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Hallo Freunde,

ich werde heute 40 :cry: :cry: :cry:

Ich würde mich freuen, wenn ihr alle spaz.ob (892725) Kaufen würdet. :kiss: :kiss: :kiss:

Das wäre ein nettes Geburtstagsgeschenk. :laugh: :laugh: :laugh:

Ein Kurs von 0,25 Dollarcent wäre OK. :lick: :lick: :lick:

Besucht mich: http://www.alkohol-nee.de

Ein kleiner Scherz. :D :D :D :laugh: :D :laugh: :D :laugh:
Ich schenke Dir einen Hausbesuch der Steuerfahndung !

http://members.aol.com/hoarstmar/Finanz/finanz.htm

:laugh: :laugh: :laugh: :laugh: :laugh: :laugh: :laugh:

Das bin ich aber nicht !

Gruß Barny
Danke hawkhead man wird langsam alt

Die Wilden Jahre sind vorbei :cry: :cry: :cry:
@ 8:

Gibt es von Matchbox nicht !

Nimm doch den:

http://www.matchbox.com/int2/product.asp?lang=de&category_type_id=17&id=12057&category_id=7894

:laugh: :laugh: :laugh:

Gruß Barny
Herzlichen Glückwunsch Narr!
Mehr war leider nicht drin
Last 10 trades
Time Price Volume Exchange Info

09:47:51 0.160 8400 OTCBB

;)Karo
Karo nanu hier in Old Germany haben wir schon über 10 % Plus :cool: :cool:

Kommt setzt noch einen drauf :laugh: :laugh:
Die Wilden Jahre sind vorbei

kann ich nicht bestätigen - ist wohl nur ein kleines Formtief :D - hab mir grad ein paar SPATIALIZER gegönnt und stosse auf Dich an - grüner Tee :lick:
Willkommen im CLUB !!!!

Alles Gute zum 40. !!!!

Gesunheit, Glück und grosse Gewinne mit Spaz !!


;) :kiss: :D

R7
Vielen lieben Dank reiner7

:D :D :D


Mal sehen ob die Spazen mir den gefallen tun werden :confused: :confused: :confused:
was ist denn hier in D schon wieder los? Wird hier schon wieder der nächste Hype gestartet? Ist ja ächt ne nette Pardiie hier

Karo:laugh:
Ich glaub, dass wird heut nichts mehr mit meinem Auto. :cry: :cry: :cry: :cry:

Morgen hat meine Partnerin Geburtstag. :) :) :)

Am Samstag kommt mein Verein vorbei und nächste Woche muss ich Fasten, wenn ich weiter so Fresse. :rolleyes: :rolleyes: :rolleyes:
Aber mal im ernst.

Hier in Old Germany sind sie wieder so heiß gewesen.
Gestern auch schon.
Iss schon seltsam.

Gruß
Rainer
@Katzennarr

:D :D :D HAPPY BIRTHDAY :D :D :D

Die besten Wünsche, auch von mir heute an Dich und für morgen, unbekannterweise für Deine Partnerin gleich mit :cool:

Hier schon mal zu Maßnehmen, auch wenn´s einige Tage länger dauert :



(Wenn meine Tochter nach Ihrem ersten Auto gefragt wird, sagt Sie auch immer: Mercedes, Schwarz, Cabrio ! Und sie ist erst 10 Jahre)

UND dann gilt bei der Aktienauswahl natürlich auch:

"Man muss auch mal nach LINKS und RECHTS sehen wollen"
(ODER: auch andere Mütter haben schöne Töchter, nicht immer nur auf ein Pferd setzen) ;)

HAPPY BIRTHDAY - have a nice time, good trades and a little bit fun !
Rainer mit ai,
und wer hat übermorgen von Euch Geburtstag, die Katze??:laugh:
Entweder es kaufen hier noch einige Nachzügler wg der Empfehlungen des Äktionär und SA oder Spekulation auf die Zahlen oder es ist etwas im Gange. Das hatten wir früher auch schon öfters, dass einige Zeit vor irgendwelchen News in D das Volumen vor den USA anstieg.
WSS Karo
:cool:
Hei BTresearch,

so ein Mercedes sieht auch Geil aus.

Danke, für deine Gratulation, ich werde sie an meine Partnerin weiterleiten.

Das Geld auf verschiedene Aktien zu verteilen ist sinnvoll.
Sollte ich gut aus den spaze rauskommen, werde ich es auch tun.

Haste gesehen, meine HP ist jetzt völlig Werbefrei.
Geil gell.

Gruß
Rainer
Karo, dass ist schon oberauffällig.
Hier in D ein viel höheres Volumen, zu einen sehr hohen Kurs.
:lick:
Irgend was muss da im Busch sein. :rolleyes: :rolleyes:
Danke,

dass Mädel sitzt jetzt drüben und schält die Kartoffeln für den Salat heute Abend.

Ich wollte den Gästen gestern schon vorschlagen, Gleich bei uns zu bleiben.
Hätten Sie Spritgeld gespart. :laugh: :laugh:
Heute wäre doch ein schöner Tag, für eine News. :lick: :lick: :lick:

Von mir aus auch einen Technisch bedingten Kursanstieg. :look: :look: :look:
hi katzennarr
von mir noch nachträglich ALLEs GUTE zum 40-ten.

und SEHR MUTIG von dir
a- die seite
b- das durchhalten
c- die ehrlichkeit

ich mach auch mal wieder ne 4 wochen wasserkur

auch das täglich "kleine" bierchen ist auf die dauer zu viel

mfg
biom
BIOMIRA, meine Offenheit und Ehrlichkeit, ist mein garant dafür, dass ich im Leben weiter komme und stabil bleibe.

Ab und an bekomme ich zwar mit einer Keule einen auf den Kopf, weil manche Menschen gerne, die Schwächen anderer für sich ausnutzen.

Aber nur indem ich Offen und Ehrlich mit meinen Gefühlen und Problemen umgehe, laufe ich nicht gefahr sie in mich hinein zu fressen und womöglich Rückfällig zu werden.
Also, nehme ich es lieber in Kauf manchmal einen auf den Kopf zu bekommen.

Neue Wege kann ich nur gehen, wenn ich genau weiß, was mit mir los ist und was ich brauche.

Zum Glück gibt es aber immer mehr Menschen, die einem helfen, statt einem etwas auf dem Kopf zu hauen.

Lieben Gruß
Rainer
Und zu den Spazen

Ich bin so auf die Spazen fixiert, dass ich erst heute Morgen gesehen habe, dass der Gesamtmarkt am abkacken ist.
wie lange dauert es bis man wirlich SAFE ist ?
ab wann ist man echt gefährdet ???
2 bier am tag
oder 3 gläser rotwein ?
würde mich mal interessieren.
was muß ich machen um mal zu testen ob ich es bin oder nicht ?
laß uns hier diskutieren.
is ja n board und hier sollte man ehrlich sein
es reist einem keiner n kopf ab
mfg
biom ( spaz sieht gut aus )
Yeep, über die Spaze wundere ich mich immer mehr. :confused: :confused: :confused:

Alles geht runter, die Spaze in den USA auch.
Hier in Old Germany gehen die Spaze hoch. :cool: :cool:
Es gibt die unterschiedlichsten Krankheitsbilder, so einfach ist das nicht.
Es gibt den Süchtigen, den Abhängigen, dann gibt es die Spiegeltrinker und Quatalssäufer.
Es gibt den gefährdeten Trinker, der immer an der Schwelle steht.

Süchtig:
Sucht ist eine Krankheit. Macht sich vorallem dadurch erkennbar. Immer mehr haben wollen und dabei Lügen und meistens ein Sozialer Abstieg.

Abhängig:
ist der Weinbauer oder Bierbrauer der jeden Tag sein Gebräu trinkt. Erkennbar, keine Sozialen ausreißer, immer ziemlich das gleiche Trinken. Der hat seine Entzugserscheinungen genauso, wie ein süchtiger.

Man sollte sich überlegen, setzte ich den Stoff ein, um bei mir gezielt etwas zu bewirken. Probleme wegtrinken, oder um lustig zu sein, obwohl man es nicht.

Ich könnte jetzt noch viel sagen. Oft fängt es ganz harmlos an.
Schwere Entzugserscheinungen wirste mit Sicherheit merken.

