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Usual Nenni nonsense, not worth the time reading it.
iPhones are direct competitors to Android phones that Intel make. It's like discussing what AMD is up to lately as another direct competitor.
I sure hope the company takes the constant hints from its shareholders and act on the refinance of this toxic debt as this is the most important thing bothering them now as otherwise execution has begun to match even the wildest optimists hopes by now. It is also in their interests to do so eventually as their 1.40 options are unlikely to be activated if they don't. Maybe after November when a good quarter is shown to the market they can seriously move on this.
What I said would be difficult would be isolating the heavily dilutive part of the debt from the rest otherwise it would not be difficult at all to refinance the whole debt. The difficult part of that has already been sorted by the company proving it has a future and viable business model. It could be done tomorrow if debt-equity was offered at a discount to the current pps but still at better terms than the tens of millions of 8c options waiting in the wing.
Unprofitable drug companies get debt-equity finance all the time based on intermediate trials which is still better on terms than this company has got from DMRJ and they don't have the backlog of orders this company now has. The only suggestion I would make is for the company to wait until FY2016Q1 is reported in November so that prospective lenders can see what the stock looks like in terms of price and volume after a quarter of full capacity sales have been reported so that any prospective future dilution starts at a higher number say over 1 rather than well under 1.
The management of this company have seriously failed in their duties to their shareholders by not tackling this debt-dilution giveaway over the years as the company prospects have continually improved over those years which means attractiveness to new lenders. It really can do much better now and it is misleading you if it states it can't.
There has to be something in the credit agreements that prevent payoff of the 8c derivative loan while there is still the $20m credit facility in use otherwise it would have been paid off years ago with fresh credit from this facility. I also suspect paying off the $20m BAM loan also takes precedence over the original DMRJ loans. There is probably no real substitute to getting $60-70m debt/equity from someone else to pay off all the debt in one go. Probably after the first quarter when this company demonstrates profitability the management should make a serious attempt to see what is out there although publicly they shockingly don't seem to be that bothered about this constant past, present and future dilution. This shockingly rude indifference to the common shareholder who has constantly indirectly financed the company thru the years by buying DMRJ debt very expensively has not changed going from Bolduc to McGann.
I never could see what she brought to the table to rise so high in Intel's hierarchy and so it seems it was not much.
Once Intel starts delivering its own processors and modems and ancillary chips all on its own internal foundry process i.e. at 14nm Intel will not be beat on price.
The much larger market is obviously smartphone APs, but Intel doesn't seem to have much share there.
Phones like the Zenfones will change that over time.
That's pretty impressive execution in only a year, beating Qualcomm and Samsung with basically only Bay Trail and Clover Trail+ as the weapons. This year Cherry Trail and Moorefield have been added in volume. Tick-Tock kept AMD down, I don't see the ARMy faring any better in the long run under a similar assault.
The global tablet applications processor (AP) market grew 18 percent year-over-year to reach $4.2 billion in calendar year 2014, according to Strategy Analytics Handset Component Technologies service (HCT) report, "Tablet Apps Processor Market Share 2014: Apple and Intel Grab Top Two Spots."
According to this research from Strategy Analytics, Apple, Intel, Qualcomm, MediaTek and Samsung LSI captured the top-five revenue share rankings in the tablet AP market in calendar year 2014.
Apple continued its tablet AP market leadership with 27 percent revenue share, followed by Intel with 19 percent revenue share and Qualcomm with 16 percent revenue share.
According to Sravan Kundojjala, Associate Director, "Strategy Analytics estimates that Intel’s tablet AP shipments registered over 300 percent year-over-year growth in 2014 and for the first time Intel ranked number one in the non-iPad tablet AP supplier market on an annual basis. Intel is well positioned to continue its tablet AP momentum in 2015 with the help of low-cost Atom X3 and 14 nm-based Atom X5 and X7 APs."
According to Stuart Robinson, Executive Director of the Strategy Analytics Handset Component Technologies service, "Strategy Analytics estimates that 64-bit tablet APs accounted for over one-third of total tablet AP shipments in 2014 and Apple and Intel accounted for almost all of these shipments. Strategy Analytics estimates 64-bit tablet AP shipments will overtake 32-bit tablet AP shipments in 2015, thanks to the industry wide migration to 64-bit chips. "
https://www.strategyanalytics.com/strategy-analytics/news/strategy-analytics-press-releases/strategy-analytics-press-release/2015/05/05/revenue-from-tablet-apps-processors-reached-$4.2-billion-in-2014
Intel right on schedule with their mobile plans.
