Mr. Know It All, eh? I'm VERY surprised you're still shouting your mouth off on ANY of these boards after laughing at the longs on the AMBA board. You said you were going to come back at 4:00 yesterday and laugh at us. Isn't that what you said? I remember you from Rocky and Bullwinkle. You were almost as funny then as you are now.
inside the sec filing;
Item 7.01 Regulation FD Disclosure
The Company's cash balance on June 30, 2013 was $56.1 million. The Company expects that additional cash expenditures related to the ongoing accounting evaluation (including payments under the Bonus Plan, if any) through the fiscal year ending December 31, 2013 will amount to approximately $11 million to $14 million
Don't they have a Director of Revenue Recognition? Where was this guy, asleep at the wheel? Implied PCS is rev rec 101 - how could this have gone wrong?
Can someone explain how many days left before AVID officially get delisted? Did NASDAQ give them more time to clean up the mess?
Looks like the robot-reply 'great info' bot is back. Ignore this report - it's from a shill, and it is filled with lies
AVID is very modestly valued with over $70mm cash and no debt.
A private equity could acquire AVID and sell it in pieces doubling or tripling their $$$ in a very short time.
All the law suits are nuisance suits by ambulance chasers and will not prevail.
Unsurprising to see Ken Sexton the former CFO has been shown the door by the incoming CEO Louis Fernandez. A wise move and indicator for me at least that there is more bad news on the horizon regarding accounting at Avid. Louis Fernandez has one shot at cleaning Avid up at the start of his tenure. I expect that when the 2012 results are finally reported they will be bad, and previous years accounts will have to be restated, - not for the better. I cannot reconcile how $250M of goodwill sits on the 2011 Avid balance sheet relating to products and business units Avid has either closed, divested or terminated, in 2011 this represented 40% of Avid's assets. I think Avid has a real credibility problem at the moment and I think the stock has yet to hit new lows and is uninvestable this side of the 2012 results.
Sentiment: Strong Sell
But who would buy Avid? Adobe has Premier which they have based their video future on, and Apple has no interest in Avid. Blackmagic, perhaps? Sony? Avid is a very, very small company with a tiny market cap - easy to buy, but who will take a chance?
Terrible report. obviously written by Avid shills. Dozens of fake replies praising the report didn't work very well either. The fundamentals of this company are incredibly grim. They can no longer hide their inability to compete in this market.