9:20am 06/30/03 [XYBR] XYBERNAUT WINS PATENT FOR DEVICE-PROTECTION SYSTEM
Ich fassett net...
Ich fassett net...
MfG, ZiZo
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Doc Udo, die lebt noch !!
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Die werden nach jeder Meldung ein paar Cent hochgezockt, um dann innerhalb weniger Wochen wieder peu-a-peu auf den alten Level zurückzufallen. War jedenfalls bisher so.
Das Management ist einfach völlig unseriös.
Das Management ist einfach völlig unseriös.
Requiem for Xybernaut
By Rich Smith
April 4, 2005
Thursday was, to put it mildly, a bad day for investors in wearable computer-maker Xybernaut (Nasdaq: XYBR). Shareholders had anticipated seeing the company's already delayed earnings report published that day; instead, they saw a press release describing corporate Armageddon. (Read it here.)
To summarize the highlights, Xybernaut announced that:
* Two months ago, it received an SEC subpoena for documents.
* One month ago, Xybernaut's Audit Committee began investigating its accounting controls, allegedly improper acts by management, and the "propriety of certain major transactions."
In response to that news, and the footnote observation that revenues declined both year-on-year and sequentially since last quarter, the company's stock price jumped off a proverbial cliff, plunging 43% in a single day.
Today, I want to review just a few of the clues foretelling that disaster. Why? Because a lot of individual investors got burned by Xybernaut last week, and they may be tempted to just sell out now and forget Xybernaut ever existed. That would be a mistake. Individual investors paid dearly for investing in this company. They should consider that payment tuition paid for a course in Investing 101. Note, I'm not talking about the day traders and stock pumpers here -- they knew they were playing with fire and they'll do it again. This column is dedicated to the real investors, the true believers who were, in my opinion, so badly abused by their company.
The Motley Fool is all about the individual investor. We're investors ourselves. Not "hedge fund honchos." Not Wall Street bankers. And our mission is to help other investors make sense of the stock market and read between the lines of the corporate PR departments. To wit:
Press releases: Xybernaut put out a lot of them -- 14 in the last Q4 2004, and 19 so far this year. The rate of snow-jobbing was high -- and increasing, suggesting the level of desperation at the company was rising, as well. Contrast that with the two or three press releases put out by Motley Fool Hidden Gems picks Middleby (Nasdaq: MIDD) and Saucony (Nasdaq: SCNYB) over the past three months. Each of those picks has "quietly" gained more than 150% in two years. Moral:
Truly great investments let their numbers speak for themselves, and leave the spin doctoring to companies that are truly sick.
Profitless sales: Say I buy a car for $1000 and sell it to you for $900 today. I've got $1000 in sales and a $100 net loss. Tomorrow, I buy two cars for $2000, and sell them to you for $1800. I've doubled my revenues, but I've doubled my losses, too. Moral: Growing revenues are irrelevant unless they yield growing profits.
Stock dilution: Xybernaut increased its share count by more than 50% per annum over the past five years, starting with just over 21 million shares, and recently passing 170 million. It's therefore no surprise that Xybernaut's stock price has gone down, because each share of Xybernaut for sale today gives you just 12% the ownership interest that a share represented in 1999. The stock sells for less… because the stock's worth less. The moral here is simple: Even if dilution keeps a company alive, for investors, the company might well be better off dead.
In the end, Xybernaut's greatest value may be as a case study for the kind of company investors should avoid. It offers many more lessons than the few I have space for today. But if there's sufficient reader interest, I'll be glad to pen a followup exploring a few of the company's other "issues."
Until then, Fool on!
Truth is stranger than fiction, because fiction has to make sense
By Rich Smith
April 4, 2005
Thursday was, to put it mildly, a bad day for investors in wearable computer-maker Xybernaut (Nasdaq: XYBR). Shareholders had anticipated seeing the company's already delayed earnings report published that day; instead, they saw a press release describing corporate Armageddon. (Read it here.)
To summarize the highlights, Xybernaut announced that:
* Two months ago, it received an SEC subpoena for documents.
* One month ago, Xybernaut's Audit Committee began investigating its accounting controls, allegedly improper acts by management, and the "propriety of certain major transactions."
In response to that news, and the footnote observation that revenues declined both year-on-year and sequentially since last quarter, the company's stock price jumped off a proverbial cliff, plunging 43% in a single day.
