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IMHO You NEVER said "warrants" - you said "cash" (and yes OWD I read your "thoughts" . Be accurate next time and say what you mean and mean what you say.
CASSY, IMHO that is BULL [pardont the pun]! That is not a FACT what proves that e.Digital is "out of money." Show us FACTUALLY any competent and independent factual statement that provides that the company is out of money. Rather, the FACTUAL information is that the company is in the process of raising ADDITIONAL capital to facilitate MORE business. IMHO you spin to the left and people should call you on your falsehoods.
As a fact, how do you know "they are out of money?" IMHO you continue to state fact without foundation.
FF: Please tell us how and where you can short this stock.
As far as I know, you cannot.
Comdex update-I was there yesterday and I could not locate anything of interest.
Gateway was in the Microsoft area, but business products only - they did not bring any consumer products (they told me that would be for CES).
http://www.skyguide.net/articles/200309/20030915_ealert.html
Alaska next month will begin offering a new in-flight entertainment option on transcontinental service to and from Seattle, and between Anchorage and Chicago. Called a digEplayer, it's a portable device on which passengers can select among nine movies, three TV shows and 10 hours of music. It will be free in first class, and available for rental in coach.
Skyguide for Cassy:
SkyGuide... Called a digEplayer, it's a portable device on which passengers can
select among nine movies, three TV shows and 10 hours of music. ...
www.skyguide.net/articles/200309/20030915_ealert.html - 1
Cassy-is this hype, too?
http://www.sitecrafting.com/workbench.php
Note: APS, Inc. digEplayer Web Application
and "in production"
APS, Inc. digEplayer Web Application in production:
http://www.sitecrafting.com/workbench.php
FF: IMHO you are either a very skeptical person, a very negative person or a wolf in sheep's clothing. If you see it from independent 3rd parties (like APS - I posted the link http://ebay.webyhost.com/sentinelAPS.htm )why do you continue to post with such, IMHO, a negative spin?
Link to multiple airlines: Alaska; Continental; Delta; Northwest; United; Virgin
http://ebay.webyhost.com/sentinelAPS.htm
The statutes have been in effect for many many years. The court simply confirmed that false and libelous posts on the internet can form the basis of a suit for damages against the false posters. I have and will encourage companies to pursue those posters who falsely post and commit libel. I am very please that we have a clear court opinion confirming that option.
Defamatory Internet postings are libel under Civil Code Sec. 45, not slander under Sec. 46. Plaintiffs may collect presumed damages for them and need not establish special damages. Internet postings are not by their nature so lacking in credibility that no reasonable person would regard them as true, nor need such postings be regarded as true to be defamatory. Failure of special verdict forms to require that jurors identify specific postings found to be defamatory did not require reversal where many of messages introduced into evidence could have been deemed libelous under trial court’s instructions. Publicly traded company and its executives were not limited purpose public figures where they did not inject themselves into any particular public controversy. Provision of injunction barring defendants from making future defamatory statements of a specified nature was unconstitutional prior restraint on free speech. Provision of injunction barring defendants from posting financial information about libeled company’s executives or employees, along with their residence addresses or the names or locations of their family members, was valid content-neutral speech restriction. Court lacked power to grant injunctive relief to individuals not joined as parties to the lawsuit. Pendency of appeal of trial court’s denial of anti-SLAPP motion did not automatically stay action under Code of Civil Procedure Sec. 916(a).
Varian Medical Systems, Inc. v. Delfino - filed November 13, 2003, Sixth District
Cite as 2003 SOS 5807
Full text http://www.metnews.com/sos.cgi?1103%2FH024214
Larry, I'll be there on the 19th and looking
It appears that a number of my posts have been deleted - FF denies he was responsible. Do you know who deleted my posts? If so, kindly advise.
Cassy-PROVE that Gateway would not or did not "deal' with e.Digital.
You make assumptions without factual support. Who, what, where and when FACTUALLY do you rely on for your bald assumptions?
