Replies to post #50790 on e.Digital Corporation (fka EDIG)

[Cassandra]

niz: e.Digital has never been able to get conventional financing even when it was trading in the double digit dollars per share!

One of the reasons they were denied a NASDAQ listing was because of the abysmal balance sheet. In a last ditch effort, they issued the Series C Convertible Preferred shares in Sept. 2000, which was the worst kind of toxic, death-sprial financing vehicle. But that was all the company could get, despite the fact that they were still holding out hope of being listed on NASDAQ.

e.Digital's financials and horrible credit rating render it completely unworthy of any kind of normal financing. Any serious investor should pull a Dun & Bradsteet report on the company.

Check out what happened with the Immanuel Kant loan, the mysterious offshore backers of which controlled the ability of e.Digital to sell its shelf shares. It is highly likely that these backers shorted EDIG down to the 30 cent range. Additionally, the effective interest rate ended up being 65.5%.

e.Digital is currently in default on its $750,000 15% loan since it is unable to pay even the interest only payments of $7,500/mo. The lender has agreed to a forebearance agreement to put off foreclosure.

No conventional lender would touch e.Digital.

[gernb1]

Gateway reveals iPod clone
By Tony Smith
Posted: 12/11/2003 at 15:05 GMT

Reg Kit Watch

MP3 players

Gateway has announced its first hard disk-based MP3 player, the 20GB Digital Jukebox DMP-X20.

It's not a pretty as the Apple machine, nor as compact. The DMP-X20 weighs 218g (7.7oz) to the 20GB iPod's 159g (5.6oz), and measures 10 x 6.5 x 2cm (4 x 2.6 x 0.8in), compared to 10.3 x 6 x 1.5 (4.1 x 2.4 x 0.6in) - yielding volumes of 130 and 92.7, respectively.

Gateway has Apple licked on price, however. The DMP-X20 costs $300 - $100 less than the 20GB iPod. Its 2.5in 160 x 128 LCD is larger than the Apple's 2in panel. But it only has 16MB of anti-skip buffer memory. Feature-wise it has clear advantages, too. There's a built-in FM tuner with 12 station pre-sets, five EQ pre-sets and an integrated voice recorder.

The DRM-X20 supports MP3, WMA and Audible content, transferred to the player via a USB 2.0 link. The player's battery will go for ten hours before needing a recharge, Gateway said,

The black-coloured, aluminium-clad player will ship with earphones, remote control, carry case and belt clip. It requires a Windows XP, XP Pro or 2000-based PC. It will go on sale on 26 November.