I don't think Darren has a clue, that's why I took my losses and stepped away. I have doubts if this company can make it through March 2014.
Anyway you want to slice it, MCZ lost a TON of market share. They will be non-existent in the headset business fairly soon, and that's after having a HUGE advantage with the warhead. Now Turtle Beach has the Microsoft contract.
This management is a joke.
So the headset market shrank by 11% in 2013, but Madcatz lost more than 30% in headset sales? TB is going to push MadCatz out of the market by the end of 2014. DR should sell the headset business while it has some value, Maybe they can get $30M for it.
What a sad joke.
So with all the investment in the Warhead and Tritton, all MadCatz has is 5.3% of the market? That's a joke. It's a complete failure. Headset sales in 2012 were only $20M?
And on top of everything, this company has no XBOX 1 accessories while Turtle Beach has already announced several headsets. Frustrating.
Hardly bashing. Long @ 0.75 and bleeding badly. Very disappointed to learn MOJO is a non-factor for the foreseeable future. Very disappointed with the complete failure in the headset space. Very worried about the cash position and how can they survive another quarter with no revenues.
Not seeing a clear strategy for the future here.
I doubt we hold at these levels. More likely to break under 40 cents today. Simply too rough. This company needs to be sold to a bigger player. Can't go it alone for long.
Not sure how the prospects aren't dire? They have no products for the new consoles. Absolutely nothing. They were playing around with MOJO and mobile, that will apparently produce nothing, and they completely missed out on the new consoles. What now? When will they get headsets out for X1? Turtle Beach already has them.
That would be a complete disaster. Why do you think he was referring to Q2/2014? The new consoles are rolling out in a week or so. Shouldn't that drive some accessory sales?
1. Further marketshare loss in headsets. Turtle Beach now in full control.
2. MOJO a non factor.
3. Quarter worse than expected and very little hope for the future.
That's the part I'm not sure about either. Darren was saying this quarter (Q3/2014) is slightly better than the prior one (Q3/2013 or Q2/2014?) so far. PC keyboards and mice are up 25% in October, so on that pace we can get $11M for PC stuff. How are we going to get the rest of the $35M needed?
I think the vast majority who bought during the past 3 months on the MOJO hope are throwing in the towel. Looks like MOJO is going nowhere despite the hype. That's really too bad.
I know this is a big day for you, but the creditline really isn't a big deal. The big deal is the loss of marketshare in headsets and basically having no new revenue streams to generate hope. GameSmart/Mojo will ramp up only in 2015 IF EVER, and there are no products for the new consoles. There is very little to hope for going forward. My only real hope is that they can manage a decent December quarter and generate enough cash to keep them afloat for a while.