An opinion and critique ...non emotional
posted on
Jun 19, 2009 08:42AM
I don't wish to beat up on the edig communications, but who had the responsibility to proof read the company fiscal announcement before releasing the information.
I remind you of the wording:
(SAN DIEGO, CA, – June 16, 2009) – e.Digital Corporation (OTC: EDIG), a leading technology innovator of dedicated portable entertainment systems and patented flash memory-related technology, today announced record revenues of $11.1 million for its fiscal year ended March 31, 2009, an increase of 50% over fiscal year 2008 revenues
Perhaps the market looked at the data and wondered about a lack of controls within the comnpany.
Also I saw no mention of the enhanced version of the current IFE product, what about new product development?
I think we were short changed, as well as the market, about progress in engineering development.
They added that some employees had been re-assigned to providing more support and service, diluting our engineering and technical staff. With the drastic drop in IFE sales, what added service and support is needed.
If anything, we need more to concentrate our manpower on greater sales activity into new market segments. A casual comment about continuing to pursue these markets was mentioned, but not backed up with any added sales effort.
Overall, the fiscal year announcement lacked any innovative prospects for revenue other than through the efforts by DM in patent litigation.
I believe the market would have evaluated along the lines I elaborated, and as a result we see the share price being eroded and the best fiscal year ever along with substantial profits as being a non event.
It's too bad we don't know how to communicate progress and successes to the investor market.