I normally don't jump into these kind of discussions but ..........I can't help myself so the FACT'S are as follows ( and if you hear or read otherwise it is NOT true):
1. 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; As the company previously reported, and as a result of the restatement, previously issued financial statements are not accurate and should not be relied upon.
2. The company is 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.
3. Avid continues to invest in product innovation - Dave said it already online here. Since the beginning of the restatement process, we released Pro Tools 11.x , Media Composer 7.x, 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. Thats a lot of stuff along with..........
4. A compelling Avid Everywhere vision established, with the launch of the Avid Customer Association, and a significant number of new product innovation announcements planned for 2014, the company ( and I ) believe we remain well positioned to support you " our customers" ongoing success.
Thats the scoop.......and I believe it has been cleared up on the Cow and a few other sites that posted incorrect info.
Marianna
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