Indeed, constant annual market share growth since Clovertrail(+) unlike these boastful ARM comedians whose PC and server market share is still statistically insignificant from 0. Only one side is taking prisoners in this ISA battle and it is not the fabless ARMy who are facing disruptive performance/price Intel tablet/phone products which constantly eat away at their marketshare base.
The purported timing only exists in the vivid imagination of the author who I suspect is AE but not sure as you did not even dignify the author with a link for his journalism before completely copying his efforts. It is also basically a strawman even if it is pessimistic as the author suggests as it misses the fundamental differentiation point about Intel's mobile products, they are performance/price disruptive even at 22nm (see Moorefield in Zenfone 2) because Intel is its own mobile foundry so its products will always be inherently cheaper than its fabless competition at the same profitability level.
14nm will continue this and in fact the most important Intel 14nm product will not be the flagship Broxton but the integrated Sofia product as it will combine a level of performance, integration and cheapness that no competitor will be able to match except maybe for Samsung if it really tries. So to answer your question when will Broxton arrive ? Don't know and don't really care as 14nm SofiA will be the more important volume product. Intel's mobile marketshare trajectory is going well and its 22-28nm phone products are more than good enough for this year.
Anyone who uses geekbench as an indicator of competitiveness has already lost the argument before they have started.
One would suspect that with a hint of profitability (FY2016Q1 reported in November) the pps would go back up to 1.2-1.4 with volume. Once a profitable business model can be demonstrated it should attract a new batch of valuation investors/traders to add to the story ones already here. The big question then is if the price can hold (maybe some of the rise will, say to 1) and the bigger question then will be when/if DMRJ's dilution can be fully assimilated by the market. The latter will probably require all of the $162m IDIQ to be ordered and delivered in consecutive quarters/years. Tall order but it is no longer a long-shot dream.
Another AE speculative yawnfest using subjective company PRspeak to spice up a non-existent issue. 14nm is only really ramping up this year for everybody, next year it will be the Tocks and then 2017 will be for 10nm ramp. The foundries 14/16FF products are a half-node bigger than Intel's 14nm as will be their 10FF compared to Intel's 10nm.
Intel needs to guard this space against any ARM intrusion by whatever means possible.
Not ARM which really is a paper tiger but potentially disruptive technologies like FPGAs and ASICs ....
http://newsroom.intel.com/community/intel_newsroom/blog/2015/05/12/intel-easic-collaborate-on-customized-intel-based-solutions-for-the-cloud
SANTA CLARA, Calif., May 12, 2015 – Intel Corporation today announced plans to develop integrated products with eASIC Corporation that combine processing performance and customizable hardware to meet the increasing demand for custom compute solutions for data centers and the "cloud." The new parts will enable acceleration of up to two times that of a field programmable gate array (FPGA) for workloads like security and big data analytics while also speeding the time to market for custom application specific integrated circuit (ASIC) development by as much as 50 percent1.
The tremendous growth of cloud computing has spurred greater demand for customized chips that make a particular application or workload run faster. To enable this, eASIC plans to integrate its eASIC platform technology with future Intel® Xeon® processors, providing cloud service providers a highly customized, integrated hardware solution for their particular workload.
eASIC's technology can increase flexibility and fast-time-to-market when compared to traditional ASICs and increase performance and lower power consumption when compared to FPGAs. By integrating hardware accelerator solutions with the eASIC platform, Intel can deliver much faster and more flexible systems for cloud customers.
"Having the ability to highly customize our solutions for a given workload will not only make the specific application run faster, but also help accelerate the growth of exciting new applications like visual search," said Diane Bryant, senior vice president and general manager of Intel's Data Center Group. "This announcement helps broaden our portfolio of customized products to provide our customers with the flexibility and performance they need."
This collaboration is part of Intel's strategy to integrate reprogrammable technology with Intel Xeon processors to greatly improve performance, power and cost.
"We believe our eASIC technology has unique characteristics that will benefit cloud service providers to get the most from their applications," said Ronnie Vasishta, president and chief executive office at eASIC. "The combination of eASIC and Intel technology will help bring break through cost and performance to our customers."