Today, I want to review just a few of the clues foretelling that disaster. Why? Because a lot of individual investors got burned by Xybernaut last week, and they may be tempted to just sell out now and forget Xybernaut ever existed. That would be a mistake. Individual investors paid dearly for investing in this company. They should consider that payment tuition paid for a course in Investing 101. Note, I'm not talking about the day traders and stock pumpers here -- they knew they were playing with fire and they'll do it again. This column is dedicated to the real investors, the true believers who were, in my opinion, so badly abused by their company.
The Motley Fool is all about the individual investor. We're investors ourselves. Not "hedge fund honchos." Not Wall Street bankers. And our mission is to help other investors make sense of the stock market and read between the lines of the corporate PR departments. To wit:
Press releases: Xybernaut put out a lot of them -- 14 in the last Q4 2004, and 19 so far this year. The rate of snow-jobbing was high -- and increasing, suggesting the level of desperation at the company was rising, as well. Contrast that with the two or three press releases put out by Motley Fool Hidden Gems picks Middleby (Nasdaq: MIDD) and Saucony (Nasdaq: SCNYB) over the past three months. Each of those picks has "quietly" gained more than 150% in two years. Moral:
Truly great investments let their numbers speak for themselves, and leave the spin doctoring to companies that are truly sick.
Profitless sales: Say I buy a car for $1000 and sell it to you for $900 today. I've got $1000 in sales and a $100 net loss. Tomorrow, I buy two cars for $2000, and sell them to you for $1800. I've doubled my revenues, but I've doubled my losses, too. Moral: Growing revenues are irrelevant unless they yield growing profits.
Stock dilution: Xybernaut increased its share count by more than 50% per annum over the past five years, starting with just over 21 million shares, and recently passing 170 million. It's therefore no surprise that Xybernaut's stock price has gone down, because each share of Xybernaut for sale today gives you just 12% the ownership interest that a share represented in 1999. The stock sells for less… because the stock's worth less. The moral here is simple: Even if dilution keeps a company alive, for investors, the company might well be better off dead.
In the end, Xybernaut's greatest value may be as a case study for the kind of company investors should avoid. It offers many more lessons than the few I have space for today. But if there's sufficient reader interest, I'll be glad to pen a followup exploring a few of the company's other "issues."
Until then, Fool on!
Truth is stranger than fiction, because fiction has to make sense
Gemäss vorigem Beitrag müsste es dann doch z.B.
bei Macropore super cremig laufen, denn da wartet
und wartet man mal wieder auf News ;-)
Xybernaut Announces That Investors and Others Should Refrain from Relying upon the Company's Historical Financial Statements and Related Audit Reports
Friday April 8, 6:58 pm ET
Announces the Company's Receipt of Nasdaq Notification
FAIRFAX, Va.--(BUSINESS WIRE)--April 8, 2005--Xybernaut® Corporation (NASDAQ:XYBRE - News) announced today that investors and others should refrain from relying upon the Company's historical financial statements, together with the related audit reports the Company received from its outside auditors, Grant Thornton LLP, for the years ended December 31, 2002 and 2003, and interim quarterly reports for the quarters ended March 31, 2003, June 30, 2003, September 30, 2003, March 31, 2004, June 30, 2004 and September 30, 2004.
ADVERTISEMENT
The Company's action was taken in response to a letter which the Company received from Grant Thornton LLP, on April 6, 2005, indicating that the nature of the items disclosed by the Company in its Form 8-K filed on April 1, 2005, and the uncertainties surrounding the results of the ongoing Audit Committee investigation disclosed in such Form 8-K, have caused the firm to question the accuracy and reliability of the Company's accounting and related disclosures provided in the specified prior period financial statements. The Audit Committee has reviewed the Company's disclosure in this press release and in the Company's related Form 8-K with Grant Thornton LLP.
Upon completion of the Audit Committee's investigation, the Company intends promptly to implement any recommendations resulting from the Audit Committee's investigation and to take any other actions necessary to satisfy the concerns raised by Grant Thornton LLP. The Company has retained Kalorama Partners, LLC, a consulting firm founded by former SEC Chairman Harvey Pitt, to assist the Company in fulfilling these commitments.
The Company also announced today that on April 5, 2005, it received notice from The Nasdaq Stock Market of Nasdaq's intent to delist the Company's securities at the opening of business on April 14, 2005, subject to the Company's right to request a hearing with the Nasdaq Listing Qualifications Panel in accordance with the Marketplace Rule 4800 Series. In the notice, Nasdaq asserted that the Company is in violation of Nasdaq Marketplace Rule 4310(c)(14) because, as the Company previously announced, it has not yet filed its Annual Report on Form 10-K with Nasdaq and the SEC. Prior to April 12, 2005, the Company intends to request a hearing before a Nasdaq Listing Qualifications Panel to review the staff's determination which will suspend the delisting of the Company's securities until the hearing determination. There can be no assurance that, following the hearing, the Panel will grant the Company's request for continued listing.
