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.
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.
Kodak's monthly reports show slimmer company
Considerable headway made in cutting costs, but U.S. sales drop
To no one’s surprise, January 2012 marked a particularly low point in Eastman Kodak Co.’s history. The same month Kodak’s U.S. operations filed for Chapter 11 bankruptcy protection, they racked up a $100.3 million loss.
By January 2013, things were somewhat better.
The Rochester-based printing and imaging company on Thursday filed its latest monthly operating report required as part of its bankruptcy. And the numbers show a company that has made considerable headway in cutting costs and running at least closer to profitability by some metrics.
For January 2013, Kodak’s U.S. operations showed a modest gross profit of $11.9 million. Once such expenses as R&D, administration, restructuring, and all the millions being spent on bankruptcy itself were added in, Kodak for the month had a net loss of $58 million.
But the January 2012 and 2013 reports show a Kodak that has made considerable headway in cutting its costs. The company’s U.S. operations had sales of $127.9 million in January of this year — a notable drop from the $160 million or so a month in revenues the company had been showing in recent reports. No reason was given for the sudden drop.
Meanwhile, Kodak spent more than $38 million in January of this year on back-office operations, a far cry from the nearly $60 million spent in January 2012.
In January 2012, Kodak had a gross loss of $21.8 million before even adding in such costs as those back-office expenses.
January 2013’s $11.9 million gross profit marked the fourth time in the past five months that the company was in the black.
The monthly reports only give a partial picture of how the company is doing, as they only include the U.S. operations and not its international businesses. Kodak in March expects to issue its 2012 overall financial figures for its operations around the world, which will give a clearer snapshot of how the company is both changing during its bankruptcy and how close it is to its goal of again being profitable.
For January, Kodak ended the month with $279.6 million in cash and cash equivalents.
According to Kodak, it has a little more than $1 billion in cash and cash equivalents socked away worldwide.
http://www.democratandchronicle.com/article/20130228/BUSINESS/302280061
I think that may be a mistake by the writer, because the loan they are arguing against is only under the terms of them selling at minimum a portion of the patents for at least 525 million... Unless they are holding the DI patents for licensing and selling a different patent package. I'll have to go back and look. Every single bone they throw us, I find myself going back to re-read the wording closely on something else. Thanks for the article.
Hey Kimble,
It's been a long time since your platinum days and you probably don't hear it enough SO... you were right. Well done. You deserve it. I know you fight a tough battle against BA. At the time, I didn't want to hear it. I believed in the company. It was easy to dream. But the truth is they robbed us.
I sold half at .065 mostly because you were there. I made a small profit on my total purchase and kept the other half to see where it would go. So here we are. Never thought this other half would look so small.
So this is a genuine thank you.
I'm looking back at these past posts. I see the last time PDOS4LIFE had written was 4-15-12 about some health concerns. I hope he's ok. It's horrible what these guys have done to people.
Thanks His,
Just saw your post on the other board, but was out for a while and that thread had a mind of it's own...
A good positive outlook in that article... It's nice having confirmation that the DI patent sale continues...
"Perez stressed that the sale of many of Kodak’s digital imaging patents had not been put on hold - despite reports to the contrary - but remained a complex, ongoing process in which the company is still making progress."
"We're trying to get the best possible deal for the IP - we could sell the IP very quickly but by waiting a little longer we’re trying to get the best possible deal,"
So if and when we get news of a sale, it should be great!
I especially like, "we have a lot of cash outside the US and now we have cash in the US because we have a deal"
Most importantly, the future business plans looking very promising...
Thanks His for taking the time to post this, you make some very great points.
Just a thought...
Maybe revenues from the patents were lower in recent years due to Kodak's anticipation of selling the patents. Maybe they didn't want to hurt the final sale price of the patents by pursuing any further or new licensing agreements. If these patents ARE all that, maybe Kodak saying, "maybe we'll keep 'em" is a BIG deal.
With Kodak not pursuing patent infringement and licensing overly aggressively more recently, these big company's have been pretty comfy keeping these patents in a peaceful middle ground (I think Mic put it best when he compared this in terms of countries and nukes). If Apple/Google are considering all joining together, they are trying to keep these patents on peaceful middle ground for cheap. Kodak is saying, "no, this won't work for us. If we keep them, we'll use them." maybe this is less of a retraction on the sale and more of a threat, with a hidden message.
