Ocz Technology Share Discussion Threads

[failedqs] 15/10/2013 09:36

Nice rumour, I like that one. It does sound credible, I hope any bid is at a decent premium to the current price!

[ch131] 15/10/2013 08:52

Here we go- the rumours are starting again...





RumorTT: Toshiba considering buying OCZ's Consumer division

Toshiba is rumored to be looking into acquiring OCZ's consumer SSD division (TYO:6502, NASDAQ:OCZ)

By: Charles Gantt | Storage News | Posted: 7 hours, 57 mins ago

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2013 has not been kind to the SSD manufacturer OCZ, and it appears that is just what some companies were holding out for. Sources have told TweakTown that electronics giant Toshiba is taking a serious look at buying the floundering companies consumer storage division.





rumortt_toshiba_considering_buying_ocz_s_consumer_division




This could land Toshiba some very valuable technology that it would not have to license which could be very lucrative for the company. As for OCZ, this could be its saving grace, as the company continue to spiral downward towards a hard rock bottom. As soon as I saw this rumor come in, I messaged our Senior Storage Editor, Chris Ramseyer for his thoughts. "If the report is accurate this is a win-win for everybody. Toshiba will gain a controller to go with its flash and OCZ will escape from the low margin consumer market it created," Ramseyer Said. "OCZ CEO Ralph Schmitt recently stated that OCZ had issues in 2013 securing flash in large volumes. Toshiba 19nm NAND flash has been proven superior to IMFT 20nm flash yet most of OCZ's recent products shipped with IMFT 20nm flash due to Toshiba 19nm shortages."



Honestly, I have to agree with him, and I have not seen anything exciting come out of OCZ on the consumer side of things in many months now, and I feel that Toshiba could take the IP from OCZ and create a new product that would greatly improve its Laptop, Tablet, and PC business. If the deal also comes with a NAND flash deal for OCZ it would work out well for the company.


Read more at hxxp://www.tweaktown.com/news/33440/rumortt-toshiba-considering-buying-ocz-s-consumer-division/index.html#5v716mp4ZVxUtM8Z.99

There might be some truth here, as the lawsuit 4%/6million if part of the co. is sold within 6 months clause suggested that a deal might be close.

[ch131] 08/10/2013 21:40

Thanks for explaining that, Lego. A buyout or some sort of strategic partnership looks like the only chance of survival, as they are in the last chance salon now cashwise. On the plus side, the products, ip and clients should be attractive to the right company. Now that they're almost current with filings perhaps there's a second chance with Seagate (the price will be much more attractive now) or maybe that rumour was just a pump and dump.

Not been looking at new investments recently. I think someone on here (it may even have been you) ages ago recommended AGL and after looking at it I bought into it. If you're not already in it take a look as although it's seen a rise, there's lots of potential. Many thanks to whoever mentioned it and if they've any more tips I'm all ears!

[legolass] 08/10/2013 19:09

That is the accumulated losses ie if you add up all the losses each year. The numbers, restatements and deception by Ryan are pretty breathtaking. Alot of misinformation on yahoo board but i think the company has to xmas max to find a buyer or they are bust. Rather foolishly probably i am holding the shares i have left in the hope of a bid. If the IP, clients and backlog are great they could get 2x the current share price but zero is also very possible at this point. If i sell what should i switch into in the tech sector?

[cervelo] 08/10/2013 12:11

SAN JOSE, CA -- (Marketwired) -- 10/08/13 -- OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, reports that its financial printer erroneously filed a draft of a 10Q for the period ended August 31, 2013 with the Securities and Exchange Commission. The filing was not authorized by OCZ and investors should not rely on the information in the Form 10Q for the period ending August 31, 2013. Much of the information in the document that was filed is not accurate and the document omits material information that is required to be included in a Form 10-Q. After the audit committee of the board of directors approves our second quarter of fiscal year 2014 Form 10-Q, we will file an amended 10-Q. Our Q1 quarterly results press announcement issued on October 7, 2013 discloses preliminary financial information related to our results for the second quarter of 2014.

