iBiquity seeking $15,000,000 more.

[SUPERCASTER]

The Columbia, Md., company is in the process of raising a $15 million fourth round of venture capital, VentureBeat has learned.

http://venturebeat.com/2008/03/28/ibiquity-digital-raises-yet-another-round-to-fuel-hd-radio-ambitions/

If HD radio is so successful, why does iBiquity keep coming back for more cash/financing?

Can't iBiquity sustain itself?

Where and when is the payback?

Imagine the interest rate!

Perhaps there will eventually be another government bailout.

 

[GreedMongers]

"IBiquity sees digital radio signaling changes to come"

"The company has yet to turn a profit and does not expect to do so in 2007 or 2008, Struble said... Mass marketing and consumer adoption is the last hurdle, Struble said... Representatives of investment firms that have spots on iBiquity's board of directors could not be reached for comment, but Struble said they are excited about the progress the company is making. The focus is not on exit strategies yet, he said."

http://tinyurl.com/3don5y

Funny, that iBiquity's investors could not be reached for comment, despite claims by Struble that they are "excited". I believe that iBiquity has raised (burned through) $115 million, so far. Interesting, that iBiquity's board now consists of mainly their investors - but Struble made sure that he is Chairman. Even back in 2005, the Washington Post called iBiquity on its "make or break point".

"IBiquity Digital HQ expansion to include 82 new jobs"

"A $300,000 loan to iBiquity Digital Corp. from a state economic development fund helped pay for expansion of the company's Columbia headquarters."

http://www.bizjournals.com/baltimore/stories/2008/03/10/daily3.html

In order to receive this loan from the State of Maryland, iBiquity had to promise to keep its workforce at a particular level. Noy only has iBiquity locked in the major radio groups, but also major investment firms and even the State of Maryland. Struble is ripe for a Congreessional fraud-related investigation - he promised a system, which could never deliver. If iBiquity was doing so well with these "breakthrough" receiver sales, then why did they need to take out a loan from the State of Maryland - can anyone say "default".

 

[KB1OKL]

The Columbia, Md., company is in the process of raising a $15 million fourth round of venture capital, VentureBeat has learned.

http://venturebeat.com/2008/03/28/ibiquity-digital-raises-yet-another-round-to-fuel-hd-radio-ambitions/

If HD radio is so successful, why does iBiquity keep coming back for more cash/financing?

Can't iBiquity sustain itself?

Where and when is the payback?

Imagine the interest rate!

Perhaps there will eventually be another government bailout.

When I think of government bailout I think of Chrysler, at least they were a very successful company for many years with thousands of employees with a loyal following also for many years although that had pretty much waned by the time of the bailout but they have come back with some really nice cars since, think 300C for example. Now what does iNiquity have to offer except obsolescence of 800,000,000 radios, more lies, interference and severely reduced range coupled with lousy artificial shrill sound? Nothing.
If the government tries to raise this sunken, rotting hulk of a ship that has absolutely no treasure aboard, you KNOW that something stinks.

 

[Chuck]

Funny, that iBiquity's investors could not be reached for comment, despite claims by Struble that they are "excited". I believe that iBiquity has raised (burned through) $115 million, so far.

I'd be pretty "excited" too if somebody burned through $115 million of my money.

 

[Carmine5]

What else is iBiquity going to say when they have their hand out for more cash? They have to put on a happy face, use words like "excited" and give their disastrous technology as much of a positive spin as possible.

It's like the guy who heads Microsoft's Zune product line. The company recently posted a figure of 2 million units sold since the Zune's introduction and he was also using words like "excited" and saying they were "right on track." Never mind that Apple sold that amount of iPods in the first three months of '08. And the iPod is supposedly on a downward slide.

These marketing exec. guys are so good at 'weasel-wording', you'll never get a straight answer out of them so long as the company signs their paycheck.

C5