Mark this: #50348
You may never see an admission, again
Comdex is week of Nov 17 - I'll be there on the 19th
According to this document at edigital.com [http://www.edigital.com/news/releases/pr102103.html], the e.digital Odyssey 1000 will soon take on a new shape and size : "..we licensed the Odyssey 1000 platform for a 1.8 inch hard disc drive-based form factor to a major Asian OEM for third party branding and distribution. We are pleased to report that the Asian OEM is in production and we expect the first branded units to be released to consumers in early November." http://www.austinv.com/
REPORT OF THE AUDIT COMMITTEE
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D03...
The Audit Committee is comprised solely of independent directors, as defined in the Marketplace Rules of The NASDAQ Stock Market, and operates under a written charter adopted by the Board of Directors on June 7, 2000. The Audit Committee oversees the Company's financial reporting process on behalf of the Board of Directors. The Company's management has primary responsibility for the financial statements and the reporting process including the systems of internal controls. In fulfilling its oversight responsibilities, the Audit Committee reviewed the audited financial statements in the Annual Report with management including a discussion of the quality, not just the acceptability, of the accounting principles, the reasonableness of significant judgments, and the clarity of the disclosures in the financial statements. The Audit Committee currently consists of two members and holds one position vacant.
The Audit Committee reviewed with Singer Lewak Greenbaum & Goldstein LLP, the Company's independent auditors for the fiscal year ended March 31, 2003, who are responsible for expressing an opinion on the conformity of those audited financial statements with generally accepted accounting principles, their judgments as to the quality, not just the acceptability, of the Company's accounting principles and such other matters as are required to be discussed with the Audit Committee under Statement on Auditing Standards No. 61, "Communications with Audit Committees." In addition, the Audit Committee has discussed with the independent auditors the auditors' independence from management and the Company including the matters in the written disclosures which were required by the Independence Standards Board. The Audit Committee also reviewed the independence letter from Singer Lewak Greenbaum & Goldstein LLP required by Independence Standard Board Standard No. 1, "Independence Discussions with Audit Committees."
The Audit Committee discussed with the Company's independent auditors the overall scope and plans for their respective audits. The Audit Committee meets with the internal and independent auditors, with and without management present, to discuss the results of their examinations, their evaluations of the Company's internal controls, and the overall quality of the Company's financial reporting.
In reliance on the reviews and discussions referred to above, the Audit Committee recommended to the Board of Directors (and the Board has approved) that the audited financial statements be included in the Annual Report on Form 10-K for the fiscal year ended March 31, 2003 for filing with the Securities and Exchange Commission. The Audit Committee and the Board have also recommended, subject to shareholder approval, the selection of Singer Lewak Greenbaum & Goldstein LLP as the Company's independent auditors for the fiscal year ended March 31, 2004.
By: The Audit Committee of the Board of Directors:
Date: October 20, 2003
/////
INDEPENDENT PUBLIC ACCOUNTANTS (Proposal Two)
On March 18, 2003, Ernst & Young LLP resigned as the Company's independent auditor. The audit reports of Ernst & Young LLP on the Company's financial statements for fiscal years 2002 and 2001 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or application of accounting principles, except that Ernst & Young LLP's report for the years ended March 31, 2002 and 2001 included an explanatory paragraph regarding the Company's ability to continue as a going concern. During the Company's two most recent fiscal years, and the interim period in fiscal 2003 to the time of termination, there were no disagreements with Ernst & Young LLP on any matters of accounting principles or practices, financial statement disclosure or auditing scope or procedure. The Company has authorized Ernst & Young LLP to respond fully to any inquiries of our successor accountants.