Memory is just a commodity highly dependent on Moore's Law continuing to remain profitable. Intel's primary strength is its CPU IP and all the software built around it. Unlike Micron or McAfee or any other of the companies Intel has bought in the past Altera is directly related to Intel's core business and will improve it almost immediately ...
http://www.wired.com/2015/06/microsoft-knows-exactly-intels-future/
http://newsroom.altera.com/press-releases/corporate-releases/nr-microsoft-cnn-arria10hardfloatingpoint.htm
http://www.extremetech.com/extreme/199814-microsoft-to-accelerate-bing-search-with-neural-network
http://www.wired.com/2014/06/microsoft-fpga/
As we speak Microsoft’s engineers are looking to start using Altera’s new Arria 10 FPGA. This chip is optimized for the kinds of floating-point intensive operations that were traditionally the province of DSPs. Able to run at Teraflop speeds with three times the energy efficiency of a comparable GPU, Microsoft hopes it will help them to make significant gains in the search-and-rank business.
The systematic falsification of financial markets by the central banks have literally herded trillions worth of investable funds into the most risky precincts of the bond market in a desperate scramble for yield.
Cause and Effect are the wrong way round in this sentence. It's the hedge funds/speculative banks whose reckless actions in a 'desperate scramble for yield' caused QE to be activated in the first place. This whole crisis started in 2008 with the reckless gambling Lehmans bank filing for bankruptcy which caused all the banks to seriously reduce lending to each other and customers. This caused a global destruction of money which caused mass unemployment, stock collapses and deflation in developed countries.
Those countries who started QE early and big like the US/UK/Japan have managed to survive this huge financial shock and recovered their economies to go past their pre-2008 highs. Those like Europe who waited until deflation hit every one of their countries before acting suffered the most with stagnation in most of their countries and depression in their weakest countries.
So what about future stored up potential high inflation ? Just not going to happen like I said years ago when QE was started up. It took about 20-25 years for inflation to return with gusto after the Great Depression and it will probably be more like 40-50 this time round.
Why ? Well Governments have had to print a lot of money and lower interest rates to zero just to stop depression-like deflation from occurring. These are levers than can now be reversed in future to keep a lid on future inflation. There are also two more fundamental reasons why inflation will be held down. One, the price of energy. Due to OPEC fighting for market share with Shale providers the Oil/Gas industries are now working flat out to capacity for the foreseeable future meaning energy costs for companies/consumers will be consistently a third lower until total Oil sources eventually run out. Secondly with globalization and immigration, labor shortages are no more so that the inflation that used to come from high pay raises are no more.
In conclusion for about the next 50 years, providing there are no major wars between USA/Russia/China, the World and its stock markets are set for unprecedented growth until the fossil fuels get really scarce and pricey and then it will be a whole new inflationary ballgame if cheap energy alternatives are not ready to take the slack.
I'm pretty sure the Intel architects know more than you do.
Absolutely, however only in the last year or so have they seen the tremendous improvement RISC chips have made in throughput per chip to start thinking of countering. It takes 3-4 years for an architectural response to be incorporated so 4-way SMT could well be coming down the line.
It would not surprise me one bit to see Broxton go back to 1-thread per core.
Silvermont/Airmont already did this although Gen 1 Atom clearly showed the benefit of SMT even in tablet/phone usage.
Doesn't Phi have 4-way SMT?
Indeed it does. FP is all about parallelism.
If 4-way SMT was at the top of the list it would be done.
Xeon and Core-M's performance against the very latest RISC products show that it is overdue. All the emphasis lately has been on improving gpu performance but cpu performance should also not be taken for granted as Core is no longer dominant in throughput per chip.
Core's single-thread performance is so much higher than its competitors that it could afford a 5-10% single-thread hit for the throughput advantage of having two extra threads per core. To counteract this potential single-thread hit the core could be made beefier for use with four threads or more clock-speed dialled in to compensate in a smaller process. This is not Pentium 4 vs Athlon64 where every single-thread performance percentage point counted in evaluations.
I would suggest 4 threads are now needed just as much in mobility as ARM cores are now fat enough to occasionally beat Core-M in throughput with double the cores. Also the design would come in sub 10nm now so any extra power consumption should be negligible if Intel maintains its process lead.