Maybe Kodak can cut a deal with a patent troll to pursue infringement and licensing aggressively...
I don't know how this might help us in the short term, apart from Kodak's threat being appreciated for what it really is and driving the bids up.
If these patents are strong enough to block imports, these guys can't settle for anyone else owning them... Including Kodak... who they can't get to join their consortium.
Just me thinking out loud....
I agree, the mornings are usually strong then we have these substantial dips midday and usually recover in the afternoon. The market seems to be extra sensitive on a big day like today.
Whelp, out of posts for the day... I think. GLTA. Should have saved a post in anticipation of a celebration later on!
Hope to see you at the finish line! Smiling.
I don't know of a specific time for the auction to end, but the winning bidder should be named today by 5pm...
"PLEASE TAKE FURTHER NOTICE that the Debtors shall declare the Successful Bid(s) no later than August 13, 2012, at 5:00 p.m. (ET) or such other date as ordered by the Bankruptcy Court or as modified pursuant to the terms of the Bidding Procedures."
http://www.kccllc.net/documents/1210202/1210202120709000000000005.pdf
Heck yeah!!! It's been a long time waiting!
Yeah, this article was a bit ridiculous on the vague side, just like the last. however a couple guys on the yahoo message board picked up on a potential 3rd party in the bidding process, private-equity firm Vector Capital Corp., which was mentioned here. Monday is going to be pretty exciting. Do or die for me...
It's also my opinion that it has limited and expedited Apple's merciless claims against a few of these patents... It may have been difficult to timely compete with Apples infinite bank account in continuous litigation outside of BK. getting a fair price for the patents would have been difficult without clearing a few of these issues up. Like a big brother helping out with a bully.
Nice post. They may have been bidding on George Eastman's toe nail for all we know... Probably the big one though. That's kind of steep.
The short volume was small today (percentage wise). 3,608,479 short today on volume of 15,137,337 is a relatively low number compared to the way this stock has been trading... I would think if this was truly bad news the number of shorts today would have been a lot higher.
As a paranoid person and an amateur conspiracy theorist, it almost looks as if that WSJ article and pre-market trade, we're put in place to manipulate the share price down for the shorts. It was the only way some of these guys were ever going to get out before the auction. How else would they get out? Especially if/when this sale goes nuclear.
With 21,028,363 short on 7-13-12, I wonder how bad they needed this to happen. I bet we regroup tomorrow and continue the move up on our own merits now.
All my humble opinion... And I'm kind of stupid... Also paranoid.
I don't think these bids mean anything except that these guys are permitted to bid in the auction on Wednesday. so i don't think it matters if they are leaked. It is my understanding, that these are just the opening bids to Qualify as a bidder in the patent auction scheduled for Wednesday, August 8th... More of a formality just to get in the door... Just so they don't have any joe schmoes running around in there with their checkbook and felt pen...But, of course, correct me if I am wrong.
As an example, when you bid on eBay, do you bid the full amount you want to pay and watch yourself lose immediately? Or wait until there is 2 seconds left and then bust it all out?
Also, a stalking horse bid may have a higher opening bid because there is an incentive to doing so... A possible break up fee and maybe some participation in the auctioning rules but it doesn't necessarily mean the final bid will be any higher than it would be with this process. The incentive to bidding high here is possibly driving the price up beyond what you are able to pay (not that i would mind-but these guys aren't stupid). Wait till the last 2 seconds behind closed doors!
I think Kodak holds the cards here but time will tell...
Apple and Microsoft’s patent troll spells trouble for smartphone innovation
Apple and Microsoft are at it again. Emboldened by their successful purchase (via the consortium Rockstar Bidco) of Nortel’s patent trove in February, the would-be competitors have allegedly teamed up with the notorious patent troll Intellectual Ventures (IV) to bid for Kodak’s patents. With IV serving as the “attack dog,” Apple and Microsoft can go after their competitors in the mobile device market without opening themselves up to countersuits or public backlash. As an antitrust expert, I find this anticompetitive behavior particularly alarming.
