Kodak Stock Down to $5.45

[Poisson Du Jour]

Another Kodak Moment as their share jumps 120%...
Kodak has another trick out of the (cryptocurrency) box:
http://www.abc.net.au/news/2018-01-10/kodak-blockchain/9316810

 

[Sirius Glass]

About now some of us wish that they had not dumped their Kodak stock.

 

[RattyMouse]

About now some of us wish that they had not dumped their Kodak stock.

Yep. Had I held on to those 100 shares I bought at $6.00 (and then quickly sold at $6.10; I held them less than 4 minutes), I'd be up $500 today. In early morning pre-market trading Kodak is now at $11/share. I just can't handle the stress of holding wild speculative stocks like that for any length of time. I was down almost $50 after I bought those 100 shares but ended up making a tiny profit, enough to buy a roll of film or two. I always find it funny that one can make money just by typing on their phone for a bit.

Reading more about this Kodacoin concept announced yesterday, Kodak is not even the issuing entity of the cryptocurrency. There is a second company that is part of this initiative and it is they who will issue the coins and it is they who will be making the money from the coin offering. As far as I can see, Kodak is just lending their name to this to call the coin Kodacoin. Very few details are officially announced giving this whole concept a very shady appearance, as noted by several commentators on CNBC.

 

[Lee Rust]

It looks like this is not really a cryptocurrency per se, but it does use the blockchain approach to authenticate chain of custody for digital images. If Kodak can solve the problem of tracking authorship or ownership and getting photographers paid fairly for use of their digital pictures, that would be a business plan. Kodak would get a cut of each payment.

https://www.kodak.com/us/en/kodakone/default.htm

 

[FoidPoosening]

It looks like this is not really a cryptocurrency per se, but it does use the blockchain approach to authenticate chain of custody for digital images. If Kodak can solve the problem of tracking authorship or ownership and getting photographers paid fairly for use of their digital pictures, that would be a business plan. Kodak would get a cut of each payment.

https://www.kodak.com/us/en/kodakone/default.htm

If and would are much larger words than you think when it comes to cryptocurrency.

 

[Lee Rust]

"If" and "would" are large words indeed, but digital rights management is a huge problem for all kinds of creative authorship... images, music, words. If Kodak or whomever is licensing their name is successful at wrangling a solution, it would be a very big deal. Bigger than Kodachrome.

 

[FoidPoosening]

While I agree with you, a crawler for digital rights management does not need a blockchain, an ICO, or anything of that nature to be accomplished.

Unfortunately this is either A) an intentional cash grab by Kodak or B) Kodak was misguided by the licensing company they're working with into doing this.

Full explanation and source: https://www.bloomberg.com/view/articles/2018-01-10/good-luck-spending-your-kodakcoins

 

[AgX]

Kodakcoin... A coin to open battery comportments, that is what photographers need.

 

[Wallendo]

Kodak has always been big on ideas, but weak on implementation.
The PhotoCD idea was great. But Kodak's final specifications required custom CD's which were expensive, using an unusual variation of ISO 9660, on disks which could not easily be copied. If you didn't have 3-4 rolls done at once and wanted more added, you had to mail back in your original CD (remember copying was very difficult). Kodak's FlashPix format was next, but also addressed an issue that wasn't important. Each image was saved at multiple resolutions (like PhotoCD), but history has shown that computers are very good at reducing resolution of images. Their digital cameras later had plug-and-play stands to connect with computers, but these were proprietary devices.

This DRM service sounds good, but I don't see how it will actually collect money from unlicensed use. I suspect most sites who will get a take-down e-mail will just take down the image, not open their wallets.

 

[RattyMouse]

While I agree with you, a crawler for digital rights management does not need a blockchain, an ICO, or anything of that nature to be accomplished.

Unfortunately this is either A) an intentional cash grab by Kodak or B) Kodak was misguided by the licensing company they're working with into doing this.

Full explanation and source: https://www.bloomberg.com/view/articles/2018-01-10/good-luck-spending-your-kodakcoins

Wow...that link makes this look more like a scam than I thought. Kodak is truly desperate to stay alive or to stay somewhat relevant to be involved in something like this.

It's pretty clear now that Kodak's core business, commercial printing, is swirling the drain.

 

[Helios 1984]

Kodakpocalypse has begun D:

 

[Lee Rust]

Pump and dump...

A stock scam? Silly me, I thought this was about photographs.

