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Maybe e.Digital does have a bright future.
How many times have shareholders been expecting the best from the company only to have been kicked in the balls? Let's hope the company is actually making money on these deals. The financials are the best source of info to measure mgmt.'s statements. The best of luck to edig longs and miserable luck to the bashers!
I agree that this is the best e.Digital webcast I've heard- FF actually sounds alive...LOL. One important negative (if I heard right)...only $70,000 gross profit....I hope that I heard that wrong.
Yeah, but there sure have been a lot of shares purchased between $.24 and $.33. Who has bought those shares?....friends of Woody?
murrayhill-
Many are of the belief that the presence of file sharing sites where music can be obtained for free is a "right" and that no one ever needs to spend a dime on music any more. I have a problem with that attitude as well as the attitude from the content providers that they will tell the consumers how we will get product. The "free" music is a direct result of the labels doing NOTHING to capture this new and what undoubtedly will be the future distribution of music and video.
Apple is the only company that has successfully captured the DAP market and they did it with how many other companies involved?....do you know how profitable the Ipod is for apple?
Doesn't it appear as though Apple is heading to DRM???? DRM???
Although I recognize the failures of management, I believe it is unfair to criticize them for going the DRM route. Downloading of music has been going on, is going on now, and will be the dominant method of "purchasing" music in the future. It will happen with people paying a fair price for an easy, painless experience....that is the nature of a successful market. And it will happen with DRM, although not the gestapo-like DRM desired by the labels.
The various boards know of your involvement in the music industry...it sures seems as though you have developed an absolute loathing of the business end of the industry.
Shareholders have been more than patient with management the past 3 years or so and have supported the pps.....management has failed miserably to do its job creating shareholder value. Did they really expect to ever sell shares at $12?
To be fair, with the music industry being reluctant to incorporate a downloading model of distribution, it's hard to distinguish between management's incompetence and unfortunate, rotten luck. A lot of people have lost a lot of money by investing in this industry....it's just not edig and its investors.
With the continued presence of the useless Fred Falk and Steve Ferguson, I wonder if the BOD and mgmt. really care about the going concern of the company. Just a big, fat nothing from edig so far in 2003.....nothing has changed.
Cassandra-
Sorry, but I don't understand your post....and I seriously doubt that you do either. Please elaborate.
Cassandra-
"Resignation of the certifying accountant is a clear signal that the accountant was concerned about signing the audited statements."
This is clearly your opinion...why would you say that when there are a few days left of FYE 3-31-03 and there has been no audit conducted or report to sign? Now it may very well be that EY had issues with e.Digital's accounting policies, but being that they have been the company's auditor for many years and surely is familiar with e.Digital's accounting policies, I would tend to doubt it.
You are stating your opinion and calling it fact....I'm sorry, but you are not convincing and are merely speculating.
Cassandra-
"Clearly, the San Diego office of E & Y was uncomfortable with e.Digital's accounting practices to go to the extreme of resigning."
There is nothing clear at all about the resignation....this is YOUR speculation and certainly is not fact.
How about Ernst and Young simply did not think it was profitable enough to continue having e.Digital as a client and that EY's resources could be better utilized with other clients?
Wow....fply and sblu both file Chapter 11 within a few days of each other. It's easy to say that edig would be where sblu is today if collier's push into retail was continued. e-tail doesn't look so bad after all...too bad the company cannot seem to afford inventories of Odyssey 1000's. The large CE's appear to be successfully squeezing out the innovative pioneers of digital entertainment.
Wow....fply and sblu both file Chapter 11 within a few days of each other. It's easy to say that edig would be where sblu is today if collier's push into retail was conitnued. e-tail doesn't look so bad after all...too bad the company cannot seem to afford Odyssey 1000's. The large CE' seem to be squeezing out the innovative pioneers of digital entertainment.
How many more shelf shares needed to pay Fred Falk's and Steve Ferguson's salaries? IMO the rest of the 20 million shelf shares
will be sold sooner than edig can generate revenues. Mgmt. has to make something happen......SOON!!
austonia-
I'm sorry, but I just can't accept that you're an objective reviewer with your criticisms of edig as an investment....
"Nope, not a disgruntled ex-shareholder, sorry. 5 minutes of research would give you all the information you need to know about this company and whether investing money here would be a smart idea."
Are you a DAP reviewer or an investment counselor? There are a lot of ex and present shareholders that feel strongly about being wronged by e.Digital and would gladly defame the company.