We’ve seen this before. In the patent world, the best defense against frivolous patent litigation is a strong portfolio of your own. In the Nortel auction, Google signaled early on that it was interested in buying the patents to help level the playing field. To thwart Google’s defensive maneuver, Apple and Microsoft formed Rockstar Bidco with RIM, Erickson, Sony and EMC to win the auction with a staggeringly high bid of $4.5 billion — five times Google’s initial bid, and well beyond the estimated value of the patents. Microsoft was a strange addition to the bidding partnership, because it already had a licensing deal covering Nortel’s patents. Although the purchase was obviously targeted at suppressing Android, the Department of Justice still cleared it, largely because Google’s subsequent acquisition of Motorola Mobility (and their patents) seemed to even things out.
After the successful Nortel bid, Rockstar Bidco’s members founded and funded a new troll entity, Rockstar Consortium. Apple and Microsoft transferred certain key patents (which Wired called “warheads”) to the consortium, which serves its members by attacking their competitors with frivolous patent infringement lawsuits as a way of bleeding other companies dry. The organization also pays a percentage of its licensing and royalty revenue back to the founding companies.
The Department of Justice’s approval of the Nortel transaction, and its subsequent inaction in light of the transfer, appears to have had the unintended consequence of sanctioning the use of patent trolls. These firms no longer see the need to create shell operations. Instead, Apple and Microsoft have cut to the chase and openly enlisted the most aggressive and troubling of the patent trolls to collect and wield patents against their competitors.
Apple’s participation in this new unholy trinity is especially hypocritical. In litigation before the International Trade Commission earlier this year, the company alleged, and convinced the ITC, that various patents in the Kodak portfolio are invalid. Now, despite its past representations, Apple wants to acquire these patents to attack the Android ecosystem.
Meanwhile, a rival bidding group has formed in the Android ecosystem. Its members include HTC, Samsung, LG Electronics, Google and the patent aggregator RPX Corporation, whose business model is devoted to defensive patent licensing to fend off attacks from trolls.
The decision to pursue the Kodak patents should put to bed any argument that Apple and Microsoft are merely protecting their own innovations. These companies are working together to stockpile patents from other innovators to not only prevent Google and its partners from defending themselves, but also to mount further attacks against Android through transfers to patent trolls.
Ultimately, consumers will suffer if Apple, Microsoft and IV are successful. An even distribution of patents means more cross-licensing deals between competitors with little to no money changing hands, keeping the cost of products down. But when two large competitors team up with patent trolls to buy a dominant share of the patents, they can limit competition to the point where companies struggle to, or can no longer, compete fairly.
If the Apple-Microsoft consortium wins the bid for the Kodak patent portfolio, it will no doubt empower them to continue and expand their strategy of filing predatory patent lawsuits against Android handset makers. It is imperative that we take a stand against collusive intellectual property abuses and the devious use of patent trolls to target competitors. Otherwise, we risk litigating ourselves out of innovations in mobile telecommunications technology, while prices continue to skyrocket.
Hopefully the Department of Justice and Federal Trade Commission are taking notice this time.
David Balto is a former policy director of the Federal Trade Commission, attorney-advisor to Chairman Pitofsky, and antitrust lawyer at the Department of Justice. He currently works as a public interest antitrust lawyer in Washington D.C.
http://gigaom.com/2012/08/05/apple-and-microsofts-patent-troll-spells-trouble-for-smartphone-innovation/
Exactly,
Hopefully Apple and Samsung keep this in the back of their minds while bidding against each other.....
http://in.reuters.com/article/2012/07/30/us-apple-samsung-trial-idINBRE86Q16X20120730
Also here is an interesting visual of patent lawsuits from an article on 5-29-12. Let's drop a bomb in the middle of this!
http://media.bestofmicro.com/5/M/338458/original/Full%20Infographic%20Tech%20Wars.png
this was the article, not much said, but just for complete information:
http://www.tomsguide.com/us/Infographic-Breaks-Down-Patent-War,news-15344.html
I believe the auction for the patents will be held on August 8th and Kodak will announce the winning bidder on August 13th.
