Replies to post #30064 on e.Digital Corporation (fka EDIG)

[But Anyway]

Right, $600K in 97, $4M in 98, $40M in 00. Over the same period of time e.Digital's interest in Jabra dropped from 12% in 97 to one-tenth of one percent (0.1%) by the closing of the (net aggregate potential) $75M acquisition.

12% to 0.1% for about $315K ($276K + $40K in share buyout from GN Netcom) in net-proceeds, over the course of three years, from the sale of their interest while the company's revenues increased 65,000% over the same period of time. From a potential of $4.8M plus additional payouts to a net-realized gain of $315K over the course of three years. Whomever was lucky enough to purchase that remaining 11.9% from e.Digital for $315K made a killing! And that is the pertinent question, who bought the ownership? Affiliated individuals? e.Digital insiders? Polis? Davric? Norris? Putnam? Falk? Joe Sixpack? Frank?

What is most unsettling is the accounting for the Jabra investment on the balance sheets. Shares start disappearing and e.Digital's theoretical carrying value (they carried it at no cost) dropped 90% over the course of one year. Extremely sloppy accounting.

Visionaries indeed! They envisioned a way to extract a extremely valuable asset from the balance sheets of a publicly held company (owned for the benefit of shareholders) and into the possession of unknown individuals and/or entities for pennies of it value just a few years thereafter.

Oh, but that's the past and has little to do with today or the future; except three of the four individuals in key management positions then are still at e.Digital now.

[But Anyway]

Further..

JABRA had total revenues of $600,000 in 97, getting almost $300K was a steal AT THAT TIME.

Then the same can be said about EDIG AT THIS TIME, right?

If you own 10% of e.Digital, or any percent for that matter, selling that 10% for $2.5 million would be a "steal" in light of the company's trailing twelve month revenue of $2 million and net loss applicable to share holders of $4.5 million.

Certianly then e.Digital investors should capture this "steal" immediately. Correct? So you are advising shareholders to sell?

[jtdiii]

berge.(all just my humble opinion). EDIG management getting "almost $300K(in'97)for a product that only had total revenues of $600,000 in '97 was a steal AT THAT TIME " is representative of our existing management's history of bad decisions.

Let's face it. In 1997,EDIG management didn't have the brains/contacts to take JABRA to the next level. That includes not having the intelligence/contacts/savvy/relationships/financial acumen/cunning/imagination/ability to communicate the need for access to capital/cunning again/common sense/etc/etc to execute a plan that would make the product(JABRA)successful....What's changed???

EDIG management sold JABRA to a company that had the management and the access to capital that EDIG didn't have. Let's hope history doesn't repeat itself. JABRA was a good idea, but was in the hands of bad EDIG management. Sound familiar for mOS??????

By your reasoning, FF/RP selling mOS(in 2003)for$4 mil(2x 2002 gross revenue)would be equally ingenious(what a steal for us?)....(not that $2mil in 2002 gross revenues could be attributable to mOS)

I'm sorry, but every time I see someone glorify the past stupidity of our existing management....it just makes me mad.

When are you people going to understand that NOTHING will happen until we have removed these bumbling blood sucking losers we have for a management team.