What does this mean...how can "Much of the information in the document that was filed is not accurate" be true?. Surely the info comes from OCZ to the printer not the other way around!!!.

[legolass] 08/10/2013 09:15

Hi CH

Not sure where you get £300m debt from? I think they are debt free but burning cash very quickly ie had $5m cash end Q1 and raised $13m end August but they are probably burning $10-20m a quarter. At this point I think a buyout is the only upside for current equity holders ie it is not possible to finance the "turnaround" without massive dilution. If the IP, products, enterprise customers are real then makes complete sense to sell this to someone with a stronger balance sheet.

[ch131] 08/10/2013 08:44

Well the good news is that we are current with financials...

I knew past financials would be bad, but recent financials leave a lot to be desired too. A lot to digest here. But at first glance, over $300 million debt, Q2 revenues of 33 million due mostly to difficulty in securing nand because of the restatements- things are pretty bad. OCZ in dire need of funding/partnership/buyout. DB brought in at great expense to find alternative strategic options. Right now that seems their best way out. Waiting to hear what RS has to say.

[ch131] 03/10/2013 08:37

That's right, and no doubt it will be worth a lot more to a prospective buyer in a year's time. The current low valuation is a combination of lawsuits, fears of delisting due to overdue filings, imminent bankruptcy due to harsh loan agreement/cashburn. One of those has been sorted, so a correction of sorts is in order, and filing is imminent if RS is true to his word (I see no reason to doubt him) which may add to momentum and short covering.

IMO low expectations are well and truly priced in at these levels, and anything even remotely positive combined with drawing a line under the past should give the share price a nice push up. However, when it all comes out it will be vulnerable to a buyout- I'm sure there are many investors that would be happy to accept a low ball figure.

[legolass] 03/10/2013 06:07

I guess we find out in the next few days whether the CEO and CFO are the kings of a "master plan". My bet is they file and try and nake a go of it for now as an independent company. If you saw the violin memory valuation you can see why they dont want to fire sale the business.

[ch131] 02/10/2013 21:43

Good news!

OCZ Announces Settlement of Consolidated Shareholder Class Action Litigation

"SAN JOSE, CA -- (Marketwired) -- 10/02/13 -- OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) and power management solutions for computing devices and systems, today announced that it has reached a settlement in principle in the federal shareholder class action litigation filed in connection with the Company's financial restatement.

The settlement is subject to negotiation of final documentation and court approval. Subject to Court approval, the settlement of $7.5 million will be funded by the Company's D&O liability insurance. The settlement may include an additional payment of the lesser of $6M or 4% of the net proceeds in the event that the company or any portion of it is sold within six months of the executed settlement agreement. This settlement would resolve the consolidated shareholder class actions pending in connection with the restatement.

"We are pleased to have reached a settlement in principle in regards to the shareholder class action litigation, and we believe this is a positive step for the Company," said Ralph Schmitt, CEO of OCZ Technology. "The team is highly focused on completing the financial restatement process shortly and becoming current with our filings." "

[ch131] 13/9/2013 07:42

FFS what is going on?

It makes it look like he was scared to face the music. Surely when they announced the DB presentation they expected RS to attend, and not cancel at the last minute. Was it that the filings they expected to complete on time unexpectantly weren't ready, and the presentation involved discussing the audit, and previous history of the company and where they are now, so had to be postponed- if that was the case why not just say it? If the audit had just been going on for a week or two you might understand them running over a bit, but this has been going on for over a year now!

And if they really wanted to delist, then they could have done that months ago. Not go through all these Nasdaq extensions. Something just doesn't add up.

[legolass] 12/9/2013 22:29

How incompetent are these guys? 3 days ago they say they will present at a big conference....now they still cant close the audit. Unless this all finishes with a $5 buyout the whole board should be sued! Unbelievable.

