Net cash used in operating activities:
Need for cash decreased 9X last year
Good idea. A 10% salary cut from the execs would literally add 1c-2c to yearly earnings.
The BOD should also except no more options. They F'd up
The execs have gotten to fat, comfy, and lazy!!! that is why I want an outsider for CEO
If you don't give forward guidance, no one will buy in ahead of a move. One qtr of profits won't do it either. It just seems absurd to me that a company that's been public for 15 years can't give guidance. How hoes Ned deserve $550K?
BTW - Notice that Ned will now be the object of my distaste going forward
I hope it removes the Avis rental screen. If it is essentially unchanged from last time, and Ehrman gives the same tired answers, I think I am out. Too many other opportunities out there
I don't understand your comment other than the last sentence that Jagid lied.
The units take 1 minute to install. Anyone can do it. They can be updated in the field wirelessly from a central station. Bandwidth is the same as wifi or cell bandwidth
It just sounds like we are back to ground zero with these guys piloting again. Really? 15 years after the first pilot we are piloting again? If I was Ehrman I would be embarrassed to make that statement. He should be enraged.
If they said they were exploring "strategic alternatives", the stock would be up today
going down the path of more of the same with no urgency is just stupid
1c loss vs 2c loss. So essentially they are at break even now. A $1M rise in core and they are generating serious cash.
If they have news of new wins, they should put it out on Monday
Give people the peace of mind that core is solid this qtr
it was not a question of "price and quantity" as he stated. It was technology. I think the BOD must claw back his pay and bonuses or risk class action lawsuits. His options should be cancelled. His restricted shares should also be cancelled. He should walk away with no stock other than what he paid for (which is zero)
over $100K in last 30 days. Don't know what happened but this will have a negative effect of 1c off GAAP EPS
Coin certs are trending higher than last year. Will have preliminary qtr numbers in 2 weeks.
so it boils down to this: Avis was willing to spend $500M+ on a solution that could never be deployed on more than 50K cars but is unwilling to spend $100M on a solution that could be installed on 300K cars and pays for itself in 1 year
I don't know who the technology guys are at Avis but that is obviously why they are technology guys at Avis; they couldn't hack it at a real technology company.
I don't know any CIO that buys a solution that expects it to be cutting edge for 5-10 years. Totally unrealistic expectations. Technology changes so rapidly how could anyone 10 years ago (before smart phones were even mainstream) fathom what is going now?
The IDSY rental solution pays for itself in less than 1 year. That alone should be sufficient to drive Avis. Avis paid over $500M for ZIP and obviously ZIP is not a 5-10 solution. If it was, Avis would not even be dealing with IDSY. ZIP solution is just too expensive.
the only solution that could possibly last 10 years is an app dowloaded on a customer's smartphone that plugs into the cars network. No person keeps a smartphone for more than a few years so as technology changes, the customers would bring the new technology as long as they had the app. Cellular technology changes every 5 years so an embedded phone (ZIP) is not the solution either
Time to cut Avis off and let them stew on for a while. I would walk away and concentrate on other customers
There must have been a fight between Ehrman and Jagid last year after Avis bought ZIP and decided the IDSY technology was not there 10 year solution (in reality though, can ANY solution last 10 years?)
Ehrman resigned from BOD and got a different severance package just for him. Jagid kept spewing his lies. The BOD trusted him, and here we are. So in my mind the BOD is at fault for not realizing what ZIP meant. Get rid of Monaco and Burstein. Two old farts. They should have at least asked Avis to drop non-compete so that IDSY could at least attempt to salvage the technology. Avis was in fact not acting in the best interests of IDSY despite what Jagid said.
Jagid needs his pay and bonuses clawed back. I hope we read in some SEC doc that all his options were cancelled. No way he should walk away with 125K shares.
A CEO needs to come in and clean house. Ned needs to be fired and a new, lower cost guy put in his spot. $11M in revenue? I could do that ledger in my head. $550K pay for that? Come on!!! Way overpaid.
Liolios needs to be fired.
Ehrman is also overpaid. Throwing his hat in the rang? Give me a break. You're lucky you're not out on your #$%$ as well. You should have known when ZIP was bought by Avis that everything changed. Ehrman gave some misleading statements since that time as well.
The company should be sold, whole or pieces. If the BOD was doing it's job, "strategic alternatives" would have been discussed on the CC.
The company needs adult supervision. It is worth much more than the current market cap. The M2M market is screaming higher. FLTX has a Billion Dollar market cap and all they are is a GPS enabled cell phone, a real time map update, and Analytics.
the way I heard it, Jagid totally misled us. I have no idea why they extended the non-compete 2 months. It appears from Ken that Avis made a decision long ago that technology changed when they went to ZIP and they changed their mind. Avis should have released IDSY from the non-compete at that time if they were playing fair.
It almost seems as if they are back to the pilot stage again with Avis in some new region with some new functionality. What a waste of time. They are far, far away from anyone else as well. They would be better off suing Avis and the others and trying to get some patent infringement money than pursuing this. Jagid totally screwed shareholders on this. His pay should be clawed back.
That's the bad news. Good news is the core business grew nicely. 18% VMS growth and 8% AI growth (which is surprising). Hardware vendors and resellers are doing well. Analytics is doing well and opens doors for further VMS penetration. China appears like it could be an untapped market for the safety aspect alone.
They are coming out with new VMS and AI hardware. New patents have been filed. The total business is being looked at by a Quality Director who was just hired. A former customer who rolled out a large Enterprise is now on board and in charge of Business Intelligence and Analytics.
AvRamp even made a sale to a new airline (way to go Larry T.....finally). I think this hangs around $6