Media 100 Seeks Financial Help, Ships 844/X V.3
February 27, 2004
Media 100 said it is actively seeking additional capital, or a sale of all or part of its business, which may involve a re-organization. The company expects to make a confirmed announcement regarding whether or not the transaction will occur within the next few weeks. In the event negotiations do not result in definitive short-term arrangements, Media 100 may be required to cease operations.
As previously disclosed in the company's Form 10-Q filed with the SEC in October 2003, Media 100's ability to continue to operate was contingent upon the achievement of forecasted revenue growth from its products. The company has not been able to achieve appropriate revenue levels, and as a result, has been exploring the alternatives mentioned above.
In other Media 100 news, the company made its first customer shipment of the "Visual Effects" release, Vers. 3 software for the 844/X editing/compositing system. The upgrade provides 844/X with capabilities such as real-time 3D DVEs and keyer, and XML-based metadata interchange.