Hey guys,
Don't know if anyone here is interested in a company currently in bankruptcy but... I've been following Kodak EKDKQ for quite a while now in their auctioning of patents... Friday after market close, it appears a leak on two consortiums bidding against each other for the kodak patents. one led by Apple with Microsoft and intellectual ventures bidding AGAINST Google, Samsung, HTC, LG, and RPX. With these powerhouses in competition for the patents, I'm hoping for a big move up the next few weeks, starting Monday. Bids on the patents are due July 30th, auction August 8th, and announcement of winning bidder August 13th. It's a risk on BK, I'll be holding, but if you're not wanting to take the long risk, may make for a nice quick profit at the least...
21,028,363 short sales as of 7-13-12
271,850,671 shares outstanding.
Current share price .275 (.278 by my trade account)
Here was one of those leaks... This came out after hours, so no trading on this news yet...that I know of at least....
http://www.businessinsider.com/apple-and-google-are-bidding-on-kodaks-patents-2012-7
Also this one....
http://www.engadget.com/2012/07/27/apple-google-reportedly-in-rival-groups-to-buy-kodak-patents/
All in my opinion, of course, I've not been trading all that long and i'm kind of an idiot, so do what you like with your own dd...
Thanks mic, always appreciate your insight and understanding of what is going on here. This is going to be a great weekend. Might have to call in sick on Monday just to enjoy this a bit more....
Don't know. I would guess all of the uncertainty Apple has enjoyed spreading about over these patents would have a lot to do with it. Hopefully this auction will bring a HUGE bid and some of those answers... Or at least a huge bid without the answers would be fine. I'm not minding the basement as long as we are coming back upstairs.... I want to check out the attic! It seems a lot has fallen into place these last few weeks with Gropper approving the patent auction, and now with judge Daniels deciding to leave it in the bankruptcy court for now. It should be an exciting next few weeks....
Patent bids are due July 30th, auction scheduled for August 8th, and Kodak plans to announce the winning bidder August 13th.... So we'll have a lot of answers soon!
Kodak, Apple patent fight to remain in bankruptcy court
NEW YORK (Reuters) - Apple Inc lost on Thursday a bid to transfer its patent dispute with Eastman Kodak Co out of bankruptcy court, a move that could have complicated the photography company's plan to sell the technology.
U.S. District Judge George Daniels in Manhattan quashed Apple's bid to have him take up the patent dispute instead of the bankruptcy judge to whom the lawsuit was assigned.
In a lawsuit last month in U.S. bankruptcy court in Manhattan, Kodak said Apple, the largest U.S. company by market value, wrongly claimed to own 10 patents arising from work that the companies did together in the early 1990s.
Privately held FlashPoint Technology Inc also claimed ownership through an assignment from Apple, which spun it off in 1996, and is also a defendant, Kodak said.
The patents include technology that helps camera owners preview photographs on LCD screens.
They are part of Kodak's digital-capture portfolio, which the company said includes more than 700 patents for devices such as digital cameras, smartphones and tablets, and has generated more than $3 billion in revenues since 2001.
In the case before bankruptcy judge Allan Gropper, Kodak has argued that Apple's claims to the patents are time-barred and are designed to cloud an expected auction of the patents in early August. Gropper has yet to rule on the matter.
"These issues are teed up before judge Gropper," Kodak lawyer Brian Glueckstein said at Thursday's hearing. "The claims were barred years ago."
District Judge George Daniels, at the end of Thursday's day-long hearing, said he agreed with Kodak that the dispute should remain in bankruptcy court, at least until the judge there rules on some of the key issues.
Gropper should have "an opportunity to render a decision on the motion and to have an opportunity to control and move forward the process," Daniels ruled.
Apple lawyer Gregory Arovas argued that the dispute involves substantive patent law, which would be best addressed by a federal district judge and required "mandatory withdrawal to district court."
Kodak owns about 10,700 patents overall and has hired Lazard to help market the digital-capture portfolio and a digital-imaging portfolio, which includes more than 400 patents. It said more than 20 possible buyers have signed confidentiality agreements.
Patent sales are needed under terms of a $950 million loan that Kodak obtained to keep operating while in bankruptcy.
Rochester, New York-based Kodak filed for Chapter 11 bankruptcy protection on January 19.
Apple is based in Cupertino, California, and FlashPoint is headquartered in Peterborough, New Hampshire.
