Subject: General Tech | February 6, 2013 - 01:20 PM | Jeremy Hellstrom
Tagged: fud, ocz, income, doom
OCZ is hours away from being delisted from the stock exchange and it will be very difficult for them to make the deadline as they have to submit a plan detailing how they will provide an accurate accounting of their quarterly profits by Feb 28th. This is a bit of a problem considering that they do not seem to have submitted an accurate profit statement since Q1 of 2012 at the most recent. In Q2 Ryan Petersen originally forecasted profits between $110-120m but after Petersen left and Ralph Schmitt took over those predicted profits dropped drastically to somewhere around $65-$85m, not accurate enough for Wells Fargo to consider it a proper financial statement. From what The Register has learned, OCZ cannot estimate Q2 or Q3 earnings at this time, nor are they quite sure what the economic impact incentive programme liabilities and inventory run-down charges will have. Things do not look good.
We heard from OCZ that they have indeed been working hard with Crowe Horwath LLP on getting their preliminary results for 2012 and Q1 of 2013 ready for the market. It was also brought to our attention that the Nasdaq is permitted to grant an extension of up to 180 days, which would be April 8th, for the Company to regain compliance with the SEC and other institutions. This lessens the danger that OCZ faces and while the stock has tumbled a bit over the past few months as of this update they are at $2.09/share, flat for the days trading, traders are exhibiting confidence in the company. According to Seeking Alpha last night it was announced that "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." That is still a wide variance but you should not count OCZ out quite yet. We will continue to keep an eye on the market and OCZ's responses.
"Stifel Nicolaus analyst Aaron Rakers noted there was no announcement of a filing of the required Nasdaq update plan today. Unless that is handed in on time, OCZ is out of Nasdaq and, as a result, getting bank credit will be much more difficult. Wells Fargo could wave goodbye and consign OCZ to the scrap heap in a forced asset sale. This is about as bad as it gets, but OCZ's survival is still possible."
Here is some more Tech News from around the web:
- Making the most of your move to Office 365 @ TechwareLabs
- Crooks, think your Trojan looks legit? This one has a DIGITAL CERTIFICATE @ The Register
- Inside the Macintosh SE @ Hardware Secrets
- Win Biostar Hi-Fi Mainboards with KitGuru
- Logitech Joint Giveaway @ Nikktech
Introduction, expert discussion panels, hardware workshop
The final day of Quakecon 2012 featured more expert discussion panels from leaders in the gaming industry about the latest games people at Quakecon were excited about like Dishonored, Halo 4, and Borderlands 2 to name a few. We also hosted our annual hardware workshop and gave away more than $30,000 worth of hardware and prizes to over 2,000 workshop attendees!
The BYOC area and exhibit hall also reached capacity for Quakecon attendees to see the semi-finals for the annual Bawls chugging competition and play in Tribes: Ascend mini tournaments at the Alienware exhibit. We also got a demonstration of John Carmack's original prototype virtual reality headset that he initially debuted at E3 this year. Carmack is working with Oculus Rift to design VR headsets for gaming that include stereoscopic 3D and a wide 110-degree field of view. The day concluded with a huge party to watch the annual case mod contest finals, Bawls chugging finals, and Quake Live finals.
Event kickoff, hardware workshop prizes, packed BYOC!
Yesterday marked the official start of Quakecon 2012 at the Hilton Anatole in Dallas, Texas. This four-day event includes PC gaming awesomeness for more than 2,800 gamers in the Bring Your Own Computer LAN section as well as access to numerous gaming vendors and PC hardware exhibits. The event is sponsored by many big names in the gaming and PC hardware industry as well like Alienware, Intel, Ventrilo, Plantronics Gamecom, Cooler Master, Western Digital, and many others.
The day got off to a rocky start as id Software co-founder John Carmack's annual keynote address was delayed by more than two hours. Hundreds of gamers also lined the hallways waiting throughout the day for the opportunity to get into the already packed BYOC. But, unfortunately many were turned away from gaming at the event. This is one of the first times in almost a decade that the BYOC area was filled to capacity on the very first day of Quakecon!
There are few people in the gaming industry that you simply must pay attention to when they speak. One of them is John Carmack, founder of id Software and a friend of the site, creator of Doom. Another is Epic Games' Tim Sweeney, another pioneer in the field of computer graphics that brought us the magic of Unreal before bringing the rest of the gaming industry the Unreal Engine.
