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Last thing you want is BIG REVENUE when Restructuring Debt
When you are restructuring a large debt, in this case $14m for pennies on the dollar, you certainly don't want to go out and get a NEW DEAL that generates big revenue numbers, or the entire restructuring deal could get cancelled and full payment demanded.
To cover that $14 debt we would have needed way over $30 million in revenue and even if we had generated say numbers like $5 million, the debt holders may have changed the restructuring deal.
Now that we have received "Paid in Full" on nearly all of the $14m, looking for the South Africa
Deals and others to get done in early 2013.
The latest debt instruments are in my opinion, just short term arrangements that will get refinanced by more traditional means and even better terms long before and conversions are going to be done.
Lets analyze all $14m Debentures
Lets pick them apart, find every possible negative example and predict the death of PVSP when they could make the payments, and would be in default, and the holders would force them into bankruptcy and the end of the world as we know it.
For 5 years Arty has been predicting the death of PVSP and every time he has been totally wrong, totally.
None of those thing happened and what did happen he never even imagined, all $14m of the debt has been settled, marked PAID IN FULL.
Now he is ranting about the new financing deal when everyone should be focused on new business developments and new revenue, as that is the only thing that really matters.
Now 4 Trades ALL DOUBLE COUNTS
.0039. 600,000
.004 600,000
Why don't a few of us LONGS swap some shares for .02?
Oh I forgot only the MM are allowed to manipulate the market.
3 Trades all DOUBLE COUNTS
.005 10,000
.005 10,000
.005 50,000
.005 48,000
.0039 500,000
.004 500,000
Total volume reported is 1,118,000
It is actually 1/2 that around 550,000 shares.
No one is selling, just a little swapping going on between the MM boys.
Dollars are a monster $4,300 total!
Apple has 11 Pages of RISK Factors
Arty you better get over there and warn investors 11 pages, hundreds of risk warnings, woo.
Item 1A. Risk Factors
Because of the following factors, as well as other factors affecting the Company’s financial condition and operating results, past financial performance should not be considered to be a reliable indicator of future performance, and investors should not use historical trends to anticipate results or trends in future periods.
Global economic conditions could materially adversely affect the Company.
The Company’s operations and performance depend significantly on worldwide economic conditions.
Uncertainty about global economic conditions poses a risk as consumers and businesses postpone spending in response to tighter credit, unemployment, negative financial news and/or declines in income or asset values.
For example, the continuing sovereign debt crisis, financial market volatility, and other factors in Europe have resulted in reduced consumer and business confidence and spending in many countries.
These worldwide and regional economic conditions could have a material adverse effect on demand for the Company’s products and services. Demand also could differ materially from the Company’s expectations because the Company generally raises prices on goods and services sold outside the U.S. to correspond with the effect of a strengthening of the U.S. dollar.
Other factors that could influence demand include increases in fuel and other energy costs, conditions in the real estate and mortgage markets, unemployment, labor and healthcare costs, access to credit, consumer confidence, and other macroeconomic factors affecting consumer spending behavior.
These and other economic factors could materially adversely affect demand for the Company’s products and services.
In the event of financial turmoil affecting the banking system and financial markets, additional consolidation of the financial services industry, or significant financial service institution failures, there could be a new or incremental tightening in the credit markets, low liquidity, and extreme volatility in fixed income, credit, currency, and equity markets.
This could have a number of effects on the Company’s business, including the insolvency or financial instability of outsourcing partners or suppliers or their inability to obtain credit to finance development and/or manufacture products resulting in product delays; inability of customers, including channel partners, to obtain credit to finance purchases of the Company’s products; and failure of derivative counterparties and other financial institutions.
Other income and expense also could vary materially from expectations depending on gains or losses realized on the sale or exchange of financial instruments; impairment charges resulting from revaluations of debt and equity securities and other investments; interest rates; cash balances; and changes in fair value of derivative instruments. Increased volatility in the financial markets and overall economic uncertainty would increase the risk of the actual amounts realized in the future on the Company’s financial instruments differing significantly from the fair values currently assigned to them.
Global markets for the Company’s products and services are highly competitive and subject to rapid technological change, and the Company may be unable to compete effectively in these markets.
The Company’s products and services compete in highly competitive global markets characterized by aggressive price cutting and resulting downward pressure on gross margins, frequent introduction of new products, short product life cycles, evolving industry standards, continual improvement in product price/performance characteristics, rapid adoption of technological and product advancements by competitors, and price sensitivity on the part of consumers.
The Company’s ability to compete successfully depends heavily on its ability to ensure a continuing and timely introduction of innovative new products and technologies to the marketplace. The Company believes it is unique in that it designs and develops nearly the entire solution for its products, including the hardware, operating system, numerous software applications, and related services.
As a result, the Company must make significant investments in research and development and currently holds a significant number of patents and copyrights and has registered and/or has applied to register numerous patents, trademarks and service marks. In contrast, many of the Company’s competitors seek to compete primarily through aggressive pricing and very low cost structures, and emulating the Company’s products and infringing its intellectual property. If the Company is unable to continue to develop and sell innovative new products with attractive margins or if competitors infringe on the Company’s intellectual property, the Company’s ability to maintain a competitive advantage could be adversely affected.
The Company markets certain mobile communication and media devices based on the iOS mobile operating system and also markets related third-party digital content and applications. The Company faces substantial competition in these markets from companies that have significant technical, marketing, distribution and other resources, as well as established hardware, software and digital content supplier relationships.
Additionally, the Company faces significant price competition as competitors reduce their selling prices and attempt to imitate the Company’s product features and applications within their own products or, alternatively, collaborate with each other to offer solutions that are more competitive than those they currently offer. The Company also competes with illegitimate ways to obtain third-party digital content and applications.
The Company has entered the mobile communications and media device markets, and some of its competitors in these markets have greater experience, product breadth and distribution channels than the Company.
Because some current and potential competitors have substantial resources and/or experience and a lower cost structure, they may be able to provide such products and services at little or no profit or even at a loss. The Company also expects competition to intensify as competitors attempt to imitate the Company’s approach to providing these components seamlessly within their individual offerings or work collaboratively to offer integrated solutions.
The Company’s financial condition and operating results depend substantially on the Company’s ability to continually improve iOS and iOS devices in order to maintain their functional and design advantages.
The Company is the only authorized maker of hardware using OS X, which has a minority market share in the personal computer market. This market is dominated by computer makers using competing operating systems, most notably Windows. In the market for personal computers and peripherals, the Company faces a significant number of competitors, many of which have broader product lines, lower priced products, and a larger installed customer base. Historically, consolidation in this market has resulted in larger competitors.
Price competition has been particularly intense as competitors selling Windows-based personal computers have aggressively cut prices and lowered product margins. An increasing number of Internet-enabled devices that include software applications and are smaller and simpler than traditional personal computers compete for market share with the Company’s existing products.
The Company’s financial condition and operating results depend substantially on its ability to continually improve the Mac platform to maintain its functional and design advantages.
There can be no assurance the Company will be able to continue to provide products and services that compete effectively.
To remain competitive and stimulate customer demand, the Company must successfully manage frequent product introductions and transitions.
Due to the highly volatile and competitive nature of the industries in which the Company competes, the Company must continually introduce new products, services and technologies, enhance existing products and services, and effectively stimulate customer demand for new and upgraded products.
The success of new product introductions depends on a number of factors including, but not limited to, timely and successful product development, market acceptance, the Company’s ability to manage the risks associated with new product production ramp-up issues, the availability of application software for new products, the effective management of purchase commitments and inventory levels in line with anticipated product demand, the availability of products in appropriate quantities and costs to meet anticipated demand, and the risk that new products may have quality or other defects in the early stages of introduction.