The cases are Eastman Kodak Co v. Apple Inc et al, U.S. Bankruptcy Court, Southern District of New York, No. 12-ap-01720 and Eastman Kodak Co v. Apple Inc et al, U.S. District Court for the Southern District of New York, No. 12-cv-4881.
The main bankruptcy case is In re: Eastman Kodak Co et al in the same court, No. 12-10202.
(Reporting By Basil Katz; Editing by Tim Dobbyn)
(c) Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp
http://www.cnbc.com/id/48344761
That's awesome, thanks for sharing that. Just out of interest, I'll be doing some digging myself later on tonight.... I bought an old Kodak home movie projector the other day for kicks... I have nothing to play through it yet though. It's amazing how far we have come.
New patent....
Eastman Kodak Assigned Patent for Image Path Light Intensity Sensing During a Blanking Period Between a Left-eye Light Beam and a Right-eye Light Beam in a Stereoscopic Light Projector
http://www.laserfocusworld.com/news/2012/07/24/eastman-kodak-assigned-patent-for-image-path-light-intensity-sensing-during-a-blanking-period-betwee.html
Still, August 13th just around the corner, bringing our winning bidder....
Not enough support i guess....
Kodak Loses Case Against Apple, RIM on Imaging Patent
Eastman Kodak Co. (EKDKQ) (EKDKQ) lost its patent case against Apple Inc. (AAPL) (AAPL) and Research In Motion Ltd. (RIM) over digital image-preview technology, a U.S. trade agency said today in a decision that could hurt the company’s efforts to get a high price selling its patents.
Kodak said it will appeal.
The U.S. International Trade Commission upheld a judge’s findings that neither Apple nor RIM violated Kodak’s rights in the patent. The commission said it agreed with the judge that the patent claim was invalid. Its reasons for the decision will be released once both sides have a chance to redact confidential information.
Kodak has been seeking a victory to force Apple and RIM to pay licensing fees and bolster the value of the patent portfolios Kodak intends to sell. Kodak said in a court filing that Apple alone owes more than $1 billion in royalties. The dispute has dragged on for about 30 months, almost twice as long as a typical ITC case.
The patent’s validity “has been upheld in previous litigation at the ITC, and was affirmed by the U.S. Patent and Trade Office in the face of two separate challenges, so we are confident that its validity will ultimately be upheld,” Chris Veronda, a spokesman for Kodak, said in a statement.
Kristin Huguet, a spokeswoman for Apple, said the company had no comment.
The patent in the case is in one of two portfolios that Kodak is selling, which may be its most valuable assets. One group includes patents for digital-capture technology and the other covers imaging systems and services.
Appeals Court
Kodak can challenge the decision at a federal appeals court that specializes in U.S. patent law.
Kodak said last month that 20 parties had signed agreements to view confidential information ahead of potential bids for its two patent portfolios. The company plans to announce winning auction bidders Aug. 13.
Kodak said it has generated more than $3 billion by licensing the digital-imaging patents to users including Samsung Electronics Co., LG Electronics Inc., Google Inc.’s Motorola Mobility unit and Nokia Oyj.
Kodak, which sought Chapter 11 bankruptcy protection in January, filed the ITC case in January 2010. The dispute has dragged on longer than the typical agency case because the original judge retired shortly after the commission told him to reconsider aspects of his findings, and proceedings were delayed until a new judge was hired.
Research Agreement
Apple, based in Cupertino, California, has claimed it is the true owner of the image-preview and other Kodak patents because of a research agreement between the companies in the 1990s. That contention was rejected in the ITC case, and is pending in a separate lawsuit.
Kodak Chief Executive Officer Antonio Perez in March 2011 said a victory at the ITC could force a settlement that would generate $1 billion in new revenue for the Rochester, New York- based company. Since then, Kodak said in a bankruptcy filing, potential damages have continued to rise.
Apple and Waterloo, Ontario-based RIM both deny infringing the patent and challenged its validity. ITC Judge Thomas Pender in May said the patent was invalid because it was an obvious variation of earlier work by others related to image processing.