In addition, as provided in the notice, at the opening of business on April 7, 2005, an "E" was appended to the end of the Company's trading symbol for its securities, so that the symbol became "XYBRE."
Never argue with an idiot -- they drag you down to their level, then beat you with experience.
Friday April 8, 6:58 pm ET
Announces the Company's Receipt of Nasdaq Notification
FAIRFAX, Va.--(BUSINESS WIRE)--April 8, 2005--Xybernaut® Corporation (NASDAQ:XYBRE - News) announced today that investors and others should refrain from relying upon the Company's historical financial statements, together with the related audit reports the Company received from its outside auditors, Grant Thornton LLP, for the years ended December 31, 2002 and 2003, and interim quarterly reports for the quarters ended March 31, 2003, June 30, 2003, September 30, 2003, March 31, 2004, June 30, 2004 and September 30, 2004.
ADVERTISEMENT
The Company's action was taken in response to a letter which the Company received from Grant Thornton LLP, on April 6, 2005, indicating that the nature of the items disclosed by the Company in its Form 8-K filed on April 1, 2005, and the uncertainties surrounding the results of the ongoing Audit Committee investigation disclosed in such Form 8-K, have caused the firm to question the accuracy and reliability of the Company's accounting and related disclosures provided in the specified prior period financial statements. The Audit Committee has reviewed the Company's disclosure in this press release and in the Company's related Form 8-K with Grant Thornton LLP.
Upon completion of the Audit Committee's investigation, the Company intends promptly to implement any recommendations resulting from the Audit Committee's investigation and to take any other actions necessary to satisfy the concerns raised by Grant Thornton LLP. The Company has retained Kalorama Partners, LLC, a consulting firm founded by former SEC Chairman Harvey Pitt, to assist the Company in fulfilling these commitments.
The Company also announced today that on April 5, 2005, it received notice from The Nasdaq Stock Market of Nasdaq's intent to delist the Company's securities at the opening of business on April 14, 2005, subject to the Company's right to request a hearing with the Nasdaq Listing Qualifications Panel in accordance with the Marketplace Rule 4800 Series. In the notice, Nasdaq asserted that the Company is in violation of Nasdaq Marketplace Rule 4310(c)(14) because, as the Company previously announced, it has not yet filed its Annual Report on Form 10-K with Nasdaq and the SEC. Prior to April 12, 2005, the Company intends to request a hearing before a Nasdaq Listing Qualifications Panel to review the staff's determination which will suspend the delisting of the Company's securities until the hearing determination. There can be no assurance that, following the hearing, the Panel will grant the Company's request for continued listing.
In addition, as provided in the notice, at the opening of business on April 7, 2005, an "E" was appended to the end of the Company's trading symbol for its securities, so that the symbol became "XYBRE."
Never argue with an idiot -- they drag you down to their level, then beat you with experience.
Xybernaut: Close to insolvency
Und leider Jahre zu spät den CEO entlassen.
U.S. Attorney investigating wearable computer maker
By Jennifer Inez Ward, MarketWatch
Last Update: 11:25 PM ET April 25, 2005
§E-mail it | Print | Alert | Reprint |
SAN FRANCISCO (MarketWatch) -- Xybernaut Corp. late Monday said that it is facing possible insolvency and is in a severe liquidity crisis. The company also disclosed that the U.S. Attorney's Office has opened an investigation.
Xybernaut: Close to insolvency
Xybernaut CEO and President removed from office
Highlights of rising and falling U.S. stocks
More news for XYBRE
The wearable computer-maker also said that it has split up chairmanship duties, which will be lead by three directors.
Last week, Xybernaut said its board has authorized the retention of financial experts to assist in "maximizing shareholder value," a catchphrase that can mean a company is considering putting itself up for sale.
Xybernaut (XYBRE: news, chart, profile) said in a statement that it could not make assurances that it will have sufficient cash to meet its financial obligations or fund continuing operations.
The Fairfax, Va.-based company said that on Friday it was contacted by the U.S. Attorney's Office for the Eastern District of Virginia.
Xybernaut did not give additional details about the investigation, and calls to the U.S. Attorney's Office were not returned Monday night.