Die kleinen sind: Unruhe, nicht Konzentrationsfähig, hippelig, usw.
auwaija
ich denke abends öfters dran ( na jetzt n schönes bier oder ein rotwein )
ich bleibe heute aber bei wasser und alkoholfreies bier
BECKS akoholfrei schmeckt sehr gut.

( ich denke es ist so, wenn man nicht mal eine woche ohne alkohol schafft, dann ist es gefährlich )
daher diszipliniere ich mich selbst und zeige mir selbst was los ist.
sehr gefährlich ist das traden.
( hast du ein super trade, dann gibts n grund die rotweinflasche zu öffnen, hast du n schlechten trade, dann spühlt man den verlust runter )

deshalb mach ich immer mal ne "wasser-woche" und wenn es auch mal geht 4 wochen --NULL--
einfach nur um zu sehen ob ich es schaffe
mfg
biom

( heute ist SPAZEN Kauftag )
Nur, weil man mal Bock auf´n Glas hat, iss man noch nicht gleich ein Suchti.

Wenn man nichts mehr nehmen will (Alkohol, Tabletten, Drogen), kommt es nicht darauf an, dass man mal 2- 4 Wochen die Zähne aufeinander beißt.

Neue Erfahrungen machen.
Neue Wege gehen.
Sich anders Belohnen.
Wenn es einem mal schlecht geht, seine Gefühle zu akzeptieren. Sich zu sagen, es sind meine Gefühle und sie gehen auch wieder vorbei. Es kann nur positiv geben, weil es auch negativ gibt.
Seine Gefühle einfach Leben lernen.
Die Gefühle sind ein Teil von mir, ich begrüße jedes Gefühl.

Nur, weil ich fühle, bin ich auch ein lebendiger Mensch.

Leider gibt es in unserer Gesellschaft aber immer Menschen, die andere Menschen ausnutzen, bei deren schwäche.
Davor muss man sich schützen.
Spatializer Audio Laboratories Inc. Reports Fiscal 2003 Operating Results
Wednesday March 17, 6:30 am ET
Fiscal 2003 Marked by Transition of Licensee Base to New Markets and Streamlining of Operations
Overhead Rationalization Targets Break-Even at Q4 2003 Revenue Level


SAN JOSE, Calif., March 17 /PRNewswire-FirstCall/ -- Spatializer Audio Laboratories Inc. (OTC Bulletin Board: SPAZ - News) today reported revenues for the twelve months ended December 31, 2003 of $1,269,000, compared to $1,856,000 in the prior year. Net loss for the year ended December 31, 2003 was ($495,000), or ($0.01) per share, compared to net income of $18,000, or $0.00 per share in the prior year.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010525/LAF026LOGO )
Revenues for the fourth quarter ended December 31, 2003 were $345,000, compared to $464,000 in the prior year. Spatializer reported a net loss of ($102,000), ($0.00) per share, for the three months ended December 31, 2003, compared to net loss of ($17,000), ($0.00) per share, in the prior year.

Spatializer working capital at December 31, 2003 was $793,000 compared with working capital of $1,125,000 at December 31, 2002. At December 31, 2003, Spatializer had $590,000 in cash and cash equivalents, compared to $859,000 at December 31, 2002.

The decrease in revenues is attributed primarily to the loss or reduction at three key accounts which generated in excess of 20% of total revenue each, partially offset by revenue from a new account. The first lost account was in the PC market, where the customer completed its migration to a new operating system in which it chose not to include any software audio enhancements. The other two accounts were in the DVD player market, where a lower cost solution, or no solutions were selected for low cost, high volume DVD players.

"Fiscal 2003 was a transition year for us," explained Henry R. Mandell, Chairman and CEO of Spatializer Audio Laboratories, Inc. "In 2003, we experienced declining revenues from three major customers, primarily from the curtailment or cessation of use of our products by these customers. Two of these cases were in the DVD player market, where we have been historically strong. During 2003, the DVD player market became largely commoditized, resulting in intense pricing pressure and a steep decline in price and margins. Manufacturers were forced to strip out features, such as those offered by our company, in order to compete. One of these accounts switched to outside sourcing and we were able to expand our relationship with their supplier to recapture most of that revenue. However, a major new design win we were projecting for the DVD market was cancelled due to these cost constraints. Lastly, another PC account migrated completely in 2003 to a new operating system and chose not to include any audio software enhancements."

"To lessen competitive pressures on us, we laid the ground work in 2003 to transition the Company into other growing markets where we believe our value proposition is both resonant and adoption of our technologies more feasible," continued Mr. Mandell. "We developed our new Spatializer ((environ))(TM) technology to serve the cellular telephone market, which culminated in our first design win in that market with Sanyo for the Vodafone system. We also developed Spatializer Audio Alchemy(TM) , a new class of noise reduction technology to address the needs of the digital camcorder, digital camera and DVD authoring markets. We rolled out the new Spatializer Ultra HD(TM) class of whole product solutions to penetrate the digital mobile audio, DVD-R, digital television and PC markets. More importantly, we are awaiting the announcement of new design wins in these markets as documentation is finalized and the related licensee product nears launch."

Mandell concluded, "Such a transition as we have undertaken is not easily accomplished, yet we are beginning to see positive results. To help ensure further positive results and to reduce the financial disruption such a transition entails, we completed a streamlining of our operations in the fourth quarter of 2003 that we expect to result in a 25% reduction in our cost of doing business. This streamlining included a comprehensive overhaul of our domestic and international sales organization and the relocation of our corporate office to lower cost facilities. On a going forward basis, our operating costs have been restructured to deliver a lower break-even level, such that we currently believe profitable operations can be achieved at slightly below Q4 2003 revenue levels. The result of these initiatives is greater bottom line leverage as we look to successfully complete the transition to and further penetrate these more attractive markets."

About Spatializer

Spatializer Audio Laboratories Inc. is a leading developer, licensor and marketer of next-generation technologies for the consumer electronics, computing and entertainment industries. The company`s advanced audio technology is incorporated into consumer electronics audio and video products from global brand leaders including Toshiba, Samsung and Sharp, among others. Spatializer stock is traded on the OTC Bulletin Board under the symbol: SPAZ. The company is headquartered in San Jose, CA, with executive offices in Westlake Village, CA and representative offices throughout Japan and in Korea. Further information may be obtained from the company`s web site, www.spatializer.com, Spatializer`s SEC filings, and by contacting the company`s Investor Relations Department at 408-453-4180 or by writing to investor@spatializer.com.

Safe Harbor Act Statement Under the Private Securities Litigation Reform Act of 1995: Certain information in this background news release, including the comments by Mr. Mandell in this press release are forward looking statements that are based on management`s belief, as well as assumptions made by, and information currently available to management. While the company believes that its expectations are based upon reasonable assumptions, there can be no assurances that the company`s financial goals will be realized. Numerous uncertainties and risk factors may affect the company`s actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of the company. These uncertainties and risk factors include, but are not limited to the continued need for additional capital, dependence on new technology and intellectual property, dependence on the PC and consumer electronics industries, dependence on product shipments of third-party licensees, dependence on third-party technology integrators or chip suppliers, competition and pricing pressures, and other risks detailed from time to time in the company`s periodic reports filed with the Securities and Exchange Commission.

NOTE: Desper Products Inc. is a wholly owned subsidiary of Spatializer Audio Laboratories Inc. Spatializer® is a registered trademark and Spatializer ((environ))(TM), Spatializer Audio Alchemy(TM) and Spatializer UltraMobile HD(TM) are trademarks of Desper Products Inc. All other trademarks are the property of their respective owners.