Accordingly, the Company cannot determine in advance the ultimate effect of new product introductions and transitions.
The Company faces substantial inventory and other asset risk in addition to purchase commitment cancellation risk.
The Company records a write-down for product and component inventories that have become obsolete or exceed anticipated demand or net realizable value and accrues necessary cancellation fee reserves for orders of excess products and components. The Company also reviews its long-lived assets, including capital assets held at its suppliers’ facilities, for impairment whenever events or circumstances indicate the carrying amount of an asset may not be recoverable. If the Company determines that impairment has occurred, it records a write-down equal to the amount by which the carrying value of the assets exceeds its fair market value. Although the Company believes its provisions related to inventory, capital assets, other assets and purchase commitments are currently adequate, no assurance can be given that the Company will not incur additional related charges given the rapid and unpredictable pace of product obsolescence in the industries in which the Company competes.
The Company must order components for its products and build inventory in advance of product announcements and shipments. Consistent with industry practice, components are normally acquired through a combination of purchase orders, supplier contracts, open orders and, where appropriate, inventory component prepayments, in each case based on projected demand. Such purchase commitments typically cover forecasted component and manufacturing requirements for periods up to 150 days. Because the Company’s markets are volatile, competitive and subject to rapid technology and price changes, there is a risk the Company will forecast incorrectly and order or produce excess or insufficient amounts of components or products, or not fully utilize firm purchase commitments.
Future operating results depend upon the Company’s ability to obtain components in sufficient quantities.
Because the Company currently obtains components from single or limited sources, the Company is subject to significant supply and pricing risks. Many components, including those that are available from multiple sources, are at times subject to industry-wide shortages and significant commodity pricing fluctuations. While the Company has entered into various agreements for the supply of components, there can be no assurance that the Company will be able to extend or renew these agreements on similar terms, or at all. The follow-on effects from
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global economic conditions on the Company’s suppliers, described in “Global economic conditions could materially adversely affect the Company” above, also could affect the Company’s ability to obtain components. Therefore, the Company remains subject to significant risks of supply shortages and price increases. The Company expects to experience decreases in its gross margin percentage in future periods, as compared to levels achieved during 2012, largely due to a higher mix of new and innovative products with flat or reduced pricing that have higher cost structures and deliver greater value to customers and anticipated component cost and other cost increases. Future strengthening of the U.S. dollar could also negatively impact gross margin.
The Company and other participants in the markets for mobile communication and media devices and personal computers also compete for various components with other industries that have experienced increased demand for their products. The Company uses some custom components that are not common to the rest of these industries. The Company’s new products often utilize custom components available from only one source. When a component or product uses new technologies, initial capacity constraints may exist until the suppliers’ yields have matured or manufacturing capacity has increased. Continued availability of these components at acceptable prices, or at all, may be affected if those suppliers decided to concentrate on the production of common components instead of components customized to meet the Company’s requirements. The supply of components for a new or existing product could be delayed or constrained, or a key manufacturing vendor could delay shipments of completed products to the Company.
The Company depends on component and product manufacturing and logistical services provided by outsourcing partners, many of whom are located outside of the U.S.
Substantially all of the Company’s manufacturing is performed in whole or in part by a few outsourcing partners located primarily in Asia. The Company has also outsourced much of its transportation and logistics management. While these arrangements may lower operating costs, they also reduce the Company’s direct control over production and distribution. It is uncertain what effect such diminished control will have on the quality or quantity of products or services, or the Company’s flexibility to respond to changing conditions. Although arrangements with these partners may contain provisions for warranty expense reimbursement, the Company may remain responsible to the consumer for warranty service in the event of product defects and could experience an unanticipated product defect or warranty liability. While the Company relies on its partners to adhere to its supplier code of conduct, material violations of the supplier code of conduct could occur.
The supply and manufacture of many critical components is performed by sole-sourced outsourcing partners in the U.S., Asia and Europe. Outsourcing partners in Asia perform final assembly of substantially all of the Company’s hardware products. Manufacturing or logistics in these locations or transit to final destinations may be disrupted for a variety of reasons including, but not limited to, natural and man-made disasters, information technology system failures, military actions or economic, business, labor, environmental, public health, or political issues.
The Company relies on third-party intellectual property and digital content, which may not be available to the Company on commercially reasonable terms or at all.
Many of the Company’s products include third-party intellectual property, which requires licenses from those third parties. Based on past experience and industry practice, the Company believes such licenses generally can be obtained on reasonable terms. There is, however, no assurance that the necessary licenses can be obtained on acceptable terms or at all.
The Company also contracts with third parties to offer their digital content through the iTunes Store. The licensing arrangements with these third parties are short-term and do not guarantee the continuation or renewal of these arrangements on reasonable terms, if at all. Some third-party content providers and distributors currently or in the future may offer competing products and services, and could take action to make it more difficult or impossible for the Company to license their content in the future. Other content owners, providers or distributors
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may seek to limit the Company’s access to, or increase the cost of, such content. The Company may be unable to continue to offer a wide variety of content at reasonable prices with acceptable usage rules, or continue to expand its geographic reach.
Many third-party content providers require the Company to provide digital rights management and other security solutions. If requirements change, the Company may have to develop or license new technology to provide these solutions. There is no assurance the Company will be able to develop or license such solutions at a reasonable cost and in a timely manner. In addition, certain countries have passed or may propose and adopt legislation that would force the Company to license its digital rights management, which could lessen the protection of content and subject it to piracy and also could negatively affect arrangements with the Company’s content providers.
The Company is frequently involved in intellectual property litigation, and could be found to have infringed on intellectual property rights.
Technology companies, including many of the Company’s competitors, frequently enter into litigation based on allegations of patent infringement or other violations of intellectual property rights. In addition, patent holding companies seek to monetize patents they have purchased or otherwise obtained. As the Company has grown, the intellectual property rights claims against it have increased and may continue to increase. In particular, the Company’s cellular enabled products compete with mobile communication and media device companies that hold significant patent portfolios, and the number of patent claims against the Company has significantly increased. The Company is vigorously defending infringement actions in courts in a number of U.S. jurisdictions and before the U.S. International Trade Commission, as well as internationally in Europe and Asia. The plaintiffs in these actions frequently seek injunctions and substantial damages.
Regardless of the scope or validity of such patents or other intellectual property rights, or the merits of any claims by potential or actual litigants, the Company may have to engage in protracted litigation. Such litigation is often expensive, time-consuming, disruptive to the Company’s operations, and distracting to management. If the Company is found to infringe one or more patents or other intellectual property rights, regardless of whether it can develop non-infringing technology, it may be required to pay substantial damages or royalties to a third-party, or it may be subject to a temporary or permanent injunction prohibiting the Company from marketing or selling certain products.
In certain cases, the Company may consider the desirability of entering into licensing agreements, although no assurance can be given that such licenses can be obtained on acceptable terms or that litigation will not occur. These licenses may also significantly increase the Company’s operating expenses.
In management’s opinion, there is not at least a reasonable possibility the Company may have incurred a material loss, or a material loss in excess of a recorded accrual, with respect to loss contingencies, including matters related to infringement of intellectual property rights. However, the outcome of litigation is inherently uncertain. Therefore, although management considers the likelihood of such an outcome to be remote, if one or more of these legal matters were resolved against the Company in a reporting period for amounts in excess of management’s expectations, the Company’s consolidated financial statements for that reporting period could be materially adversely affected.