The judge said that, were the patent valid, Apple’s iPhone 3G and RIM’s BlackBerry phones would infringe it, while the iPhone 3Gs and iPhone 4 would not. The commission said it agreed with that finding.
Saving Energy
The patented feature, which Kodak claims is used in all modern cameras, saves energy by previewing low-resolution versions of a moving image while recording still images at a high resolution. Pender said it would have been obvious in light of earlier inventions related to image processing.
Kodak has another case against Apple at the ITC involving different patents. That case, which also targets mobile phones made by HTC Corp., is scheduled for trial in February.
Today’s case is: In the Matter of Certain Mobile Telephones and Wireless Communication Devices Featuring Digital Cameras, and Components Thereof, 337-703, U.S. International Trade Commission (Washington).
To contact the reporter on this story: Susan Decker in Washington at sdecker1@bloomberg.net
To contact the editor responsible for this story: Bernard Kohn at bkohn2@bloomberg.net
http://www.businessweek.com/news/2012-07-20/kodak-loses-case-against-apple-rim-on-imaging-patent
Another nice letter of support. This one is from congresswoman Louise Slaughter....
https://edis.usitc.gov/edis3-external/761170-485687.pdf?sp=ZH4sIAAAAAAAAAFvzloG1uIjBND2%2FTK%2B0OLMkWa8ksSC1uKSoUi81Lz0zL1XPNSWzODg1uSQzPy84tagsMzk1ILEoMTe1JLXoPxB8qdrSzMTA7MPAlZKfXJqbmlfimVLCIOCTlViWqJ%2BTmJeu75Ofl27tw8BZDDHEM6WQoY6B0YdBECoQkl8QkppbEFqUWcLAB9GXl1qiHxrkaV1RAHQbH0hID2SUHtio7icTzvQr32diYPRiYC1LzClNrShiEEAo8ivNTUotalszVZZ7yoNuJgaGigIGEGDPNC8GWc0C5nHPDSoAAFHg8tD9AAAA
That's some strange volume today, with a lot of interesting buys (100000, 100000, 99800, 100, 100, 99800, 100, 100).... this stock is great for people interested in numbers. KIWB always has something brewing.
Well then, thank's for the link!
Thanks Mic,
This board is quiet at strange times... Here's one link posted by kodax00 on the yahoo message board... (his profile pic looks the same as yours - or is that you as well?)
http://finance.yahoo.com/news/kodak-wins-approval-auction-digital-000900456.html
Great find! Love the support to get MOVING!
Kodak Seeks Expressions of Interest in Its Patents by Tomorrow
Eastman Kodak Co. (EKDKQ), the photography pioneer that filed for bankruptcy in January, is seeking expressions of interest in its digital-imaging patents by tomorrow, the first step in an auction of the technology.
At this stage, Kodak is only determining who may want to bid on the portfolios, rather than taking formal offers, the Rochester, New York-based company said.
The ultimate price may hinge on the outcome of Kodak’s case with the U.S. International Trade Commission, which is deciding whether Apple Inc. (AAPL) and Research In Motion Ltd. (RIM) violated patents covering image previews on cameras. Judge Thomas Pender is due to give his ruling by May 21. A decision against Apple and RIM may lead the companies to license or buy Kodak’s technology.
Chris Veronda, a spokesman for Kodak, declined to comment, as did Apple’s Steve Dowling and RIM’s Heidi Davidson.
Kodak is offloading the digital-imaging patents as part of a plan to shrink the company and focus on printing rather than photography. It has until June 30 to file the patent-bidding procedures, which typically name the bidder preferred by the seller, also known as the stalking horse. Once the stalking- horse offer is made public, other potential buyers can submit competing bids.
Kodak is selling two portfolios of patents: one related to digital capture, known as DC, and another covering the Kodak imaging systems and services, known as KISS.
Patent Value
Together, the technology is valued at between $2.21 billion and $2.57 billion, based on an estimate by 284 Partners LLC, a patent advisory firm hired by Kodak and cited in a debtor’s motion it filed before a U.S. bankruptcy court in January.
Envision IP, another patents adviser, estimated in March that the net present value of the two Kodak portfolios would be between $2.08 billion and $2.21 billion, “assuming that Kodak’s forecast of $250 million to $350 million in annual recurring licensing revenue is accurate.”