SPATIALIZER AUDIO LABORATORIES, INC.
AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

ASSETS


December 31, December 31,
2003 2002
Current Assets:
Cash and Cash Equivalents $589,797 $858,725
Accounts Receivable 345,411 499,023
Prepaid Expenses and Other Current Assets 35,430 82,920
Total Current Assets 970,638 1,440,668
Property and Equipment, Net 42,022 70,842
Intangible Assets, Net 192,485 225,859
Other Assets -- 8,471
$1,205,145 $1,745,840

LIABILITIES AND STOCKHOLDERS` EQUITY

Current Liabilities:
Notes Payable to Related Party, Short Term 37,500 112,500
Accounts Payable 21,466 39,027
Accrued Wages and Benefits 36,973 108,771
Accrued Professional Fees 20,000 --
Accrued Commissions 33,856 --
Accrued Expenses 28,197 55,682
Total Current Liabilities 177,992 315,980
Notes Payable to Related Party, Long Term 70,746 --

Commitments and Contingencies
Series B-1 Redeemable Convertible Preferred
Shares, $0.01 par value: 1,000,000 shares
authorized; 102,762 shares issued and
outstanding at December 31, 2003
(liquidation preference of $1,027,620) 1,028 1,028
Stockholders` Equity (Deficit):
10% Series B Convertible Preferred
Shares $0.01 par value 1,000,000 shares
authorized; 87,967 converted to Series B-1
Common shares, $0.01 par value; 65,000,000
shares authorized; 47,015,865 and
47,406,939 shares issued and outstanding
at December 31, 2003 and 2002,
respectively 470,159 474,070
Additional Paid-In Capital 46,428,615 46,402,704
Accumulated Deficit (45,943,395) (45,447,942)
Total Shareholders` Equity 955,379 1,428,832
$1,205,145 $1,745,840



SPATIALIZER AUDIO LABORATORIES, INC.
AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended December 31,
2003 2002 2001
Revenues:
Product Revenues, Net
Licensing Revenues
Royalty Revenues $1,269,286 $1,855,934 $1,603,782
1,269,286 1,855,934 1,603,782
Cost of Revenues 122,417 130,516 96,783
1,146,869 1,725,418 1,506,999
Operating Expenses:
General and Administrative 811,024 765,637 707,115
Research and Development 458,940 432,826 639,223
Sales and Marketing 360,692 512,727 476,432
1,630,656 1,711,190 1,822,770
Operating Income (Loss) (483,787) 14,228 (315,771)
Interest Income 7,201 12,432 41,358
Interest Expense (13,447) (14,493) (11,250)
Other Income (Expense), Net 0 25 42,691
(6,246) (2,036) 72,799
Income (Loss) Before
Income Taxes (490,033) 12,192 (242,972)
Income Taxes (5,420) (6,100) 2,865
Net Income (Loss) $(495,453) $18,292 $(240,107)
Basic and Diluted Income
(Loss) per Share: $(.01) $.00 $(.01)
Weighted-Average Shares
Outstanding 47,309,171 47,406,939 47,247,455




--------------------------------------------------------------------------------
Source: Spatializer Audio Laboratories Inc.
Vielleicht warten alle erst mal was passiert nach den Zahlen und wenn jetzt keiner verkäuft wäre das ein Grund zum Kaufen.
Und der Kurs würde hoch gehen.
Press Release Source: Spatializer Audio Laboratories Inc.

Spatializer Audio Laboratories to Showcase Cellular Telephone and Mobile Entertainment Solutions at CTIA Wireless 2004
Thursday March 18, 6:30 am ET
Spatializer ((environ)), Spatializer Audio Alchemy and Spatializer UltraMobile HD Whole Product Solutions for Cellular Telephone, Mobile Applications and Portable Multimedia Players Produce Extraordinary Ring Tones and Multimedia Playback through Headphones or Speakers

weiter:
http://biz.yahoo.com/prnews/040318/sfth003_1.html
Nicht schlecht...

Sanyo and Vodafone were early adopters of our Spatializer ((environ))(TM) technology as they recognized the unparalleled audio quality to footprint ratio that our technologies provide. Spatializer offers a wide array of off-the-shelf solutions to the challenges these manufacturers face in converging entertainment and communication capabilities," Mandell continued.
lt chart ist spaz stark >>>über "ver" kauft
macd unter -0,05
das dürfte ein rebound werden
Hallo Biomira,
was verstehst Du unter rebound ?

Oder was willst Du uns damit mitteilen?

:confused: :lick:

R7

P.S. Bis jetzt haben meine Vorhersagen genau ins Schwarze
getroffen. Stimmts @ all ?!
:D
1. rebound durch den über--ver--kauften chart
2. am 22.03. die vorstellung lt. letzter news
3. ich glaube frick pusht SPAZ auf N-TV
da ist son spruch
100% bis 22.03.

wäre nett wenn er SPAZ meint
die umsätze in frankfurt sind gering aber der kurs bei 0,12 deutet auf interesse aus deutschland hin.
mfg
biom
Wettlauf um die mobile Glotze

Schon bald sollen Handys mit TV-Empfang auf den Markt kommen. Japanische Konzerne testen erste Prototypen.

Morio Matsudaira, mausgraue Firmenuniform mit Reißverschluss, weiße Socken und schwarze Sandalen, sieht nicht aus wie einer, der die Japaner auf die nächste Stufe der Handy-Revolution hieven könnte. Doch von beharrlichen Tüftlern wie dem 54-jährigen Ingenieur des Elektronikherstellers Sanyo hängt ab, ob seine Landsleute demnächst auf ihren Mobiltelefonen auch Fernsehen gucken können.



AP
TV-Handy-Prototyp: Fehlende Standards
Schon heute verfügen einige japanische Handys über TV-Empfang, dabei werden jedoch nur klassische analoge Signale in Fernsehbilder umgewandelt. Das Sehvergnügen beim oft verrauschten Mäusekino hält sich arg in Grenzen.

Nun setzt die Branche auf die nächste Generation des Fernsehens, mit knackigeren digitalen Bildern und allerlei interaktiven Zusatzdiensten. Neuerdings wird in japanischen Großstädten teilweise terrestrisches Digital-TV ausgestrahlt, ähnlich wie hier zu Lande in Berlin; von einer flächendeckenden Versorgung ist man allerdings noch weit entfernt.

Das soll sich in diesem Jahr schlagartig ändern. Dann wird ein Satellit der "Mobile Broadcasting Corporation" auf Sendung gehen, der das ganze Land mit einem abgespeckten Fernsehprogramm bestrahlt, das speziell für die Stummelantennen der kleinen Mobilempfänger ausgelegt ist.

Im Vorgriff auf den neuen TV-Satelliten legte Sanyo unlängst den Prototyp eines digitalen TV-Handys vor; aber bis zur Marktreife des Geräts müssen Matsudaira und sein Team noch einige Hürden überwinden.

Die größte Schwierigkeit: Industrie, Mobilfunkbetreiber und Fernsehanstalten konnten sich in Japan bislang nicht auf einen gemeinsamen digitalen Standard einigen, um TV-Bilder für Handys zu komprimieren. Matsudaira und seinen Leuten ergeht es folglich - ähnlich wie ihren Konkurrenten bei Nokia, Samsung und NEC, die ebenfalls unter Hochdruck TV-Handys entwickeln - wie Athleten, die beim Wettlauf um die mobile Glotze noch nicht wissen, in welcher Disziplin sie antreten müssen.

Also wappnen sie sich mit Blick auf den bevorstehenden Satellitenstart für alle Fälle. Im Entwicklungslabor in Osaka zeigt Matsudaira stolz Sanyos Prototyp: Er sieht so elegant aus wie ein normales Handy, besitzt aber zusätzlich eine unscheinbare TV-Antenne.

Die größte Herausforderung für die Sanyo-Ingenieure: Bislang bietet das TV-Handy nur eine Betriebszeit von 90 Minuten, ein Konkurrenzmodell von NEC gar nur von etwa 60 Minuten - damit reicht der Handy-Akku bisher nicht einmal aus, um ein Fußballspiel zu Ende zu schauen.

Nachts streift der Ingenieur mit seinem TV-Handy-Prototyp durch die Straßen von Osaka.

Umgeben von Zubehör und Computern arbeitet Matsudairas Team fieberhaft daran, den Stromverbrauch des Handys zu drücken, damit genug Energie zum Telefonieren übrig bleibt. Den Fernseh-Tuner haben sie schon auf Briefmarkenformat gestutzt. Aber das TV-Handy soll noch stromsparender werden; am Ende soll die Batterie drei Stunden lang durchhalten.

Früher entwickelte Matsudaira für Sanyo ganz normale Fernseher; und er ist davon überzeugt, dass die Nutzer von TV-Handys ebenso perfekte Empfangsqualität erwarten wie von ihren häuslichen Glotzen.

Nachts, wenn bereits digitale TV-Testprogramme für Handys ausgestrahlt werden, streift Matsudaira in diesen Wochen mit seinem TV-Handy-Prototyp durch die Straßen von Osaka. Einen absolut stabilen TV-Empfang - etwa im fahrenden Auto - konnte der Sanyo-Mann bisher nicht überall messen.

