Monday, November 30, 2009

Carl Freer Comments on $35 Million Loss and Davis-Warnock's Lawsuit

We asked Carl Freer to expand a little bit on the recent 10Q report for GetFugu, Inc, which indicates that the company balances on the brink of bankruptcy. Here is his comment:

"The 2009 losses has to do with the fact that Getfugu is a startup company, and that we chose not to rely on dilutive Venture Capital backing. Its typical and quite normal to book most of the expenses early on instead of amortizing it, because you can then start a clean year with profit (2010). We are moving forward with Getfugu, but there is no reason to pretend that times aren’t challenging. Heck, even Apple struggled at one point when Jobs came back in the 80’s... But we are very confident about our space and what we have to offer. Running a public company is not for the fainthearted...”
And here is his comment to the lawsuit against Carl Freer, and 33 other people/companies brought on by Simon Davis and John Warnock:
“You can sue anyone for anything in this great country... Now they have to make their case, and we will make ours. All the lawyers are telling me we win hands down. Let's see what happens.

In the meantime, I’m continuing to build Getfugu into a growing business addressing a big vacuum in the mobile space."
Didn't you recently file a lawsuit against Simon Davis and John Warnock?
"Yes, we filed suit two months ago, but without all the anonymous 'press releases.' Getfugu v Simon Davis, California Superior Court case no BC42175."
Hans Sandberg

Thursday, November 26, 2009

"Still Going Strong!" Carl Freer Says After Having Burnt $35M In 9 Months

GetFugu, Carl Freer's new AR-venture (Augmented Reality) seems to be heading for bankruptcy, and that soon. The company has $50,000 in cash and is burning $500,000 - 600,00 per month, according to the company's 10Q statement to the SEC from November 23. Still, Carl Freer insists that it's just a matter of being a start-up and that the company is "still going strong!"

Here is a snapshot from the report:
“We incurred losses from operations of $35,272,071 for the nine months ending September 30, 2009 and had an accumulated deficit of $35,320,321 as of September 30, 2009. We had cash totaling $681,607 as of September 30, 2009. As a result of our liquidity position, we have delayed payment of accounts payable and accrued expenses. Unless we obtain additional capital, loans or sell or license assets, we may be required to seek to reorganize our business or discontinue operations and liquidate our assets. There can be no assurance that we will be able to secure sufficient financing on terms acceptable to us. If additional funds are raised through the issuance of equity securities, the percentage ownership of our current stockholders is likely to or will be reduced."
"The accompanying financial statements have been prepared on the basis that we will continue as a going concern. We have financed our operations since inception primarily through the sale of shares of our stock and convertible notes. We have incurred significant operating losses and negative cash flows from operating activities since our inception. As of September 30, 2009 and the date of filing this report, these conditions raised substantial doubt as to our ability to continue as a going concern.    
We will need to immediately raise additional capital in order to avoid curtailing or substantially reducing operations.”
We asked Carl Freer for a comment. Is GetFugu heading for bankruptcy? Here is his answer:
"nope. But it is a start-up
Still going strong!"
 Hans Sandberg

Wednesday, November 25, 2009

This Bed Is Not Available At IKEA....... At Least Not Yet

Sweden is famous for many things, including seatbelts, Volvo, Ikea, zippers and it's welfare system. Add to that "Duxiana" and "Hästens" (made out of horse hair,) comfortable although expensive luxury beds that will make it easier to sleep through the long and dreary darkness of October through March. But for those of you that intend to stay awake, there is now more than Gevalia Coffee to rely on: Try the latest addition to the list of famous Swedish innovations (based on an old idea from India) -- The Nail Bed!

A Bed Where Comfort Is Not the Point 

Hans Sandberg

Thursday, November 19, 2009

Penn & Teller - Circumcision

The Most Stupid Argument For Circumcision - "The Son Should Look Like the Father"

I was watching a piece about circumcision on the Today Show. The piece was not bad, which was a nice surprise in itself, but it ends with a rather stupid statement by the blond co-host (I don't know the names of the hosts that day.. it was not the regulars, Kathy and Hoda): 

Dark-haired host:

"...a tough decision, and I made sure for my son that I stood there with him, because it was so hard on him..."
To which the blond host adds:
"No, no, I wasn't there for the actual 'nippin' or whatever you want to call it...but I thought also that for a lot of dads, because they want their sons to look like the way they look, so their sons can identify with their fathers."
The dark-haired host laughs:
"Why are you laughing?"
"I don't think it is a good enough reason!"
I've got a couple of questions for blond host:
How often does a father look at his son's penis past diaper changing age? And how often does the son inspect his father's penis? Would it really hurt the son's self-esteem if he saw that his father's penis looked like his when the foreskin is rolled back? And what father would be so stupid as to feel troubled if his son wasn't surgically altered as a baby? 
If a son can't identify with his father is he doesn't look like him, does that also go for the hair color, eye color?
Should a blind father make his son blind too? And if the father is missing a leg, should he make his son look like him in that respect to?

Hans Sandberg

The Dark Dreams of Christian Fundamentalists

Not a lot unlike Islamic fundamentalists, some Christian extremists are dreaming dark dreams, but their prayers for Obama's death can't stop change. Even if they succeeded in killing Obama, change will go on, like it did after Martin Luther King Jr., was assassinated. What Would Jesus Do? Grab a gun and kill the President... for some reason, it doesn't sound like something he would do... If you want to pray, maybe you should pray for the fundamentalists speedy return to reality.

Sunday, November 8, 2009

Stockholm Panorama

Stockholm - Allways beautiful, and it's one of the most livable cities in the world for at least 5 months of the year. For the other 7 months, there are plenty of art, culture and museums, plus all those wonderful cafés and restaurants.
Click on the Stockholm link at the beginning of this post to see a great panorama photo (from the Swedish daily newspaper Svenska Dagbladet.)

Wednesday, November 4, 2009

John Pavlik Discusses New Technology, Journalism And Storytelling

In this interesting video clip, Rutgers professor John V. Pavlik talks about new technology's impact on storytelling in media, and his 2008 book Media in the Digital Age. I interviewed John Pavlik when he was at Columbia University back in 1996. He was then involved in a research on a Mobile Journalist Tool, which would help journalists in the field using advanced computer and database technology. The article is included in my new book Amerikansk press under stress. It is also available on my Swedish website Sandbergs hörna.

Hans Sandberg

Hubble Telescope Images