Adam....I'm not a salesman, nor am I a blind believer in ITRU's position in the DRM field. With IBM's overt entrance (there were already in prior to PR) into music DRM, along with MSFT's enormous presence in the general software field and DRM in particular (through their Microsft Rights Manager), I worry about ITRU's ability to stay afloat....anyone's ability, for that matter, with these gorillas in the field.
However, if any one smallcap were to survive, I would expect it to be ITRU over the others you listed....just the fact that IBM based their latest EMMS on the superdistribution of ITRU lends credence to ITRU's concept....but, if they cannot protect their patents (which I do not know if IBM infringed upon), and their patents are not wide-of-field enough to hinder competitors such as IBM from entering their space, then the long term prospects of ITRU are hazy at best.
They do have a copious amount of partners, but even IR at ITRU could not point me in the direction of a definable revenue stream from these deals. Heck, PRVW had the same general nine month statement as ITRU. Not good for someone trying to compete with the big boys.
A rep at IR, who was admittedly not the best source of detailed information, stated that the AOL deal is bringing in new customers, but I wasn't thrown a bone when it came to revenue generation or even rough numbers of activations.
He also made reference to their set-top box prospects, but again vagueness prevailed over details.
I do like their entry into the embedded software in chipsets
with Matsushita. I do like their set-top box prospects. I do like their general alliances....I like, I like....but, ITRU is one of those companies that forces you to take a leap of faith (which is not easy in this market).
Do I believe that DRM will be strong mover in 2001 and beyond? Yes.
Do I believe that ITRU will be a winner in this move> Maybe.
We'll see after their earnings report on 01/31.
There's a ton of information I have accumulated on ITRU through their re-sellers and through filings, but it all comes down to hard facts, revenue streams, partners....again, the earnings statements are the key.
It's not worth rambling anymore about them until I see the sheets.
Good luck.
Wes |