The Company’s future performance depends in part on support from third-party software developers.
The Company believes decisions by customers to purchase its hardware products depend in part on the availability of third-party software applications and services. There is no assurance that third-party developers will continue to develop and maintain software applications and services for the Company’s products. If third-party software applications and services cease to be developed and maintained for the Company’s products, customers may choose not to buy the Company’s products.
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With respect to its Mac products, the Company believes the availability of third-party software applications and services depends in part on the developers’ perception and analysis of the relative benefits of developing, maintaining, and upgrading such software for the Company’s products compared to Windows-based products. This analysis may be based on factors such as the market position of the Company and its products, the anticipated revenue that may be generated, continued growth of Mac sales, and the costs of developing such applications and services. If the Company’s minority share of the global personal computer market causes developers to question the Company’s prospects, developers could be less inclined to develop or upgrade software for the Company’s products and more inclined to devote their resources to developing and upgrading software for the larger Windows market.
With respect to iOS devices, the Company relies on the continued availability and development of compelling and innovative software applications, which are distributed through a single distribution channel, the App Store. The absence of multiple distribution channels, which are available for competing platforms, may limit the availability and acceptance of third-party applications by the Company’s customers, thereby causing developers to reduce or curtail development for the iOS platform. In addition, iOS devices are subject to rapid technological change, and, if third-party developers are unable to or choose not to keep up with this pace of change, third-party applications might not successfully operate and may result in dissatisfied customers. As with applications for the Company’s Mac products, the availability and development of these applications also depend on developers’ perceptions and analysis of the relative benefits of developing software for the Company’s products rather than its competitors’ platforms, such as Android. If developers focus their efforts on these competing platforms, the availability and quality of applications for the Company’s iOS devices may suffer.
The Company depends on the performance of distributors, carriers and other resellers.
The Company distributes its products through cellular network carriers, wholesalers, national and regional retailers, and value-added resellers, many of whom distribute products from competing manufacturers. The Company also sells its products and third-party products in most of its major markets directly to education, enterprise and government customers, and consumers and small and mid-sized businesses through its online and retail stores.
Carriers providing cellular network service for iPhone typically subsidize users’ purchase of the device. There is no assurance that such subsidies will be continued at all or in the same amounts upon renewal of the Company’s agreements with these carriers or in agreements the Company enters into with new carriers.
Many resellers have narrow operating margins and have been adversely affected in the past by weak economic conditions. Some resellers have perceived the expansion of the Company’s direct sales as conflicting with their business interests as distributors and resellers of the Company’s products. Such a perception could discourage resellers from investing resources in the distribution and sale of the Company’s products or lead them to limit or cease distribution of those products. The Company has invested and will continue to invest in programs to enhance reseller sales, including staffing selected resellers’ stores with Company employees and contractors and improving product placement displays. These programs could require a substantial investment while providing no assurance of return or incremental revenue. The financial condition of these resellers could weaken, these resellers could stop distributing the Company’s products, or uncertainty regarding demand for the Company’s products could cause resellers to reduce their ordering and marketing of the Company’s products.
The Company’s Retail segment has required and will continue to require a substantial investment and commitment of resources and is subject to numerous risks and uncertainties.
The Company’s retail stores have required substantial fixed investment in equipment and leasehold improvements, information systems, inventory and personnel. The Company also has entered into substantial operating lease commitments for retail space. Certain stores have been designed and built to serve as high-profile venues to promote brand awareness and serve as vehicles for corporate sales and marketing activities. Because of their unique design elements, locations and size, these stores require substantially more investment than the
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Company’s more typical retail stores. Due to the high fixed cost structure associated with the Retail segment, a decline in sales or the closure or poor performance of individual or multiple stores could result in significant lease termination costs, write-offs of equipment and leasehold improvements, and severance costs.
Many factors unique to retail operations, some of which are beyond the Company’s control, pose risks and uncertainties. These risks and uncertainties include, but are not limited to, macro-economic factors that could have an adverse effect on general retail activity, as well as the Company’s inability to manage costs associated with store construction and operation, failure to manage relationships with its existing retail channel partners, more challenging environments in managing retail operations outside the U.S., costs associated with unanticipated fluctuations in the value of retail inventory, and inability to obtain and renew leases in quality retail locations at a reasonable cost.
Investment in new business strategies and acquisitions could disrupt the Company’s ongoing business and present risks not originally contemplated.
The Company has invested, and in the future may invest, in new business strategies or acquisitions. Such endeavors may involve significant risks and uncertainties, including distraction of management from current operations, greater than expected liabilities and expenses, inadequate return of capital, and unidentified issues not discovered in the Company’s due diligence. These new ventures are inherently risky and may not be successful.
The Company’s products and services may experience quality problems from time to time that can result in decreased sales and operating margin.
The Company sells complex hardware and software products and services that can contain design and manufacturing defects. Sophisticated operating system software and applications, such as those sold by the Company, often contain “bugs” that can unexpectedly interfere with the software’s intended operation. The Company’s online services may from time to time experience outages, service slowdowns, or errors. Defects may also occur in components and products the Company purchases from third parties. There can be no assurance the Company will be able to detect and fix all defects in the hardware, software and services it sells. Failure to do so could result in lost revenue, significant warranty and other expenses, and harm to the Company’s reputation.
The Company is subject to laws and regulations worldwide, changes to which could increase the Company’s costs and individually or in the aggregate adversely affect the Company’s business.
The Company is subject to laws and regulations affecting its domestic and international operations in a number of areas. These U.S. and foreign laws and regulations affect the Company’s activities including, but not limited to, areas of labor, advertising, digital content, consumer protection, real estate, billing, e-commerce, promotions, quality of services, telecommunications, mobile communications and media, television, intellectual property ownership and infringement, tax, import and export requirements, anti-corruption, foreign exchange controls and cash repatriation restrictions, data privacy requirements, anti-competition, environmental, health, and safety.
By way of example, laws and regulations related to mobile communications and media devices in the many jurisdictions in which the Company operates are extensive and subject to change. Such changes could include, among others, restrictions on the production, manufacture, distribution, and use of the device, locking the device to a carrier’s network, or mandating the use of the device on more than one carrier’s network. These devices are also subject to certification and regulation by governmental and standardization bodies, as well as by cellular network carriers for use on their networks. These certification processes are extensive and time consuming, and could result in additional testing requirements, product modifications, delays in product shipment dates, or preclude the Company from selling certain products.
Compliance with these laws, regulations and similar requirements may be onerous and expensive, and they may be inconsistent from jurisdiction to jurisdiction, further increasing the cost of compliance. This increases the costs of doing business, and any such costs, which may rise in the future as a result of changes in these laws and
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regulations or in their interpretation could individually or in the aggregate make the Company’s products and services less attractive to the Company’s customers, delay the introduction of new products in one or more regions, or cause the Company to change or limit its business practices. The Company has implemented policies and procedures designed to ensure compliance with these laws and regulations, but there can be no assurance that the Company’s employees, contractors, or agents will not violate such laws and regulations or the Company’s policies.
The Company’s success depends largely on the continued service and availability of key personnel.
Much of the Company’s future success depends on the continued availability and service of key personnel, including its Chief Executive Officer, executive team and other highly skilled employees. Experienced personnel in the technology industry are in high demand and competition for their talents is intense, especially in the Silicon Valley, where most of the Company’s key personnel are located.
The Company’s business may be impacted by political events, war, terrorism, public health issues, natural disasters and other circumstances.
