Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Wednesday, June 11 2008 8:01 AM, EST
SRS Labs Partners With Syntax-Brillian to Bring 5.1 Surround Sound to New Olevia LCD HDTVs
PR Newswire "US Press Releases "
SANTA ANA, Calif., June 11 /PRNewswire-FirstCall/ -- SRS Labs, Inc. (Nasdaq: SRSL), the industry leader in surround sound, audio and voice technologies, announced today that U.S.-based Syntax-Brillian (Nasdaq: BRLC) has licensed SRS TruSurround XT surround sound technology for their 2 Series and 6 Series brand LCD HDTVs.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070322/LATH036LOGO)
Syntax-Brillian, one of the fastest growing TV brands, selected SRS Labs as their audio partner because of the unique and demonstrable features of SRS' advanced sound enrichment technologies. SRS TruSurround XT deployed in Olevia LCD HDTVs processes multichannel audio content found in television shows and movies to create an immersive surround sound experience over the TV's built-in stereo speakers. Olevia LCD HDTV customers will feel as if "phantom" speakers are placed around them, producing an amazing surround sound effect, without the clutter, wires, added expense or complexity of a multi-speaker configuration.
"SRS TruSurround XT is not only easy to integrate into our platform, but, more importantly, provides our customer's with a high-quality, immersive audio experience that matches the rich, vibrant images of our new lineup of Olevia LCD HDTVs that we plan to introduce this Summer," says Sam Miller, Senior Vice President of R&D for Syntax-Brillian. "We're happy to be working with an innovator like SRS Labs and look forward to developing our partnership further in the future."
According to the Consumer Electronics Association (CEA), 76% of all flat panel TVs are used without a separate audio amplification system. Yet, the CEA also found that consumers consider audio to be nearly as important as video in terms of importance in an entertainment system. Further, SRS Labs' MarketTools study found that over 71% of HDTV buyers indicated that "audio quality" was their 3rd most important buying criteria out of a list of 18. By featuring SRS TruSurround XT in Olevia LCD HDTVs, Syntax-Brillian is providing consumers a convenient solution to experience the full extent of the surround sound capabilities built into DVD movies and TV programs.
"We are very excited about our new partnership with Syntax-Brillian. The combination of their leading edge designs and our ability to fine tune and customize our world-class sound enrichment solutions to optimize the overall performance of their Olevia LCD TVs enables us to provide today's demanding AV consumers with the best possible entertainment experience," said Allen Gharapetian, Vice President of Marketing for SRS Labs.
Beginning this Summer 2008, Syntax-Brillian will ship the new 2 Series and its 6 Series Olevia LCD HDTVs with SRS Labs' TruSurround XT to its North American retailers. Olevia LCD HDTVs range in size from 26-inches to 65-inches.
About Syntax-Brillian
Syntax-Brillian Corporation (http://www.syntaxbrillian.com) is a leading designer, developer, and distributor of LCD HDTVs, digital cameras, and consumer electronics products. The company's lead products include its Olevia(TM) brand (http://www.Olevia.com) high definition widescreen LCD televisions -- one of the fastest growing global TV brands -- and Vivitar brand (http://www.vivitar.com) digital still and video cameras. Syntax-Brillian has built an Asian supply chain coupled with an international manufacturing and distribution network to support worldwide retail sales channels and position the company as a market leader in consumer digital entertainment products.
About SRS Labs, Inc.
Founded in 1993, SRS Labs is the industry leader in audio signal processing for consumer electronics. Beginning with the audio technologies originally developed at Hughes Aircraft, SRS Labs holds over 150 worldwide patents and is recognized by the industry as the foremost authority in research and application of human auditory principals. Through partnerships with leading global CE companies, semiconductor manufacturers and software partners, SRS audio, surround sound and voice processing technologies have been included in over one billion electronic products sold worldwide including HDTVs, mobile phones, portable media devices, PCs and automotive entertainment. In fact, SRS Labs is the de-facto standard of HDTV audio processing with nine of the top ten name brand flat panel TVs featuring SRS technology. Additionally, SRS Labs surround sound solutions provide the professional broadcast and recording industries with high-performance production, back-haul, storage, and transmission capability. SRS Labs supports manufacturers worldwide with offices in the US, China, Europe, Japan, Korea and Taiwan. For more information, visit http://www.srslabs.com.
Except for historical information contained in this release, statements in this release, including those by Mr. Gharapetian, may constitute forward-looking statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that the Company's goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect the Company's actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of the Company. Some of these factors include the acceptance of new SRS Labs' products and technologies, the impact of competitive products and pricing, the timely development and release of technologies by the Company, general business and economic conditions, especially in Asia, and other factors detailed in the Company's Form 10-K and other periodic reports filed with the SEC. SRS Labs specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.