On March 19, 2003, the Audit Committee of the Board of Directors recommended and the Board of Directors approved Singer Lewak Greenbaum & Goldstein, LLP as the principal accountant to provide audit services, which included examination of the Company's financial statements for the year ended March 31, 2003. Review of unaudited quarterly financial information for fiscal 2003 was performed by Ernst & Young LLP on a timely basis prior to its resignation. Audit services were provided with the approval of the Board of Directors, which, among other things, considered the independence of the public accountants. Arrangements for non-audit services, if any, are made by management with the knowledge of the Board of Directors. The Board has selected Singer Lewak Greenbaum & Goldstein LLP to provide audit services to the Company for the fiscal year ending March 31, 2004. The stockholders are being requested to ratify such selection at the Annual Meeting.
/////
AUDIT COMMITTEE CHARTER
Authority
o The Board, by resolution dated June 7, 2000 established the Audit Committee.
o The Board adopted this Audit Committee Charter on June 7, 2000.
Purpose
The purpose of the Committee is to:
o Recommend the appointment of independent auditors for consideration by the Board and the shareholders of the Company;
o Review and appraise Internal Auditing's performance and plans; and
o Assist the Board in the discharge of its fiduciary responsibilities to the shareholders, potential shareholders and the investment community relating to the corporate accounting and reporting practices of the Company and the quality and integrity of the Financial reports of the Company and, in connection therewith, the assessment of the Company's accounting principles, reporting practices, internal controls, code of conduct and compliance with laws and regulations, and the independence of the independent auditors.
Duties and Responsibilities
Relationship to Independent Auditor
The Committee will:
o Review the independence of the independent auditor relative to the Company by:
o obtaining from the independent auditor a formal written statement affirming their independence and delineating relationships between the auditor and the Company as required by and in compliance with Independence Standards Board Standard No. 1, and discussing with the independent auditor any matters that might reasonably be expected to affect independence.
o reviewing the non-audit services provided by the independent auditor for any impact on independence.
o Inform the independent auditor as to Committee expectations:
o The independent auditor's client is the Audit Committee (and the Board).
o The independent auditor is to opine to the Committee as to the appropriateness and quality, not just the acceptability, of accounting principles and the clarity of financial disclosures. This includes providing judgments on the aggressiveness/conservatism of accounting principles and estimates.
o The independent auditor is to advise the Audit Committee of any areas requiring special attention.
o Review and approve the fee, scope and timing of the audit and such other services rendered by the independent auditor.
A-1
o Review the independent auditor's latest Peer Review results, its litigation status and any recent SEC or other disciplinary actions taken against it.
o Inquire of both management and the principal independent auditor:
o if any independent auditor other than the principal independent auditor has been engaged and, if so, why; and
o if any opinion has been sought from an independent auditor other than the principal independent auditor and, if so, why.
o Review and appraise the overall performance of the independent auditor annually.
o Recommend annually to the Board a firm of independent auditors to be engaged by the Company, after consultation with management, and if appropriate, nominate the independent auditor to be proposed for stockholder approval in the proxy statement.
Relationship with Internal Auditing
The Committee will:
o Review and concur with the appointment, replacement, reassignment or dismissal of the Internal Auditor.
o Review and appraise the Internal Auditor's performance annually.
o Inform the Internal Auditor that he is to advise the Audit Committee of any areas requiring special attention.
o Review and assess the adequacy of the Internal Audit Charter annually.
o Review and approve the annual Internal Audit Plan, including its scope, coordination with the independent auditor and staffing and budget requirements.
o Prepare a report of the audit committee, to be included in the proxy statement of the Company [beginning in 2001], which states whether the audit committee has (i) reviewed and discussed the audited financial statements with management;
(ii) discussed with the independent auditors the matters required to be discussed by Statement of Auditing Standards No. 61, as amended by SAS 90; (iii) received from the auditors disclosures regarding the auditor's independence required by Independence Standards Board Standard No. 1, and discussed with the auditors the auditors' independence; and (iv) state whether, based on the review and discussions noted above the audit committee recommended to the Board of Directors that the audited financial statements be included in the company's Annual Report on Form 10-KSB.