War, terrorism, geopolitical uncertainties, public health issues, and other business interruptions have caused and could cause damage or disruption to international commerce and the global economy, and thus could have a material adverse effect on the Company, its suppliers, logistics providers, manufacturing vendors and customers, including channel partners. The Company’s business operations are subject to interruption by natural disasters, fire, power shortages, nuclear power plant accidents, terrorist attacks, and other hostile acts, labor disputes, public health issues, and other events beyond its control. Such events could decrease demand for the Company’s products, make it difficult or impossible for the Company to make and deliver products to its customers, including channel partners, or to receive components from its suppliers, and create delays and inefficiencies in the Company’s supply chain. Should major public health issues, including pandemics, arise, the Company could be adversely affected by more stringent employee travel restrictions, additional limitations in freight services, governmental actions limiting the movement of products between regions, delays in production ramps of new products, and disruptions in the operations of the Company’s manufacturing vendors and component suppliers. The majority of the Company’s research and development activities, its corporate headquarters, information technology systems, and other critical business operations, including certain component suppliers and manufacturing vendors, are in locations that could be affected by natural disasters. In the event of a natural disaster, the Company could incur significant losses, require substantial recovery time and experience significant expenditures in order to resume operations.
The Company’s business and reputation may be impacted by information technology system failures or network disruptions.
The Company may be subject to information technology system failures and network disruptions. These may be caused by natural disasters, accidents, power disruptions, telecommunications failures, acts of terrorism or war, computer viruses, physical or electronic break-ins, or similar events or disruptions. System redundancy may be ineffective or inadequate, and the Company’s disaster recovery planning may not be sufficient for all eventualities. Such failures or disruptions could prevent access to the Company’s online stores and services, preclude retail store transactions, compromise Company or customer data, and result in delayed or cancelled orders. System failures and disruptions could also impede the manufacturing and shipping of products, delivery of online services, transactions processing and financial reporting.
The Company may be subject to breaches of its information technology systems, which could damage business partner and customer relationships, curtail or otherwise adversely impact access to online stores and services, and could subject the Company to significant reputational, financial, legal, and operational consequences.
The Company’s business requires it to use and store customer, employee, and business partner personally identifiable information (“PII”). This may include names, addresses, phone numbers, email addresses, contact
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preferences, tax identification numbers, and payment account information. Although malicious attacks to gain access to PII affect many companies across various industries, the Company may be at a relatively greater risk of being targeted because of its high profile and the amount of PII managed.
The Company requires user names and passwords in order to access its information technology systems. The Company also uses encryption and authentication technologies to secure the transmission and storage of data. These security measures may be compromised as a result of third-party security breaches, employee error, malfeasance, faulty password management, or other irregularity, and result in persons obtaining unauthorized access to Company data or accounts. Third parties may attempt to fraudulently induce employees or customers into disclosing user names, passwords or other sensitive information, which may in turn be used to access the Company’s information technology systems. To help protect customers and the Company, the Company monitors accounts and systems for unusual activity and may freeze accounts under suspicious circumstances, which may result in the delay or loss of customer orders.
The Company devotes significant resources to network security, data encryption, and other security measures to protect its systems and data, but these security measures cannot provide absolute security. The Company may experience a breach of its systems and may be unable to protect sensitive data. Moreover, if a computer security breach affects the Company’s systems or results in the unauthorized release of PII, the Company’s reputation and brand could be materially damaged and use of the Company’s products and services could decrease. The Company would also be exposed to a risk of loss or litigation and possible liability.
The Company’s business is subject to a variety of U.S. and international laws, rules, policies and other obligations regarding data protection.
The Company is subject to federal, state and international laws relating to the collection, use, retention, security and transfer of PII. In many cases, these laws apply not only to third-party transactions, but also to transfers of information between the Company and its subsidiaries, and among the Company, its subsidiaries and other parties with which the Company has commercial relations. Several jurisdictions have passed new laws in this area, and other jurisdictions are considering imposing additional restrictions. These laws continue to develop and may be inconsistent from jurisdiction to jurisdiction. Complying with emerging and changing international requirements may cause the Company to incur substantial costs or require the Company to change its business practices. Noncompliance could result in penalties or significant legal liability.
The Company’s privacy policy and related practices concerning the use and disclosure of data are posted on its website. Any failure by the Company, its suppliers or other parties with whom the Company does business to comply with its posted privacy policy or with other federal, state or international privacy-related or data protection laws and regulations could result in proceedings against the Company by governmental entities or others.
The Company is also subject to payment card association rules and obligations under its contracts with payment card processors. Under these rules and obligations, if information is compromised, the Company could be liable to payment card issuers for the cost of associated expenses and penalties. In addition, if the Company fails to follow payment card industry security standards, even if no customer information is compromised, the Company could incur significant fines or experience a significant increase in payment card transaction costs.
The Company expects its quarterly revenue and operating results to fluctuate.
The Company’s profit margins vary among its products and its distribution channels. The Company’s software, accessories, and service and support contracts generally have higher gross margins than certain of the Company’s other products. Gross margins on the Company’s hardware products vary across product lines and can change over time as a result of product transitions, pricing and configuration changes, and component, warranty, and other cost fluctuations. The Company’s direct sales generally have higher associated gross margins than its
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indirect sales through its channel partners. In addition, the Company’s gross margin and operating margin percentages, as well as overall profitability, may be materially adversely impacted as a result of a shift in product, geographic or channel mix, new products, component cost increases, strengthening U.S. dollar, or price competition. The Company has typically experienced higher net sales in the first fiscal quarter compared to other fiscal quarters due in part to holiday seasonal demand. Actual and anticipated timing of new product introductions by the Company can also significantly impact the level of net sales experienced by the Company in any particular quarter. The Company could be subject to unexpected developments late in a quarter, such as lower-than-anticipated demand for the Company’s products, issues with new product introductions, an internal systems failure, or failure of one of the Company’s logistics, components supply, or manufacturing partners.
The Company’s stock price is subject to volatility.
The Company’s stock continues to experience substantial price volatility. Additionally, the Company, the technology industry, and the stock market as a whole have experienced extreme stock price and volume fluctuations that have affected stock prices in ways that may have been unrelated to these companies’ operating performance. The Company believes its stock price reflects high future growth and profitability expectations. If the Company fails to meet these expectations its stock price may significantly decline, which could have a material adverse impact on investor confidence and employee retention.
The Company’s business is subject to the risks of international operations.
The Company derives a significant portion of its revenue and earnings from its international operations. Compliance with applicable U.S. and foreign laws and regulations, such as import and export requirements, anti-corruption laws, tax laws, foreign exchange controls and cash repatriation restrictions, data privacy requirements, environmental laws, labor laws, and anti-competition regulations, increases the costs of doing business in foreign jurisdictions. Although the Company has implemented policies and procedures to comply with these laws and regulations, a violation by the Company’s employees, contractors, or agents could nevertheless occur.
The Company also could be significantly affected by other risks associated with international activities including, but not limited to, economic and labor conditions, increased duties, taxes and other costs, political instability, and changes in the value of the U.S. dollar versus local currencies. Margins on sales of the Company’s products in foreign countries, and on sales of products that include components obtained from foreign suppliers, could be materially adversely affected by foreign currency exchange rate fluctuations and by international trade regulations, including duties, tariffs and antidumping penalties. The Company is also exposed to credit and collectability risk on its trade receivables with customers in certain international markets. There can be no assurance the Company can effectively limit its credit risk and avoid losses.
