So maybe that is what I don't understand - how can a company with $3 Billion in Market cap be on the verge of bankruptcy?
Two points: 1. the market cap isn't $3B. They have just under 270 million shares outstanding, valued currently at less than a buck a share. So call it a quarter billion dollars, give or take. That's down 80-90% from a year ago.
Second, market cap is a function of profitability and financial health, not the other way around. Investors have been bailing out of Kodak as it becomes clear that this is not going to end well. The company hasn't been profitable for any of the last five years.
If their patents are valid, the patent portfolio would be at least worth ~$160 million.
Quote:
Originally Posted by charlituna
way way less than what Apple has in the bank.
It's way less than the cash flow Apple generates in a week -- but unfortunately it's also a completely meaningless figure. Kodak's share price is severely depressed because they have already said that Chapter 11 bankruptcy is likely. In a bankruptcy, shareholder equity is normally wiped out. Anyone who buys Kodak shares at this point is casino gambling on a stock that is probably worthless.
Two points: 1. the market cap isn't $3B. They have just under 270 million shares outstanding, valued currently at less than a buck a share. So call it a quarter billion dollars, give or take. That's down 80-90% from a year ago.
Second, market cap is a function of profitability and financial health, not the other way around. Investors have been bailing out of Kodak as it becomes clear that this is not going to end well. The company hasn't been profitable for any of the last five years.
Market cap is a function of the number of shares outstanding times the current share price. Nothing more. A company's market cap can trade under book value. It can even trade under cash on hand value. This does not mean that the company can be acquired for a fire sale price represented by market cap because their assets can easily be worth far more than the markets current value the company's equity. A simple but important fact is that shareholder equity is not the same as the company's value. It's just one, fairly abstract measure of value. If a public company files for bankruptcy, shareholder equity is normally wiped out -- even if the company lives on and issues new common stock.
At the time my comment made sense to me. lol. I read what I replied to correctly but didn't think much further into it. Digital media was a quick boom in the tech world but Kodak should've gained better footing and not put all their eggs in one basket down the line...especially since they were early pioneers in digital media.
I was focusing only on the quick transition from film to digital and ignored all the other nuances when he said "oops"
From my misunderstood POV it'd be as oops as something entirely unpredictable happening to you...aka, not oops.
First Polaroid and now Kodak. But then, Polaroid has reinvented itself ... Or more precisely, Polaroid lives on in different ways now - as a reinvented company trying to merge the old Polaroid concept with digital reality, and in the guise of the Impossible Project. Don't know if Kodak can pursue the same path given that, unlike Polaroid, it does not have a true monopoly in any particular product category.
Capturing digital images to be transferred to an e-mail address
Abstract
An electronic still camera for capturing images to be transferred to at least one e-mail address is disclosed. The electronic still camera includes an image sensor for capturing a plurality of images of scenes and for producing image signals representative of the corresponding scenes; an analog-to-digital converter for digitizing the image signals to produce digital images; and a removable memory card for storing a plurality of digital image files corresponding to the digital images. The electronic still camera also includes an internal memory for storing at least one digital image to be displayed and a plurality of e-mail addresses; a processor for controlling the transfer of the digital images from the removable memory card to the internal memory and for producing a utilization file; and a display coupled to the internal memory for displaying at least one digital image. The electronic still camera further includes a user interface for selecting at least one e-mail address and for scrolling through the plurality of digital images stored on the removable memory card in order to display and select particular digital images to be transferred to the selected at least one e-mail address, wherein the utilization file includes the at least one selected e-mail address and the name of at least one digital image file to be transferred to the at least one selected e-mail address and the processor stores the utilization file on the removable memory card separate from the digital image files.
Filed: July 1, 2005
Yup, my Nokia 3650 (and the Nokia 7650) did all that in 2002.
Comments
So maybe that is what I don't understand - how can a company with $3 Billion in Market cap be on the verge of bankruptcy?
Two points: 1. the market cap isn't $3B. They have just under 270 million shares outstanding, valued currently at less than a buck a share. So call it a quarter billion dollars, give or take. That's down 80-90% from a year ago.
Second, market cap is a function of profitability and financial health, not the other way around. Investors have been bailing out of Kodak as it becomes clear that this is not going to end well. The company hasn't been profitable for any of the last five years.
Kodak's market cap is ~$160 million.
If their patents are valid, the patent portfolio would be at least worth ~$160 million.
way way less than what Apple has in the bank.
It's way less than the cash flow Apple generates in a week -- but unfortunately it's also a completely meaningless figure. Kodak's share price is severely depressed because they have already said that Chapter 11 bankruptcy is likely. In a bankruptcy, shareholder equity is normally wiped out. Anyone who buys Kodak shares at this point is casino gambling on a stock that is probably worthless.
Two points: 1. the market cap isn't $3B. They have just under 270 million shares outstanding, valued currently at less than a buck a share. So call it a quarter billion dollars, give or take. That's down 80-90% from a year ago.
Second, market cap is a function of profitability and financial health, not the other way around. Investors have been bailing out of Kodak as it becomes clear that this is not going to end well. The company hasn't been profitable for any of the last five years.
Market cap is a function of the number of shares outstanding times the current share price. Nothing more. A company's market cap can trade under book value. It can even trade under cash on hand value. This does not mean that the company can be acquired for a fire sale price represented by market cap because their assets can easily be worth far more than the markets current value the company's equity. A simple but important fact is that shareholder equity is not the same as the company's value. It's just one, fairly abstract measure of value. If a public company files for bankruptcy, shareholder equity is normally wiped out -- even if the company lives on and issues new common stock.
That's about as oops as someone who walks into the path of a drunk driver while on his lawn. You can't plan for the unexpected.
I really don't understand you.
I really don't understand you.
At the time my comment made sense to me. lol. I read what I replied to correctly but didn't think much further into it. Digital media was a quick boom in the tech world but Kodak should've gained better footing and not put all their eggs in one basket down the line...especially since they were early pioneers in digital media.
I was focusing only on the quick transition from film to digital and ignored all the other nuances when he said "oops"
From my misunderstood POV it'd be as oops as something entirely unpredictable happening to you...aka, not oops.
United States Patent \t7,453,605
Parulski , et al. \t November 18, 2008
Capturing digital images to be transferred to an e-mail address
Abstract
An electronic still camera for capturing images to be transferred to at least one e-mail address is disclosed. The electronic still camera includes an image sensor for capturing a plurality of images of scenes and for producing image signals representative of the corresponding scenes; an analog-to-digital converter for digitizing the image signals to produce digital images; and a removable memory card for storing a plurality of digital image files corresponding to the digital images. The electronic still camera also includes an internal memory for storing at least one digital image to be displayed and a plurality of e-mail addresses; a processor for controlling the transfer of the digital images from the removable memory card to the internal memory and for producing a utilization file; and a display coupled to the internal memory for displaying at least one digital image. The electronic still camera further includes a user interface for selecting at least one e-mail address and for scrolling through the plurality of digital images stored on the removable memory card in order to display and select particular digital images to be transferred to the selected at least one e-mail address, wherein the utilization file includes the at least one selected e-mail address and the name of at least one digital image file to be transferred to the at least one selected e-mail address and the processor stores the utilization file on the removable memory card separate from the digital image files.
Filed: July 1, 2005
Yup, my Nokia 3650 (and the Nokia 7650) did all that in 2002.