Solche Widrigkeiten spornen die Handy-Pioniere nur an. Das gilt auch für Akira Kato, 51, von NEC. In einem streng bewachten Labor in Yokohama feilt sein Team am Konkurrenzmodell. Zum Schutz von Firmengeheimnissen empfängt der Entwickler Besucher nur in der NEC-Zentrale in Tokio. Das NEC-Hochhaus ist einer Rakete nachgebaut - und ähnlich hochfliegend sind auch Katos Erwartungen an die zukünftigen TV-Handys.

Mit interaktiven TV-Programmen wie Tele-Shopping sollen die mobilen Fernseher vor allem die Jugend begeistern. Kato glaubt, dass Handy-Nutzer meist nur einige Minuten fernsehen werden - etwa beim Warten auf den nächsten Zug.

Vor allem an Orten wie Bahnhöfen oder Flughäfen dürften stabile TV-Bilder schon bald zu empfangen sein. Nur unterwegs wird der Empfang wohl vorerst schwierig bleiben. Anders als analoge TV-Geräte flimmern Digital-Handys bei gestörtem Empfang nicht. "Der Bildschirm", sagt Kato, "wird dann plötzlich einfach nur schwarz."
Es wäre langsam an der Zeit, dass wir mal wieder ein dickes Plus sehen. :D :D :D
USA 250 Stück umsatz, dass isses noch nicht. :rolleyes: :rolleyes:

Mühsam ernährt sich das Eichörnchen. :p :p

Die sollen mal Luft uffs Kärnchen machen. :cool: :cool:
Aaahhh, jetzt tut sich watt. :rolleyes:

0,14 und das Ask geht uff 0,15, wenigstens etwas. :p
He hawkhead ,

meine Bilder sind aber von mir Selbst gemacht. :p :p

Zu sehen auf http://www.alkohol-nee.de

Muss mal ein bißchen Werbung machen, für meine geilen Naturaufnahmen.:D
Nix Sorry, beim nächsten mal holst du dir gefälligst Bilder von meiner HP. :D :D :D
Ich habe auch einen Kaktus
Wer in größer sehen will, der muss auf meine HP.

Es ist wie beim Sex, es kommt nicht auf die größe an, sondern auf die (Chart)Technik. :D :D :D :D :D :D

:D :D :D
hawkhead bist du eigentlich auch am Arbeiten oder hängst du nur im Internet rum. :laugh: :laugh: :laugh:
:laugh: :laugh:
Die MM´s bei den Spaze haben bestimmt schon Feierabend gemacht.
#75 war auf #71
#72: :yawn:
#73: deshalb hab ich ja seit Neuestem SPATIALIZER AUDIO LABORATORIES, INC.
#74: ich hab nie Feierabend :cry: ob´s daran liegt, dass ich nie arbeite? :confused:
Es ist doch zum Heulen :cry: :cry: :cry: :cry: :cry: alles sieht so gut aus :look: :look: :look:
:lick: :lick: Chart in Ordnung und vor allem in die Indikatoren :rolleyes: :rolleyes:
:confused: :confused: :confused: aber es geht nicht hoch :confused: :confused:

:cool: :cool: :cool: naja, bei den Spazen ist Anfang der Woche immer die beste Zeit :D :D :D

:cool: :cool: :cool: schau ma mal am Montag :D :D :D

:laugh: :laugh: :laugh: vielleicht können wir dann Lachen :laugh: :laugh: :laugh: :laugh:

:laugh: :laugh: :laugh: :laugh:
hi:)

diese woche fängt ja gut an, hat der Spaz gesagt, als
ihn die Katze auf dem baum hochgetragen hat:D

ciao
:D :D :D :D "jetzt gehts rund", sprach der Spatz und flog in den Ventilator. :laugh: :laugh: :laugh: :laugh:
:laugh: :laugh: :laugh:
Press Release Source:
Spatializer Audio Laboratories Inc.
Monday March 22, 6:30 am ET

Spatializer Audio Laboratories Announces the Availability of Spatializer ((environ)) Digital at CTIA Wireless 2004

Spatializer ((environ)) Now Available as a Digital Software Implementation for all Leading Third Generation Cell Phone Processors and Real Time Operating Systems

weiter:
http://biz.yahoo.com/prnews/040322/sfm010_1.html
zur Besinnung:

Hätten die Katzen Flügel, wären die Spatzen seltene Vögel.
Sorbisches Sprichwort
:eek:

Roß und Spatz. Ein Gleichnis für viele:
Des einen Kot ist des andern Brot.


Waltraud Puzicha
(*1925), deutsche Aphoristikerin in »Kurz belichtet« Klappe 1, erschienen im Hirzel-Verlag, Stuttgart
hawkhead

die News hätte zeitlich nicht besser rauskommen können.
:laugh: :laugh: :laugh: :laugh:

Hast du deine spaze nochmal aufgestockt. ???
leider hat´s nur zum lausigen Sprüche-Kopierer gereicht :cry:

Es ist besser ein junger Spatz zu sein als ein alter Paradiesvogel.
Mark Twain (1835 - 1910)
Was issen jetzt los :confused: :confused:

Die sollen mal Luft uff´s Kärnchen machen. :cool: :cool:

Ich will jetzt einen steigenden Kurs. :laugh: :laugh: :laugh:
Form 10-K for SPATIALIZER AUDIO LABORATORIES INC


--------------------------------------------------------------------------------

22-Mar-2004

Annual Report


Item 7. Management`s Discussion and Analysis of Financial Condition and Results of Operations of Operations
Approach to MD&A

The purpose of MD&A is to provide our shareholders and other interested parties with information necessary to gain an understanding of our financial condition, changes in financial condition and results of operations. As such, we seek to satisfy three principal objectives:

• to provide a narrative explanation of a company`s financial

statements that enables investors to see the company through the
eyes of management;

• to enhance the overall financial disclosure and provide the context
within which financial information should be analyzed; and

• to provide information about the quality of, and potential
variability of, a company`s earnings and cash flow, so that
investors can ascertain the likelihood that past performance is
indicative of future performance.

We believe the best way to achieve this is to give the reader:



• An understanding of our operating environment

• An outline of critical accounting policies

• A review of the key components of the financial statements and our
cash position and capital resources

• Disclosure on our internal controls and procedures



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Operating Environment

We operate in a very competitive business environment. This environment impacts us in the following ways, further discussed in greater detail under Risk Factors:

• We Face Significant Pricing Pressure and Competition that can

Result in Our Technology Being Designed Out Within a Short Time
Frame, or Impeding Efforts to Secure New Design Wins

• New Customer Product Development Can be Delayed. This Results in
Delays In Revenues. Further, Where our Products are Delayed,
Competitive Products May Reach The Market Before, or Replace Our
Products.

• We Rely on the Schedules and Cooperation of Chip Makers or Other Third Parties to Deliver Our Technology in Consumer Products. These
Third parties Have Their Own Priorities and Alliances that May
Delay or Thwart our Sales Efforts to Potential Customers.



The PC and consumer electronics markets are under intense pressure,
primarily from retailers, to reduce selling prices, with resultant
pressure to reduce costs. Cost reductions are driven by lower cost
sourcing, often in China, design simplification and reduction in
features. While we present a value proposition that stresses the cost
reducing capabilities of our audio solutions through improved
performance from lower cost components as well as product
differentiation that Spatializer technology can deliver, all such
features are closely scrutinized by potential customers` product
marketing and engineering. This makes it more challenging to secure new
design wins, particularly in product categories that have become
commoditized, such as the case with DVD players. It also may result in
the elimination of features, including ours, if cost is of paramount
importance. When this occurs, we receive very short notice and revenues
from such an account will typically begin a steep decline in the
subsequent quarter, resulting in period-to-period fluctuation. Our
response has been to strengthen our value proposition, more
aggressively price and feature enrich our products and enter new
segments, such as cell phones, with different competitive pressure.


Manufacturer`s design-in cycles for our technology range from four to

twelve months, from the decision to adopt our technology to actual
cashflow. These schedules are also prone to delays at the manufacturer
level and in some cases, manufacturer`s new products may be cancelled
due to market testing or resource allocation. Since these events are
beyond our control, it is difficult to absolutely project when new
deals will begin generating revenues or if signed deals will generate
financial results. For this reason, we do not typically announce new
deals until the target product is being introduced.