SRS Labs, Inc. Contact: Press Contact:
Cyndee Pelino, Sr. Marketing Manager Jim Noyd, Noyd Communications Inc.
949-442-5518 310-374-8100
cyndeep@srslabs.com jim.noyd@noydcom.com
SOURCE SRS Labs, Inc.
Shareholder Equity
Shares Outstanding 93.4 M
Institutional Ownership 25.30%
Number of Floating Shares 83.9 M
Short Interest as % of Float 16.54%
LOL. Reminds me of college...
I had two quarters, and had to decide if I wanted a soda or a share of BRLC! Ha! Let's see, 4 packs of Ramen noodles (generic kind) or one share of BRLC? I know, we could start measuring and trading BRLC stock in terms of Ramen noodles! "Hey man, I'll trade you 8 packs of beef noodles for 2 shares....."
5c is the cheapest I've seen. If you don't exercise it, be sure to trade the option and recover some cash.
56's chomp chomp gone....
Like I said this is my first time ever buying an option but it sure does look inviting, would love to hear some other opinions because I really don't have a clue... I think .05 is about as cheap as they get if I'm not mistaken...
ZZPAZ Jan 17, 2009 they are .05 X .15 with a strike price of $2.50
got some more at .10 today
which symbol and expiration date did you go with?
They are only .10, this was actually my first ever option purchase but since they don't expire till next Januaury I sure do like my chances...
With the sales that BRLC have had over the last couple years this stock could easily be right back up to $5 if they can just get their damn sec filings straightened out... especially with the holiday season right around the corner...
The shorts are slowly losing... Now you got me looking into the options. LOL.
I really might have to buy some more of those calls...
It is -- we're SHO for too long and they are covering. Check the SHO list. Also I posted the short data yesterday. We churn so CINN can cover while slowly creeping upward.
From SeekingAlpha
Left-for-Dead Syntax-Brillian Should Jump on Bullish Note
by: Notable Calls posted on: April 22, 2008 | about stocks: BRLC
Baird is upgrading Syntax-Brillian (NASDAQ:BRLC) to Outperform from Neutral based on recently announced strategic initiatives and what they view as an attractive valuation. New price target is $3.
Syntax-Brillian is ramping TV manufacturing at Compal, moving away from Kolin. Firm believes the move eliminates most of the counterparty risk seen with the Kolin relationship. Syntax-Brillian also announced it will implement headcount reduction, cutting its overhead costs by approximately 20%.
In firm's opinion, the company's decision to focus on strategic customers is positive and will result in better service to its U.S. big-box retailers. Should the company be successful securing guaranteed orders from some of its big-box customers, working capital issues would be virtually eliminated.
They believe Syntax-Brillian's chances of bankruptcy are very slim and that the company will be able to refinance its debt, significantly lowering its interest expense. Recent streamlining of business model should help cash flows as well.
Current weakness in U.S. TV demand is leading Syntax-Brillian to gain market share as tier-two/three TV brands are currently ongoing consolidation, in Baird's view. Excess panel capacity should help Syntax-Brillian's gross margin going forward. * Risks to the stock remain significant, including a potential delisting due to filing delays, potential financial restatements, as well as possible additional cash issues.
However, these risks are already built into the current valuation. The stock is currently trading at about 0.3x last reported tangible book and 0.2x our new C08 revenue estimate.
Notablecalls: Wow. This will help the stock lift today as Baird is reportedly one of the most influential ratings movers. BRLC has been left for the dead recently given Sony's much-speculated entry into lower-cost LCD TV market.
I have really nothing to add here. I think the stock goes to $1.35-$1.40.
Smells like some shorters to me...
3rd day it's gapped down and dug back out if this continues today.
Dunno. Even if they get delisted, it's temporary. They will find their way back.
I just got some more calls at .10 with a $2.50 strike price, they will be worth a bundle if BRLC gets things back on track... however if they get themselves delisted from the nasdaq they will be worthless...
Cool. I didn't even see those! Nice :)
Added more calls today, they sure do look like the way to play this here...
Jun 21 2008 Calls | 11 Days to Expiration
Symbol Bid Ask Type Last Change Vol Op Int Strike
+UENFZ -- 0.05 S 0.05 0.00 0 17,518 2.50
+UENFA -- 0.05 S 0.05 0.00 0 4,703 5.00
+UENFU -- 0.05 S 0.05 0.00 0 3,130 7.50
CINN and ARCA are the people trying to cover the shorting. They aren't doing a good job since we're churing hard. I am glad I got in at 50, 51, and 52.
eye$ are coming here,,, lil birdie told me!~>har-har!:))EZ!
http://www.shortsqueeze.com/?symbol=brlc
They get the Q out and this is going to be a Monster...
