These geniuses are just getting started. LOL!!!
Exactly! And after 11 years of award winning products and "successful" pilot programs, this is all they have to show for it. The history of hype is staring people right in the face, and after 11 years the numbers don't lie. All you need is an objective mindset and a skeptical eye to see what's going on here.
From the 10-k filed tonight:
The following is a summary of our material weaknesses as of December 31, 2014:
Financial Reporting and Close Process
Our current financial close process does not ensure accurate financial reporting on a timely basis. We also did not maintain effective controls over the period-end financial close and reporting processes in relation to the consolidation of our subsidiary’s financial information. The specific deficiencies contributing to this material weakness related (a) to inadequate policies and procedures, (b) ineffective procedures and controls over journal entries, accruals and reserves, (c) inadequate controls and procedures related to the timely preparation and review of account reconciliations, (d) inadequate segregation of duties, (e) inadequate controls over cut-off procedures, (f) deficiencies in end-user computing controls of critical spreadsheets, and (g) an insufficient complement of personnel with appropriate levels of knowledge and experience. Due to the actual and potential errors on financial statement balances and disclosures, management has concluded that these deficiencies in internal controls over the period-end financial close and reporting processes constituted a material weakness in internal control over financial reporting.
All hype. Pffff.
Check it out. All hype and no numbers for 2015. Here's a summary of the press release: "We won this award and we won that award; and we showcased this product and we showcased that product, blah blah blah...". That's all they have. Shiny medals on the wall. Dog and pony shows. And no profits. No real guidance.
"Company won four 2015 CES Innovation Awards with V-720 Mobile Gaming Platform (AKA - IWear 720) named as a 2015 CES Innovation Awards Honoree.
Showcased M100 Smart Glasses at a series of AT&T Developer Programs in the US and at NTT DOCOMO events in Japan to create visibility for products.
SAP showcased enterprise applications supporting Vuzix' M100 Smart Glasses to improve work processes through a hands-free workplace experience.
Joined Salesforce Wear initiative, creating the first ecosystem dedicated to accelerating the adoption of wearables in the enterprise."
Without Intel, this is a 50-cent stock. With Intel, it's worth no more than $5 until the company reverses the trend of bleeding cash. All the fluff and hype is wearing thin. Cancel the Vegas party. Reality is sinking in.
Yeah, good idea. Ban the only people who have been right all along ever since the Intel euphoria ran its course.
The Sony pilot promotion is currently ongoing. It is still relevant.
It's okay Frankie. It's no shame to admit your fear of the coming robot revolution in warehouse picking. You and Paul can hold hands and pray together. Meantime you've got the fluff pilot program promotions to distract investors.
Notice the article mentions the possibility that these smartglass trials are all just promotional hype. Just as I've suspected all along.
Virgin Atlantic has announced its latest savvy PR tie-up with new technology. Last year, it ran a six-week trial using Google Glass for Upper Class check-ins and recently announced it’s expanding that effort. It also tried out Apple’s iBeacon tech. Now it’s turned to Sony smart devices.
From next week, engineers working on Virgin Atlantic aircraft at Heathrow will be conducting an eight-week trial of Sony’s SmartEyeglass Developer Edition and SmartWatch 3, along with tablets and smartphones from the company.
The company says using the smartglasses should remove paper from some engineering processes and reduce the number of journeys engineers need to make between aircraft and technical control.
During the trial, Virgin staff will receive notifications about job allocations and changes to tasks on the SmartWatch 3. They’ll also use the SmartEyeGlass to take photos and video, which will be fed to an app on their smartphones.
Live video from the smartglasses will also be streamed to office-based engineering staff so they can offer speedier technical assistance.
It all sounds like a pretty sensible way to implement new smart devices in the work place. Other companies like Vuzik have been putting smartglasses in the hands of engineers for some time.
The big question is whether Virgin will stick with the technology when the trial is up or if this is just another clever bit of promotion.
OMG! That is too funny. I knew it had to be hype, because I haven't heard a single bit of concrete news since I started following this company. It's all about pilot programs and awards they won at some computer convention. The market needs more than that to sustain these stock price levels for very long.
The M100 will be obsolete in warehouses before it even gets a foothold. These Amazon robots are leapfrogging smartglass in the warehouse. Add Robotic Pickers to the list of Paul Travers' nightmares turned reality.
Robots will use the latest computer-vision and machine-learning algorithms to try to perform the work done by humans in vast fulfillment centers. Amazon is organizing the event to spur the development of more nimble-fingered product-packing machines. (Say goodbye to human pickers)
Participating robots will earn points by locating products sitting somewhere on a stack of shelves, retrieving them safely, and then packing them into cardboard shipping boxes. Robots that accidentally crush a cookie or drop a toy will have points deducted. The people whose robots earn the most points will win $25,000.
Amazon has already automated some of the work done in its vast fulfillment centers. Robots in a few locations send shelves laden with products over to human workers who then grab and package them. These mobile robots, made by Kiva Systems, a company that Amazon bought in 2012 for $678 million, reduce the distance human workers have to walk in order to find products. However, no robot can yet pick and pack products with the speed and reliability of a human. Industrial robots that are already widespread in several industries are limited to extremely precise, repetitive work in highly controlled environments.
Pete Wurman, chief technology officer of Kiva Systems, says that about 30 teams from academic departments around the world will take part in the challenge, which will be held at the International Conference on Robotics and Automation in Seattle (ICRA 2015). In each round, robots will be told to pick and pack one of 25 different items from a stack of shelves resembling those found in Amazon’s warehouses. Some teams are developing their own robots, while others are adapting commercially available systems with their own grippers and software.
All about shipping? Or all about hype? That article was much ado about nothing. Here it is in a nutshell: Vuzix is great company becuase they won some awards at electronic shows, and they have some data from pilot programs. Sounds like the company fed them the words. What a joke.
"...I guess no one ever told him it's only a prediction if ya call it before it happens."
Huh? I've been warning for weeks that the chart was in danger of entering a new downtrend. How much advance notice do you want? I called the bearish engulfing candle in REAL time on March 17 (see time stamp of original post in this thread). Even then, there was still plenty of time to get ahead of this selloff.
Puppies, that was awesome video. Let's just hope Paul doesn't get suplexed through the conference room table during the Q&A session. That would be another red flag. Lol.
That 5-day bearish engulfing candle on 3/17 was the tell. What a an awful stick. Pay attention next time Cane.