If your reviews did not talk about edig as an investment you would be more credible. It doesn't mean you're wrong...just not objective....and it really shows, which affects your credibility.
austonia-
richardosborne asked a very pertinent question which you totally ignored. Have you e-mailed the weaknesses of other mp3 players to CNET or just the Odyssey 1000? I have no doubt that there are weaknesses with the O1K just as there are with other mp3 players. BTW, there are a lot of disgruntled ex-edig shareholders that display a remarkable immaturity with this company in that they can't let their losses go and move on to "greener pastures." You're not one of these disgruntled ex-edig shareholders, are you?"
iamfriendly-
I can certainly understand investor's displeasure with mgmt. Collier's ill-fated switch to manufacturing, FF's seemingly incompetence, a sales manager who hasn't sold anything, and an IR VP that lies to shareholders. But wait a minute....take a close look at the companies that are involved in digital music.
SBLU, ITRU, EMUS, LQID (the list goes on).....there was even a recent article that talked how Creative Labs was in trouble trying to grow the company and offer relevant products. The point is that the industry (digital music) is nowhere near mainstream yet and that there are a good number of companies struggling for survival...some have been bought out, some are in the process of being dissolved...some have been dissolved, leaving a lot of unhappy shareholders everywhere. Where are the codec and DRM wars which were to e.Digital's advantage? e.Digital is more than digital music, but the other industries in which edig are involved are still developing and most likely unprofitable for most at this time.
So, yes... i tend to agree that mgmt. sucks, but against a background of a nascent digital music scene in which the content providers have their heads up their ***** and a world economy that is the worst in how many years(?), ex and present shareholders need to adjust expectations accordingly.
One other point....IMO anyone who held shares in January, 2000 and didn't sell has no right to complain about the company...the chance for great profits for shareholders/speculators was very real and that is what investing is all about.
But Anyway- Re: the "breakdown"....does imminent mean "NOW" or "LATER." I believe that you have been posting your TA and an "imminent breakdown" warning for the past five months.....maybe it really will happen this time...or maybe the next time..... or the time after the next time... or...//
Cadence- So you honestly think that after the last four years that you can think of new reasons why not to invest in edig?
Yes, it is widely known that edig is a very risky investment...you just found that out?
sricket- I won't be losing any sleep over the disappointment. LOL.
But Anyway,
I'm sorry but I have absolutely no concern about the
JABRA shares.
But Anyway-
I have seen this discussion on the various edig chat boards and have not given it serious consideration. WHY?....
These events transpired long before I bought my first edig shares. When I bought my first shares of edig in October, 1999 it was without any knowledge or concern of JABRA. I sold my position after the SHM in November of last year and have repurchased a small amount of shares early last week. I bought these shares without any concern about JABRA or any expectations that edig would ever see any additional monies (for whatever reason)from JABRA.
More to the point, the JABRA event had to pass the inspection of shareholders and the auditors years ago. Why would there be doubts on the transactions 6-10 years later, especially doubts raised by non-shareholders? Wouldn't the past shareholders or auditors have demanded an explanation or damages??? Why the ruckus now??
The only reasons why non-shareholders would discuss JABRA six years after the fact would be to cast aspersions as to the integrity of management and to spread FUD among investors. I'm sorry, but I don't see any "smoking gun" issue with an event that occurred long before I was a shareholder and has absolutely no bearing on present edig business. e.Digital is hardly immune to criticism, but this JABRA "witchhunt" is a non-event and is simply a harassment of edig shareholders and gives me considerable concern as to the motives of the posters.
But Anyway...
I have no desire to make cyber enemies nor to show the board how clever I am with my insults. All I want is an honest discussion about e.Digital...on both sides of the issues.
But Anyway- Regarding the lease liability...
The $515,000 lease liability should have been on the books for 6 years. NOW.....you posted the balance sheet as of 12/31/02 which clearly shows the liability of $515,000 with a reference to note 9....no problem. BUT...why would you post a portion of Note 9 which has no reference to the $515,000? Sure, the paragraph you posted was included in note 9 but it does not relate to your concern. Isn't this the reference of note 9 that you want to post...
Approximately $515,000 of the accrued lease liability arose in the normal course of business for goods and services delivered to the Company and were recorded at amounts reflected on the invoices and other documentation received from the third party vendor. This amount is approximately six years old. The amount owing to the vendor is still due but as the Company has had no contact with the vendor, the amount may not require payment. Accordingly, the accrued lease liability reflects management's best estimate of the amount that may be due. Settlement of this liability may be either more or less than the amount recorded in the consolidated financial statements and accordingly may be subject to measurement uncertainty in the near term.