Accounting Principles, Reporting Practices, Internal Controls, Code of Conduct and Legal and Regulatory Matters
The Committee will:
o Review the appropriateness and soundness of the Company's policies and practices with respect to accounting and financial controls, including:
o the Internal Auditor's annual report on internal controls
o the risk assessment and review process in place to prevent a material financial statement misstatement
A-2
o the planned scopes of the internal and external audits, including their probability of detecting material fraud or control weaknesses
o the adequacy of EDP controls
o Review the financial section of the Annual Report to Shareholders, the SEC Form 10-QSB and appropriate proxy material by making inquiries of management, the General Counsel, the Internal Auditor and the independent auditor, including focusing on:
o the independent auditor's engagement letter
o a financial statement variance analysis comparing the current period to the prior period
o the completeness of the financial statements
o the appropriateness of accounting principles and any changes in accounting principles (including the reasons for and impacts of such changes)
o significant new or emerging accounting or reporting issues and their resolution
o the consistency of other disclosures with the financial statements
o any material accruals, reserves or other estimates and any charges against such accruals
o compliance with laws and regulations and the monitoring of compliance with the Company's code of conduct
o legal matters having potentially significant impacts on the financial statements (including how such matters are reflected in the financial statements)
o the management representation letter provided by management to the independent auditor
o the required communications from the independent auditor to the Audit Committee
o Review the SEC Form 10-QSB and other significant SEC filings, either subsequent or prior to their filing as deemed appropriate by management and the General Counsel, by making inquiries of management, the General Counsel, the Internal Auditor and the independent auditor.
o the independent auditor will conduct a SAS 71 Interim Financial Review prior to the Company's filing of its Form 10-QSB.
o Review the independent auditor's annual management letter findings and their dispositions by management.
o Review the significant quarterly internal audit findings and their dispositions by management, including:
o any audit findings from the review of executive officers' expense reports and perquisites.
o Review the results of capital project post audits.
o Periodically review the management delegation of authority process.
o Conduct or authorize investigation into any matters within the Committee's scope of responsibilities.
Administrative
The Committee will:
o Review the Committee's Charter annually and propose to the Board for its approval any recommended modifications.
o Assure that members, particularly new members, have the training necessary to carry out their duties.
o Assure that the Committee has sufficient resources to carry out its duties.
A-3
o Assess its own performance annually.
Membership
o The Committee will have a minimum of three directors.
o All Committee members will be "independent", as defined by the NASD.
o Committee members are required to have backgrounds and a minimum level of financial literacy necessary to carry out their duties.
o At least one member shall have more significant financial or accounting expertise.
o The Board will appoint the Committee members and a Chairman.
o The Board may fill vacancies on the Committee.
o The Board may remove a Committee member from the membership of the Committee at any time with or without cause.
Committee Meetings and Action
o A majority of the Committee members will be a quorum for the transaction of business.
o The action of a majority of those present at a meeting at which a quorum is present will be the act of the Committee.
o Any action required to be taken at a meeting of the Committee will be deemed the action of the committee if all of the Committee members executed, either before or after the action is taken, a written consent and the consent is filed with the Corporate Secretary.
o The Chairman will report from time to time to the Board on Committee actions and on the fulfillment of the Committee's duties under its charter.
o The Chief Financial Officer will be the management liaison to the Committee.
o The Committee Secretary will keep minutes of all Committee meetings, which will be distributed to all Board members.
o The Committee will meet at least once each quarter and at such other times as may be requested by its Chairman.
o The following management representatives should attend all meetings except executive and private sessions:
Chief Financial Officer General Counsel Controller Internal Auditor
Other management representatives shall attend as necessary.
o The Committee Secretary and the Chief Financial Officer will prepare a preliminary agenda. The Chairman will make the final decision regarding the agenda.
