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Parkervision Inc. Message Board

  • teamrep teamrep Aug 19, 2009 10:48 AM Flag

    Ode to a Dying Phenomena

    Short History of American Electronic Entrepreneur Development:

    > Early discoveries in electricity, light bulbs, and electromagnetic signaling led to the dawn of an age that saw major industries developed. These included the electric generation and distribution system, lighting, refrigeration, telephony, radio broadcast and PtP communications. Those basic uses led to a plethora of electronics applications in industry, military, medical and consumer applications.

    > Companies that developed electronics were most often started by hard working inventors who toiled for up to years on their own and borrowed money before they met with success. In any case, it was unheard of for decades to 'go public' before a company had substantial sales and, most often, substantial initial profits. Going public was typically done to gain capital for expansion and move into new markets. The founders did not expect to make huge profits until the company made huge sales and had earnings.

    > The electronics industry evolved and found that it could use semiconductors and then planar semiconductor processes to manufacture electronic components in mass quantities at lower cost. This led to an explosion of applications including popular consumer applications that made several companies and individuals vastly rich. But because up-front investment in R&D and manufacturing was required, the business model shifted to first acquiring venture capital or, in a few cases, government programs before sales and profits could be made possible. The VC funding model made use of the large amounts of capital developed by earlier success... Silicon Valley and other centers of development were hotbeds of VC funding.

    > During the past ~25 years, the start up business model has shifted to funding companies to take them public. It became a secondary goal to make a profit and forge a sustainable business model. There was so much money to soak up with an IPO that founders and VCs could count on recouping a profit if they developed a promising business story. At 1st it took mounting sales and at least a glimmer of future profits before the initial cash out of stock. But as each bubble grew bigger than the last, it became the mantra of VCs to look for 'good stories' that could be sold like hot movie tickets... but with public companies so long as you evolved the story so it did not grow stale, you could roll it on for years and years without ever having to show sales or earnings.

    Parkerscamavision is a case in point: It is simply amazing that a company can go on for so long after having shape shifted from one business model to another while never having developed meaningful revenue and never a profit.

    Why aren't the VCs, BOD and management in jail? Collusion and purpose is difficult to prove... they can claim they are doing nothing illegal and there is no government agency and apparently or group of investors or class action lawyers willing to take them on.

    Besides, there is nothing worthwhile to go after.

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    • urspond....
      that was a rhetorical question...not meant to be read literally. BTW, there are tons of companies who announce in 6-8 weeks. Intel for instance.

    • iamrefr -

      You comment, "They should be in a position to announce the results a day after the quarter closes, isn't it?"

      No. If they kept financial records on a cash basis, maybe, although I think a couple of days would be more realistic. Accrual accounting requires booking all revenue and expense items that are attributable to the accounting period. Generally invoices coming in (and, in the case of PRKR, we longs hope soon going out) are not complete until as much as sixty days after the reporting period. This is particularly so if there are adjustments needed in the invoice after it is received.

      You will note that public companies generally take ten weeks or so after the end of a reporting period to prepare financial statements. Preparing GAAP statements for a public company ain't easy and that is why the compensation for those who are adept at it are what they are.

      You could pay much less but then you would get - - someone who thinks you can produce a GAAP statement the day after a quarter is complete.

    • cap_depreciation_fund cap_depreciation_fund Aug 20, 2009 11:10 AM Flag

      I suppose that since they have never have any accounts receivable, she should get 1/2 pay ;<)

    • At least JP does some work and I am sure Sorrell does too, never mind what people may say about the quality of that work.
      what blows my mind is Cynthia - CFO drawing 213k? Is her contribution worth US$800 or so per day?
      what value does she add - book keeping for 3.5 mill per quarter? and then needing 40 days to put together an expense statement (aka P&L)
      They should be in a position to announce the results a day after the quarter closes, isn't it?
      perhaps JP can buy intuit or tally and do the book keeping himself

    • "JP's may be the "Get Rich or die tryin" or the
      "D2Jeff" (direct to Jeff..)!"

      Jeff may be inveterately optimistic to the point of delusion but getting rich off of Parker he is not. I recently received a flyer from their new IR concern and they point out that the Parker's have over 15 million invested in the company. Maybe his dad left it to him I don't know but someone who shares that name is not a loser. As to the post linking Parker Sorells and Pohleman, that does a disservice to David Sorrells. The technology does work it just that the rest of the organization can't sell it. They suck.

    • I like the D2J ! - Clever.

    • The singular form is phenomenon.

    • cap_depreciation_fund cap_depreciation_fund Aug 19, 2009 11:01 AM Flag

      prkrscamvision is an interesting little scam because JP has kept it alive so long - It's not quite the most imaginative one though.

      I find Blackpower is an example of a more interesting scam ...

      http://www.blacklightpower.com

      eestor is one of my favorite scams too. see http://www.theeestory.com

      The thing about doing a technical scam, like the above 3, is that as long as you have a few engineers for doing some "development" it appears it's completely legal - after all there are many legit companies that failed to complete projects and "science is hard".

      Financial scamsters are truly the scum of the business community but it's certainly something the small investor should study nowadays..

 
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