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TMFBent (99.82)

Pegasus Wireless: Junk Getting Junkier

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May 22, 2007 – Comments (6)

Finances are still actrocious (recent 10QSB actually has the wrong dates on the tables... maybe a step forward from last year when Durland and Knabb did the math wrong?)

Oh, and the savior product, the Cynalynx that some say is going to make this company. Complete junk. From PC Mag Review:

(It got the lowest rating possible, one star)

"Nobody likes to kick the little guy, but in the name of protecting your wallet, I have to advise you to steer clear of the Pegasus Cynalynx.

Streams DVD content in 5.1 surround to home-theater setups up with digital coax input for sound.

DVD streaming often stutters. Doesn't play any MP3s or WMAs properly. Currently incompatible with some computers, including all Vista systems. Weak Interface. The remote has several buttons but few work well, and it operates like a slow-moving computer mouse.

$399.99 "

6 Comments – Post Your Own

#1) On May 22, 2007 at 4:20 PM, TMFBent (99.82) wrote:

Here's the full review.

Here's a taste:

Measuring about 8 inches by 8.5 inches and just less than 3 inches tall, the router-like Cynalynx is not a very attractive device. Simply put, it looks cheaply made...

This is even better!

(sadly, the Cynalynx is incompatible with all Vista and Mac systems)

Or how about this!

...speaking with the CEO of Pegasus, who's also the primary tech-support contact (he declined to respond to any of my findings in this review), he told me that the stereo output on the rear of the Cynalynx is not for DVD audio...

And the final nail in the Knabb and Durland coffin:

Now, I could go on and on about how the Pegasus Cynalynx also had problems playing all of my music files...I could tell you how it didn't even show up as a wireless router on one of my other systems,...The less-expensive Apple TV took me less than an hour to set up. The Cynalynx took days and never really worked as promised. I didn't even get to listen to one full song or view one full movie. Not good.

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#2) On May 22, 2007 at 6:13 PM, FoolishChemist (97.01) wrote:

I was looking at Pegasus’s stock price and what really hit me was that the 52-week high was $85!  That would give it a market cap of $1.8 billion?!  And the all time high was $5900/share which would give it a market cap of $127.5 Billion!!??  What the Frelling Frak!?  There were a bunch of reverse stock splits so the shares were never that expensive and probably the company has been issuing shares like toilet paper so the market cap was probably never that high.  But still how was it worth anywhere near that much?  Unless I made a booboo.

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#3) On May 22, 2007 at 8:45 PM, TMFBent (99.82) wrote:

split adjusted it did hit something like $85, IIRC, and yes, it was worth that much on paper. Turned out to be terlet paper, of course.

Not sure how/where you got the 127 billion number. That sounds like a foofoo.

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#4) On May 23, 2007 at 9:08 AM, TMFBent (99.82) wrote:

Here's the full review.

Here's a taste:

Measuring about 8 inches by 8.5 inches and just less than 3 inches tall, the router-like Cynalynx is not a very attractive device. Simply put, it looks cheaply made...

This is even better!

(sadly, the Cynalynx is incompatible with all Vista and Mac systems)

Or how about this!

...speaking with the CEO of Pegasus, who's also the primary tech-support contact (he declined to respond to any of my findings in this review), he told me that the stereo output on the rear of the Cynalynx is not for DVD audio...

And the final nail in the Knabb and Durland coffin:

Now, I could go on and on about how the Pegasus Cynalynx also had problems playing all of my music files...I could tell you how it didn't even show up as a wireless router on one of my other systems,...The less-expensive Apple TV took me less than an hour to set up. The Cynalynx took days and never really worked as promised. I didn't even get to listen to one full song or view one full movie. Not good.

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#5) On May 23, 2007 at 12:46 PM, FoolishChemist (97.01) wrote:

Well according to Yahoo Finance they have 21.61 million shares outstanding and multiplying that by $5900 (from the split adjusted historical prices in Jun 2002) gives that $127.5 Billion market cap.  But there were 1:5, 2:1, 1:200 and 1:20 splits.  Meaning they initially had 216 Billion shares outstanding?  That makes no sense whatsoever.  XOM has only a little over 5 Billion shares.  So I looked at the past 10K from 2002 and they only had 33 million shares outstanding with a share price around $2.65 giving a much more reasonable market cap of $87 million.  Although with all the stock splits going on and half a dozen different counts for the total shares I may have goofed, but I think it is more ballpark than the $127 Billion, but still hard to believe.  Wow after just glancing at those 10Ks it’s hard to believe anyone actually invested in that company.  Alright I wasted enough time on this company.  Pegasus: One Horse That Won’t Fly.

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#6) On May 24, 2007 at 1:05 AM, pdehne (< 20) wrote:

Say there...what do you have to say about that convertible debt that someone asked you about yesterday or so?  New board so that you do not have to answer the question?  I really want to know your opinion of that.

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