"We did raise money in the quarter to help bridge us to the point where we could act upon our strategic options. These activities include everything from full acquisition to joint ventures to infusion of strategic money, to strict fund raising and restructuring. While we have narrowed our activities, we had not yet come to a closure."
I have a little bit different take on that line....my contention is RS and board overvalue the company, especially in light of their current share price and financial situation...to me, that points to an substantial asset sale....that is why the Toshiba rumor rings true...I think RS and board think if they can bring in a large cash infusion from say, sale of consumer, that they have a chance to make it on Enterprise only...do I agree with them? No, I want them to sell the whole company but, if there are 'interested parties' for a full acquisition they are probably low ball offers...RS and board want to unlock that value but hard to do when broke...may have to settle when given a choice between BK and low ball B/O...so, I think they are pursuing the sale of consumer and get that done soon...
Well put. The company is not doing well at all. Delayed filing again. $33M in revenue for Q'2. No idea for Q'3 & Q'4. Yes buyout is definitely a possibility, but didn't sound like any takers. I still think that $MU would be most likely but nothing indicates that. I heard Toshiba was interested in parts of $OCZ and that name has come up from time to time over the past 2 weeks. So what will that do to the stock price? Not sure, but it's not going to rip bc they sold off a piece of the company and recieved $32M. Especially when that piece was bringing in revenue and not to mention $OCZ has dramatically decreased from $100M down to $30M+ giving shareholders nothing to scream about. This will infuse capital like mgmt said, DBank will assist with the sale, Toshiba most likely the suitor, and $OCZ will trade accordingly to their market cap which isn't that much and rightfully so. Only shot at making cash is B/O... And that isn't happening for a while. Invest in something else. Total waste of time.
I would be very disappointed in upper mgt if selling the company was not on the table.
It is upper mgt's responsibility to work both sides of the table. Must do what is necessary to make the co. a success and to sell it to make the stock holders most profitable. Always about the money, even when they say it isn't.