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Avid -even more scary info....

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lfm
KVRAF
 
2813 posts since 22 Jan, 2005, from Sweden

Postby lfm; Fri Feb 28, 2014 2:24 am Avid -even more scary info....

Now they order KVR to shutdown discussions and remove all comments....hmmmmm

Excuse themselves by having low priority on investor crucial information...
...claiming report reference are faulty - but do not provide the correct information instead?

and this has nothing to do with the company is on the downfall....

[MOD EDIT]

Here is Avid's statement:

The financial results being quoted in this article are erroneous. Due to the accounting evaluation and restatement process Avid has been going through, we have not issued any financial statements after Q3 2012. As we have previously reported, as a result of the restatement, previously issued financial statements are not accurate and should not be relied upon. We request that you delete any reference to Avid’s financial results, as your reporting is inaccurate.

Avid’s de-listing from NASDAQ and its subsequent listing on OTC is the result of delays in the reporting of financial information -- it was not related to operating performance in any way.

We are continuing to work very hard to correct the accounting, which is related to nearly 5 million transaction lines spanning eight-and-a half years. We announced that we are targeting completion of the restatement by mid-2014.

We continue to invest in product innovation. Since the beginning of the restatement process, we released Pro Tools 11, Media Composer 7, Sibelius 7.5, two new online shared storage offerings, a brand new mixing console – the S6, as well as a new live sound system – Avid S3L.

With a compelling Avid Everywhere vision established, the launch of the ACA, a significant number of new product innovation announcements planned for 2014, we believe we remain well positioned to support our customers’ ongoing success.
tooneba
KVRist
 
349 posts since 6 Nov, 2012

Postby tooneba; Fri Feb 28, 2014 3:12 am Re: Avid -even more scary info....

So strange behavior quicky done by them... Usually Kvr does split thread or move it to chat forum and at least let us read and continue discussions. We have seen many developers that had to change the way they run business. And we could discuss about it along with the rumors and news. Sadly they don't want us to do either this time.
Mushy Mushy
KVRAF
 
6360 posts since 6 Sep, 2008

Postby Mushy Mushy; Fri Feb 28, 2014 3:14 am Re: Avid -even more scary info....

Rightly so as none of us had any f*cking idea of the true story.
"I was wondering if you'd like to try Magic Mushrooms"
"Oooh I dont know. Sounds a bit scary"
"It's not scary. You just lose a sense of who you are and all that sh!t"
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Karten
KVRian
 
1138 posts since 1 Mar, 2010, from Paris, FR

Postby Karten; Fri Feb 28, 2014 3:18 am Re: Avid -even more scary info....

Ben just doesn't want to lose the advertising revenue from them, which is understandable.
Vincent @ Ghostwave Audio
Soundbanks for Synplant, Sylenth1, DUNE, Ultra-Analog and more - www.ghostwaveaudio.com
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Ben [KVR]
Mr KVR
 
1178 posts since 22 Oct, 2000, from Newport Pagnell, UK

Postby Ben [KVR]; Fri Feb 28, 2014 3:20 am Re: Avid -even more scary info....

You can still discuss the subject here but there was a lot of misinformation and speculation in that topic based on the original wrong story.

Ben just doesn't want to lose the advertising revenue from them, which is understandable.


Avid don't currently advertise with KVR. :neutral:
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Numanoid
KVRAF
 
8619 posts since 20 Jan, 2008, from Down on the farm

Postby Numanoid; Fri Feb 28, 2014 3:27 am Re: Avid -even more scary info....

Avid and Pro Tools will soldier on.

I don't think all those developers have made AAX version of their plugs, if it should be to no avail.
Halb Wesen und halb Ding
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EnGee
KVRian
 
866 posts since 7 Oct, 2005, from Auckland

Postby EnGee; Fri Feb 28, 2014 3:30 am Re: Avid -even more scary info....

Really strange from Avid! I didn't have anything against them before but now they have distorted their image in my mind.

I expected a representative to come and say "Hey guys, it is not what you think, the truth is ....etc" instead of ...

Anyway in before the lock!
lfm
KVRAF
 
2813 posts since 22 Jan, 2005, from Sweden

Postby lfm; Fri Feb 28, 2014 4:25 am Re: Avid -even more scary info....