Xybernaut said it will cooperate fully with the investigation.
Last week, Xybernaut fired Chief Executive and Chairman Edward Newman, and his brother, President and Chief Operating Officer Steven Newman, after reporting an audit committee investigation found numerous irregularities. See full story.
Xybernaut said the investigation concluded that Edward Newman used substantial company funds for personal expenses, hired family members without disclosing it to the Securities and Exchange Commission and in violation of the company's anti-nepotism policy.
The company also said it found failure to adhere to rules governing public disclosures.
The company's independent auditors also resigned.
On Monday, Xybernaut said the audit committee, through its lawyer, has contacted the SEC about its findings.
Earlier this month, Xybernaut said its financial statements for fiscal 2002, 2003, along with the first three quarters of fiscal 2003 and 2004 should not be relied on.
The company said its new Office of Chairman of the Board has been authorized to retain a restructuring and management consultant. The co-chairmen are former interim Chairman William Tuttle and directors Harry Soyster and Marc Ginsberg.
On Monday Xybernaut shares were unchanged at 26 cents.
Never argue with an idiot -- they drag you down to their level, then beat you with experience.
Und leider Jahre zu spät den CEO entlassen.
U.S. Attorney investigating wearable computer maker
By Jennifer Inez Ward, MarketWatch
Last Update: 11:25 PM ET April 25, 2005
§E-mail it | Print | Alert | Reprint |
SAN FRANCISCO (MarketWatch) -- Xybernaut Corp. late Monday said that it is facing possible insolvency and is in a severe liquidity crisis. The company also disclosed that the U.S. Attorney's Office has opened an investigation.
Xybernaut: Close to insolvency
Xybernaut CEO and President removed from office
Highlights of rising and falling U.S. stocks
More news for XYBRE
The wearable computer-maker also said that it has split up chairmanship duties, which will be lead by three directors.
Last week, Xybernaut said its board has authorized the retention of financial experts to assist in "maximizing shareholder value," a catchphrase that can mean a company is considering putting itself up for sale.
Xybernaut (XYBRE: news, chart, profile) said in a statement that it could not make assurances that it will have sufficient cash to meet its financial obligations or fund continuing operations.
The Fairfax, Va.-based company said that on Friday it was contacted by the U.S. Attorney's Office for the Eastern District of Virginia.
Xybernaut did not give additional details about the investigation, and calls to the U.S. Attorney's Office were not returned Monday night.
Xybernaut said it will cooperate fully with the investigation.
Last week, Xybernaut fired Chief Executive and Chairman Edward Newman, and his brother, President and Chief Operating Officer Steven Newman, after reporting an audit committee investigation found numerous irregularities. See full story.
Xybernaut said the investigation concluded that Edward Newman used substantial company funds for personal expenses, hired family members without disclosing it to the Securities and Exchange Commission and in violation of the company's anti-nepotism policy.
The company also said it found failure to adhere to rules governing public disclosures.
The company's independent auditors also resigned.
On Monday, Xybernaut said the audit committee, through its lawyer, has contacted the SEC about its findings.
Earlier this month, Xybernaut said its financial statements for fiscal 2002, 2003, along with the first three quarters of fiscal 2003 and 2004 should not be relied on.
The company said its new Office of Chairman of the Board has been authorized to retain a restructuring and management consultant. The co-chairmen are former interim Chairman William Tuttle and directors Harry Soyster and Marc Ginsberg.
On Monday Xybernaut shares were unchanged at 26 cents.
Never argue with an idiot -- they drag you down to their level, then beat you with experience.
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Neueste Beiträge aus dem XYBERNAUT CORP Forum
| Wertung | Antworten | Thema | Verfasser | letzter Verfasser | letzter Beitrag | |
| 4 | Jetzt Xybernaut kaufen! Riesenchance | Euroinvestor | Bäcker33 | 04.07.05 09:08 | ||
| 6 | Doc Udo, die lebt noch !! | Zick-Zock | Dr.UdoBroemme | 26.04.05 14:30 | ||
| 15 | xybernaut (xybr) baldiger Ausbruch? | kp100 | Bäcker33 | 08.11.04 15:50 | ||
| 9 | was soll ich tun mit xybernaut?? | DonHappy | Nassie | 07.11.02 23:15 | ||
| 33 | XYBR (Xybernaut) der dritte tag in folge positiv ! | Parocorp | Dr.UdoBroemme | 07.01.02 18:54 |