Apple, Facebook Inc. (FB), Google Inc. (GOOG) and Microsoft Corp. have been snapping up intellectual property to protect themselves against infringement litigation.
Kodak hired Lazard Ltd. to sell its patents last year when it was still trying to avoid default, and then retained the firm to sell its portfolio out of bankruptcy.
To contact the reporter on this story: Serena Saitto in New York at ssaitto@bloomberg.net
To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net; Nick Turner at nturner7@bloomberg.net
http://www.bloomberg.com/news/2012-05-14/kodak-seeks-expressions-of-interest-in-its-patents-by-tomorrow.html
Hope so, just came across this article in regards to Apple and Samsung CEO's beginning settlement talks on May 21st in reqards to ongoing litigation. Find it interesting that they picked the 21st, same day the initial ITC ruling should be out... Also considering the recent alliance between Kodak and Samsung. Wonder if there is any more to this... They should have an idea of where they stand by this time.
http://www.digitaltrends.com/international/ready-to-settle-apple-and-samsung-ceos-to-meet-may-21-22-for-settlement-talks/
This video from the Washington Post was posted on the Yahoo message board by stockmessiah. Figured I'd bring it over here as well...
Dennis Strigl who sits on the BOD for Kodak states Kodak patent portfolio is "very healthy"
Starts in on Kodak at about 3:49. Whole video is worth watching though.
http://www.washingtonpost.com/business/strigl-says-apple-products-help-wireless-carriers/2012/04/03/gIQA28lwtS_video.html
Nice, thanks. Looking forward to 8th.
Just curious, would it not be a 10-k due on March 30th or am I reading that wrong?
And one on solar cells:
It has been a rough several years for Eastman Kodak, the 120-year-old film and, now, digital imaging company. The pain intensified last week with the announcement that the iconic company will endure a painful bankruptcy restructuring and a US$950 million lifeline of financing from Citibank. While its 1993 spinoff, Eastman Chemical, has thrived and become a Fortune 500 company, Kodak has sputtered. The company sat on the digital technology one of its employees invented in 1975, and years later, when its management realized that Asian companies could produce superior digital products for far cheaper, Kodak’s market dominance had disappeared. Meanwhile, its long and heated rivalry with Fuji became a one-sided smackdown with the Japanese competitor coming out far ahead.
But could Kodak come back? One opportunity lies in thin-film solar technology. The company is partnering with Natcore Technologies, a New Jersey-based startup, to create flexible solar cells.
The process involves using a liquid phase deposition process that covers carbon nanotubes with solar semiconductor material. The results are microscopic thin and flexible solar cells. Natcore, which was awarded a patent for the process last fall, says that this technique could be just as efficient as the conventional silicon cells currently on the market, but would be cheaper to manufacture. In fact, the cost could be reduced as much as half, because they could be produced on Kodak’s equipment that at one time churned out photographic film. While thin film solar has created excitement among solar aficionados, its efficiency still lags behind the dominant silicon offerings available.
Some experts say that no matter how advanced the technology is, there are hurdles to bringing the product to market. An oversupply of solar panels, in part because of cheap exports from China, have resulted in low prices. Investors, however, are bullish on Natcore’s potential and closed on a private placement deal last week. With a bevy of startups entering the solar market, and established companies including Panasonic and Dow looking to revamp their business models, the future looks great for solar energy customers. Companies in this crowded space, however, face a highly competitive landscape and thin profits.
For Natcore, its potential looks bright if its flexible and efficient solar product can scale. Kodak, however, is on thin ice. Close to selling off some of its lucrative patents, and having one year to submit a reorganization plan to bankruptcy court, the former camera and film giant will need more partners like Natcore to keep from shuttering. Kodak’s culture of complacency and arrogance will also have to change; there is no mention of Natcore on its own site.
SOURCE: http://www.triplepundit.com/2012/01/kodak-natcore-film-solar/
http://solarknowledge.blogspot.com/2012/02/kodaks-new-film-solar.html
Found a couple neat articles on Kodak....
One about new touchscreen technology:
Eastman Kodak Co. and the Conductive Polymers Division of Heraeus Precious Metals GmbH & Co. KG, have achieved a major technological advance in the development of transparent conductive films for projected capacitive touch screens.
