted to keep posting.
Cheers.
As JABRA's sales were growing and the implied value of the company increasing (of course the growing success of the company was unknown at the time to outside persons but I have verified the company's historical sales and profit totals with the acquiring company GN Netcom), e.Digital was actively divesting their remaining interest of the company to unnamed parties, and not accounting for the transactions, for pennies of it's future acquisition price.
For example, throughout the calendar year 1997 e.Digital sold 859,299 shares of Jabra for $276,300 (to whom? it is not disclosed!), or $0.32 per share. Three short years later those shares would have been worth over FOUR MILLION DOLLARS plus additional earnout payments totalling up to another four million. Based on Jabra's historical financials, it was around 1997 when the company turned the corner.
http://www.communitech.com/Manufacturer%20News/gn_netcom/GN_Netcom_may_22.htm
Is this what visionaries are made of Frank? e.Digital's management DUMPED, for pennies on the future dollar value, the ONE TECHNOLOGY that proved successful (and remains successful today- one of GN Netcoms best performing divisions).
Part of their divestiture was to finance the ill-conceived ASMD contract-manufacturer and FLASHBACK endeavor. Visionary!
Randy Granovetter left NCII to work at Jabra and Vicki Marion was the CEO of the company.
The accounting for the Jabra ownership and divestment is extremely messy and incomplete.
Frank, did you get a piece of the Jabra action from e.Digital? Did Norris slip a few thousand shares out of the corporation for a couple hundred bucks? It was quite a lucrative investment considering what the company was willing to part with it for and what it was eventually worth a year or two later.
I will happily forward you the document my accountant authored and which we forwarded to the SEC and FASB for review.
I am sorry but I cannot understand people like you. What is your purpose in doing things like this? Don't you have the least little bit of a conscience...If you don't like the company and wish to complain that's one thing, but to make up facts with the sole purpose of sowing seeds of doubt and dissention among those who are invested in EDig is not something my parents brought me up to feel was how to live my life...
What about people like you? People you pontificate from a position of authority when their knowledge of the facts are nonexistent? People who sow the seeds of certainty and optimism when the situtation is as dire as it can be? Frank, how many people have espoused your pollyannish perspective and watched their invested capital erode to virtually nothing?
OK But Anyway I'll give it a try.
I don't like the Saddam Hussein attitude of Tinroad's board. Although I know it's only a message board it does give a taste of what it's like to not have free speech. What are the rules here?
What's that conditions to post disclaimer all about at the end of your posts?
Why would a OEM pick up a competitively inferior product? Answer: they won't. Why would a OEM pick up a product six months from being reaching legacy-status? Answer: they won't. Why would DigitalWay OEM the product to sell in Asia and Europe when e.Digital is on the line to them for 5 million in purchase orders? Answer: they won't.
What then is the purpose of the Odyssey1000 you ask?
To extract another $350 from shareholders.
If they can't get you people to buy the stock, they surely can get you to buy their (inferior) products.
After discounting for the cost of goods sold, every sale is $100 in cash to be allocated to salaries.
Considering e.Digital has not marketed the unit to the general public, what percentage of aggregate sales is accountable to shareholders, or friends and family of shareholders? 70%? 80%? 90%?
This company has historically exploited their shareholders to finance the engineering and design hobby of Norris, his children and friends. In the one instance where the company possessed intellectual property that would be in high demand by the public (Jabra Earphone Technology), it mysteriously and clandestinely disappeared from the company's balance sheet. That's right, they quietly divested their, at one time, 100% ownership in Jabra to the point where the corporation received $40,000 on a $40 million dollar purchase price. From 100% to one-tenth of one percent of what became a $40+ million dollar company. Visionaries? Hardly. Thieves? Pending SEC review.
Selling product to shareholders is yet another avenue employed to exploit shareholders. In every instance e.Digital/Norris Communications has attempted to sell product to the general public, the company has hemorrhaged cash.
From the most recent FAQs:
Q: Please discuss your development plans as they relate to wireless technology.
A: We have developed a platform incorporating a popular wireless protocol; we are currently designing it into a product for a major OEM customer. We expect to be able to release details about this product this quarter.
----------------------------------------------
Wordsmithing is a tactic heavily employed by e.Digital Corporation.
One rightly wonders why the company cannot disclose the "popular wireless protocol". Is it bluetooth? 802.11b?
"Major OEM" can literally mean anything. It can mean a company that holds a dominant market share in an industry (Nokia in cell phones would be a example). It just as likely can mean the OEM is "major" to e.Digital, for example one OEM that represents the majority of EDIG's revenue for the services category.
Does anyone have any experience or knowledge on disclosure requirements? In other words, what if any information outside of the contractual boundaries of a nondisclosure agreement is e.Digital required to disclose to shareholders and the market considering the company is publicly traded?
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