Comments

rextilleon wrote on 1/24/2003, 4:02 PM
Sounds like the dog ate the homework-------
billybk wrote on 1/24/2003, 4:25 PM
Supposedly, SOFO may be forced to sell off their profitable audio/video software business in order to stay fiscally solvent as a digital media company. Unfortunately for SOFO, bad business decisions in their other units, the economic downturn, arguably in-effective strategic marketing, along with some suspect over-priced aquisitons in the past, have saddled the company with a large debt burden. If indeed, the A/V software side is sold off, I am confident that the aquiring party would want to continue with R&D, marketing and support in order to maintain a viable and profitable entity, in order to justify it's own investment. I am not worried at all, the corporate owners may change, but the core popular apps ( Vegas 4, ACID Pro 4, Sound Forge 6 and CD Architect 5) will remain. In fact, personally, I will be upgrading to Vegas 4, as soon as it is available. Professionally, I work for a large audio-visual services company, I have been tasked to create a detailed proposal for setting up a portable digital video editing suite with a budget of $9,000 for the hardware and software. I will be recommending SOFO software to be the cornerstone of any video editing suite:

DV Software:

Vegas 4.0 + DVD Architect 1.0
Sound Forge 6.0
ACID Pro 4.0
Adobe Photoshop 7.0
Pixelan SpiceMaster 2.0


I have confidence in the future of SOFO's core software and it's developers, whether they remain with SOFO, is of course, another matter,


Billy Buck
rextilleon wrote on 1/24/2003, 5:17 PM
Yes---I think that most of agree with you---the products are fantastic and they should go on living no matter what happens----By the way, if I had 1,000,000 I would have lent it to the CEO of Sonic at those interest rates as a bridge loan, particularly when the loan is backed by the assets of the company! What a sweet deal for the relative!
billybk wrote on 1/24/2003, 5:23 PM
"$1 million bridge loan given to the company last November from chairman and CEO Rimas Buinevicius' brother. This loan is backed by nearly all the assets of the company and is due, with $250,000 in interest, by March."

Wow, did I read this right, $250,000 dollars interest on a five month $1,000,000 dollar bridge loan. Are the GOD's crazy! What is that, like 60% interest on an annualized basis. Who can stay in business making those kind of financial deals, and between brothers no doubt.

Billy Buck
rextilleon wrote on 1/24/2003, 5:43 PM
Yes, I agree---about two years we got a bridge loan from a major corporation at about a 9% interest rate----backed up by the property that we had purchased---60% to your brother is loan shark rates--if I was a stock holder of Sonic I would be on the warpath----However, I am a mere consumer who loves the product and is confident it will continue to exist and evolve no matter what happens.