The companies have jointly announced that they have created a projected capacitive touch screen with Kodak HCF-225 Film/ESTAR™ Base as the transparent conductive component featuring completely invisible patterns, marking a change in the manufacturing of touch screen displays for handsets and tablet devices.
The invisible patterning process utilizes Heraeus component technologies, whereby a conductive pattern is screen printed onto Kodak HCF-225 Film/ESTAR™ Base using Clevios™ SET S - a masking polymer. Clevios™ Etch is then used to create the non-conductive areas. After the process is completed, the masking polymer that protected the conductive pattern is removed.
The result is a touch screen manufactured according to standard industry practices that provides improved touch performance, flexibility, stability, transparency, reduced haze and neutral color profile - as a cost-effective alternative to patterned indium tin oxide (ITO) films.
"Today's PEDOT films are up to 100 times more conductive than they were 10 years ago," said John Bayley, European Sales & Marketing Manager for Heraeus Precious Metals GmbH & Co. KG's Conductive Polymers Division. "Polymer systems have the advantage over ITO films, which are known to be brittle. The revolutionary films from Kodak bring flexibility and functionality for device designers."
"Further, the new Clevios™ Etch technology from Heraeus enables conductive lines to be patterned as invisible traces, and this feature has been effectively demonstrated in the projected capacitive design and in LED displays on curved substrates," Bayley said.
"The advent of invisible patterning technology enables PEDOT-based films to satisfy the design goals of smart phone and tablet makers in markets that require very high optical clarity and multi-touch response," said Dr. Stephan Kirchmeyer, Head of the Functional Coatings Business Unit from Heraeus Conductive Polymers Division. "The market can now access a complete system that provides patterned transparent conductive films with enhanced performance at lower cost compared with current material sets and processes."
"Kodak and Heraeus have developed a highly conductive Clevios™ PEDOT:PSS formulation that when coated on Kodak's ESTARTM film base makes highly transparent conductive and flexible films that offer great utility in many markets where either touch capabilities or light, flexible, conductive films add value and create design flexibility," said Brian Marks, General Manager, Functional Printing, Eastman Kodak Company. He added that the advantages of this technology in manufacturing are significant.
"The cost and performance of this new technology opens the door to the production of a new generation of touch screens built for electronic devices using high volume web coating manufacturing processes," Marks said. "It is positioned to utilize in-line patterning processes creating substantial cost advantages compared to the sputtering and patterning techniques required in the manufacture of ITO films."
Dr. Kirchmeyer predicted that "in the near future we will see touch screens in almost every electronic device. As the performance of these devices continues to advance and the cost continues to fall, they are poised to change the way that people interact with a whole array of devices," Dr. Kirchmyer said. "Just about any technology in which a person needs to interact with an electronic or a mechanical device could gain a real advantage by adopting touch screen technology.
"This growth will require a touch screen technology that is both more advanced and more economical. With the new highly conductive Clevios™ technology on Kodak's films we have taken a big step forward," Dr. Kirchmeyer said.
For more information, visit http://www.kodak.com/go/img and visit the Conductive Polymers Division of Heraeus at www.clevios.com .
http://www.printedelectronicsworld.com/articles/new-touch-screen-technology-00004152.asp?sessionid=1
I'm new to a BK, and don't understand most things, but when Kodak filed for chapter 11, foreign subsidiaries were not subject to the proceedings. As Kodak must own more than 50% of the voting stock for these to be considered subsidiaries, would our shares not atleast hold the value of the foreign subsidiaries regardless?
Also, it doesn't look like GGP cancelled shares did they? That was the same judge and Masterharm was a part of that wasn't he?
I'm stupid,new, and sensitive so go easy on me....
All in my opinion, not advice, just questions.
New to the board here...
I see on the website they have London 2012 Olympics listed as a customer, that's interesting. Is that right?
Article from 1-9-12 also looks interesting...
http://www.mobilesquared.co.uk/news/Mobile+barcode+usage+to+explode+in+2012+_201
Does anyone know of any agenda for the conference call?
Been lurking for a while, thanks Level for all of your hard work and DD, congratulations Ryguy! great info here, Looking forward to everything unfolding!