The Company’s primary exposure to movements in foreign currency exchange rates relates to non-U.S. dollar denominated sales and operating expenses worldwide. For example, the uncertainty regarding the ability of certain European countries to continue to service their sovereign debt obligations and the related financial restructuring efforts by European governments may cause the value of several European currencies, including the euro, to fluctuate, which could adversely affect the Company’s non-U.S. dollar sales and operating expenses in the impacted jurisdictions. Weakening of foreign currencies relative to the U.S. dollar adversely affects the U.S. dollar value of the Company’s foreign currency-denominated sales and earnings, and generally leads the Company to raise international pricing, potentially reducing demand for the Company’s products. In some circumstances, for competitive or other reasons, the Company may decide not to raise local prices to fully offset the dollar’s strengthening, or at all, which would adversely affect the U.S. dollar value of the Company’s foreign currency denominated sales and earnings. Conversely, a strengthening of foreign currencies relative to the U.S. dollar, while generally beneficial to the Company’s foreign currency-denominated sales and earnings, could cause the Company to reduce international pricing and incur losses on its foreign currency derivative instruments, thereby limiting the benefit. Additionally, strengthening of foreign currencies may also increase the Company’s cost of product components denominated in those currencies, thus adversely affecting gross margins.
18
Table of Contents
The Company uses derivative instruments, such as foreign currency forward and option contracts, to hedge certain exposures to fluctuations in foreign currency exchange rates. The use of such hedging activities may not offset any or more than a portion of the adverse financial effects of unfavorable movements in foreign exchange rates over the limited time the hedges are in place.
The Company is exposed to credit risk and fluctuations in the market values of its investment portfolio.
The Company has not recognized any significant losses on its cash, cash equivalents and marketable securities, but could experience significant declines in the market value of its investment portfolio. Given the global nature of its business, the Company has both domestic and international investments. Credit ratings and pricing of these investments can be negatively affected by liquidity, credit deterioration, financial results, economic risk, political risk, sovereign risk or other factors. As a result, the value and liquidity of the Company’s cash, cash equivalents and marketable securities could decline and result in a significant impairment.
The Company is exposed to credit risk on its trade accounts receivable, vendor non-trade receivables and prepayments related to long-term supply agreements, and this risk is heightened during periods when economic conditions worsen.
The Company distributes its products through third-party cellular network carriers, wholesalers, retailers and value-added resellers. A substantial majority of the Company’s outstanding trade receivables are not covered by collateral or credit insurance. The Company’s exposure to credit and collectability risk on its trade receivables is higher in certain international markets and its ability to mitigate such risks may be limited. The Company also has unsecured vendor non-trade receivables resulting from purchases of components by outsourcing partners and other vendors that manufacture sub-assemblies or assemble final products for the Company. In addition, the Company has made prepayments associated with long-term supply agreements to secure supply of inventory components. As of September 29, 2012, a significant portion of the Company’s trade receivables were concentrated within cellular network carriers, and its non-trade receivables and long-term supply agreements were concentrated among a few individual vendors located primarily in Asia. While the Company has procedures to monitor and limit exposure to credit risk on its trade and vendor non-trade receivables as well as long-term prepayments, there can be no assurance such procedures will effectively limit its credit risk and avoid losses.
The Company could be impacted by unfavorable results of legal proceedings.
The Company is subject to various legal proceedings and claims that have not yet been fully resolved and that have arisen in the ordinary course of business, and additional claims may arise in the future. Results of legal proceedings are subject to significant uncertainty and, regardless of the merit of the claims, litigation may be expensive, time-consuming, disruptive to the Company’s operations, and distracting to management. In recognition of these considerations, the Company may enter into arrangements to settle litigation.
Although management considers the likelihood of such an outcome to be remote, if one or more of these legal matters were resolved against the Company in a reporting period for amounts in excess of management’s expectations, the Company’s consolidated financial statements for that reporting period could be materially adversely affected. Further, such an outcome could result in significant compensatory, punitive or trebled monetary damages, disgorgement of revenue or profits, remedial corporate measures or injunctive relief against the Company that could materially adversely affect its financial condition and operating results.
The Company could be subject to changes in its tax rates, the adoption of new U.S. or international tax legislation or exposure to additional tax liabilities.
The Company is subject to taxes in the U.S. and numerous foreign jurisdictions. Current economic and political conditions make tax rates in any jurisdiction, including the U.S., subject to significant change. The Company’s future effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory tax rates, changes in the valuation of deferred tax assets and liabilities, or changes in tax laws or their interpretation. The Company is also subject to the examination of its tax returns by the Internal Revenue Service and other tax authorities. The Company regularly assesses the likelihood of an adverse outcome resulting from these examinations to determine the adequacy of its provision for taxes. There can be no assurance as to the outcome of these examinations.
Triple Support in .0038 Range!
We may have put in a bottom for the Correction.
312 IHub PVSP Followers, HIGHEST in Years
PVSP is getting noticed which is a very positive development.
Corrections are always good longterm
Good Luck teaching these people
Seriously most longs are cheerleaders, to the moon, management rocks, Mark is the best, as long as the price is going up.
One sell off and they hate the management team and the companies business model, when in reality the sell off has nothing to do with the fundamentals, it is nothing but a healthy trading corrections after a HUGE run up from .0015 or so, over 500% at one point.
MM can pull their BIDs anytime!
Oldest play in the books, MM just step back and wham no bids means big gaps down like this, 50% then they step back in and cover some shorts.
You cannot beat these MM players, it can't be done by small time individual investors/traders you don't have the PLAY BOOK or the RESOURCES to trade and beat these guys, so don't try.
Play for the longterm and you can be very successful, trade short term in an illiquid pick sheet stock and the MM will KILL you.
I can always use a few more shares at these prices.
We really needed a deep sell off, way overdue.
Positive development to get the speculators and profit takers OUT of the stock and on the sidelines.
Gives other serious investors a chance to enter a good price and discount.
50% should have shaken the weak hands out
How is it killing us?
Not killing me I am having a great day and so are other investors
Just cleaning out the suckers
Go back to sleep and let the market do it's thing.
Guess that silly quickdraw pump was worthless as we all knew it would be.
Conversion is at 100% market price
Payment of Interest and Principal.
Principal and interest payments on Amended Note 2 can be made at any time by the Company, or the Fund can elect at any time to convert any portion of Amended Note 2 into shares of common stock of the Company, par value of $0.001, (the “Common Stock”) at 100% of the market price (as defined) subject to a limit of 4.99% of the Company’s outstanding shares of Common Stock. Amended Note 3 converts into ten percent (10%) of the outstanding shares of Common Stock of the Company upon the full payment of Amended Note 2, subject to a maximum of 100,000,000 shares. Any principal or interest amount can be paid in cash.
8-K Arty got it all wrong again
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): February 15, 2013
PERVASIP CORP.
(Exact name of registrant as specified in its charter)
New York 000-04465 13-2511270
(State or other
jurisdiction of incorporation)
(Commission File No.) (I.R.S. Employer Identification No.)
75 South Broadway, Suite 400
White Plains, NY 10601
(Address of principal executive offices)
(914) 620-1500
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13-4(e) under the Exchange Act (17 CFR 240.13e-4(c))21723200
SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS
Item 1.01. Entry into a Material Definitive Agreement.
On February 8, 2013, LV Administrative Services, Ltd., as agent acting on behalf of certain holders of debt, entered into an assignment and assumption agreement (the “Assignment Agreement”), as assignor, with NetCapital.com LLC (“NCC”), as assignee, which was filed on Form 8-K with the United States Securities and Exchange Commission on February 19, 2013.
