As per the AP article that came out this afternoon.
The company also filed a report covering its second quarter results, but Tuesday morning OCZ said that report had been filed in error by its financial partner and shouldn't be relied on because it omits required information.
I believe they will report either today after the close or Monday. I feel this way because I don't believe RS would make this statement if he didn't intend to report. "The team is highly focused on completing the financial restatement process shortly and becoming current with our filings." There was no requirement to make this statement in the PR about the settlement if he didn't intend to report by Monday. You would have to be a real #$%$ to make this statement and not report before the deadline. Time will tell.
Long, I would agree with you but there is one special circumstance for this company, which is that they need to file the restated earning for the past few years by end of day Monday. If they fail to do so, they will be delisted from the Nasdaq. This will not be the end of the company and it will not mean that OCZ will go bankrupt, but it won't be a good thing either. I really hope that RS can release the restated earnings this Friday after the close, I feel this would be the best time to do so. I don't care if the numbers are good or bad, I just want to see the company become current on financials. Keeping my fingers crossed.
I think expanding the audit had more to do with RT finding some inconsistencies with the numbers that were recalculated, but that's my opinion.
I share your concern Dom, but at this point I will have to hope that they wouldn't have gone through all of that trouble just to become delisted. I will hold on until we find out for sure, but if next Monday comes and goes with no news I think that will be the last straw for me. I want to believe that RS is trying his best to do the right thing for shareholders but we have been screwed before and there is nothing to say it can't happen again. I would still like to know what he was going to present at the DB conference that he skipped out on.
The latest short interest report is out and it shows 12,262,111 shares short with an average daily volume of 1,143,543 which is 10.7 days to cover. The average volume as of late has not been over 1mil so it is probably more like 15 to 20 days. Keeps working MM's, need to make more 100 share trades every minute to create artificial volume. It will be very interesting to see what happens if either earnings or a buyout does occur because the days to cover is not a legitimate number.
Trying to keep the days to cover for shorts reasonable. The last report for 8/30 was 23 days. If they weren't creating artificial volume it could easily be over 50 days to cover.
Wow, and to think you actually made an attempt to be a journalist. If you really were an unbiased journalist you would never post this B$. You obviously have an agenda and come here to spread your smut to gain viewers that will click on your articles. In the past you would at least post some valid arguments, now you sunk to a level so low that you reek of sewage. I am not one for name calling but with this post I believe you've earned it. I would like to nominate you as the biggest douche in the universe... I believe you are the front runner in this race and I have faith that you will prevail. I will never reply to you again.
What was RS going to say in his presentation that was cancelled yesterday? He should provide an update to investors as to the current state of the restatement process, as well as if there are any companies interested in working with them on a strategic alternatives. This doesn't have to be specific, just state that we have been in talks with a few interested parties and are working with them on a strategic alternatives. Is that too much to ask for?
You should publish another article so that you can buy another case of PBR. It seems that you finished the case from the last article being that you are posting heavily on the MB again.
Not sure where you got that information from but if you would have just took a minute to view there website you would have found the following enterprise hardware solutions.
SAS - Talos 2 C Series and R Series.
SATA - Deneva 2 C Series and R Series.
PCIe - Z-Drive R4 C Series and R Series, ZD-XL SQL Accelerator.
Somehow you bashers keep skipping the facts all together, and in some cases just making things up as you just did.