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OCZ Ocz Tech Regs

10.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ocz Tech Regs LSE:OCZ London Ordinary Share COM SHS USD0.001 (REG S)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 10.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Ocz Technology Share Discussion Threads

Showing 6301 to 6323 of 6500 messages
Chat Pages: 260  259  258  257  256  255  254  253  252  251  250  249  Older
DateSubjectAuthorDiscuss
04/2/2013
19:05
New Seeking Alpha article by Ashraf Eassa. Have to agree with the general sentiment.
swiftnick
04/2/2013
13:27
Exactly so. The second quarter ended on 31 August 2012 and after several months of investigation the directors are still only able to estimate the turnover figure within a $20 million range. OK, it's complicated by the rebates, but other companies offer rebates and are still able to produce acccounts...
swiftnick
04/2/2013
10:34
Just to clarify, this is not forward revenue guidance news- the revenue that RS is talking about is history already. The second fiscal quarter 2013 ended on August 31 2012, and the third on November 31 2012.
ch131
04/2/2013
09:42
Sorry to hear you sold out, Nick. I understand your reasons, and it must be good to move on. I think most of us have been involved much longer than we ever anticipated! You're right, dilution is very likely, but considering the company's financial situation, and Friday's reaction, it may not be such a bad thing after all. At least the company will remain solvent, and be a stronger candidate for a buyout, although at a lower price per share than previously hoped.
ch131
02/2/2013
18:30
Orient

Are u still holding this garbage?

You must be and also many others who were dreaming this garbage to go to
$15 and $30

You tried to make fun of me and now it is going to hurt you hell of a lot

Hope you get wiped out

aladd1n
02/2/2013
13:58
Finally sold out yesterday after holding continuously since the AIM days.

I was also surprised by the muted market reaction to Thursday night's update. The company is almost out of cash and revenue remains below break-even levels, and likely to remain so for at least another three quarters. Dilution therefore now looks very likely, so why continue to hold?

I want to believe that the new management has turned the corner, but RS has said little to impress me so far and the vagueness of their revenue estimates ("The Company estimates that its quarterly revenue will range between $65 million to $85 million in each quarter for the second and third fiscal quarters of 2013.") suggests that even after all this time they haven't really got a handle on things.

OCZ has developed good products and I still think that they will probably get bought out by somebody in the end, but it is difficult to see how a buyer can emerge until we have audited figures and greater clarity.

swiftnick
01/2/2013
22:04
Well, price held up well today- that's encouraging, as we've now been given a bit more clarity about the last quarters, and just have the actual filing to wait for. The bad news seems to have been accepted by the markets, and we've formed decent support above $2. I know there's a long way to go, and a lot still to be achieved before we're out of danger, but the market reaction was better than I expected.
ch131
01/2/2013
13:17
it seems that their only real hope of survival:
mark knopfler
01/2/2013
08:35
Yes, Lego, two horrible quarters- the shorts will still have the advantage until a financing deal is announced. Strange timing of that RNS- perhaps another RNS today. I was not expecting any financing to be announced until the overdue quarter was rereleased and all the skeletons were out of the closet, but maybe they are near making a deal?
ch131
01/2/2013
07:40
Company released outline guidance for previous quarters. Revenues and balance sheet worse than I thought. Strangely this was released at 11.45pm EST. Question today is was this released ahead of some sort of re-financing news later today. Without that the shares could sink back down. The positive at least is that the company seems to have aligned the revenue and cost structures, they have a valuable controller and rumour is that they will launch an enterprise version of the Vector shortly. What I would like to see is another industry player involved in the refinancing as part of some sort of partnership.....not an institutional round at $1 a share! Having sold shares at $4 and $1.50 (for CGT reasons)I topped up again recently
legolass
29/1/2013
16:07
And this is the ying to that yang:
mark knopfler
28/1/2013
12:14
Worth a read:
mark knopfler
26/1/2013
17:13
Orient

You cannot hear the truth as this company was based on lies
and deceit.

I sincerely hope you suffer and lose everything

Remember you were laughing at me when I sold my first batch
of 500 shares at $5.

Look who is laughing now

aladd1n
26/1/2013
14:08
Yes bought a few on IG on the back of the sales appoitment. I think they are happy to drag out restating the numbers so that they can announce new financing at the same time. Big restated losses without new cash would crash the stock. New financing would show somebody had confidence. You have to think the new sales guy knows more than the market to take the job.
legolass
26/1/2013
13:15
Decent % rise in OCZ yesterday...maybe they are close to working out numbers...by the way, why is it taking so long?...maybe the huge amounts of sales they have made...B-)...
cervelo
23/1/2013
13:10
Doesn't sound like a company facing bankruptcy.
ch131
23/1/2013
13:08
OCZ Technology Announces Wayne B. Eisenberg as Senior Vice President of Global Sales




Senior Sales Executive Brings Solid-State Storage and Enterprise/OEM Sales Expertise to OCZ

SAN JOSE, CA -- (MARKETWIRE) -- 01/23/13 -- OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced the appointment of Wayne B. Eisenberg as Senior Vice President of Global Sales. Eisenberg joins OCZ with over 20 years in sales management and a proven track record for growing corporate revenue and successfully transforming global businesses.He spent 16 years at SMART Modular Technologies, a developer of memory and solid-state storage subsystems, where he held various sales management positions including 9 years as Vice President of Worldwide Sales and Marketing Communications.

