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To: Pogeu Mahone who wrote (54376)	9/19/2003 8:11:39 PM
From: Eric L	Respond to of 54805

Insignia Solutions PLC (Nasdaq: INSG) Overview Zeus, << any thoughts greatly appreciated. >> No real thoughts of substance. Just a quick overview. Perhaps others are following or have comments. Insignia Solutions PLC (Nasdaq: INSG) 41300 Christy Street Fremont, CA 94538 Web Site: insignia.com Share Performance & Financial Snapshot: Index: NASDAQ Sector: Technology Industry: Software & Programming Employees: 77 Last Price 1.04 52 Week High 1.79 52 Week Low 0.19 Volume 1.41 Mil Average Daily Volume (13wk) 135,000 50 Day Moving Average 0.61 200 Day Moving Average 0.41 Institutional Ownership 1.40% Sales Last 12 Months 2.20 Mil 5 Year Growth -21.9% Income -6.90 Mil Dividend Rate 0.00 Dividend Yield 0.00% Debt/Equity Ratio NA Gross Margin 81.80% Net Profit Margin NA Shares Outstanding 20.10 Mil Market Capitalization 20.89 Mil Earnings/Share -0.34 Abridged Business Summary (Multex) Insignia Solutions PLC develops, markets and supports software technologies that implement accelerated virtual machine technology for memory-constrained smart devices. The Company's principal product has been the Jeode platform, which is based on the Company's Embedded Virtual Machine (EVM) technology. The Jeode platform is Insignia's implementation of Sun Microsystems, Inc.'s (Sun) Java technology tailored for smart devices. In April 2003, Insignia sold all Jeode-related assets, with the exception of Jeode intellectual property, to esmertec, a software company focusing on Java software and technologies for mobile and embedded devices. The Company's sole product line is its Secure System Provisioning products, which build on its position as a virtual machine supplier for manufacturers of mobile devices and allow wireless carriers to build valuable incremental services. Solution detail here: insignia.com Abridged Financial Summary (Multex) Insignia Solutions plc develops, markets and supports software technologies that implement accelerated virtual machine technology for memory-constrained smart devices. For the six months ended 6/30/03, total revenues fell 93% to $379 thousand. Net loss decreased 62% to $926 thousand. Results reflect lower license and service revenue due to sale of the Jeode product line, offset by a $3.5 million gain on sale of the Jeode product line. Competition: - DoOnGo, Japan (Funded by NTT Group) - Bitfone, Laguna Niguel, CA (Funded by Nokia Ventures and Motorola Ventures) Bitfone claims the key difference between it and rivals such as Insignia Solutions and DoOnGo is that it supports software changes below the OS layer. The other two are focused on the application stack above the operating system, an approach that is less attractive to manufacturers and a less compelling near-term business opportunity. The application stack, moreover, requires the kind of bandwidth and fault tolerance not available today - and it's complex. My Comments on Recent News: * [Sept. 17, 2003] Insignia and Accelerated Technology Announce Licensing Agreement to Include Secure System Provisioning Client Software with the Nucleus Operating System: Enables Phones Based on Nucleus RTOS to be Repairable and Upgradeable Over-the-Air biz.yahoo.com Insignia Solutions and Accelerated Technology, the Embedded Systems Division of Mentor Graphics Corporation, announced that Insignia has licensed its Secure System Provisioning client software technology to Accelerated Technology to be included with its Nucleus real-time operating system (RTOS) for mobile phones. The Nucleus RTOS is one of the most widely adopted operating systems for phones around the world, with more than 150 design wins. The new agreement will enable phone manufacturers using the Nucleus RTOS to ship a platform with Insignia Secure System Provisioning features such as Over-The-Air Repair and Dynamic Capabilities built-in. I do not know what phone manufacturers use Accelerated Technology's Nucleus RTOS and a trip to Accelerated Technology's web site didn't enlighten. Nokia uses its own NOS in its non-Symbian ARM powered mobile phones. * [Sept. 17, 2003] Insignia Solutions Joins Symbian Companion Technology Program: Enables Delivery of Insignia Solution's Secure System Provisioning Client to Symbian OS Licensees Insignia Solutions announced that it has joined the Symbian Companion Technology Program. As a result, Insignia's royalty-free Secure System Provisioning (SSP) client software will be provided by Symbian alongside releases of Symbian OS to its licensees. That's interesting. The client side software is royalty-free to Symbian licensees. Evidently Insignia makes money on the Secure System Provisioning (SSP) server software infrastructure system. Probably they have a business model similar to Openwaves and someday I'll figure out what that looks like. <g> Best, - Eric -