Syntax-Brillian Corporation shares now under $1

[Buckeyefan 1]

Isn't this wonderful?

Syntax-Brillian Corporation shares now under $1
Posted February 22nd, 2008 by Ted Gottsegen in Financial News

"Syntax-Brillian Corp. (Public, NASDAQ:BRLC) is today's biggest loser, falling 33% to under $1 a share, making it's one year-to-date return -88%.

In an 8-K filing with the Securities and Exchange Commission late Thursday, Syntax-Brillian said it has acknowledged certain 'specified events of default' under the credit agreement, and the lenders have agreed to forbear from exercising their remedies as a result of these specified events of default.

Add to it that on Feb 11th, BRLC said they need additional time to complete its financial statements for its second fiscal quarter ended December 31, 2007 and down the ship goes.

Who the hell is Syntax-Brillian again?

Syntax-Brillian Corporation (www.syntaxbrillian.com) is one of the world's leading manufacturers and marketers of LCD HDTVs, digital cameras, and microdisplay entertainment products. The Company's lead products include its Olevia(TM) brand (www.Olevia.com) high-definition widescreen LCD televisions -- one of the fastest growing global TV brands -- and Vivitar brand (www.vivitar.com) digital still and video cameras. Syntax-Brillian has built an Asian supply chain coupled with an international manufacturing and distribution network to support worldwide retail sales channels and position the Company as a market leader in consumer digital entertainment products. "

Read the rest here:

www.thestockmasters.com/brlc-02222008.html

 

[Buckeyefan 1]

Here's another article on the company:

www.fool.com/investing/value/2008/02/12/syntax-brillian-makes-an-unusual-move.aspx

Quick Take: Syntax-Brillian Makes an Unusual Move
By Anders Bylund (TMF Zahrim) February 12, 2008


"Flatscreen-TV maker Syntax-Brillian (Nasdaq: BRLC) was supposed to report earnings yesterday, but it decided to hold off for a while. A round of unexpected financial restatements is cramping the company's style.

S-B had shipped a whole lot of TVs to the Chinese Olympic Committee, but it needed about 27,000 more sets in North America than it had planned. So Syntax spent $99 million to buy back and redirect a bushel of big-screens, and it's now trying to figure out how to account for that move.

It just won't do to disappoint newly signed distributors Target (NYSE: TGT), Sears (Nasdaq: SHLD), and Circuit City (NYSE: CC) before the Presidents' Day weekend sales, even if that means taking unusual steps when the stock is in danger of delisting."

 

[stratman]

My Dell/Olevia has been a major disappointment, those that I know that had Dell/Olevias upgraded to more reliable brands.

 

[Audioholics]

I all but called this back when they started getting tons of captial and not producing any actual products directly... I wonder if this is tied to the pull-back by several companies (like Sony) on microdisplays...

 

[scott911]

poor customer service

I saw this coming years ago. I bought one of their 20" EDTV for something like $600 years ago - and that was a deal! Anyway, the unit developed purple strips within warentee, yet I had lost my reciept.

I had send my warrentee card in, so they knew it was a ligit claim - but they choose to spend months battling me...