[ch131] 12/9/2013 18:14

Nice pop due to RS cancelling the Deutsche bank conference. Chatter is that Bonnie Mott says "Due to a last minute conflict, Ralph was unable to attend the conference."

Now why would he cancel an important presentation? I think he must be in more important talks- buyout?

[ch131] 11/9/2013 09:21

Don't know about you guys, but I see this as great news. It doesn't sound like a company about to go bust does it? I think RS has secured either a partnership or some serious funding behind this. The steady stream of news this week suggests a build up to some long awaited good news, especially with the deadline nearing

hxxp://ir.ocz.com/news/detail/2774/ocz-technology-expands-research-development-center-in-orange-county-california

OCZ Technology Expands Research & Development Center in Orange County, California

Download PDF


Design Center Focuses on Enterprise Product Development in Complete Solid State Solutions

SAN JOSE, CA -- (Marketwired) -- 09/10/13 -- OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that it will expand its Research & Development (R&D) Center in Orange County, California which is focused on enterprise development for the company's next-generation SSDs. The company has a current presence in the area and is moving to a new expanded Irvine R&D location.

"Orange County, California has a rich base of engineering talent covering semiconductors and storage that makes it a viable location for us to expand our design center," said James Tout, SVP of Global Engineering for OCZ Technology. "With a leading and widely recognized portfolio of SATA, SAS and PCIe-based solid-state solutions, we believe that the opening of our new OC-based design center will attract the professional resources and talent we need to create leading-edge, next-generation enterprise products for the storage industry."

As the need for faster, more reliable and cost effective storage grows in the enterprise market, OCZ is committed to enabling customers with innovative flash hardware and software solutions that solve storage challenges by accelerating application performance, optimizing IT infrastructures, and enhancing overall manageability while delivering superior total cost of ownership. The company achieves this with a wide range of innovative SSDs, based on in-house technology, and combines them with our proprietary enterprise virtualization software to create complete solid state solutions that enable users to get faster and more reliable access to critical applications and data when they need it most.

OCZ is accepting employment applications for hardware designers and firmware developers with storage experience to work in the new OC-based R&D center. Interested candidates should submit a resumé online at www.ocz.com/enterprise/company/careers.

For more information on OCZ's leading enterprise portfolio of PCIe, SATA III and SAS SSDs, visit www.ocz.com/enterprise.

[ch131] 30/8/2013 12:44

I see a few stores are now selling OCZ refurbished SSD's with a one year warranty. Nice to see those returns being refurbished and put out for sale again. I just ordered a cheap vertex 2 100gb from novatech to revive my old laptop for £40!

[cervelo] 21/8/2013 13:21

Good to see a decent distribution agreement for OCZ today.

[cervelo] 14/8/2013 12:18

I think we need to get the accounts finalized asap...what the hell were they doing to make them so complicated? Didn't they say they would clarify by the end of the month?

[failedqs] 14/8/2013 08:35

So a rights issue is going to save the day eh?!This is really one of those cases where I'm telling myself "well if someone is forking out a load of cash then they must have confidence that this will recover, as they will have done due diligence....."But given previous experience with OCZ, I'm not sure that anything they say can be believed now.Shame really.... Superb product that wasn't properly handled by a dreadful management team. The new team are trying their best, but to be honest I think they will never make the grade.A sympathetic buyout is the best we can hope for......

[ch131] 06/8/2013 09:51

No problem, it shouldn't be too complicated.

To add to your bureaucratic woes, you also need to fill in a W-8BEN form (by post not email) for trading us stocks from the UK. I've just had to redo mine with TD direct, as they only last 3 years. Ask Barclays to send you one, then you should be set up.

[failedqs] 05/8/2013 23:11

Ch131 - thanks, I guess that's the best idea, so I've sent a message to the brokers in the USA.Hope it isn't too onerous a process!!