This still does not leave e.Digital off of the hook for the $515,000.......but you don't seem to know what your posting about. It could be a simple mistake..or it could be someone spreading FUD. I assume you made a simple mistake.
But Anyway-
"Anyone acting on my technical analysis made money at best and avoided loss at worse."
Maybe yes, maybe no. I have lost any tolerance that I may have once had for "just around the corner prosperity pumps" AND "gloom and doom, this company is a scam bashers."
But Anyway- The defeatist attitude of your replies are noted.
But Anyway-
Your reply was in the grand tradition of Robert Putnam...I gave you 4 posts to be specific. Why don't you just come out and say that you were wrong about your TA? Oh, I forgot,
"While my price target did not arrive on my time projection, those who may have acted on my technical analysis are no worse off today and in fact have avoided a month of churn - and given the opportunity to allocate monies in investment vehicles yielding a positive rate of return."
LOLOLOLOLOLOLOLOLOLOL!!!!!!!!!!! Are you an aspiring politician???? What spin!!!
What good is your TA if it leaves open dates for pps change?
I agree that it is possible that edig can reach any of the lows that you indicated, but that is just common sense with respect to the company's dismal sales.
YOU'RE concerned about being defamed??? LOLOLOL. I am not out to "defame" you but to keep you honest. If YOU are going to step in the ring be prepared to defend yourself.
But Anyway-
Maybe it will happen in "in the who knows when future or maybe never," but gee whiz, if you are going to make these posts, be prepared to explain and defend. Of course no one is 100% correct, but you don't appear to be any more credible than RP. BTW- I have an open mind on TA.
http://investorshub.com/boards/read_msg.asp?message_id=675957
http://investorshub.com/boards/read_msg.asp?message_id=676146
http://investorshub.com/boards/read_msg.asp?message_id=667187
http://investorshub.com/boards/read_msg.asp?message_id=666949
But Anyway-
Thanks for your concern....are you also concerned about people posting worthless, erroneous TA?
But Anyway-
How about some more useless edig TA posts? It doesn't take a genius to realize that edig is in a tough financial situation exacerbated by the company's disastrous entrance into retail.
The pps will have its periodic rises but the inevitable result in pps will be a fraction of what it is today if the company can't generate a profit as investor's goodwill has rightfully long left this stock (and many others as well).
What's a self-proclaimed market genius (or whatever term you would like to use) like yourself hanging around the edig boards?
But Anyway....
It's been no secret that e.Digital's abbreviated foray into retail has resulted in economic misery for the company. Hopefully all of the charges for the retail disaster have been recorded by 12-31-02.
But Anyway...could you please explain why...with your fancy charts that your TA on edig for the past few months has been basically...er....hmmm....worthless? Unless TA allows for open ended dates for pps events to occur. I bought back in yesterday, not a large stake....WTF...this time without the emotion...LOL.
Who is going to want to carry both a DAP and Personal Video Player???? There will have to be integration to combine the two functions. CE devices will be more and more complicated Here's to hoping that edig can accomplish this integration the best and cheapest with edig's tech.
Although I am no longer a shareholder of edig doesn't mean I have no desire to buy back in. If edig can survive this summer I will be an eager investor later this year. In the mean time I find it a hell of a lot less emotional to root for edig without being a shareholder!!
Good luck to all edig longs.
hi, j11//
D.inkie- The problem here is that it takes a while for a company to develop brand name recognition. Edig is introducing the 300/800/1000 too late during the holiday season to garner name recognition. IMO, the statement you were referring to is just a poor excuse for not having cutting-products on the market NOW. We shall see.
There is no such word as "speculate" in edig language.....LOL.
BTW, I also want an Odyssey 300.
murrayhill- "They" will have no choice. IMO those involved in the music industry that successfully implement an on-line subscription service will prosper. Those that do not will be selling out to or working for those that do. Either stand in the way of on-line music and get crushed or hop on board and be successful.
emit, I would not be surprised if edig was in contact with FPLY and Transworld regarding compatibility of edig devices with the FYI kiosks.
In retrospect, after reading the various edig message boards for two and a half years and being a shareholder for a little more than two years, I must admit that shareholders' conversations with RP posted on these boards are not informative and often misleading. Very little has come true with regard to what management has said about oems. I can't fault the posters becuase the purported conversations with RP are similar to mine with RP. At least mgmt. has kept its word regarding the edig branded players.
e.Digital has the best selection of DAP's available to the public.....come on Fred, close those deals.