Spatializer does not develop or market semiconductors. That is why we
carry no inventory or have order backlogs that typically are good
indicators of near term performance. Rather, we develop audio
algorithms that are embedded on third party processors or
semiconductors used by our customers. While our algorithms are
implemented on a wide array of processors, often times a customer uses
a processor where there is no such implementation, or where a
competing solution has been implemented. In this case, our customers
request that our algorithm be implemented. While these requests are
typically honored, processor manufacturers must schedule such
implementation as their resources or corporate strategies allow.
Therefore, the supply-chain is often quite long and complicated, which
potentially can result in delays or deadlines that may not always
coincide with our customer`s requirements and which are beyond the
control of our company.


Therefore, when reviewing the operating results or drawing conclusions

with regard to future performance, these competitive forces and
uncertainties must be taken into consideration. Without absolute
long-term visibility, it is difficult to draw such conclusions in
absolute terms. Further, the dynamic nature of the business
environment creates the potential for both positive and negative
fluctuations in near and long term operating performance. While
management strives to mitigate these risks, as outlined in Risk
Factors, it is not possible to be fully immune from such dynamics.

Critical Accounting Policies

Our discussion and analysis of our financial condition and results of operations are based upon our consolidated statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. In consultation with our Board of Directors and Audit Committee, we have identified three accounting policies that we believe are critical to an understanding of our financial statements. These are important accounting policies that require management`s most difficult, subjective judgments.

The first critical accounting policy relates to revenue recognition. We recognize revenue from product sales upon shipment to the customer. License revenues are recognized when earned, in accordance with the contractual provisions. Royalty revenues are



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recognized upon shipment of products incorporating the related technology by the original equipment manufacturers (OEMs) and foundries.

The second critical accounting policy relates to research and development expenses. We expense all research and development expenses as incurred. Costs incurred to establish the technological feasibility of our algorithms (which is the primary component of our licensing) is expensed as incurred and included in Research and Development expenses. Such algorithms are refined based on customer requirements and licensed for inclusion in the customer`s specific product. There are no production costs to capitalize as defined in Statement on Financial Accounting Standards No. 86.

The third critical accounting policy relates to intangible assets. Our intangible assets consist primarily of patents. We capitalize all costs directly attributable to patents, consisting primarily of legal and filing fees, and amortize such costs over the remaining life of the patent (which range from 3 to 20 years) using the straight-line method. In accordance with SFAS 142, "Goodwill and Other Intangible Assets", only intangible assets with definite lives are amortized. Non-amortized intangible assets are instead subject to annual impairment testing.

Audit Committee

This committee is directed to review the scope, cost and results of the independent audit of our books and records, the results of the annual audit with management and the internal auditors and the adequacy of our accounting, financial, and operating controls; to recommend annually to the Board of Directors the selection of the independent auditors; to approve proposals made by our independent auditors for consulting work; and to report to the Board of Directors, when so requested, on any accounting of financial matters.

Compensation and Stock Committee

Our Compensation and Stock Option Committee (the "Compensation Committee") currently consists of Messrs. Pace and Segel, each of whom is a non-employee director of the Company and a "disinterested person" with respect to the plans administered by such committee, as such term is defined in Rule 16b-3 adopted under the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (collectively, the "Exchange Act"). The Compensation Committee reviews and approves annual salaries, bonuses and other forms and items of compensation for our senior officers and employees. Except for plans that are, in accordance with their terms or as required by law, administered by the Board of Directors or another particularly designated group, the Compensation Committee also administers and implements all of our stock option and other stock-based and equity-based benefit plans (including performance-based plans), recommends changes or additions to those plans or awards under the plans.

Results of Operations

The following discussion and analysis relates to our financial condition and results of operations for the year ended December 31, 2003 compared to the year ended December 31, 2002, and the year ended December 31, 2002 compared to the year ended December 31, 2001. The following discussion of the financial condition and results of operations should be read in conjunction with the Consolidated Financial Statements and Notes thereto included elsewhere in this report.

For the Year Ended December 31, 2003, Compared to the Year Ended December 31,

Revenues

Revenues decreased to $1,269,000 for the year ended December 31, 2003 compared to $1,856,000 for the year ended December 31, 2002, a decrease of 32%. Revenues are almost entirely comprised royalties pertaining to the licensing of Spatializer® audio signal processing algorithms.

The decrease in revenues is attributed primarily to the loss or reduction at two key accounts which generated in excess of 20% of total revenue each, partially offset by revenue from a new account. The first lost account was in the PC market, which completed its migration to a new operating system in which it chose not to include any software audio enhancements. The second account was in the DVD player market, where it selected a lower cost solution for its low cost, high volume DVD players.



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Gross Profit

Gross profit decreased to $1,147,000 for the year ended December 31, 2003 compared to $1,725,000 in the comparable period last year, a decrease of 34%. Gross margin decreased to 90% of revenue in the year ended December 31, 2003 compared with 93% of revenue for the comparable period last year. The decrease in gross profit results from lower revenues in the current year and from lower gross margin. The decrease in the gross margin percentage reflects a change in mix to commissionable foreign royalty revenue compared to non-commissionable U.S. sourced revenue. We maintain a high margin since revenues are from licensing and royalty activities, which have little or no associated direct manufacturing or selling costs other than commissions paid to our independent representatives that solicit and oversee the particular accounts.

Operating Expenses

Operating expenses for the year ended December 31, 2003 decreased to $1,631,000 (128% of sales) from $1,711,000 (92% of sales) for the year ended December 31, 2002, a decrease of 5%. The decrease in operating expenses results primarily from reductions in sales and marketing due to the elimination of a marketing and business development executive position and related travel. These responsibilities were transferred to another executive and to a new representative firm in Japan.

In the fourth quarter of fiscal 2003, we implemented a cost reduction program that included the elimination of an executive position, relocation of the corporate offices to smaller and lower cost facilities, replacement of a stipended representative with a commissioned representative and other overhead related cost savings. The annualized reduction to be provided by these initiatives are expected to result in an overall overhead reduction of at least 20%.

General and Administrative

General and administrative costs increased to $811,000 for the year ended December 31, 2003 from $766,000 for the year ended December 31, 2002, an increase of 6%. The increase is primarily due to increased legal expenses related to public filings, in part in response to the additional requirements imposed on public companies by the Sarbanes-Oxley Act, and increased travel by the CEO. General operating costs include rent, telephone, legal, public filing, office supplies and stationery, postage, depreciation and similar costs.

Research and Development

Research and Development costs increased to $459,000 for the year ended December 31, 2003, compared to $433,000 for the year ended December 31, 2002, an increase of 6%. The increase in research and development expense was due strategic use of outside specialist consultants, wage increases and increased health insurance premiums for such personnel.

We continued efforts to identify, validate, and develop new product ideas at DPI. Specific engineering efforts were directed toward the launch of Spatializer Audio Alchemy, refinement of Spatializer Natural Headphone, development of the HD Series of whole product solutions and applications engineering to port our technology to leading processor platforms.

Sales and Marketing

Sales and Marketing costs decreased to $361,000 for the year ended December 31, 2003, compared to $513,000 for the year ended December 31, 2002, a decrease of 30%. The reduction in such expenses resulted from the elimination of a sales consultant position, the elimination of a sales executive position in the third quarter of 2003 and fewer trade show participations.

Net Income (Loss)

Net loss was $495,000 for the year ended December 31, 2003, ($0.01) basic per share, compared to net income of $18,000, ($0.00) per share basic and diluted, for the year ended December 31, 2002. Net loss for the current period is primarily the result of lower gross margin, partially offset by lower overhead.



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For the Year Ended December 31, 2002, Compared to the Year Ended December 31,

Revenues

Revenues increased to $1,856,000 for the year ended December 31, 2002 compared to $1,604,000 for the year ended December 31, 2001, an increase of 16%. Revenues are almost entirely comprised royalties pertaining to the licensing of Spatializer® audio signal processing algorithms.

The increase in revenues is attributed primarily to the addition of two new accounts which generated in excess of 10% of total revenue each, partially offset by declining royalties on declining analog chip sales from another account.

Gross Profit

Gross profit increased to $1,725,000 for the year ended December 31, 2002 compared to $1,507,000 in the comparable period last year, an increase of 14%. Gross margin decreased to 93% of revenue in the year ended December 31, 2002 compared with 94% of revenue for the comparable period last year. The increase in gross profit results from higher revenues in the current year, partially offset by slightly lower gross margin. This decrease in the gross margin percentage reflects a slight change in mix to commissionable foreign royalty revenue compared to non-commissionable U.S. sourced revenue. We maintain a high margin since revenues are from licensing and royalty activities, which have little or no associated direct manufacturing or selling costs other than commissions paid to our independent representatives that solicit and oversee the particular accounts.