Effective February 8, 2013, NCC assigned 100% of its right, title and interest in, to and under the Assignment Agreement to 112359 Factor Fund, LLC (the “Fund”) in exchange for the Fund's agreement to satisfy the payment obligations due under the Assignment Agreement.
Effective February 15, 2013, Pervasip Corp. (the “Company”) entered into a securities purchase agreement with the Fund pursuant to which the Company issued to the Fund (i) an amended convertible debenture in the principal amount of $6,043,850, which was immediately canceled (“Amended Note 1”), (ii) an amended and restated convertible debenture with an issuance date of November 30, 2005 and an amended principal balance of $1,000,000 (“Amended Note 2”), and (iii) an amended and restated convertible debenture with an issuance date of May 31, 2006 and an amended and restated principal balance of $1,000,000 (“Amended Note 3” and together with Amended Note 1 and Amended Note 2, the “Amended Notes”).
The Amended Notes were sold to the Fund, which is an “accredited investor” (as such term is defined in the rules promulgated under the Securities Act of 1933, as amended (the “Act”)), in exchange for the assignment to the Company of 100% of the Fund’s right, title and interest in, to and under the Amended Note 1, the assignment to the Company of 100% of Buyer’s right, title and interest in, to and under that certain convertible debenture dated December 26, 2012, and issued by the Company to Asher Enterprises, Inc., $150,000 in cash paid to the Company, and approximately $65,000 in transaction costs.
The following describes certain of the material terms of the financing transaction with the Fund. The description below is not a complete description of the material terms of the transaction and is qualified in its entirety by reference to the agreements entered into in connection with the transaction, copies of which are included as exhibits to this Current Report on Form 8-K:
Amended Notes Maturity Date and Interest Rate. Absent earlier redemption with no redemption premium by the Company as described below, Amended Notes 2 and 3 mature on December 31, 2014 (the “Maturity Date”). Interest will accrue on the unpaid principal and interest on the notes at a rate per annum equal to six percent (6%) for Amended Note 2 and two percent (2%) for Amended Note 3.
Payment of Interest and Principal. Principal and interest payments on Amended Note 2 can be made at any time by the Company, or the Fund can elect at any time to convert any portion of Amended Note 2 into shares of common stock of the Company, par value of $0.001, (the “Common Stock”) at 100% of the market price (as defined) subject to a limit of 4.99% of the Company’s outstanding shares of Common Stock. Amended Note 3 converts into ten percent (10%) of the outstanding shares of Common Stock of the Company upon the full payment of Amended Note 2, subject to a maximum of 100,000,000 shares. Any principal or interest amount can be paid in cash.
Amended Note 1. Amended Note 1 amends and restates in its entirety outstanding debt securities issued by the Company on May 31, 2006, September 28, 2007, May 28, 2008, October 29, 2008, February 18, 2009, October 6, 2009, and November 5, 2009 to Laurus Master Fund Ltd., or its affiliates (“Laurus”) for an aggregate total amount of $6,043,850. The Amended Note 1 was cancelled by the Fund and marked “Paid in Full” on February 15, 2013.
Amended Note 2. Amended Note 2 amends and restates in its entirety (and is given in substitution for and not in satisfaction of) that certain $2,000,000 Secured Term Note made by the Company in favor of Laurus on November 30, 2005. The principal changes effected in Amended Note 2 are the reduction in the interest rate to six percent (6%) per annum, the change in the maturity date from September 28, 2010 to December 31, 2014 and the ability of the holder to convert the note into shares of the Company’s common stock at 100% of the volume weighted average trading price of the Common Stock, as defined.
Amended Note 3. Amended Note 3 amends and restates in its entirety (and is given in substitution for and not in satisfaction of) that certain $1,700,000 Secured Term Note made by the Company in favor of Laurus on May 31, 2006. The principal changes effected in Amended Note 3 are the reduction in the interest rate to two percent (2%) per annum, the change in the maturity date from September 28, 2010 to December 31, 2014 and the ability of the holder to convert the note into shares of the Company’s Common Stock at a price of $0.01.
Security for Notes. The Amended Notes are secured by a blanket lien on substantially all of the Company’s assets pursuant to the terms of security agreements executed by the Company and its subsidiaries in favor of the Fund. In addition, the Company’s Chief Executive Officer and Chief Information Officer have pledged their combined voting control of the Company pursuant to a stock pledge agreement executed by the two officers in favor of the Fund, to further secure the Company’s obligations under the Amended Notes. If an event of default occurs under the security agreement, the stock pledge agreement or the Amended Notes, the secured parties have the right to accelerate payments under such promissory notes and, in addition to any other remedies available to them, to foreclose upon the assets securing such promissory notes.
Restrictions on Stock Conversions and sales. The Fund is entitled to receive shares of Common Stock upon the submission to the Company of a conversion notice so long as such receipt of shares of Common Stock does not cause the Fund to beneficially own in excess of 4.99% of the outstanding shares of Common Stock on the date of the conversion. The Fund is not allowed to sell shares of Common Stock in excess of twenty percent (20%) of the trading volume of the Common Stock, measured on a monthly basis.
SECTION 2 – FINANCIAL INFORMATION
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Please see Item 1.01 of this Current Report on Form 8-K, which Item is incorporated herein by reference, for a description of the terms of the sale of the Amended Notes to the Fund.
SECTION 3 – SECURITIES AND TRADING MARKETS
Item 3.02. Unregistered Sales of Equity Securities.
Please see Item 1.01 of this Current Report on Form 8-K, which Item is incorporated herein by reference, for a description of the terms of the issuance the Amended Notes and the associated excersisability features. The Amended Notes were issued in reliance on the exemption from registration provided by Section 4(2) of the Act, on the basis that their issuance did not involve a public offering, no underwriting fees or commissions were paid by us in connection with such sale and the Fund represented to us that it was an “accredited investor,” as defined in the Act.
SECTION 8 – OTHER EVENTS
Item 8.01 Other Events.
On March 4, 2013, the Company issued a press release announcing the sale of the Amended Notes, and the cancellation of Amended Note 1. A copy of the press release is attached hereto as Exhibit 99.1.
SECTION 9 – FINANCIAL STATEMENT AND EXHIBITS
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Number Documents
10.1 SECURITIES PURCHASE AGREEMENT by and between PERVASIP CORP. and 112359 FACTOR FUND, LLC, effective February 15, 2013.
10.2 AMENDED AND RESTATED CONVERTIBLE DEBENTURE numbered PVSP – 59FF 001, with an issuance date of NOVEMBER 30, 2005, and an amended and restated principal balance of $1,000,000.
10.3 AMENDED AND RESTATED CONVERTIBLE DEBENTURE numbered PVSP – 59FF 002, with an issuance date of MAY 31, 2006, and an amended and restated principal balance of $1,000,000.
99.1 Press release of Pervsaip Corp. dated March 4, 2013.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PERVASIP CORP.
Date: March 6, 2013 By: /s/ Paul H. Riss
Name: Paul H. Riss
Title: Chief Executive Officer
Marked “Paid in Full” on February 15, 2013
Amended Note 1. Amended Note 1 amends and restates in its entirety outstanding debt securities issued by the Company on May 31, 2006, September 28, 2007, May 28, 2008, October 29, 2008, February 18, 2009, October 6, 2009, and November 5, 2009 to Laurus Master Fund Ltd., or its affiliates (“Laurus”) for an aggregate total amount of $6,043,850. The Amended Note 1 was cancelled by the Fund and marked “Paid in Full” on February 15, 2013.