1st, thanks for insert of the statement - it helps.

I'm really disturbed by the following.

"Avid’s de-listing from NASDAQ and its subsequent listing on OTC is the result of delays in the reporting of financial information -- it was not related to operating performance in any way."

So top management low priority of this is not related to companies performance?
For years.....?

Preceeding downfall of a company is usually just this - trying to cover up bad performance to stockmarket - delaying reports, falsifying reports....

I don't know the rules for Nasdaq NY, but Nasdaq OMX stockholm is bound to report sales of stocks from top management of listed companies to financial inspection in sweden. Crucial information for investors when top management sell of their shares.

Would be interesting to know in this Avid case.
woodsdenis
KVRist
 
285 posts since 24 Feb, 2005

Postby woodsdenis; Fri Feb 28, 2014 5:44 am Re: Avid -even more scary info....

Bottom line , Ben did the right thing, there is no conspiracy to silence here. The truth will come out eventually when they do release the proper up to date financial records.

Is this whole scenario good for the company? no, Do they have a lot of explaining to do ? absolutely yes .But we don't want to drive the company under because of something of which we know nothing.

There are peoples jobs at stake here, this goes far beyond 'I like FL best', and 'Reaper rules', or 'Avid are akin the Darth Vader' type comments. It would be a tragedy for a lot of people IF Avid goes under, so lets not contribute to that unwittingly.
Mac Pro
10.9.5
PT10 Native, Studio One 2.6.2 Ableton Live 9.1.5
VitaminD
Pick Me Pick me!
 
7704 posts since 11 Mar, 2002, from a state of confusion

Postby VitaminD; Fri Feb 28, 2014 5:59 am Re: Avid -even more scary info....

Bottomer bottom line: Avid employees must lurk here. I wonder who else does? :wheee:
"Use the talents you possess, for the woods would be very silent if no birds sang except the best." - Henry Van Dyke
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osiris
KVRAF
 
7320 posts since 20 Nov, 2003, from Lost and Spaced

Postby osiris; Fri Feb 28, 2014 6:04 am Re: Avid -even more scary info....

The only reason for the de-listing is they haven't reported earnings since 3rd quarter 2013. The price is still strong - usually the readon for de-listing is the stock falls below $1.00. It's far from that.
I would bet good money they are going private.
Two words : Native Instruments. Exactly what happened there.
woodsdenis
KVRist
 
285 posts since 24 Feb, 2005

Postby woodsdenis; Fri Feb 28, 2014 6:52 am Re: Avid -even more scary info....

VitaminD wrote:Bottomer bottom line: Avid employees must lurk here. I wonder who else does? :wheee:

I don't work for Avid or have any affiliation with them, I do however have a sense of reason , and I don't kick people or companies when they are down. No conspiracy here, sorry.
Mac Pro
10.9.5
PT10 Native, Studio One 2.6.2 Ableton Live 9.1.5
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ZenPunkHippy
KVRAF
 
10303 posts since 18 Jun, 2008, from Melbourne, Australia

Postby ZenPunkHippy; Fri Feb 28, 2014 6:57 am Re: Avid -even more scary info....

VitaminD wrote:Bottomer bottom line: Avid employees must lurk here. I wonder who else does? :wheee:

Apple ... no doubt others. It's to be expected on a board like this where people discuss high profile products!

Peace,
Andy.
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vurt
addled muppet weed
 
33618 posts since 25 Jan, 2003, from through the looking glass

Postby vurt; Fri Feb 28, 2014 6:59 am Re: Avid -even more scary info....

ZenPunkHippy wrote:
VitaminD wrote:Bottomer bottom line: Avid employees must lurk here. I wonder who else does? :wheee:

Apple ... no doubt others. It's to be expected on a board like this where people discuss high profile products!

Peace,
Andy.



also, id imagine one or two people who work for audio related companies might have an interest in the products as a hobby and may just be "members" like the rest of us.
or we could go down the "we're being spied upon!" route as it helps us feel important...
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ZenPunkHippy
KVRAF
 
10303 posts since 18 Jun, 2008, from Melbourne, Australia

Postby ZenPunkHippy; Fri Feb 28, 2014 7:01 am Re: Avid -even more scary info....

:lol:

All your privacy belong to us!
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