posted
I guess the news didn't hit the wires yet since I don't see it in my streamer.
Posts: 712 | From: Pungo USA | Registered: Mar 2006
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posted
although it couldn´t hold it gains AND i was too slow to join the party i have to agree this was a 5 star alert! 5 stars from me for this great job R.A.!
Posts: 2473 | Registered: May 2006
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$4million earnings last quarter on 19 mill revenue.
Read the DEF14A for october, acquistion in the works.
Looks like the aquisition was completed on Nov 20th and an 8K was filed to document the transaction, the 10Q was also filed on the same day. The 10Q was not what I expected, but with the aquisition and name change it might be worth looking into. Here is the 8K.
Completion of Acquisition or Disposition of Assets
On November 20, 2006, Exabyte Corporation (Exabyte or the Company) completed the sale of substantially all of its assets to Tandberg Data Corp., a Delaware corporation and wholly-owned subsidiary of Tandberg Data ASA, a company organized under the laws of Norway (collectively, Tandberg). The sale was completed (the Transaction) pursuant to the Asset Purchase Agreement (the Agreement) between Exabyte and Tandberg dated August 29, 2006. The Agreement was included as an exhibit to a Form 8-K filed by the Company dated August 29, 2006, which also included a description of the significant terms and conditions of the Agreement and other related matters. The Agreement was approved by the Company’s Independent Committee, ratified by its Board of Directors, and approved by the Company’s stockholders on November 16, 2006. In connection with the approval of the Transaction, the stockholders of Exabyte also approved proposals providing for the immediate dissolution of the Company, and the changing of the corporate name of the Company to MidgardXXI, Inc. (“Midgard”), upon consummation of the Transaction. The Total Consideration for the Purchased Assets (as defined in the Agreement), which consist of substantially all of the Company’s assets, was (a) cash of approximately $22,004,000, and (b) the assumption of the Assumed Liabilities (as defined in the Agreement). The cash purchase price and payment to the Company at closing consisted of:
• the outstanding principal balance and accrued interest thereon of $9,614,000 under the loan agreement with Wells Fargo Business Credit, Inc. (Wells Fargo);
• the repayment obligations under the Convertible Notes Restructuring Agreements with the holders (Noteholders) of the Company’s 10% Secured Subordinated Convertible Notes (the Convertible Notes) ($7,790,000);
• the payment obligation under the Amendment No. 1 to the Debt Restructuring Agreement with Solectron Corporation (Solectron) ($300,000);
• the payment obligation under the Second Amendment to the Memorandum of Understanding with Hitachi, Ltd. (Hitachi) ($2,000,000);
• the amount payable under the Note Restructuring Agreement with Imation Corp. (Imation) ($1,000,000);
• transaction fees paid at closing (approximately $1,200,000); and
• the cash balance to be retained by Exabyte subsequent to closing ($100,000).
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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Exabyte Corporation (OTCBB: EXBY) Monday's market went up 11.67% to $0.019 per share, with a total of 294,518 shares traded.
The company announced the availability of Tandberg Data's RDX QuikStor to its channel partners in the U.S. RDX QuikStor is a new disk-based storage device with removable disk cartridges for data backup and archival storage, designed for SMB and professional office users. Made possible by the pending purchase of Exabyte assets by Tandberg Data, this marks the first time that Exabyte has offered a disk-based system to complement its family of VXA and LTO tape products. RDX QuikStor is a disk-based storage system with removable disk cartridges that offers rugged, reliable and convenient backup. It combines the benefits of tape - reliability, portability, archive life, and low cost - with the performance, speed, random access, and ease of use of hard disk technology, all at a competitive price. The product is available in two configurations: an internal (3.5" or 5.25") SATA docking bay or an external USB docking bay. RDX QuikStor features fast transfer rates of 30-35 MB/sec. (SATA 2.0) and 25 MB/sec. (USB 2.0) and a range of native storage capacities via 40, 80, and 120 GB removable disk cartridges. The rugged shock-proof design of the removable disk cartridge means it is protected even under the most extreme conditions. RDX QuikStor ships with Symantec Backup Exec QS backup software and is compatible with all the leading backup applications. Its well-defined product roadmap and a three-year warranty provide maximum investment protection.
Exabyte Corporation engages in the design, manufacture, and marketing of tape storage solutions worldwide. It offers information storage products, including tape drive and automation products, and recording media based on VXA packet drives, autoloaders, and tapes to read and write data in small, digital packets similar to the Internet. The company also provides and supports automated tape drive products that incorporate tape drives and multiple media cartridges. It sells tape storage, media, and automation solutions for workstations, midrange servers, and enterprise storage networks through a network of original equipment manufacturers, distributors, and resellers. The company was co-founded by Juan Rodriguez and Kelly Beavers in 1985 and is headquartered in Boulder, Colorado.
-------------------- Success is having the time and money to enjoy all of life's wonders... Posts: 2083 | Registered: Nov 2005
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