ASK at .79
Up we go
WebRTC is our Future, Go VoX!!
Mark Richards, the Company's chief information officer, added: "The world changed a few years ago with the introduction of smartphones and tablets. It will continue to change in 2013. Imagine a world where your phone, tablet, iPad, TV and computer all communicate on a common platform. Imagine video chat on any platform through your web browser. That's WebRTC. It's where our team and our technology are heading. The day where you can seamlessly connect video and voice without worrying about how the underlying technology works is closer than people can imagine. I want to connect to the person irrespective of whether they are at their desk, on their smartphone, or their tablet, and let the technology figure out where they are and how they are connected."
Riss continued: "WebRTC is a tremendous opportunity that we believe we are well-positioned to exploit. We are focused on increasing and servicing our subscriber base. We are very pleased with the refinancing and eliminating of a substantial majority of our secured debt because we believe this series of transactions will allow us to start exploring options for long-term equity financing at enhanced valuations."
Pervasip Reduces Debt by more than $5 MILLION
News to follow
Hello Chrome, it’s Firefox calling!
This will be HUGE for Pervasip and VoX in 2013
on February 4, 2013 by Maire Reavy and Robert Nyman [Editor]in Featured Article WebRTC
Mozilla is excited to announce that we’ve achieved a major milestone in WebRTC development: WebRTC RTCPeerConnection interoperability between Firefox and Chrome. This effort was made possible because of the close collaboration between the open Web community and engineers from both Mozilla and Google.
RTCPeerConnection (also known simply as PeerConnection or PC) interoperability means that developers can now create Firefox WebRTC applications that make direct audio/video calls to Chrome WebRTC applications without having to install a third-party plugin. Because the functionality is now baked into the browser, users can avoid problems with first-time installs and buggy plugins, and developers can deploy their apps much more easily and universally.
To help celebrate this momentous milestone, we thought it would be fun to call up our friends at Google to discuss it with them. Check out this Firefox-Chrome demonstration call between Mozilla’s Chief Innovation Officer, Todd Simpson, and Google’s Director of Product Management, Hugh Finnan, and read what Google had to say about this momentous occasion in their blog post.
This milestone builds on an earlier demo we showed late last year of WebRTC integrated with Social API. There we demonstrated an industry first with our implementation of DataChannels, a powerful component of WebRTC that can combined with an audio/video chat to allow users to share almost anything on their computer or device. Send vacation photos, memorable videos, links news stories etc., simply by dragging the item into your video chat window. Look out for more on this to come.
The purpose of WebRTC, an open standard being defined jointly at the W3C and IETF standards organizations, is to provide a common platform for all user devices to communicate and share audio, video and data in real-time. This is a first step toward that vision of interoperability and true, open, real-time communication on the web.
Can you see me now? Video messaging and the future of communication
by Stacey Higginbotham FEB. 15, 2013 - 9:52 AM PST
SUMMARY:
The web is getting more visual and our communication options now span video, voice and the written word. Technology and the web are breaking down the barriers of distance. Can bandwidth and devices keep up?
Technology is enabling us to get ever closer to the ideal of casual and seamless face-to-face communication over long distances. In fits and starts we’re pulling in more tools and options for communicating and getting us closer to a video-based ideal thanks to better devices and faster broadband connections.
Skype is reportedly testing video messaging options for mobile users today. The service would let people leave a video-based message for their friends. I can see a whole new variant on the “wish-you-were-here” picture messages I send that could involve panoramic views or the local soundscape (good for concerts and birdcalls, bad for when I’m in New York City).
A few weeks ago, Twitter launched Vine, to let people record 6-second videos and post them easily from their mobile, and Facebook is testing a voice messaging application that will let you leave a voice-based message for friends from Facebook. While the Facebook example isn’t video-based it drives home the larger point: Our web interactions are pushing forward to mirror our real-world interactions as much as possible, which means that our bandwidth demands and our mobile devices need to keep up.
On the mobile device side, we’re doing fine. Processing, cameras and microphones on smartphones are enabling us to record quality videos, voice and images. In the case of images we even have enough processing power for some editing. But on the bandwidth side, it’s unclear if we’re going to have the capability to share our efforts. That’s why on the wireless and wireline side we need to keep adding capacity and lowering costs. Conducting a video call today sucks up a lot of bandwidth, but there are ways to reduce the impact on the network and drive down costs for consumers and the operators.
When I look at the increasingly visual nature of the web and the influx of video options for communication I realize that we can finally escape the limits that technology has imposed on how we communicate over long distances. Letter writing, postcards, voice calls and even static web pages are poor substitutes when you want to share an experience with someone, and they are substitutes that are driven by the limits of the technology at the time. Many of those limits are no longer there.
Adapting to this will require us to ditch centuries of habits and preferences, but it opens up much higher quality ways for people to communicate. We will still drag these other forms of communication into our video-based future but we’ll be able to choose when an email makes the most sense or when we’d rather stick with voice.
As I scroll down the pages of an online catalog, I am grateful that I have the bandwidth at home to load pictures quickly so I can see the details in the product. I can’t wait for the ability to see things in 3D — or even set up a quick video call with someone who is near the product for a closer look.
I assume my six-year-old daughter — who refuses to take phone calls from people she loves unless there’s a video component — will resort to voice only for strangers and business-related conversations. Getting to that point means more work needs to be done to seamlessly integrate the options available to people much like Apple has done with FaceTime on its platform, and then to spread that to all platforms.
Companies like Skype, BlueJeans Networks, Polycom, and countless others are all trying to make this real as are the people pushing for the WebRTC standards. Right now it’s a mish-mash of standards, platforms and options, but video will coalesce into something that as simple as picking up a phone or mailing a letter is today.
WebRTC's Potential and Future
February 19, 2013
WebRTC's Potential and Future
By Robbie Pleasant
webrtcworld Contributor
While WebRTC is still an emerging technology, its impact can already be seen. After all, with it, one can send messages, videos, files and more without needing any plugins or downloads -- what’s not to like? As such, it’s also changing the way communication is viewed.
Already we’re beginning to see WebRTC grow and expand. Firefox and Chrome have revealed browsers that can communicate without any plugins or chat configurations, while Microsoft has been trying to spread its own platform. Once the standard is set, even more will take off.
Who knows just how many devices will become WebRTC compatible? Right now, the assumption is most of them. It’s starting with computers across browsers, but developers will soon be able to connect televisions, smartphones, car systems and whenever they finally invent contact lenses that let you pull up virtual screens with a wave of the hand, it’ll probably connect with those too.
If you want to know more about WebRTC, there are a variety of sources. On Wednesday, February 20 at 12 p.m. EST, a good place to look would be the webinar “WebRTC: The Browser Speaks; Telco’s Listen.” Jatin Garg of Dialogic, along with Disruptive Analysis’ Dean Bubley, will host this webinar, and discuss the possibilities WebRTC presents and what it needs to succeed. One can register for the webinar here.
There’s so much potential in WebRTC, and we’re just starting to see what it can do. This brings us one step closer to the future envisioned in science fiction and the dreams of those looking at a far-off future, and personally, I’m looking forward to living in that future time.
"As the Original Web Was to Information, so WebRTC Will be to Communications"
Imagine a future where a billion and a half devices are voice- and video-enabled through the web browser. Seeing is believing at the WebRTC Conference-Within-a-Conference at Enterprise Connect.
In 1993, I was working for Schlumberger in its automated testing equipment division in San Jose when I saw my first web page. This division made the chip testers that Intel used to test its Pentium family of microprocessors. At the time, there was a person in the marketing department that was fooling around with something he called the World Wide Web. He showed us how he could represent some of the print-based marketing collateral his team had created in something called a web page. He said that the Web was going to revolutionize how people interact with information. His words proved to be prophetic.