I believe Intel could substantially close these throughput deficits to Power8 if it chose to double the threads on Xeon to 4. Power8 has 8 threads to match its eight-issue core, virtually nothing is left on the table in terms of unused pipelines whereas I believe Intel is leaving 20-30% throughput performance behind by not having quad-threads to match its quad-issue Xeon. Yes Xeon is cheaper, cooler and has generally higher single-thread performance but still there is no reason to give your competition any unnecessary edge. The Broadcom Vulcan ARM server chip will have 4 threads to match its quad-issue and the MIPS chip on which it is cloned from, XLPII, can beat the equivalent network Xeon in some network throughput benchmarks. This issue/thread mismatch is an oversight that Intel really should get round to fixing one day.
The benchmarks are based on public published results
p14 Appendix
http://public.dhe.ibm.com/common/ssi/ecm/po/en/pol03229usen/POL03229USEN.PDF
A two-socket server is a base level server configuration. Power systems traditionally have the best scaling in the industry due to the attention they pay to cache, memory bandwidth and system fabric which is usually leading and state of the art. x86 servers should be cheaper and cooler.
http://www.anandtech.com/print/9251/the-asus-zenfone-2-review
To wrap things up, I'll say that I think the ZenFone 2 is now the device to beat at both of its price points. I think most users who are interested in a phone like the ZenFone 2 will opt for the $199 model, but the $299 model also presents a great value for users who want the higher end specs and the incredibly fast charging. I don't really know where the competition in this part of the market will go, as it's hard to imagine that ASUS or any other vendor could possibly provide even better specs or more features at this price point. ASUS definitely has a great product on their hands, and now that it's available worldwide, users will soon be able to experience it for themselves.
Meyer and his team had over a decade to find a successful successor to Athlon (Athlon64/Stars cores were just Athlon evolutions) and they come up with a slower hotter chip which only Bulldozed AMD's borrowed money stash. Also since his departure AMD have not made one serious attempt to develop a proper mobile chip like Atom has become showing that it was just a convenient topical excuse for his sacking.
Conclusion: Meyer like Read got sacked for bad results stemming from their bad strategic executive decisions.
It's interesting to think back about AMD firing Dirk Meyer for lack of mobile strategy.
That was the public excuse. Bulldozer was probably the real reason but you can't say that without defaming your own flagship product.
Higher highs and higher lows banded by historical upward sloping straight lines. Shows net accumulation over time.
why are they setting aside some 73M shares to pay out Plat.?
You are not including the accrued convertible interest from those loans which is detailed in the 10-K. Also it about $30m at a blended 1.135 now.
http://ih.advfn.com/p.php?pid=nmona&article=63851133
As of June 30, 2014, the outstanding balance due under the senior secured convertible promissory notes issued to DMRJ and accrued and unpaid interest was $34,552,000, of which a $3,184,000 senior secured promissory and $2,175,288 of accrued and unpaid interest are convertible into shares of our common stock at $0.08 per share; a $12,000,000 senior convertible promissory note and $3,320,000 of accrued and unpaid interest is convertible into shares of Series H Convertible Preferred Stock, which preferred stock is convertible into shares of our common stock at $1.09 per share; and a $12,000,000 senior secured promissory note and $1,873,000 of accrued and unpaid interest is convertible into shares of Series I Convertible Preferred Stock, which preferred stock is convertible into shares of our common stock at $1.18 per share.
Anyone have a clue about the conversion price of the accrused interest due?
It matches the interest of the original convertible loan. So for the ~$3m 8c convertible loan it is 8c for the other 20m convertible shares (10m at 1.09 and 10m at 1.18) it is 1.09 and 1.18. It's the original relative small DMRJ loan convertible at 8c that has killed the shareholder value here and there is still over 60m shares to come from that. The complete indifference of Bolduc and now McGann to this is staggering and shows an aloofness and disregard to the common shareholder, that has to provide honest money to buy shares, absolutely mind-boggling.
The amount DMRJ sells each quarter seems to roughly match what they hand over in credit to IMSC every quarter as I suppose they don't want to supply new money when shareholder money can do the job. So once IMSC need less credit DMRJ may perhaps ease off and be more prudent in their selling habits say just satisfying big bids. It makes you think though if perpetual share dilution was the eventual outcome why didn't the company just cut out the middle man in the first place and do the share selling direct themselves on the open market ?