A-4
o The agenda and all materials to be reviewed at the meetings should be received by the Committee members as far in advance of the meeting day as practicable (which will normally be 6 days).
o The Committee Secretary should coordinate all mailings to the Committee members, to the extent practicable.
Line of Communication
o The Internal Auditor and the independent auditor will have a direct line of communication to the Committee and may by-pass management if deemed necessary.
o The Committee will meet privately with the Internal Auditor and with the independent auditor at least once annually.
o The General Counsel will report directly to the Committee with regard to legal compliance.
o The Committee may contact any employee in the Company, and any employee may bring before the Committee matters involving questionable, illegal or improper practices or transactions.
o Disclosure:
o The Committee will annually disclose in its [annual report on Form 10-KSB] the fact that this Charter has been adopted.
o The Committee will annually disclose in its [annual report on Form 10-KSB] that the responsibilities outlined in the Charter have been fulfilled.
o The Committee will disclose in its [annual report on Form 10-KSB] the current Charter at least every three years.
o The Committee will disclose in its [annual report on Form 10-KSB] whether or not, in the last fiscal year:
o management has reviewed the audited financial statements with the Committee including a discussion of the quality of the accounting principles as applied and significant judgments affecting the Company's financial statements;
o the independent auditors have discussed with the Committee their judgments of the quality of those principles as applied and judgments referenced (above) under the circumstances; and the Committee has discussed with the independent auditors the matters required by Statement of Auditing Standards No. 61, as amended by SAS 90.
o the members of the Committee have discussed among themselves, without management or the independent auditors present, the information disclosed to the Committee described above; and
o the Committee, in reliance on the review and discussions conducted with management and the independent auditors pursuant to this section, believes that the Company's financial statements are fairly presented in conformity with General Accepted Accounting Principles in all material respects.
A-5
End of Filing
© 2003 / EDGAR Online, Inc.
The report does NOT say that about EDIG.
Please be accurate!
(SAN DIEGO, CA – October 22, 2003) – e.Digital Corporation (OTC: EDIG) has scheduled a webcast for shareholders, investors, industry analysts, and members of the media to discuss the company’s second fiscal quarter ended September 30, 2003, as well as current business. The event will be carried live via streaming audio beginning at 1:30 p.m. Pacific Standard Time on Tuesday, October 28th.
This event is being webcast by CCBN and can be accessed at the e.Digital Events page: http://www.edigital.com/news/events.html. During the event, executive officers from e.Digital will give a brief presentation and answer questions submitted before the webcast. To submit a question, please send an email to investor@edig.com by Monday, October 27th.
An audio replay of the webcast will become available through the same link listed above approximately one hour after it concludes and will remain available online for approximately 30 days.
Disclaimer: e.Digital has contracted for Internet audio streaming services through a reputable outside service provider. Although the company believes this service provider to be both reliable and effective, the company can make no guarantee as to the sound quality, ease of access, or level of customer service experienced by each participant.
# # #
CONTACT:
Investor Relations:
Robert Putnam
(858) 679-3168
robert@edig.com
PRESS RELEASE
E.DIGITAL AND DIVXNETWORKS PARTNER
TO SUPPLY THE TECHNOLOGY
INSIDE APS’ DIGEPLAYER™
High-Quality DivX® Video Technology and e.Digital’s
Hardware and Firmware Make First Run
Movie Content Secure In the Skies
(San Diego, CA – October 20, 2003) – e.Digital Corporation (OTC: EDIG) today announced that APS’ digEplayer, designed, developed and powered by e.Digital technology, will use patent pending video and security technology supplied by DivXNetworks. E.Digital’s technology includes proprietary hardware and firmware to secure the content available on the portable video-on-demand entertainment system.
Check this out: http://www.iavias.com/eng/product-mec-deluxe.htm
I hope that e.Digital has something like this is the pipeline.
Any Cassie, what is your background and credentials?