Operating Expenses

Operating expenses for the year ended December 31, 2002 decreased to $1,711,000 (92% of sales) from $1,823,000 (114% of sales) for the year ended December 31, 2001, a decrease of 6%. The decrease in operating expenses results primarily from completion of various outside engineering consulting projects in 2001 for which we paid outside engineering fees. In 2002, a much greater level of applications engineering projects were either done in house or by our licensed distributors and the fees incurred for such work was significantly reduced over the prior year. However, levels of pure R&D were unchanged between the two years, as reflected by the level of new product introductions.

General and Administrative

General and administrative costs increased to $766,000 for the year ended December 31, 2002 from $707,000 for the year ended December 31, 2001, an increase of 9%. The increase is primarily due to increased legal expenses related to public filings and increased travel by the CEO. General operating costs include rent, telephone, legal, public filing, office supplies and stationery, postage, depreciation and similar costs.

Research and Development

Research and Development costs decreased to $433,000 for the year ended December 31, 2002, compared to $639,000 for the year ended December 31, 2001, a decrease of 32%. The decrease in research and development expense was due completion of various outside engineering consulting projects in 2001 for which we paid outside engineering fees. In 2002, a much greater level of applications engineering projects were either done in house or by our licensed distributors and as such, the fees incurred for such work were significantly reduced over the prior year. However, levels of pure R&D were unchanged between the two years, as reflected by the level of new product introductions.

We continued efforts to identify, validate, and develop new product ideas at DPI. Specific engineering efforts were directed toward the launch of encompass AV™ , development of Spatializer Audio Alchemy™, refinement of Spatializer Natural Headphone™ and applications engineering to port our technology to leading processor platforms.

Sales and Marketing

Sales and Marketing costs increased to $513,000 for the year ended December 31, 2002, compared to $476,000 for the year ended December 31, 2001, an increase of 8%. Spending was increase in the area of foreign travel, where the Asian customer visitation frequency was doubled in the second half of 2002.



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Net Income (Loss)

Net Income was $18,000 for the year ended December 31, 2002, compared to net loss of $240,000 for the year ended December 31, 2001. Net Income for the current period is primarily the result of higher revenues and improved overhead management.

Liquidity and Capital Resources

At December 31, 2003, we had $590,000 in cash and cash equivalents as compared to $859,000 at December 31, 2002. The decrease in cash and cash equivalents is attributed to the operating loss. We had working capital of $793,000 at December 31, 2003 as compared with working capital of $1,125,000 at December 31, 2002.

Net cash used in operating activities was $253,965 for the year ended December 31, 2003, as compared to net cash provided by operating activities of $85,138 for the year ended December 31, 2002 and net cash used in operating activities of $339,675 for the year ended December 31, 2001. The decrease in cash flows from operations for the year ended December 31, 2003 was primarily a result of decreases in net income in 2003. Accounts receivable decreased $153,612 for the year ended December 31, 2003, due to year over year decline in sales and resulting collections

We use cash in investing activities primarily to secure patent and trademark protection for our proprietary technology and brand name, and to purchase short-term investments such as bank certificates of deposit. Cash used in investing activities totaled $20,709, $95,891 and $34,593, respectively, in the years ended December 31, 2003, 2002, and 2001. The decrease in cash used in investing activities during for the year ended December 31, 2003 is the result of curtailment of capital expenditures. All expenditures for on-going research and development are expenses and therefore included in the Net Loss.

Net cash flows provided by financing activities totaled $5,746 for the year ended December 31, 2003 and cash used in financing activities totaled $0 and $224,242 for the years ended December 31, 2002 and 2001, respectively.

In November 2002, the Board of Directors and the holders of our previously outstanding Series B Preferred Stock agreed to exchange the Series B Preferred Stock for a new Series B-1 Preferred Stock, which are convertible commencing in December 2005 into restricted Common Stock at a 10% discount, based on the 10 day average closing bid price prior to the conversion, but subject to a minimum conversion of $.56 per share and a maximum of $1.12 per share. The exchange was completed in December 2002. In connection with the exchange the Series B-1 Preferred Stock, we withdrew the Series A and Series B Preferred Stock and, therefore, currently the Series B-1 Preferred Stock is our only authorized or outstanding class of preferred stock.

In the fourth quarter of 2003, we negotiated and completed the conversion of a $112,500 related party 10% demand note to a three-year 10% term note. Principal and interest of $5,191 is paid monthly, which we pay on a current basis. Installments due in more than twelve months are classified as Notes Payable to Related Parties-long-term.

We continue to maintain an accrual for unasserted claims or settlement costs of approximately $28,000. We do not expect any final liability to be in excess of this balance.

Future payments due under operating lease obligations as of December 31, 2003 are described below:



Payments due by period
-------------------------------------------------------------------------------
Less than More than
Contractual obligations Total 1 year 1-3 years 3-5 years 5 years
------------------------------------------- --------------- ------------- ------------- ----------- -----------
[Long-Term Debt Obligations] $ 108,246 $ 37,500 $ 70,746
[Capital Lease Obligations]
[Operating Lease Obligations] $ 22,000 $ 22,000
[Purchase Obligations]
[Other Long-Term Liabilities Reflected on
the Registrant`s Balance Sheet under GAAP]
Total $ 130,246 $ 59,500 $ 70,746



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Our future cash flow will come primarily from the audio signal processing licensing, OEM royalties and from possible common stock issuances including warrants and options. We are actively engaged in negotiations for additional audio signal processing licensing arrangements which we believe should generate additional cash flow without imposing any substantial costs on us. We anticipate that there may continue to be dislocations of individual licensing programs due to continuing pressure to reduce costs, particularly in the DVD player segment. We currently believe that growth from other licensing arrangements, which include new markets such as cellular phones, and other arrangements that are pending but not announced or in negotiation, will substantially offset any revenue shortfalls from market dynamics or transitioning platforms. Further, we anticipate that our cost reduction initiative implemented in the fourth quarter of 2003 will lower the revenues needed to reach the break-even point.

The fluid, competitive and dynamic nature of the market continues a degree of uncertainty to our operations. The operations of our business, and those of our competitors, may also be impacted by the continued trend in the semiconductor industry to offer free, but minimal audio solutions to certain product classes to maintain and attract market share. This challenges our ability to convert business opportunities to licensing agreements in those segments that allow us to maintain or rapidly increase revenue. As a result, we must develop and license its products and software solutions in a market that treats some audio products, including those of our competitors, on a commodity basis in those cases where the OEM product is considered a commodity product. While our software applications deliver what we and most manufacturers who listen to it believe is a significantly superior audio experience, the competitive market forces that pressure manufacturers to reduce their costs may create some resistance to new technology adoption or use. In addition, certain of our competitors appear to be pursuing a business plan that disregards commercially reasonable pricing to achieve a larger market penetration even if the penetration will not provide for viable margins or returns. We have responded by offering additional products targeted to each price/quality segment of the market and continues to aggressively pursue new opportunities in emerging product categories such as cellular phones and notebook computers that complements our existing core business. In addition, our products have been positioned as a means for manufacturers to save money while delivering an enhanced audio experience. Nevertheless, these market conditions and competitive forces make it more challenging for us, and our rational commercial competitors, to enhance their operating results.

To the extent we maintain or exceed our projected revenues and are not required to fund significant contingencies, we expect to continue to retain our current cash reserves and therefore, maintain our liquidity position at a consistent level both on a short-term and long-term basis. To the extent that we do not achieve current operating levels or are required to fund contingencies, we will be required to use some of our cash reserves and this could impact our longer term liquidity. In addition, we wish to achieve accelerated growth and to take advantage of the dynamic market forces in which we operate, rather than to be affected by them. We believe our current cash reserves and cash generated from our existing operations and customer base are sufficient for us to meet our operating obligations and the anticipated additional research and development for our audio technology business for at least the next 12 months. We will also continue to consider and evaluate capital investment or business arrangements with financial or strategic participants or investors as such opportunities become available to us on terms that enhance shareholder value and support our business strategy.

Net Operating Loss Carry forwards

At December 31, 2003, we had net operating loss carry forwards for Federal income tax purposes of approximately $26,500,000 which are available to offset future Federal taxable income, if any, through 2013. Approximately $21,700,000 of these net operating loss carry forwards are subject to an annual limitation of approximately $1,000,000.