The way this company has been financially mismanaged by Bolduc has always been unbelievable to me. There are literally thousands of loss-making public companies who sell shares to survive, usually around their market price, yet I have never seen any terms as bad as this company has so there is just no excuse for it especially now when the company has real sales and prospects. It is laziness and incompetence of the highest order to persist with this toxic financing and should have been McGann/Licouski's first order of business when taking over rather than not being on their list at all !
Xiaomi Picks Leadcore to Go Vertical - In search of its own custom processor
http://www.eetimes.com/document.asp?doc_id=1326617
22nm Silvermont beats the 14FF A57 S6 in that benchmark which shows that all those nice powerpoints that Intel showed on its introduction had some validity. It obviously shows Intel's disruptive intent that they are placing such a high-performing phone at a lowish price. The 28nm Sofias are accentuating this as they will be priced against A7/A53 phones. Intel have now got a good phone strategy for the long term similar to their server strategy, beat everyone on performance/price and see who's left standing.
I'm eternal optimist here by not thinking Platinum is the evil monster everyone is making them out to be.
The original DMRJ loan was on Dec 16th 2008 and the initial conversion rate was 26c when the stock price was 27c.
http://sec.edgar-online.com/implant-sciences-corp/8-k-current-report-filing/2008/12/16/section22.aspx
http://finance.yahoo.com/q/hp?s=IMSC&a=11&b=16&c=2008&d=11&e=16&f=2008&g=d
On April 11th 2011 these 26c options were repriced by DMRJ and Bolduc to 8c even though the stock price had risen to 58c then. I really can't think of a more evil anti-shareholder act than that, it basically quadrupled in volume and reduced by four the cost of DMRJ's cheapest options even though the stock price had doubled and therefore there was no justification for this greedy vulturous act.
http://biz.yahoo.com/e/111013/imsc10-k.html
http://finance.yahoo.com/q/hp?s=IMSC&a=03&b=7&c=2011&d=03&e=7&f=2011&g=d
If you look at the 10-Q/Ks you can see the outstanding share count going up every quarter in proportion to previous DMRJ 8c option conversions, i.e. they actively sell every quarter, there is no other feasible explanation despite all management's smokescreens to the contrary.
This management like the last has made no attempt to change this toxic financing, in fact they are actively defending it in CCs and asking you to perpetuate it in the AGM for the foreseeable future of this company. The increase in share count asked for to 250m will allow them to do this rather than forcing them to seek an alternative/renegotiation.
If shareholders here want to send a message to IMSC's management about their unhappiness with how they have poorly financed this company over the last 6 years it's obvious that all AGM proposals that ask for authorization or increase in share counts/share options need to be declined. I just don't believe that a company which now has an exclusive $162m IDIQ with an initial 1170 order can not now get a better finance deal than the current 8c give-away one and it is showing the utter indifference/incompetence of IMSC's management that they have not seriously sought a saner financial alternative than DMRJ that preserves more shareholder value for the shareholders.
PCMark is a benchmark that emphasizes real world tests. It performs actions like playing and seeking within videos, writing text and into files, etc. All of these are race to sleep scenarios where the CPU should run at its high frequency for a short period and then return to a low frequency to save power. The quad core Atom Z3580 with its 2.33GHz peak frequency pulls ahead of every other smartphone, including the Galaxy S6 which was the previous leader. I'm very impressed with the ZenFone 2's performance here, and it does indeed translate into the same real world tasks that PCMark runs.
http://www.anandtech.com/show/9261/asus-zenfone-2-preview/3
If we KNOW DMRJ has sold 10 million shares over the last year, for example, then we know they sell 40,000 shares a trading day on average.
Those shares probably funded the loans of new money that they had to supply to IMSC for operating losses during the last year. One thing that might change this behaviour going forward is if IMSC no longer have to borrow any new money eventually i.e. is cash-positive which should start happening in FY2016.
In that case if DMRJ does not have to supply new money here it can be more judicious in its selling and just act as a highly liquid market-maker satisfying big bids when necessary but not blocking the asks leaving that all to retail although I suspect they will block off the 1.40 employee options. I could see the stock price appreciating with that type of change of behaviour at least to 1.40.
If the previous employee options at 1.40 are cancelled they will only be re-issued at a lower price, do you guys really want that ?