verbrennt sich die Finger sagte Kostolany
und Geoworks ist sicher so ein Beispiel.Hier haste die relevanten News aus dem letzten Filing,Restructure,verkaufen gerade ihre Milchkühe um zu überleben und die Cashburnrate scheint fulminant,ausserdem vermutlich Delisting von der Nasdaq:
Geoworks Corporation is a provider of leading-edge software design and engineering services to the mobile and handheld device industry. With nearly two decades of experience developing wireless operating systems, related applications and wireless server technology, Geoworks has worked with industry leaders in mobile phones and mobile data applications including Mitsubishi Electric Corporation and Nokia.
In October 2001, we implemented a number of additional cost-cutting measures to conserve our resources. We terminated 70 employees, or 45% of our workforce. For the three months ended December 31, 2001 we recorded restructuring charges of $400,000 and asset impairment charges of $2,732,000, of which $732,000 were related to the October 2001 reorganization and the balance of $2,000,000 were related to the January 2002 reorganization, discussed below.
As previously disclosed, we have been working with our financial advisors to explore our strategic options. While we successfully implemented the cost-cutting measures announced in June and October 2001, we now believe that we do not have adequate financial resources to support the ongoing development of the AirBoss Application Platform. As a result, our Board of Directors has concluded that it would be in our best interests and those of our stockholders to reorganize the business by selling the AirBoss technology and the source code for our legacy products and technology, including the GEOS and GEOS-SC operating systems and various patents, and focusing on realizing the value of our professional services organization.
Therefore, in January 2002 we announced the reorganization as well as the implementation of several additional cost-cutting measures, including:
o Terminating 40 additional employees, or 45% of our workforce, primarily from our AirBoss and headquarters staff, between January and April 2002.
o Relocating our headquarters from Alameda, California to less expensive office space in Emeryville, California, as soon as possible; and
o Making appropriate changes to our management team and board during the fourth fiscal quarter.
Professional services revenue decreased by $429,000, or 20%, to $1,728,000, and by $737,000, or 12%, to $5,264,000, in the three and nine months ended December 31, 2001
....revenues have decreased, primarily due to the loss of our subcontract with Telcordia, a related party, as a result of the termination of Telcordia's contract with Telkom South Africa in March 2001
Until the reorganization is completed, which we currently anticipate will be no later than the end of our fourth fiscal quarter, we expect to incur limited expenses of this nature. We do not currently expect to incur any significant level of such costs in the foreseeable future.
The Company's total cash and cash equivalents were $4,053,000 at December 31, 2001, compared with $13,713,000 at March 31, 2001. Net cash used by operations in the nine months ended December 31, 2001 was $12,008,000 as compared to $7,865,000 in the nine months ended December 31, 2000. Our net loss for the nine months ended December 31, 2001 of $9,116,000, excluding non-cash amortization of goodwill and other intangible assets, and the write-down of goodwill, intangibles and other long-lived assets was the primary reason for the decline in our cash balance. Our cash usage during this period was greater than our cash usage during same period of the prior fiscal year primarily because our operating results deteriorated during that period, as compared to the same period of the prior fiscal year. In particular, our revenues decreased by over $2.5 million, while our expenses, excluding non-cash charges for amortization, purchased in process research and development, and the write-down of goodwill and long-lived assets, increased by $1.4 million. In addition, we used $1,723,000 to purchase equipment and property in the nine months ended December 31, 2001,
There can be no assurance that our reorganization will have the intended effect on our business
We have a history of operating losses and expect to continue to incur losses in the future
Our stock will likely be delisted from the Nasdaq National Market
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