Inflation

We believe that the moderate inflation rate of the last several years has not impacted our operations.



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Recently Issued Accounting Pronouncements

In July 2001, the FASB issued SFAS No. 141, "Business Combinations," which establishes financial accounting and reporting for business combinations and supersedes APB Opinion No. 16, "Business Combinations," and FASB statement No. 38, "Accounting for Preacquisition Contingencies of Purchased Enterprises." SFAS No. 141 requires that all business combinations be accounted for using one method, the purchase method. The provisions apply to all business combinations initiated after June 30, 2001.

In July 2001, the FASB issued SFAS No. 142, "Goodwill and Other Intangible Assets," which establishes financial accounting and reporting for acquired goodwill and other intangible assets and supersedes APB Opinion No. 17, "Intangible Assets." SFAS No. 142 addresses how intangible assets that are acquired individually or with a group of other assets (but not those acquired in a business combination) should be accounted for in financial statements upon their acquisition, and after they have been initially recognized in the financial statements. The provisions of SFAS no. 142 were effective for fiscal years beginning after December 15, 2001. We adopted SFAS No. 142 during the first quarter of fiscal 2002, and the adoption of SFAS No. 142 had no material impact on our financial reporting and related disclosures.

In August 2001, the FASB issued SFAS No. 143, "Accounting for Asset Retirement Obligations," which is effective for us beginning fiscal 2003. SFAS No. 143 requires that the fair value of a liability for an asset retirement obligation be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made, with the associated asset retirement costs capitalized as part of the carrying amount of the long-lived assets. We do not expect the adoption of SFAS No. 143 to have a material impact on our financial position and results of operations.

In October 2001, the FASB issued SFAS No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets," which is effective for fiscal years beginning after December 15, 2001 and interim periods within those fiscal periods. SFAS No. 144 supersedes FASB Statement No. 121 and parts of APB Opinion No. 30, "Reporting the Results of Operations — Reporting the Effects of Disposal of a Segment of a Business, and Extraordinary, Unusual and Infrequently Occurring Events and Transactions Relating to Extraordinary Items." However, SFAS No. 144 retains the requirement of APB Opinion No. 30 to report discontinued operations separately from continuing operations and extends that reporting to a component of an entity that either has been disposed of (by sale, by abandonment or in a distribution to owners) or is classified as held for sale. SFAS No. 144 addresses financial accounting and reporting for the impairment of certain long-lived assets and for long-lived assets to be disposed of. We do not expect the adoption of SFAS No. 144 to have a material impact on our financial position and results of operations.

In June 2002, the FASB issued SFAS 146, "Accounting for Costs Associated with Exit or Disposal Activities", which nullifies EITF Issue 94-3. SFAS 146 is effective for exit and disposal activities that are initiated after December 31, 2002 and requires that a liability for a cost associated with an exit or disposal activity be recognized when the liability is incurred in contrast to the date of an entity`s commitment to an exit plan, as required by EITF Issue 94-3. We do not expect the adoption of SFAS No. 146 to have a material impact on our financial position and results of operations.

In December 2002, the FASB issued SFAS 148 "Accounting for Stock-Based Compensation" an amendment to SFAS 123. SFAS 148 provides alternative methods of transition for a voluntary change to the fair value based method of accounting for stock-based employee compensation. In addition, this Statement amends the disclosure requirements of Statement 123 to require prominent disclosures in both annual and interim financial statements about the method of accounting for stock-based employee compensation and the effect of the method used on reported results. This statement is effective for fiscal years ending after December 15, 2002 for transition guidance and annual disclosure provisions; for financial reports containing financial statements for interim periods beginning after December 15, 2002 for interim disclosure provisions. The adoption of SFAS No. 148 did not have a material impact on our financial position and results of operations.

In January 2003 the FASB issued Interpretation 46 "Consolidation of Variable Interest Entities, an interpretation of ARB No. 51". This Interpretation requires a Company to consolidate the financial statements of a "Variable Interest Entity" ("VIE"), sometimes also known as a "special purpose entity", even if the entity does not hold a majority equity interest in the VIE. The Interpretation requires that if a business enterprise has a "controlling financial interest" in a VIE, the assets, liabilities, and results of the activities of the VIE should be included in consolidated financial statements with those of the business enterprise, even if it holds a minority equity position. This Interpretation was effective immediately for all VIE`s created after January 31, 2003; for the first fiscal year or interim period beginning after June 15, 2003 for VIE`s in which a Company holds a variable interest that it acquired before February 1, 2003.



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In May 2003 the FASB issued SFAS 150 "Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity". This Statement establishes standards for how an issuer of debt or equity classifies and measures certain financial instruments with characteristics of both liabilities and equity. It requires that an issuer classify a financial instrument that is within its scope as a liability (or an asset in some circumstances). Many of those instruments were previously classified as equity. This Statement is effective for financial instruments entered into or modified after May 31, 2003, and otherwise is effective at the beginning of the first interim period beginning after June 15, 2003. The adoption of this pronouncement is not expected to have a material effect on the Company`s financial position, results from operations or cash flows.

In December 2003, the FASB issued SFAS 132R "Employers` Disclosures about Pensions and Other Postretirement Benefits—an amendment of FASB Statements No. 87, 88, and 106". This Statement revises employers` disclosures about pension plans and other postretirement benefit plans. It does not change the measurement or recognition of those plans required by FASB Statements No. 87, Employers`Accounting for Pensions, No. 88, Employers` Accounting for Settlements and Curtailments of Defined Benefit Pension Plans and for Termination Benefits, and No. 106, Employers` Accounting for Postretirement Benefits Other Than Pensions. This Statement retains the disclosure requirements contained in FASB Statement No. 132, Employers` Disclosures about Pensions and Other Postretirement Benefits, which it replaces. It requires additional disclosures to those in the original Statement 132 about the assets, obligations, cash flows, and net periodic benefit cost of defined benefit pension plans and other defined benefit postretirement plans. The Company will adopt the provisions of SFAS 132R on January 1, 2004. The adoption of this pronouncement is not expected to have a material effect on the Company`s financial position, results from operations or cash flows.

Factors That May Affect Future Results

Certain information in this report includes forward-looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical fact. When used in this report the words "shall," "should," "forecast," "all of," "projected," "believes," "anticipates," "expects," and similar expressions are intended to identify these forward-looking statements. In addition, we may from time to time make oral forward-looking statements. We wish to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include those discussed below, as well as those discussed above in "Management`s Discussion and Analysis of Financial Condition and Results of Operations," elsewhere in this report or from time to time described in our other filings with the Securities and Exchange Commission.

Our Operating Results Fluctuate and If We Are Unable to Achieve or Sustain Profitability in the Future or Obtain Future Financing Our Business Operations May Fail

We experienced a loss from operations in 2003 and 2001 but were profitable in 2002. We experienced small losses in the last quarter of 2002, the first quarter of 2003, a larger loss in the second quarter of 2003 and a reduced loss in the current quarter. While our objective and full effort is on managing a profitable business, due to the market conditions and factors outlined above and below and their impact on fluctuations in operating expenses and revenues , we cannot provide assurance that we will be able to generate a positive profit position in any given future period. We cannot guarantee that we will increase sales of our products and technologies, or that we will successfully develop and market any additional products, or achieve or sustain future profitability, and we may have to rely on the sale of shares or on debt financings in the future, which may have a dilutive effect on our existing shareholders. Further, we cannot assure you that debt or equity financing will be available as required and if not available, we would have to further scale down operations or even cease operations.

Because The Market In Which We Operate Is Highly Competitive, We Face Significant Pricing Pressure and Competition.

We are seeking commercial acceptance of our products in highly competitive markets. Certain of our competitors appear to be pursuing a business plan that disregards commercially reasonable pricing to achieve a larger market penetration even if the penetration will not provide for viable margins or returns. We have responded by offering additional products targeted to each price and quality segment of the market and continue to aggressively pursue new opportunities in emerging product categories and complements to our existing core business. In addition, our products have been positioned as a means for manufacturers to save money while delivering an enhanced audio experience. Nevertheless, these market conditions and competitive forces make it more challenging for us, and its rational commercial competitors, to enhance their operating results. There is no assurance that our present or contemplated future



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products will achieve or maintain sufficient commercial acceptance, or if they do, that functionally equivalent products will not be developed by current or future competitors who had access to significantly greater resources or which are willing to "give away" their products.