Pinksheets Short Data
SHO History Date Reg SHO Threshold Flag Rule3210 Flag
Jun 6, 2008 Yes No
Jun 5, 2008 Yes No
Jun 3, 2008 Yes No
Jun 2, 2008 Yes No
May 30, 2008 Yes No
May 29, 2008 Yes No
May 28, 2008 Yes No
May 27, 2008 Yes No
May 23, 2008 Yes No
May 22, 2008 Yes No
12345678next >>
Short Interest Date Short Interest % Change Avg. Daily Share Volume Days to Cover Split New Issue
May 15, 2008 13,905,741 -6.12 1,316,371 10.56 No No
Apr 30, 2008 14,812,297 -2.07 1,912,488 7.75 No No
Apr 15, 2008 15,125,223 -2.05 1,885,803 8.02 No No
Mar 31, 2008 15,442,176 -9.44 1,813,976 8.51 No No
Mar 14, 2008 17,052,540 3.23 2,634,574 6.47 No No
Feb 29, 2008 16,518,507 -1.77 4,434,819 3.72 No No
Feb 15, 2008 16,816,526 -14.54 2,225,571 7.56 No No
Jan 31, 2008 19,677,328 -4.67 1,810,496 10.87 No No
Jan 15, 2008 20,640,226 -4.43 2,267,915 9.10 No No
Dec 31, 2007 21,596,272 29.92 1,874,321 11.52 No No
We're SHO (keep in mind) and we're slowly working it out... Notice CINN shorts and then there is large cover near bid. So, someone is trying to clean up their stupidity.
14:40 -- that was a cover. They are churning as to get the cover down to the last decimal point. LOL.
No, I don't see dumping on the charts (yet). So I agree w/ you there. The short can't be too ugly either since we did touch 59 a short time ago. So, let the market settle... I think we're good.
Got to be just a huge Short position here unless insiders are dumping and I don't think that is it...
54c has some shorting -- but it looks like we can break it this week. I think we did pretty good MWM :)
Looks like the bottom fishing is working :) Seems like we finally found support.
HA! Well, that's good new -- floatation sponges will keep ya afloat. LOL. still that hurts. Come the holidays (when LCDs sell like mad), BRLC will be looking good.
Ouch is right. It was worse; I had a $4.92 basis until I averaged down last Thursday at .70.
At least I am ahead on the sponge stock
Harvey
Er, ouch... Sorry to hear that Harvey... Well, hopefully we'll be fine. It's real company, all it needs is some support on L2.
Sure hope you are right Soapy. I am taking a beating on this stock with a basis of $2.12.
Harvey
I think there is support here (at least on L2) - just grabbed some 51s.
If it gets down to a quarter right before holiday shopping, I am loading up.
I dont have a large enuf stash of BC powders to watch this 4 digit trading. Need to save my supply for after the Buffett concert tomorrow night lol.
If you have materials for it, let me know.
Oh, I will be working the iBOX this weekend.
I agree -- there is value here. (Especially at the holdays...)
As for the bottom, I'll let the market take it's hammering today and wait. It's ugly out there right now.
it definetly has some value, I think it's a management issue and it looks like they are now gone...
Followers
|
11
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
351
|
Created
|
06/27/07
|
Type
|
Free
|
Moderators |
8-Jul-2008
On July 7, 2008, we and two of our wholly owned subsidiaries, Syntax Groups Corporation and Syntax-Brillian SPE, Inc., entered into an asset purchase agreement with Olevia International Group, LLC, an affiliate of TCV Group, one of our original partners for industrial and mechanical design and a current provider of plastic injection molded parts for our Olevia-branded high-definition LCD televisions. Under the terms of the asset purchase agreement, Olevia International Group, LLC will assume $60.0 million of our secured debt in exchange for the purchased assets. The asset purchase agreement is subject to the approval of the United States Bankruptcy Court for the District of Delaware in connection with the filing of our voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code as more fully described in Item 1.03 of this Current Report on Form 8-K.
The description of the material terms of the asset purchase agreement, attached hereto as Exhibit 10.85 and incorporated herein by reference as if set forth in full, does not purport to be complete and is qualified in its entirety by reference to such exhibit.
Item 1.03. Bankruptcy or Receivership.
On July 8, 2008, we and two of our wholly owned subsidiaries, Syntax Groups Corporation and Syntax-Brillian SPE, Inc., filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. We will continue to operate our business and manage our properties as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code.
A copy of the press release relating to the foregoing is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Board of Directors
Effective June 30, 2008, Vincent F. Sollitto, Jr., James Ching Hua Li, Bruce Berkoff, David Chavoustie, Yasushi Chikagami, and Max Fang resigned as directors of our Company.
Refernece: http://biz.yahoo.com/e/080708/brlc8-k.html
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |