Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Too funny! Don't worry about it, I certainly don't. Knowing Mr Gruman and his modus operandi as I and others do, I sleep well at night. But, go look up the original tweet exchange, read the actual HIPAA data breach reports (on-line), and re-read his full article. PS he sells "How to books" for iOS devices which after the click bait headline is what the article is really about.
Regardless, rather than concern yourself with this, why are you not asking some serious questions about the CEO of Sphere. What was it the Ontario Court judge said in his recent settlement of a case PT was involved in going back to 1996 for a casino startup?
"He participated in insider trading, or should have known that what he was doing was insider trading, and profited $500,000" The court case and judgement are public record.
When did Google start using Sphere 3D products? I believe that is incorrect.
Yes, a merger that is only 90% complete is in fact, incomplete.
The stock is being manipulated. But in which direction my friend? And by whom?
I stand by that. Name a single end user client that has deployed Glassware. Not renamed Overland storage or V3 appliances, not intra-company transactions between Sphere and Overland (remember, the merger has no been completed yet so I don't consider sales from one party to the other "real open market sales")
NovoRad, a 200 employee company, has signed as a partner. I agree, that is good news. Now, have they sold any product yet? What is the end user market success and acceptance of the Glassware product.
By the way, does anyone know what the price for Glassware is? If Sphere sells a 1,000 user system, what is that worth in real bottom line revenue?
Thanks
As I have said to their execs, they have an opportunity to market low to mid range storage, a virtual desktop appliance and possibly some limited applications for Glassware.
With a lot of work, they have anise business that could do $100 million per year, perhaps. Might get lucky and grow marginally beyond that. And there is nothing wrong with that. Its a good business.
But, will ANY transform into a multi-billion dollar world beater, or be the target of a multi-billion dollar takeover play? Go to Vegas, it's more fun :)
First they argued that they could indeed do it. Then, when pressed, they stated it was "only an example of what Glassware could deliver".
And then the most interesting statement: "well, that's the stock promotion side of the company saying that, it's not the technology side of the company making that claim".
The conversation was via telephone with one of their execs. I had expected them to "tidy up" their marketing materials but alas, the misleading statements persist.
As these marketing materials are directed at potential investors, I think it is of greater concern than if it was just a simple technical error in a brochure.
No idea what it is worth. No sales, no revenue, no client references. Just hype, and vague hype at that. And mostly from chat rooms or "informed" investors" :)
But, one thing is consistent: no supporting documentation or technical white papers, and no third party validation. There is nothing on the web site either. The patent applications are incredibly vague, repetitive and describe an emulator (the phrase used by the developer in the patent app), not a micro visor or micro container.
My conversations with industry experts far more knowledgable than I has provided a consistent theme: "no idea what it is" or "total bs/vapourware/hype".
It is why I am surprised that Sphere has failed to follow up on their commitment to providing a deep dive tech review to ZDNet. It would provide a true independent review, and give Sphere massive global marketing exposure.
If Glassware was real.........
Thank you for the clarification. However, please note Overland is not reporting $10 million EBITDA, but less than half of that and only through next two quarters.
The rest is "projected" by unnamed "analysts". So, with the hottest products in tech, a 16,000 man sales force, and global clients they can only project enough earnings to cover this $5 million bailout loan from Cyrus.
Sphere, though they are a publicly traded firm, has offered no guidance whatsoever.
I would expect that may not be the case.
Consider the following:
a/ a sandbox is an easy way to demo Glassware and b/ it only takes six clicks to install, and c/ ZDNet is one of the most widely read and influential trade publications in tech, and d/ both sales and technical staff at Sphere committed to doing the demo.
If Sphere really wanted to promote Glassware and get exposure, ZDNet is the ideal forum.
Pure conjecture but this may have more to do with keeping a low profile and not making exaggerated claims. Also the reason Peter Tassiopoulous did not present at the recent Cambridge Investor Conference as he was scheduled to do.
Far too cynical :)
Just accurate and informed observations from a "neutral".
I read a lot of references to Google contracts and Google buying Sphere. Maybe I missed the news about those Google deals. Could someone send a link? Thanks
Actually no. Off ill with a bad case of bronchitis so have time to catch up. :)
I don't consider Overland receiving another lifeline to keep the doors open particularly exciting or positive news. In fact, its the opposite. It means that it is unable to generate sufficient cash flow from sales of tape, storage, hyper converged appliances, virtual desktops or Glassware.
Thanks, I did. The question was, and is, rhetorical. The hottest company in tech (if you believe much of this board) has to borrow $5 mil to keep the doors open and it gets spun as encouraging news.
Encouraging news would be PR about signed revenue generating contracts for Glassware.
Another question. The combined entity of Overland/Tandberg is almost worthless. The value gap between that position and the share price of ANY is purely based on the assumed value of Glassware.
Without Glassware and all of its presumed benefits, the companies are losers. So, why no news about Glassware contracts, revenues, etc.?
Why still no white papers, technical docs or in-depth third party tech reviews of Glassware. I understand Ken Hess and ZDNET are still waiting.
Ok, let's consider this news in light of earlier statements from Sphere3D management.
The company "may" earn less than $10 million in 2015. However, per the posters on this board, Sphere management has stated that it has 12-18 months to make an impact or its game over.
I have to wonder why? The company has 200 staff (low costs), a 16,000 person global sales force, existing client relationships with all major corporations and governments, and the hottest tech in the world that will be the "next platform for the cloud".
So, with all these incredibly positive signs, why are they only projecting less than $10 million earnings?
You mean borrowing another $5million to keep the doors open is considered "encouraging news"?
Or how about the fact that NASDAQ has a far higher standard and more "teeth and bite" than the TSX when it comes to false/misleading statements from company executives etc.
"Disruptive technology" Based on what evidence?
Just to be clear, Whats App had approximately 400 million users worldwide, recurring annual revenue over $100 million, and technology that could disrupt the $120 billion text market, plus pending voice technology.
I have no position in ANY whatsoever, including short. Nor am I affiliate with any company that has any position in ANY. And as a Canadian I would be thrilled to see a homegrown company make it big. Be a nice change from the recent challenges of Nortel and RIM.
For the record, "enterprise" is considered Fortune 1000, possibly Fortune 2500. Companies the size of Novorad are considered SMB: small medium business. Different markets entirely that require different skills sets, technologies and support infrastructures.
And do not confuse the capabilities of the V3 VMware based desktop appliance with the capabilities of Glassware 2.0. They are different technologies, and per Simon Bramfitt, not integrated to any degree.
Regards
Sorry to disappoint you, but I was offered a demo. I did not ask for one. Frankly, I would prefer to read an in-depth technical view of the solution from an independent third party and respected publication such as ZD Net. I am sure that their technical team would be enthusiastic to test Glassware 2.0.
As I have stated several times, simply demonstrate a typical business workload: Microsoft Word/Excel/PowerPoint plus Skype, real time video, and Adobe Illustrator for the graphics design market. Pick a device: iPad and a Samsung Galaxy are probably good choices that represents what many people use.
Use the applications as you would on their native device and operating system. If Sphere can do this, I will happily jump on board with both feet, and proclaim "I was wrong".
The workload I described is a typical world for a business user today. Static text based images are "easy", real time graphics are hard. But, that is the benchmark and the user standard that VMware, Citrix and others have struggled with.
If Sphere3D has been able to develop that it will be a remarkable achievement and worthy of the current stock valuation. And higher.
There is a huge potential market for a solution that can satisfy this standard. But, let's get past the hyperbole, and the speculation that company X will buy Sphere3D. Why? Enterprise CIO's do not buy on hype but on tested, proven, proof of concept results and business case.
In other words, use some common sense people. Regards.
I don't disagree. However, the issue is simple: connectivity to the "cloud", regardless if public, private or hybrid is 100% dependent on network access and throughput performance.
Today, that is not always the case. How many times have you found yourself in a dead zone or heard the phrase "can you hear me now"?
If productivity, or lives are at stake, local data is a prerequisite in many cases. And security of that data is the issue with the terms and conditions of HIPAA data breaches.
Please note this from Cyrus Capital website:
"Cyrus Capital Partners is a distressed debt fund manager that actively invests across the capital structures of highly leveraged and financially distressed companies in North America and Europe."
"Highly leveraged and financially distressed" says it all. Companies like that do not have the capital to:
a/ create new technology
b/ attract risk adverse enterprise buyers.
Why would an enterprise buyer or CIO, with options ranging from Microsoft to IBM, buy technology solutions from a company that is financially distressed?
Perhaps I am missing something, so please educate me.
The link to the articles in The Register are found on Sphere's main page. First article is a direct connect, the other articles can be found on the Register page itself. Easily found.
http://www.theregister.co.uk/2014/05/27/sphere_3ds_mini_microvisor/
http://www.theregister.co.uk/2014/05/16/overland_storage_merges_with_virtualiser_sphere_3d/
Please read. The author raises the same questions that I and others have raised.
Gents, its not a question of "not being a fan of Glassware". I have been in the IT industry for thirty years,and have seen my share of groundbreaking technology.
I am just highly dubious of the extraordinary claims being made (and I do mean extraordinary!), and have asked for direct proof (a demo) or a review from a reputable third party. Neither has been forthcoming.
Please note that the links on their web site to the The Register connect to articles that raise similar questions. Please read them.
Let's assume that Glassware was a real product, or a "micro visor" as they claim. Why do the patents (which are incredibly vague and essentially duplicates of each other) reference emulation technology and not virtualization technology?
But, lets assume that the Glassware product does what is claimed? Why no client testimonials? Please don't point to the school district that uses Chromebooks. That was a V3 appliance sale. The V3 appliance is a vanilla x86 server with DAS that uses VMware. It had almost zero value proposition and failed in the market. V3 went bust, and the IP is at the centre of a lawsuit.
Let's review Tandberg and Overland. Both failing companies that were, and are bleeding cash. Neither company had a decent value proposition that would allow it to compete with heavyweights like EMC, NetApp, IBM, Hitachi and so on.
As I have said to Peter Bookman, "'please prove me wrong'. Peter is a very nice guy, and I wish him well.
However, let Sphere present the solution to a reputable publication such as ZDNet and provide a truly independent review. That should not be difficult to arrange for such "groundbreaking" technology. In fact, I am surprised that tech publications aren't fighting for the chance to test drive such a remarkable technology.
Until then I remain very skeptical. As should you.
But as PT Barnum once said " there's a sucker born every minute".