 

[mshchem]

This is an act of desperation or possibly deception. This is Kodak teaming up with some unsavory individuals. Kodak's contribution is it's "Meatball", the Kodak logo. Whatever that's worth these days? It's no different than seeing Polaroid branded televisions or, back in the day, VHS tapes.
As has been pointed out, there's a bunch of hedge funds that have accumulated Kodak on the way down. Now the feeble minded, "blockchainophiles" are being led like sheep to the slaughter with a promise of untold gains in the stock price. The general stock market is in a bubble. The P/E ratios and dividends do not support the prices of most stocks. But KODK has no Price to Earnings ratio because it has NO earnings.
The groups that will benefit from this are the insiders, and the hedge funds. How far it goes before it collapses is anyone's guess. This very well lead to a collapse that will do in Kodak film. Maybe the best that could happen is that this blockchain nonsense is enough of a distraction, that Alaris, could sweep in and buy the film operation, 100%, along with all the rights to cameras and everything photographic. That might give Block Chain Kodak, enough cash to fend off the bond holders for a few more months. How is Kodak planning to pay the interest on their debt with such a half baked scheme? Of course there are sales organizations that can sell Ice Cubes to Polar Bears, so funding might not be a problem for a while.
I'm a old school guy. I invest in things that are tangible and I can understand. I would love to have the Kodak CEO try to explain this to me. Show me the money!
Best Mike

 

[RattyMouse]

This is an act of desperation or possibly deception. This is Kodak teaming up with some unsavory individuals. Kodak's contribution is it's "Meatball", the Kodak logo. Whatever that's worth these days? It's no different than seeing Polaroid branded televisions or, back in the day, VHS tapes.
As has been pointed out, there's a bunch of hedge funds that have accumulated Kodak on the way down. Now the feeble minded, "blockchainophiles" are being led like sheep to the slaughter with a promise of untold gains in the stock price. The general stock market is in a bubble. The P/E ratios and dividends do not support the prices of most stocks. But KODK has no Price to Earnings ratio because it has NO earnings.
The groups that will benefit from this are the insiders, and the hedge funds. How far it goes before it collapses is anyone's guess. This very well lead to a collapse that will do in Kodak film. Maybe the best that could happen is that this blockchain nonsense is enough of a distraction, that Alaris, could sweep in and buy the film operation, 100%, along with all the rights to cameras and everything photographic. That might give Block Chain Kodak, enough cash to fend off the bond holders for a few more months. How is Kodak planning to pay the interest on their debt with such a half baked scheme? Of course there are sales organizations that can sell Ice Cubes to Polar Bears, so funding might not be a problem for a while.
I'm a old school guy. I invest in things that are tangible and I can understand. I would love to have the Kodak CEO try to explain this to me. Show me the money!
Best Mike

Well said Mike, well said.

 

[eddie]

Kodak has always been big on ideas, but weak on implementation.

Considering the fact that Kodak pretty much invented the consumer photo industry, created an iconic name ( and internationally recognized logo), and led the industry for many decades, I’d argue that their implementation wasn’t always weak.

 

[Sirius Glass]

Kodak has always been big on ideas, but weak on implementation.

And exactly what do you base that statement on? Please cite your sources. Or is it based on what you had for breakfast?

 

[Poisson Du Jour]

Please site your sources.

cite.

 

[Poisson Du Jour]

Considering the fact that Kodak pretty much invented the consumer photo industry, created an iconic name ( and internationally recognized logo), and led the industry for many decades, I’d argue that their implementation wasn’t always weak.

So very true. But recent years can easily cloud one's judgement. In the case of the initial post, the statement is quite erroneous.

 

[Sirius Glass]

cite.

Please cite your site.

 

[Poisson Du Jour]

Please cite your site.

Honourable member, I do not have a site to cite.

 

[Sirius Glass]

Honourable member, I do not have a site to cite.

I meant Wallendo, not you.

 

[fdonadio]

Honourable member, I do not have a site to cite.

But you do have 20/20 sight, right?

 

[Poisson Du Jour]

But you do have 20/20 sight, right?

Wishful thinking...

 

[fdonadio]

Wishful thinking...

I think you mean “not quite”.

 

[Poisson Du Jour]

I think you mean “not quite”.

Yes. I'm fine with +3 magnifiers...

 

[Cholentpot]

Rumors are bouncing around that Kodak slashed the price of bulk rolls. Anyone else hear this? I bumped into it on Instagram, a film shop posted that as of tomorrow prices are dropping on, as what I read, b&w bulk rolls of film as per Kodak cutting the price of bulk.