Fast forward 20 years. We are on the cusp of what may be an equally transformative change in how people interact with communications. The web made information inexpensive and ubiquitous; WebRTC has the potential to do the same with voice, video, and collaboration. The provocative title above is actually a quote from an industry visionary and friend of mine, Phil Edholm.
Is there really anything to all the hype and speculation about WebRTC? When Fred Knight and Eric Krapf approached me last fall and invited me to co-chair the WebRTC conference-within-a-conference at Enterprise Connect (with Irwin Lazar of Nemertes Research), my first thought was, "What is there to say? WebRTC has so many issues and hairballs on it that it is far from being ready for real world use."
Well, since then, I have interviewed a number of people directly involved with WebRTC, and I have seen some of the innovative ways WebRTC can be used. WebRTC may just be a game changer!
Another industry colleague, Alistair Rennie at IBM, once said, "Innovation is the intersection of invention and opportunity." Just as HTML and the World Wide Web provided a fertile environment for both invention and opportunity, so too WebRTC provides an environment for innovation. It is not difficult to imagine a world where every website is voice- and /or video-enabled, and we are just beginning to envision a world of new form factors for communications devices based on off-the-shelf chips and browser software. We can now start to glimpse a world of P2P (people-to-people) engagement made possible with real-time communications at everyone's fingertips that is supplanting the notion of B2B and B2C in almost all markets.
Web RTC Future of Real Time Communication
Not a single comment about the biggest news of the year for Video Communications, that Web RTC is finally a reality and Video Calling will go mainstream in 2013 because of it.
Except for a single tweet on VoX Mobile:
"WebRTC is where it is at. Keep an eye on PVSP"
Mark indicated that VoX is a pioneer in the Web RTC space and had this to say in the press release on Monday regarding our Android Video App.
"Although our initial mobile video product is delivered as an app, the recent excitement surrounding the next generation of technology for browser based video communications called WebRTC, is not lost on us at VoX. We are excited to be one of the pioneers in this space, as we enter this potentially explosive adoption. We believe video calling will go mainstream in 2013," added Richards.
What is Web RTC?
WebRTC is an open framework for the web that enables Real Time Communications in the browser. It includes the fundamental building blocks for high quality communications on the web such as network, audio and video components used in voice and video chat applications.
These components, when implemented in a browser, can be accessed through a Javascript API, enabling developers to easily implement their own RTC web app.
The WebRTC effort is being standardized on a API level at the W3C and at the protocol level at the IETF.
In simple terms it means:
WebRTC offers web application developers the ability to write rich, realtime multimedia applications (think video chat) on the web, without requiring plugins, downloads or installs. It's purpose is to help build a strong RTC platform that works across multiple web browsers, across multiple platforms.
Google is the one leading the charge with deep pockets!
2013 is the year of the VoX!
Bottom Line IGNORE the Trading
That is the bottom line, volatility is alway present in illiquid penny stocks that are dominated by traders and market makers, IGNORE it and focus on the companies fundamentals and build your positions for the future price explosion.
Anything under .02 is a gift to any long term investor looking for $2 to $3 by year end.
The 345,000 was the opening trade .0076
and the second part of the trade recorded as an 345,000 at .0075.
These trades are DOUBLE COUNTS, like I said many times before, you are trading with a MM who only enters one side of the trade when purchased, and then again when he lays the shares off to someone else.
Most view a trade as a Seller to a Buyer and it is one trade of say the 345,000 share.
That is not what is happening here where MM are the counterpart to every Trade.
There was a 500,000 at .0061 and the other side of the trade 500,000 at .0062, which get recorded on the tape as 1 million shares traded.
I have purchased odd number amounts many times such as 99,150 and you will see the exact number of shares traded a second time and DOUBLE COUNTED.
Mondays 56% Gain has been backfilled
MM have been working it lower all weak after the 56% gain on Monday.
Maybe they will let it run after closing any gaps that developed on Mondays run.
Can't trade with MM and win, you have be investing on fundamentals and future growth to win BIG!
3 trades of $65 each at BID down 20%
That ain't going to work boys, we are going higher!
50 to 100 Installs of Video App
Nice interest in the Video App so fast!
https://play.google.com/store/apps/details?id=net.voxcorp.plugins.video
May begin Stock Buy Back Now!
CEO wanted to buy back stock if they got funding, we could see it now!
Announcing a stock buy back program, even for 100,000 dollars would be HUGE!!
Would put the company in the market able to trade the stock to support the price.
Dilution is OVER!!
No more dilution, NETCAPITAL has no problem with .02 and above for funds!!
You care about Sept, Oct, Nov Last year?
If you do, you and Arty can take turns reading all that boring history.
What they do NOW and in the future is the only thing that matters.
10K 5 day Extension Filed
As we always do, filed for 5 day extension for the period ending Nov 30,2012
Who cares about last year? Not me
Consolidation is Good
We really needed to get the weaker hands out of the stock and they are getting a chance to give their shares to someone who most likely will value them more than they did.
Stock has been on a tear, trending up for the past 16 trading sessions, and more than due for a little rest and consolidation.
The area from .0095 down here will be clear sailing with no resistance once the sellers have got off the train, we can resume or trip to a new yearly high above 10 cents.
5 STAR Reviews Keep Coming In
5 star 640
4 star 173
3 star 34
2 star 11
1 star 52
Average rating
4.5
910 Reviews
Manjinder Singh - February 27, 2013 - Samsung Galaxy S3 with version 2.0.4
Excellent app
Love this app.great calling exprrience.one of the best app.recommanded for everyone.this app deserve more then 5 stars.
A Google User - February 28, 2013 - Version 2.0.4
Galaxy Nexus 4.0.4
Minor bug fixed...gr8 customer support by email & phone....call quality is awesome so far...called Italy, Romania, UK & California...connection is quick and always lets you know how much time you have..exclnt app!...will change to 5 stars after next update for Bluetooth fix
Kassam Merchant - February 23, 2013 - Samsung Galaxy S with version 2.0.4
Excellent!
Very good value rates, good voice quality. Am very impressed with the support of the development team. Thank you.
Cool Looking VoX Video Plug-in Icon
Pretty cool, replacing the blue O in V O X with a camera lens for the video plug-in.
Very creative and cool looking.
https://play.google.com/store/apps/details?id=net.voxcorp
VoX Mobile Twitter VoxAndroid 46k Followers!
Pretty nice following developing for VoX Mobile
https://twitter.com/VoXAndroid
Video Installs 10-50, 5 STAR RATING!
Azam Khan - February 27, 2013 - Version 1.0.0
HTC
Best video call. I am so happy . Very good.
Manjinder Singh - February 26, 2013 - Samsung Galaxy S3
Great app
Love this
https://play.google.com/store/apps/details?id=net.voxcorp.plugins.video
Did you wonder how he got that name?
Well now you know, LOL
Nice 1.4 m BUY at ASK of .008!
Could get a nice bump here!
MM are consolidating, SHORT early, COVER late
Same pattern nearly everyday, they SHORT the ASK and when it get hit, they immediately drop the ASK lower and you get a Red Sell as opposed to a Green Buy.
It really doesn't matter, they are able to force out a few weak hands during the day and get some trades, and usually they will put it back where it was or higher depending if Buyers or Sellers come in.
Stock is worth 10 times this price today, and a lot more going forward with new deals and revenue.