It is difficult to overstate the total failure of Frank Hausmann and the CSCC team.
For brevity, we'll skip over the part where they took over a legitimate hardware business, attempted to fiddle with it for a while, and had to bail out for fifty cents per revenue dollar. Of course, we're supposed to ignore that enormous failure, because the brain trust was focused on the New Internet Strategy!!
Let's follow along, via the TMSR press release clippings below, as they unleash WeCanTalk upon the unsuspecting globe!
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Hillsboro, Oregon, December 4, 1998 -- ThrustMaster, Inc. (NASDAQ: TMSR), today announced the release of Talk n' Play™ ... “We believe our Talk n' Play community will become a compelling destination site on the Internet where millions [!!!] of current on-line gamers will visit regularly to find people to compete with in the latest online game entertainment. Of course, at the Talk n' Play destination site, visitors will also find a Talk n' Play eCommerce store where they can buy ThrustMaster's great lineup of game controllers and other yet to be announced services."
Hillsboro, Oregon, December 7, 1998 -- ThrustMaster, Inc. (NASDAQ: TMSR), a leading developer and marketer of computer entertainment game peripherals and software solutions, today announced that it has joined forces with PeopleLink, Inc., through an exclusive distribution arrangement, to offer Internet communication services for the online game community.
Hillsboro, Oregon, December 11, 1998 -- ThrustMaster, Inc. (NASDAQ:TMSR)... today announced that the company plans to ship a portfolio of new products in 1999 called WeCanTalk.com ... WeCanTalk.com products will target mass market consumer interest groups including SOHO, sports, health, fashion, family, religion, education, and entertainment. Each product will include a combination of software solutions and other products designed to enable the user and his or her family, friends, and business associates to conference on the Internet while they simultaneously visit Internet web communities, shop, and share information. Products will be offered to the mass market computer retail channel, eCommerce, OEM, and to specialty merchandising sales channels. ... "The release of our Talk n' Play Internet tele-conferencing and gaming solution, as the spearhead of our new WeCanTalk.com product portfolio, coupled with our on-line gaming communications services plan, supported by PeopleLink, represents the first major step in the execution of our strategy to diversify our product base and channels outside the gaming sector,"' stated Frank G. Hausmann.
[Wow, it sounds quite exciting at this point!! Who would have guessed that nine months into this thrilling effort, quarter revenues would amount to a mere $82,000??]
Portland OR, January 13, 1999 -- ThrustMaster, Inc. (NASDAQ: TMSR) ... today announced that the company has signed an exclusive agreement with Strategic Marketing Partners (SMP) whereby Strategic Marketing Partners will represent ThrustMaster in the sale of its WeCanTalk.com product portfolio to distribution and retail accounts throughout the United States and Canada. ... Founded in 1989, SMP sells more home computer software than any other independent sales firm, by a large margin. Their annual revenue in the U.S. and Canada for the products they represent is about $200 million. With seven sales offices located within minutes of the major resellers, SMP's staff of the industry's most highly respected sales executives meets face-to-face on a regular basis with the buyers that purchase and sell approximately 95% of all consumer software. [Sounds like they'll sell a bunch, doesn't it?]
PORTLAND OR, January 13, 1999 -- ThrustMaster, Inc. (NASDAQ:TMSR)... today announced the appointment of Robert B. Smart as Vice President of Business Development. ... "The company is well positioned to expand its leadership in the computer entertainment market with the launch of its exciting new
WeCanTalk.com™ product line of multi-person voice communication solutions, spearheaded by Talk n' Play™ The ability to hold a conference call with up to four people on the Internet while sharing information, based on Intel Multi-Point Audio technology, is an incredible solution with broad applications," added Smart.
Hillsboro, Oregon, January 14, 1999 -- The World Opponent Network (WON.net) and ThrustMaster (NASDAQ:TMSR) announced today that WON.net will be the first online gaming service to officially host Talk n' Play Internet multi-person voice
conferencing and communication services from ThrustMaster. The World Opponent Network is a leading online game network with over 800,000 subscribers.
Portland OR, January 21, 1999 -- ThrustMaster, Inc. (NASDAQ: TMSR) today announced an exclusive distribution agreement with EarthLink (NASDAQ: ELNK), whereby ThrustMaster will include a trial offer for EarthLink Sprint Internet service in
retail packages of its Talk n' Play™ Internet voice software solution. In exchange, ThrustMaster will receive a financial bounty per qualified member signing up for EarthLink Internet services. EarthLink will also participate in the Talk n' Play product
launch and plans to incorporate Talk n' Play into the EarthLink Internet Hour radio show. ... "EarthLink was selected as the exclusive Internet service provider for the Talk n' Play retail solution because of EarthLink's more than 1,700 local access points across the U.S., coupled with EarthLink's award winning service and simple installation," stated Ron Resnick, ThrustMaster's Vice President of Marketing. "EarthLink's excellent reputation and quality service lead us to conclude that EarthLink is the appropriate provider to meet the needs of Talk n' Play customers desiring a fast reliable Internet connection."