"We are very excited that Wayne has joined our team as Senior Vice President of Global Sales and believe that his drive, integrity and knowledge of solid-state storage will provide immediate benefits to our Company," said Ralph Schmitt, CEO of OCZ Technology. "As our Company continues to evolve, having this level of executive talent and proven track record for success will help us achieve the sales goals that we seek during this next phase of OCZ's growth."

Prior to joining OCZ, Eisenberg served as Vice President of Sales for Leyden Energy Inc, a developer of Lithium-ion-based energy storage solutions. Prior to his employment with SMART Modular, Eisenberg was an Area Sales Manager in the Computer Systems Division at Toshiba America selling portable computing products for the enterprise where he doubled business growth in this area. He also served as a District Manager for GRID Systems selling industrial portable computing solutions.

"Joining OCZ is a great opportunity for me as the Company is highly regarded for its extensive SSD portfolio for consumer and enterprise markets, as well as its industry-leading performance, and technological innovations," said Wayne B. Eisenberg. "I'm very excited to be part of this evolving Company and feel that we can propel the global sales operation to new heights, expand our enterprise and OEM footprint, and increase our overall market penetration throughout the world."

Eisenberg holds a Bachelors of Arts degree in Journalism from California State University at Chico with a minor in Business Administration.

ch131
23/1/2013
13:07
News coming in thick and fast:






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OCZ Technology Issues Update on Various Matters




SAN JOSE, CA -- (MARKETWIRE) -- 01/22/13 -- OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that that the Audit Committee's investigation has been completed. As noted in the Company's December 17th press release, the Company is working with Crowe Horwath LLP, the independent auditors, regarding the restatements of the results for the first quarter of fiscal 2013, as well as the results for fiscal 2012. The restatements primarily relate to the timing and classification of customer incentive costs between revenue and operating expenses, the timing of revenue recognition for certain transactions, and the level of reserves for product returns. The restatement of prior periods will be provided as soon as practical.

In addition, because of the delayed filing with the SEC of the Form 10-Q for the period ending November 30, 2012 (the "Form 10-Q"), the Company, as anticipated, received a letter from The Nasdaq OMX Group ("Nasdaq") indicating that the Company is not in compliance with the filing requirements for continued listing under Nasdaq Listing Rule 5250(c). As previously announced, the Listing Qualifications Staff at Nasdaq, based on the Company's compliance plan, granted the Company an exception until February 28, 2013 to file its Form 10-Q for the period ended August 31, 2012.

This recent Nasdaq letter notes that the Company is required, by February 1, 2013, to submit an update to this original plan to regain compliance. Nasdaq is permitted to grant an extension of up to 180 days from the initial delinquent filing, or until April 8, 2013, for the Company to regain compliance.

As previously stated, the Company continues to work diligently to complete the financial audit and quarterly reviews along with any necessary restatements. While this will hopefully be completed in the near future, the exact date cannot currently be estimated.

On January 15, 2013 the Company amended its credit facility agreement with Wells Fargo Capital Finance to, among other things, reduce the maximum loan amount to $20 million from the prior $35 million. At December 31, 2012 the outstanding loan balance was approximately $7 million compared to approximately $15 million at November 30, 2012 and $20 million at August 31, 2012. This amendment specifies certain reporting requirements and liquidity minimums, but also provides the Company with an operating structure to support its business needs while the Company is in technical default of certain covenants. A summary of the material terms of the amendment will be filed today in a Form 8-K.

"The independent investigation has been completed and the findings were highly consistent with the Company's internally identified issues. The Company has already eliminated certain customer incentive programs and made people and process changes to improve overall business operations and continue moving the Company in a positive direction," stated Ralph Schmitt, CEO of OCZ Technology. "We continue to focus on making operational improvements and have significantly reduced our channel inventory to less than $50 million. This puts our sales channel in excellent position to properly support our customers while also efficiently managing our total inventory. The Company has successfully settled the two previously disclosed product and patent litigation contingencies, removing the potential for significant, unforeseen liabilities to the Company."

"The team continues to deliver on its product development efforts, and at this year's CES in Las Vegas, we unveiled and demonstrated the upcoming PCIe based Vector SSD as well as showcased a wide range of client and enterprise solid-state storage solutions," added Schmitt. "We are also pleased with the customer and industry reactions we are receiving for our latest SATA III-based Vector SSD Series, featuring the Company's next-generation Indilinx Barefoot 3 controller, and look forward to continue to provide our customers with innovative industry leading storage solutions."

ch131
17/1/2013
18:01
Still around guys, watching and waiting. I know I'm stating the obvious, but it does feel much more of a gamble now than just a few months ago, and will stay that way until we get some clarity.
ch131
17/1/2013
00:04
I'm just interested as my new (well,5 months ago)build has a OCZ Vertex 4 256GB 2.5" SSD in it which is awesome! Not invested as yet but looking.
totally banjo
16/1/2013
21:25
Think there's only the two of us interested in this now Lego. Hopefully it goes to 6 and not zero
197300
16/1/2013
20:39
OCZ at CES 2013
totally banjo
16/1/2013
15:58
Lack of financials/cancelling the Needham conference/Dell going private (i.e they wont buy OCZ)not great but this is interesting on pricing...
legolass
Chat Pages: 260  259  258  257  256  255  254  253  252  251  250  249  Older

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