DABOSS: What about the last 5 years of EDIG... Can you defend this?
THE HISTORY OF EDIG...
Management Guidance:
- NASDAQ Listing "Confidence"
- "Blow-out" earnings (actual $82K in gross revenue)
- 20% or better gross profit margins (actual -90%)
- Fujitsu-Ten order of 4,000 units to begin shipping (1,000/mo) in Sept. 02
- $2.6 million revenue guidance for QE 9/30/02 (actual $290K)
- "Exponential" revenue increase for QE 12/31/02
- "Revenue-Neutral" (whatever that means) by 3/31/03 (end of FY)
- Company will be profitable when "revenue exceeds expenses."
Revolving Management
1. Woody Norris is president...
2. Fred Falk is president...
3. R. Gordon Root is president...
4. Fred Falk is president (again)...
5. Jim Collier is president...
6. Fred Falk is president (again)...
Insider Trading
- All 3 executive officers sold 8 cent options on the open market on the day of the NASDAQ application PR and the day after, netting millions in personal gains.
- Numerous insiders including Woody Norris and Robert Putnam registered over 13 million restricted shares to sell in July 1999.
- No insider buys on the open market in several years, if ever.
Revolving Business Plans
1. We will license our proprietary technology!
2. OK, well that didn't work... We will make and sell consumer electronics!!
3. OK, well that didn't work... We will license our old proprietary technology!!!
4. OK, well that didn't work... We will we will make and sell consumer electronics!!!!
5. OK, well that didn't work... We will license our old proprietary technology!!!!!
6. ...
Things that are (er, ah, ahem, were) going to be HUGE for e.Digital
- MicroOS! Destined to be THE global standard for DAPs and other handhelds!
- MicroOS 2.0
- MicroOS 3.0
- Royalties and licensing fees will dwarf Qualcomm's CDMA
- Lanier contract ? e.Digital will dominate digital dictation
- Voice-Times Alliance
- "Equity" Investments
- CES 2000
- CES 2001
- CES 2002
- CES 2003
- CeBit
- DRM - Secure music downloads
- Multi-Codec - only MicroOS can handle multi-codecs.
- ePAC will rule! MP3 format to fail!
- MicroOS secretly imbedded in Intel and TI chips
- Ability to get products to market quicker than the competition.
- "Stacks" of PRs
- Non-disclosure agreements (NDAs)
- In-store kiosks
- Set-top boxes
- Voice to text and text to voice (VTT/TTV)
- Bundling!!!
- Victor Ramsauer appointed to BOD (now we should qualify for NASADQ)
- Skip Matthews appointed to BOD (proves EDIG is tight with Intel)
- Robert Jecman appointed to BOD (really proves EDIG is tight with Intel)
- Jane Rinard - need a CFO to count all of the money that will be coming in.
- DataPlay!
- Jim Collier, the savior of e.Digital, willing to be accountable for his promises!
- Announcement of a "Strategic Partner!" Is it... Intel? TI? IBM?? No, it's APL!!!
- Consumer Electronics Business Unit and Tom Boksa
- VoiceNav
- Telematics
- Infotainment
- DivX
- WeDigMusic.com
- Bryan Jones
- Internet radio
- APS/In-Flight Entertainment (just don't link to the web site)
- Hammacher Schlemmer Catalog
- Skymall Catalog
- Fleishman-Hillard (Look at their other clients! It must mean we are working with them!)
- e.Digital Yahoo! store
- MTV
- ThunderDorm!
- CompUSA
- The Good Guys
- College Bookstores
- Treo - THE iPod killer
- Odyssey 1000 - the NEW iPod killer
- Drag n' Rip
- Parade Magazine
- The 2002 holiday selling season
Delayed, Scrapped and Missing Products:
- Lanier Cquence Mobile (delayed a year, quality problems, contract lost)
- Puck (scrapped)
- Maycom (MP2000 delayed 2 years - DOA)
- Q-Design (no product ever came out)
- Remote Solution/Hango Cleo (no product, relationship terminated)
- Hy-Tek Treo (scrapped)
- DataPlay Orbit (scrapped)
- Eastech (no product ever came out)
- Toshiba DataPlay Player (no product ever came out)
- Samsung (no product ever came out)
- Evolution/MTV DataPlay Player (scrapped)
- Renegade (scrapped)
- Odyssey 300 (delayed for several months)
- Silhouette ("shipped" but then "pulled" due to "battery problems")
- Odyssey 150 (no longer discussed, apparently scrapped)
- Odyssey 800 (no longer discussed, apparently scrapped)
- Odyssey 1000 (out by Sept., no Oct., no 11/15, no Thanksgiving, no Christmas, no Feb.)
- DivX Player (was going to be out in 2002 - now scrapped)
- Eclipse product (was to start shipping in 9/02, now spring/summer of 2003?)
Unexplained disappearances:
- Jabra Stock owned by e.Digital/NCII
- Woody Norris (Founder, Chairman of the BOD)
- R. Gordon Root (President and CEO)
- Jane Rinard (CFO)
- Fleishman-Hillard
- Robert Jecman (Board Member)
- Skip Matthews (Board Member)
- Jim Collier (President and COO then Board Member)
- Tim Boksa (VP Consumer Electronics)
- Heidi Langbein-Allen (Director of Logistics)
- Norbert Daberko, (VP)
- Brian Gray (Director of Engineering)
- Bryan Jones (VP Broadband Entertainment Unit)
- Ernst & Young
- Wendy Ravenel (Jack of all trades)
"Excellence" in Promotions
- NASCAR sponsorship - driver didn't even qualify for the race.
- CeBIT - Zibel couldn't find e.Digital products or anyone at the IBM booths who knew about e.Digital.
- Sponsorship of Ice skating show. Misspelled Banner advertising the "MPX" Player
- ThunderDorm! Trailer show.
- Product placement on cover of Parade magazine - product not available for sale - anywhere!
Truly a "Global" Company
- Mysterious off-shore shell entities as lenders and investors (I Kant, Apriori, Canusa, etc.)
- Canadian auditors until this year.
EDIGspeak aka Putnamese
"Expect"
"Anticipate"
"Soon"
"NDAs"
"Call me and let's talk about it."