Portland OR, January 28, 1999 -- ThrustMaster, Inc. (NASDAQ: TMSR)... today announced that it has shipped Talk n' Play™ into the retail channel in volume. ... Talk n' Play is available nationwide through general distribution including Ingram
Micro, Navarre, and Merisel. ... "Talk n' Play is the spearhead of our WeCanTalk.com Internet audio conferencing portfolio. Our strategy is to provide a low cost, high quality Internet audio conferencing solution targeted at a broad spectrum of vertical market applications such as SOHO, sports, health, fashion, family, religion, education, and entertainment. Each solution will have a common platform consisting of an instant messaging client, a unique community network, and the Internet audio conferencing module, yet each will be differentiated through content and marketing partnerships," stated ThrustMaster President and CEO, Frank Hausmann.
Hillsboro, Oregon, April 12, 1999 -- ThrustMaster, Inc. (NASDAQ: TMSR), today announced it plans a mid-May release of iConference™, the second product of the company's "WeCanTalk.com™ portfolio... iConference will be available for an estimated retail price of $49.95. ... "iConference is notable as it is our first non entertainment WeCanTalk.com solution. It demonstrates the time-to-market leverage that the WeCanTalk.com core platform will bring to the balance of our WeCanTalk.com portfolio. Each WeCanTalk.com solution will use the same core platform integrated with different applications tailored to a specific market segment," stated Frank G. Hausmann, ThrustMaster's President and CEO. "Specifically, this business model will allow us to quickly offer the OEM channel different solutions for each market segment that the OEM's are attacking such as the entertainment, SOHO, education, home-networking, and general consumer markets," added Hausmann.
"IDC estimates that U.S. small businesses with fewer than ten employees numbered 5.7 million in 1998, and home-based businesses totaled 22.2 million," stated Ron Resnick, ThrustMaster's Vice President of Marketing. " iConference is an exciting solution which can significantly extend and enhance the productivity of small business people using the Internet for communicating with clients, customers, and suppliers. We are executing a marketing plan to create strong interest in the retail and OEM channels ...
Hillsboro, Oregon, April 16, 1999 -- ThrustMaster, Inc. (NASDAQ: TMSR), today announced that it has entered into an agreement to provide Talk n' Play online community communications services to Computer Gaming World, (CGW), a Ziff-Davis (NYSE: ZD) publication. Computer Gaming World is the leading computer
gaming magazine serving gamers in the software entertainment market.
[this is a good one:] "Our relationship with CGW is significant as it reinforces the validation of the Talk n' Play technology and solution and is indicative of our early success in entering the eCommerce channel with key strategic partners. "The objective of mass proliferation of our WeCanTalk.com solutions will be pursued via the execution of a near-term revenue model, driven by the eCommerce channel and other diffusion strategies," stated Frank G. Hausmann, ThrustMaster's President and CEO. "Our alliance with CGW represents a diffusion strategy in the eCommerce channel where mass proliferation lays the foundation for both high margin upgrade revenue and a broader strategic alliance," added Hausmann.
Hillsboro, Oregon, April 22, 1999 -- ThrustMaster, Inc. (NASDAQ: TMSR), today announced that it has signed an agreement with Chumbo.com to offer Talk n' Play and iConference, ThrustMaster's multi-person Internet voice conferencing solutions, to consumers and business users through Chumbo.com's award winning Internet retail software store and to hardware OEMs. Chumbo.com's OEM customers include six of the top ten PC manufacturers. Chumbo's Internet Retail Software store received the PC Magazine Editor's Choice Award for "Best Software Store on the Web" for two consecutive years.
PORTLAND OR, June 7, 1999 -- ThrustMaster, Inc. (NASDAQ:TMSR), a leading marketer of game controllers and Internet community and communications solutions for the PC, today announced the appointment of David McFeeters-Krone as Vice President of Strategic Planning.... "With the introduction of Talk n' Play™ and iConference™, ThrustMaster has moved decisively toward establishing a new category of Internet-based communications software solutions which enhance online multi-person interaction," stated David McFeeters-Krone. "I look forward to developing key strategic alliances and technology partnerships to swiftly enable Internet communities with voice communication and other applications."
Hillsboro, Oregon, July 13, 1999 -- ThrustMaster, Inc. (NASDAQ: TMSR), today announced the release of TeenLink™, the third product of the Company's WeCanTalk.com™ portfolio of Internet voice conferencing solutions. TeenLink will provide multi-person Internet voice conferencing and collaboration "fun" tools for the
teen market in an easy to use, integrated solution. Initially, TeenLink will be offered exclusively in the PC-OEM channel to PC manufacturers and PC-OEM software aggregators as a unique solution for teen software bundles.