We Rely on the Schedules and Cooperation of Chip Makers or Other Third Parties to Deliver Our Technology in Consumer Products. These Third parties Have Their Own Priorities and Alliances that May Delay or Thwart our Sales Efforts to Potential Customers.

Spatializer does not develop or market semiconductors. That is why we carry no inventory or have order backlogs that typically are good indicators of near term performance. Rather, we develop audio algorithms that are embedded on third party processors or semiconductors used by our customers. While our algorithms are implemented on a wide array of processors, often times a customer uses a processor where there is no such implementation, or where a competing solution has been implemented. In this case, our customers request that our algorithm be implemented. While these requests are typically honored, processor manufacturers must schedule such implementation as their resources or corporate strategies allow. Therefore, the supply-chain is often quite long and complicated, which potentially can result in delays or deadlines that may not always coincide with our customer`s requirements and which are beyond the control of our company.

If New Product Development Is Delayed, We Will Experience Delays In Revenues And Competitive Products May Reach The Market Before Our Products.

Since our inception, we have experienced delays in bringing new products to market and commercial application as a result of delays inherent in technology development, financial resource limits and industry responses and maturity. These delays have resulted in delays in the timing of revenues and product introduction. In the future, delays in new product development or technology introduction on behalf of us, our original equipment manufacturers of consumer electronics and multimedia computer products (OEMs), integrated circuit (IC) foundries or our software producers and marketers could result in further delays in revenues and could allow competitors to reach the market with products before us. In view of the emerging nature of the technology involved, and the rapidly changing character of the entire media, internet and computer markets, our expansion into other technology areas and the uncertainties concerning the ability of our current products and new products to achieve meaningful commercial acceptance, there can be no assurance of when or if we will achieve or sustain profitability.

Manufacturer`s design-in cycles for our technology range from four to twelve months, from the decision to adopt our technology to cashflow. These schedules are also prone to delays at the manufacturer level and in some cases, manufacturer`s new products may be cancelled due to market testing or resource allocation. Since these events are beyond our control, it is difficult to absolutely project when new deals will begin generating revenues or if signed deals will generate financial results. For this reason, we do not typically announce new deals until the target product is being introduced.

We expect that we will continue to be dependent upon a limited number of OEMs for a significant portion of our net sales in future periods, although no OEM is presently obligated either to purchase a specified amount of products or to provide us with binding forecasts of product purchases for any period. Our four largest customers as of September 30, 2003 accounted for 31%, 21%, 18% and 11% of our net sales for nine months ended September 30, 2003. The loss of any one of our major customers or licensees would significantly reduce our revenues and harm our ability to achieve or sustain acceptable levels of operating results. The loss, or signing of a similarly sized account or accounts would have a material short term impact on our operations and there is no assurance that we will not lose all or some of the revenues from one or more of these accounts. While we are working to broaden the sources of our royalty streams, there can be no assurance that we will be successful in retaining or attracting such key accounts and broadening such revenue stream sources.

Our products are typically one of many related products used by consumer electronic users. Demand for our products is therefore subject to many risks beyond our control, including, among others:

• competition faced by our OEM customers in their particular end

markets;

• the technical, sales and marketing and management capabilities of
our OEM customers;



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• the pressure faced by our OEM customers to reduce cost


There can be no assurance that we will not lose sales in the future as a result of the pressure to reduce costs faced by our customers. The reduction of orders from our significant OEM customers, or the discontinuance of our products by our end users may subject us to potential adverse revenue fluctuations.

Because The Technology Environment In Which We Operate Is Rapidly Changing, We May Not Be Successful In Establishing And Maintaining The Technological Superiority Of Our Products Over Those Of Our Competitors.

We operate in a technology environment which is competitive and rapidly changing. While our software applications deliver what we, and most manufacturers who listen to it, believe is a significantly superior audio experience, the competitive market forces that pressure manufacturers to reduce their costs may create some resistance to new technology adoption or use. Our future success is dependent on establishing and maintaining the technological superiority of our products over those of competitors, our ability to successfully identify and bring other compatible technologies and products to market and a recognition by the market of product value. We compete with a number of entities that produce various stereo audio enhancement processes, technologies and products in both traditional two-speaker environments such as consumer electronics and multimedia computing, and in multi-channel, multi-speaker applications such as Home Theater. In the field of 3-D or "virtual audio", our principal competitors are SRS Labs, Inc., QSound Labs, Inc. and Dolby Laboratories or technologies and products developed by other companies, including entities that have business relationships with us. There can be no assurance that we will be able to favorably compete in this market in the future.

If We Are Unable To Attract And Retain Our Key Personnel, We May Not Be Able To Successfully Operate Our Business.

Our future success primarily depends on the abilities and efforts of a small number of individuals, with particular management obligations and technical expertise. Loss of the services of any of these persons could adversely affect our business prospects. There is no assurance that we will be able to retain this group or successfully recruit other personnel, as needed. We compete with other enterprises with stronger financial resources and larger staffs that may offer employment opportunities to our staff which are more desirable than those which we are able to offer. Failure to maintain skilled personnel with the software and engineering skills critical to our business could have an adverse impact upon our business, the results of our operations and our prospects. Currently, we have an employment agreement with Henry R. Mandell with a term expiring in November 2005.
He, wo sind die Fundis, die mir das mal in kurzen Worten Analysieren???

Ich bin weder ein Fundi, noch iss mein Englisch so gut. :rolleyes: :rolleyes: :rolleyes: :rolleyes:
MMMmmmmmhhhh, der Kurs in Deutschland ist auch nicht angezogen, er hat sich nicht den US Kurs angepaßt.
Das hat noch viel weniger gutes zu bedeuten. :eek: :eek:
Hi Narr,
es gibt hier momentan scheinbar keinen Fundi, der das ellenlange 10-K ins Verständliche übersetzen kann.
Das Wesentliche wurde doch schon in der PR zu den Zahlen gesagt.

Als in D verstärkt gekauft wurde, hattest du dies als gutes Zeichen gewertet.
Vielleicht steht ja die Nichtbeantwortung deiner Frage im Zusammenhang mit dem Kursverlauf in D;)

Der Cashbestand von Spatializer ist gesunken, doch denke ich immer noch ausreichend um die nächsten 1-3Jahre zu überstehen.
Sollten nicht neue Kunden hinzugewonnen werden und damit die Cashsituation zuverbessern, wird Spatializer sich Kaptal verschaffen müssen, indem sie Aktien auf den Markt werfen. Was dies bedeutet, kannst du dir vielleicht vorstellen.
Meiner Meinung geht es nicht darum, wie es bilanztechnisch um die Firma steht. Es geht im Bereich der Mobiltelefone neue Kunden zu gewinnen und mit der gestrigen Meldung ist Spatializer schon einen Schritt weiter.Ich denke, dass da schon ein oder mehrere Fische um den Köder schwimmen.
Mandell hat ja schon angekündigt zu gegebnener Zeit PRs zuveröffentlichen.
Es muss Spatializer gelingen eine ähnlich starke Position in den kleinen Dingern zu erlangen, wie in den DVDplayern...Ob SPAZ wirklich überleben wird die nächsten 2-3Jahre...?
Aber bisdahin wird es noch einige nette PRs geben, die die Fantasie und den Kurs anregt.Meine Meinung

Karo
Genau so denke ich das auch !

Und ich bin der festen Überzeugung das nach der Cebit
(Computer-Messe/Mobilfunk ) fette News kommen.
Am Donnerstag ist der letzte letzte Tag der Messe !!!

Keiner Ihr dürft die Hoffnung nicht aufgeben, es wird schon !

Rom wurde nicht an einem Tag erbaut !!

R7

:cool: :cool: :cool: :cool: :cool: :cool: :cool: :cool: :cool: ;)
Rainer, nimm mich nicht falsch ... mein Ding war bloss der SpassGeburtstagskauf; ansonsten hab ich keine Ahnung von dem Laden und brauch auch keine zu bekommen; weder Fundi- noch Chartimässig ;) für mich nur schwarz oder rot und ... SpassSpazz :D greetz - andi
Das weiß ich doch hawkhead.
Habe ich dich irgendwie angesprochen?
nö ... aber nachdem sich hier so viele einfinden, kann man sich ja mal vorstellen ;)
up

unser Katerchen hat sich in letzter Zeit auch dünne gemacht


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