At DICE 2012, a trade show for game developers to demo their wares and learn from each other, Sweeney gave a talk on the future of computing hardware and its future. (You can see the source of my information and slides here at Gamespot.) Many pundits, media and even developers have brought up the idea that the next console generation that we know is coming will be the last - we will have reached the point in our computing capacity that gamers and designers will be comfortable with the quality and realism provided. Forever.
Think about that a moment; has anything ever appeared so obviously crazy? Yet, in a world where gaming has seemed to regress into the handheld spaces of iPhone and iPad, many would have you believe that it is indeed the case. Companies like NVIDIA and AMD that spend billions of dollars developing new high-powered graphics technologies would simply NOT do so anymore and instead focus only on low power. Actually...that is kind of happening with NVIDIA Tegra and AMD's move to APUs, but both claim that the development of leading graphics technology is what allows them to feed the low end - the sub-$100 graphics cards, SoC for phones and tablets and more.
Sweeney started the discussion by teaching everyone a little about human anatomy.
The human eye has been studied quite extensively and the amount of information we know about it would likely surprise. With 120 million monochrome receptors and 5M color, the eye and brain are able to do what even our most advanced cameras are unable to.
Last week we were in Dallas, Texas covering Quakecon 2011 as well as hosting our very own PC Perspective Hardware Workshop. While we had over 1100 attendees at the event and had a blast judging the case mod contest, one of the highlights of the event is always getting to sit down with John Carmack and pick his brain about topics of interest. We got about 30 minutes of John's time over the weekend and pestered him with questions about the GPU hardware race, how Intel's intergrated graphics (and AMD Fusion) fit in the future of PCs, the continuing debate about ray tracing, rasterization, voxels and infinite detail engines, key technologies for PC gamers like multi-display engines and a lot more!
One of our most read articles of all time was our previous interview with Carmack that focused a lot more on the ray tracing and rasterization debate. If you never read that, much of it is still very relevant today and is worth reading over.
This year though John has come full circle on several things including ray tracing, GPGPU workloads and even the advantages that console hardware has over PC gaming hardware.
Introduction, 20 years of id Software, Skyrim, Prey 2
To commemorate 20 years in the gaming industry, several senior members of id Software came together for a “20 Years of id Software” panel to relive some of the history and mystery surrounding the company. John Carmack, Todd Hollenshead, Kevin Cloud and Tim Willits gave Quakecon gamers a fresh and candid look at id Software's humble beginnings and an in-depth view of their philsophies on PC, console, and mobile gaming.
During the question and answer session, the panel was asked about their advice and opinions on becoming an artist and programmer and their vision of the future of PC and console gaming. At the end of the panel discussion, the id Software team thanked the Quake community for their continued support as well as the Quakecon volunteers for their commitment to making the annual event a success every year.
One pleasant surprise was having G4TV’s Morgan Webb as the panel moderator for the event. Webb was her usual smart and sassy self and helped make the event fun and lively for everyone. Overall, the event was very engaging and we got to see the id Software team in a different light that most gamers don't get to see from today's game developers.
id Software executives Todd Hollenshead, Paul Steed, and John Carmack provided the opening remarks to kick off the start of this year's Quakecon 2011 today at the Hilton Anatole in Dallas, Texas. Quakecon is the largest LAN party in North America and typically draws thousands of gamers from all over the world.
Hollenshead got the crowd going with several announcements for discounted games on Steam and the first public demonstration of The Elder Scrolls V: SkyRim. He also mentioned the first demo of sequel Prey 2. Every iOS game put out by id Software, which includes game titles like Rage, Doom II RPG, Wolfenstein, and others, will be 50 percent off from Thursday to Sunday. Hollenshead also challenges Quakecon participates and stated that if the Rage Facebook pages gets 100,000 likes by the end of the weekend, the Rage iOS games will be free for a limited time. PC gamers were not left in the cold as the Doom and Quake pack that includes every Doom and Quake game available on Steam can be purchased for $29.99. Gamers can also drop some cash for the Quakecon Pack, which includes every Bethesda Softworks and id Software title available on Steam for only $69.99. This price will be reduced for gamers who pre-order Rage, Skyrim or both game titles.