The Company believes TeenLink could be extremely attractive to PC manufacturers and PC-OEM software aggregators as it enables Internet voice conferencing from up to four separate local, national or international locations coupled with instant messaging and e-mail applications to schedule, start and join teen voice conferences. TeenLink works with existing Internet connections - there are no additional fees or long distance phone charges. In addition, up to four TeenLink users can simultaneously conduct an Internet voice conference while sharing any Windows™ application including a "fun" electronic white board which allows teens to "doodle" while they chat, transfer files and surf the web together.
"TeenLink is an exciting product as it offers a unique way for teens to communicate, share and have more fun together over the Internet. The teen Internet market segment continues to grow and many PC manufacturers and PC-OEM software aggregators
have a heightened level of interest in providing new and innovative teen oriented software solutions and bundles," stated Frank G. Hausmann, ThrustMaster's President and CEO. "TeenLink is the third solution of our WeCanTalk.com portfolio of Internet voice conferencing solutions and represents the latest step in the execution of our strategy of introducing products across multiple market segments," added Hausmann.
Hillsboro, Oregon, July 20, 1999 -- ThrustMaster, Inc. (NASDAQ: TMSR), today announced that the WON.net online entertainment site has approved Talk n' Play as the communication product of choice for their moderator and tournament coordinators.
WON.net, dedicated to bringing the Internet into gaming, believes that Talk n' Play is the most compelling solution to help their moderators and users stay in contact with each other. The first product in ThrustMaster's WeCanTalk.com family of Internet
multi-person communication solutions, Talk n' Play empowers users to find others and communicate via voice and text while using other online applications, such as games.
In addition to support in the WON.net Player's Lounge Message Boards under Card & Board Games (http://www.won.net/lounge/), Talk n' Play is featured in WON.net's recent promotion in Yahoo Internet Life, which was mailed to over 750,000 people.
WON.net and ThrustMaster continue to explore new ways to extend their relationship.
HILLSBORO, OR, August 16, 1999 -- ThrustMaster, Inc. (NASDAQ:TMSR) today announced its second quarter financial results.
For the second quarter ended June 30, 1999, the Company's new Internet communications software business recorded revenue of $375,000. Revenue for the six month period ended June 30, 1999 was $721,000. The Company shipped its first
Internet communications software product in February 1999...The loss for the six month period ended June 30, 1999, before the extraordinary write down of the deferred tax asset associated with the hardware business, was $553,000 or $0.11 per share.
"The second quarter financial results of our new Internet communications business reflect the transition from our old business model to our new business model and present a new earnings leverage equation to our shareholders involving potential higher gross margins and reduced operating expenses," stated Frank G. Hausmann, ThrustMaster's President and CEO
HILLSBORO, OR, September 29, 1999 –– ThrustMaster, Inc. (NASDAQ:TMSR) today announced that shareholders have approved the sale of the hardware business and the new company name, CenterSpan Communications Corporation ... Beginning today, the company is focusing exclusively on its Internet community, collaboration and communications software business.
"The next 3-6 months will be a very dynamic time for our new company," commented Frank G. Hausmann, CenterSpan Communications Corporation President and CEO. "Our new name captures the essence of our mission to become the online platform of choice for small group interactive multimedia applications. To accomplish this mission, we have completely restructured our organization to focus on the development and
delivery of Internet software."
HILLSBORO, Ore.--(BUSINESS WIRE)--Nov. 11, 1999--CenterSpan Communications (Nasdaq:CSCC - news) today announced its third quarter financial results.
For the third quarter ended September 30, 1999, the Company's new Internet communications and collaboration software business recognized a net loss from operations of $1.0 Million or $0.20 per share. The loss from operations for the nine month period ended September 30, 1999 was $1.5 million or $0.31 per share.
''The third quarter financial results of our new Internet software business, and the September 30, 1999 proforma balance sheet, reflect the transition from our old business model to our new business model,'' stated Frank G. Hausmann, CenterSpan's President and CEO. ''We are now an Internet company in the purest sense with an Internet e-commerce transaction business model. We have 32 employees, $20 million in cash, three technologies licensed from Intel and a global market opportunity. In addition, our agreement with Go2Market.com announced today is the latest validation of our unique approach to Internet communications and collaboration,'' added Hausmann.
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ROFL!!!!
And the upshot of all that sound and fury?? Well, about $800K in sales over nine months, and millions of dollars in losses. Revenues have declined each quarter, starting from Q1 to Q2, and again from Q2 to Q3. As they continue along this path, they manage to sell less and less... and lose more and more!
The execution of this company is simply unbelievable. All those deals announced... all those products... all those “initiatives”... all that hype... boils down to pretty much nothing but a money-losing shell. Without exception, each of those deals announced above amounted to basically nothing. Every one!! How extraordinary.
But don't worry--we're told to just wait a few months--the *next* version of TalkNPlay will really be something! They have a crack management team, just waiting to storm the markets with the next thrilling installment.
Boy, can I hardly wait.
Can't believe anyone read all this,
-- Pete |