Glossary of auditing terms
"going concern"
The idea that a company will continue to operate indefinitely, and will not go out of business and liquidate its assets. www.investorwords.com/cgi-bin/getword.cgi?2189
--------------------------------------------------------------
The going concern concept is relevant to auditors because in mnay jurisdictions the going concern assumption is implicit in the application and interpretation of accounting policies and, unless otherwise stated, this assumption is assumed in the preparation of the financial statements. (In broad terms, an entity is considered a "going concern" if it is able to pay its debts as and when they fall due.) Where the going concern assumption does apply, an auditor needs to satisfy him or herself that it is appropriate for management to prepare financial statements on the going concern basis. Therefore, when the auditor forms an overall opinion on the financial statements, the auditor considers the potential for going concern problems.
Matters that an auditor may consider include:
financial indications, such as a deteriorating accounts payable ratio, a deteriorating current ratio, fixed term borrowings approaching maturity without any prospect of replacement financing being available.
operating indications, including loss of key management without replacement, loss of a major market segment, correspondence from suppliers requesting more stringent credit terms such as COD.
litigation, and in particular, whether there are any pending legal proceedings that could result in a judgement that may be incapable of being met.
In forming an opinion on the appropriateness of the going concern assumption, the auditor considers events that may occur (or have occurred) in the 18 month period following the current balance date.**
In order to form an opinion about the appropriateness of the going concern assumption, auditors gather evidence using a combination of the following audit procedures:
inspection of: correspondence files, minutes of directors' meetings, current management accounts, cash flow forecasts, submissions for capital expenditure.
inquiry of senior management regarding future plans.
analytical procedures.
management representation letter.
legal representation letters.
www.abrema.net/abrema/going_concern_g.html
This result suggests that auditors should recognize an important distinction between factors that identify a going concern problem and the factors that should be evaluated to decide whether there is substantial doubt about the ability to continue as a going concern.
www.nysscpa.org/cpajournal/old/14522928.htm
and on and on and on and on....................
The "going concern" language is CPA BOILER PLATE junk language and you know it.
Why to you persist with that nonsense?
You really do need assistance.
Cass-anyone who cares knows my name (as do you).
But Anyway: "The audit reports of Ernst & Young LLP on the financial statements of the Registrant for fiscal years 2002 and 2001 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or application of accounting principles"
http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=2071465&doc=1&total=7&back=1
Would you want E&Y to be your auditor if they did this?
"Ernst & Young charged over violations in PeopleSoft audits
Ernst & Young has been charged by the US Securities & Exchange Commission for violations related to its financial audits of PeopleSoft between 1994 and 2000.
The financial regulator said the charges arose from Ernst & Young's "joint business relationships" with PeopleSoft.
The SEC said that, as a result, the accounting firm "violated the auditor independence requirements imposed by the Commission's rules and by generally accepted auditing standards".
http://www.ananova.com/business/story/sm_591967.html?menu=
E & Y is a troubled company. For example:
Equitable auditors bid to stop damages claim
Ernst & Young, the former auditor to Equitable Life, is launching a High Court bid to block damages claims against it for up to £2.6 billion following allegations of professional negligence.
07:49 Monday 13th January 2003
Ernst & Young disputes charges over PeopleSoft audits
Ernst & Young is disputing federal allegations that it violated rules designed to keep accountants independent from the companies they audit.
12:47 Tuesday 21st May 2002
Ernst & Young charged over violations in PeopleSoft audits
Ernst & Young has been charged by the US Securities & Exchange Commission for violations related to its financial audits of PeopleSoft between 1994 and 2000.
06:44 Tuesday 21st May 2002
http://www.ananova.com/business/?keywords=Ernst+%26+Young+LLP
Any report on e.DIGITAL CORPORATION WEBCAST FOR MONDAY, MARCH 24, 2003??
Case-you obviously cannot stand anything positive--keep trying
BUT ANYWAY-are you now or have you ever been a VP, a Senior VP, a CEO, a CFO, Director or officer of any public compnay? If so, when and which?