Russound released a statement today from CEO Charlie Porritt who summed up their experience at the recent ISE 2023 event in Barcelona. According to Porritt, the show was “one of the most productive, well-run, and enjoyable trade events to date.” It doesn’t get much better than that…
Brands
The Transformation Begins: Parasound Appoints Larry Bennett as VP of Sales & Marketing
Parasound announced today that it has appointed Larry Bennett, a well-known audio industry veteran, as its Vice President of Sales and Marketing. The company says that this is the first step in new owner David Sheriff’s plan to revitalize the company.
See more on Larry Bennett’s appointment at Parasound
[Read more…] about The Transformation Begins: Parasound Appoints Larry Bennett as VP of Sales & MarketingThe Wild Ride of WiSA Chasing Compliance
WiSA Technologies, Inc. (NASDAQ: WISA) has been on a wild and rocky ride over the last few days as it scrambled to head off a delisting action by the Nasdaq stock exchange designed to force its stock listing off the exchange. At issue, the company’s business struggles that contributed to its declining stock bid prices have put it in violation of specific exchange rules governing maintained minimum pricing levels. This led the exchange to begin the delisting process, which WiSA appealed in order to buy itself some time.
The company then quickly embarked on a strategy – a mad dash really – to inflate its stock price artificially via a reverse stock split. But this tactic appears to have failed to impress investors, causing its stock bid price to collapse like an out-of-control toboggan ride down a cliff.
See the wild ride and rocky ride of WiSA
[Read more…] about The Wild Ride of WiSA Chasing ComplianceSources: Snap One has Restructured Operations with Staff Layoffs
Multiple reports are pouring in that Snap One, a leading custom integration supplier, has just completed a restructuring that resulted in layoffs. It is not clear at this point just how many employees were cut, but it was significant enough to motivate several sources around the country to reach out to Strata-gee.
See what we know so far on the Snap One restructuring
[Read more…] about Sources: Snap One has Restructured Operations with Staff LayoffsWiSA Runs Afoul of Another NASDAQ Rule; A Delisting Action has Begun
Company Calls a Special Shareholders Meeting Today
The trials and travails of WiSA Technologies (NASDAQ: WISA) appear to be continuing, if not accelerating, as the company said it has received a new notification from the Nasdaq stock exchange informing the company that its stock has violated yet another rule of the exchange, triggering a new instant delisting process. And this all took place in the wake of it just having won an additional 180-day extension period to try and cure a previous violation of a different rule from 2022. So what happens now?
See what new trouble WiSA finds itself in…
[Read more…] about WiSA Runs Afoul of Another NASDAQ Rule; A Delisting Action has BegunMore Tech Layoffs are Revealed as Google Cuts 12,000 Jobs
UPDATE to ‘Tech Takes a Turn…Downward’ Post Seen Here
Just one day after I posted the story Tech Takes a Turn…Downwards, we learned of more layoffs hitting tech, including Google parent Alphabet, Spotify, Vox Media, and more. These additional reports of even more tech layoffs only help to affirm the reality of a slowdown hitting big tech and other areas that are adjacent to tech, such as media focused on tech.
See more layoff news in tech and tech-adjacent areas
[Read more…] about More Tech Layoffs are Revealed as Google Cuts 12,000 JobsTrinnov Audio Appoints Its First Customer Support Manager
Trinnov Audio announced on Tuesday that it has created a new position at the company of Customer Support Manager and appointed Chrisanne Rhodes to the role. For a company offering highly sophisticated technologies and products, this new role is likely to be an extremely important addition to the company’s support of all levels of the market from dealers to end-users.
See more on the new Customer Support Manager role at Trinnov
[Read more…] about Trinnov Audio Appoints Its First Customer Support ManagerVoxx Int’l Fiscal 3rd Quarter Sales Drop 25.4%; Profits Up on Cost Cutting
CEO Says Onkyo AVRs Offered to Costco This Year
Citing the “current state of the global economies” and “ongoing supply chain issues” Voxx International (NASDAQ: VOXX) reported the results of their fiscal 2023, third quarter this week and it was a story of more of the same, perhaps intensifying, business challenges that they identified when the company announced its second-quarter results. All of its major business segments reported sales declines – dropping double-digit percentages – with overall sales dropping 25.4% year-over-year. But the company said profits increased on aggressive cost cutting.
Learn more about Voxx Int’l fiscal 2023 third quarter performance
[Read more…] about Voxx Int’l Fiscal 3rd Quarter Sales Drop 25.4%; Profits Up on Cost CuttingFacing NASDAQ Delisting, WiSA Given Addt’l 180 Days to Achieve Compliance
WiSA Technologies, Inc. (NASDAQ: WISA), a developer of spatial, wireless sound technology for smart devices and home entertainment systems, announced recently that it has received an additional 180-day extension of the compliance period by the NASDAQ stock market. The purpose of the extension is to give the company additional time, until June 20, 2023, to regain compliance with NASDAQ’s minimum bid rule.
Learn all about a WiSA violation of the NASDAQ rule on minimum bid level
[Read more…] about Facing NASDAQ Delisting, WiSA Given Addt’l 180 Days to Achieve ComplianceVOXX Intl’s Premium Audio Company Says Its COO Has Departed
On Monday, a federal holiday, VOXX International’s Premium Audio Company (PAC) announced that Oscar Bernardo, its Chief Operating Officer, left the company on December 31, 2022. The company says – in this kind of strange, after-the-fact announcement – that Bernardo left to relaunch the Mirage speaker brand. Mirage is owned by VOXX International, which acquired it in 2006.