If it does happen and, it certainly looks like it will, no matter how fast and swift, it will certainly have an impact far and wide particularly for any employees or vendors that survive....
Discuss...
14 replies (most recent on top)
If they did have some spare cash on the side, they would have already used it. There is a lot of debt and we are behind from a innovation standpoint compared to our competitors.
There’s always money in the banana stand
I 💕 that there is a trolling Dude who implies that Avaya has some suitcase filled with cash that someone like Phil Pritchard, the Keeper of the Stanley Cup 🏆 carrys around the country ready to pay off any Avaya debt under the table!
Seriously. Avaya, did you require that employees take an aptitude test before hire and just retain the ones who are gullible enough to blindly believe everything you force fed them?
Avaya donated to the democratic party, so like fix and sbf, we good bro...
Mr. @4crg+1jYKh4LI , You are full of NOTHING, you'd be better off being full of the cr--ap you accuse the FACT SUPPORTED poster.
LOGIC. If FY 2021 lost its certification of being "Valid" PER ICFR., and the FY 21 #'s are based on a flawed tracking of revenue generating customers and an Over-exaggerated ARR, then FY 2020 is obviously the baseline they built the 2021 #'s from. So, DUH, of course it will go back to FY 2020! It will go back to when ARR began showing up in quarterly earnings, which began in late 2019.
Let me give you a basic education:
Under the COSO Framework, there are 5 interrelated “components” of an effective internal control system; these are derived from the way the company is managed on a day-to-day basis:
- The company’s top-level environment with respect to control. This includes elements such as the ethical “tone at the top,” and the effectiveness of the board’s audit committee in its high-level oversight of financial reporting. This component is known as the Control Environment.
- The assessment of risks of the various processes and data points that feed into the company’s financial reports. For example, a process that is highly susceptible to fraud would be considered to be a high-risk area.
- The way in which controls are actually designed and implemented within the company, so as to address the identified risks. This component is known as Control Activities.
- The way in which information within the company is gathered and shared, both to people within the company responsible for financial reporting, and to external users of financial reports. This component is known as Information and Communication
NOTE: This includes a review of "SPOKESPERSONS". SO, lets say a spokesperson is quoted as stating "100m Seats". Well, if they don't have proven, audited and factual backing of that exact #, they are violating ICFR.. However, that area is usually given a pass when they are so focused on PwC and the C-Suite and Board Seats who allowed it to happen and continue.
- The way in which the effectiveness of these controls are monitored by company management. NOTE: WE ALL KNOW THE ANSWER TO THIS ONE! The controls were not simply NOT monitored. The LACK OF CONTROLS was dictated by Management!
Chapter 11 not going to happen, they have enough cash to pay the loan in June, where are these so called rumblings you hear about fy20, you must have shorted the stock and trying to drive the price down . You are full of cr-p. ..
Now there are rumblings that FY20 is having to be investigated as well - there is a world of agony going to be heaped upon the already world of pain Avaya is in....
Avaya is a train wreck and Chapter 11 Episode 2 is coming in the new year for sure.
$3 billion Annual Revenue you say? You certainly have perfected the art of "Bury 🗣️ in Sand".
May 10 2022 : Total earnings miss, yet tried to deflect by over promoting the $400m pending deal that was 'delayed' (still claiming it was just the first of many similar sizes deals)'. Hid behind Ukraine (despite being one of the few tech companies that refused to leave cheap labor in Russia).
July 2022 : Fired CEO and dramatically slashed guidance for Q3
Aug 9, 2022 : Held earnings call, yet didn't disclose financials. Avoided any talk about the $400m deal.
Nov 30, 2022 : STILL have not shared Q3 #'s (reminder, Q3 is April -June); AND delayed Q4 End of Year reporting AND the Audit revealed that 2021 Year End report can "no longer be relied upon' requiring review and resubmission for the ENTIRE YEAR of 2021
**Ya still believe that Avaya has $3b in Annual Revenue?
Avaya clearly has a If you are competent, Need Not Apply policy of there are fools like you still proclaiming it's untouchable with phantom $3b in Revenue"!!!!!!!!!!
There is no deal done and none likely as more and more financial improprieties are discovered......
No bankruptcy. They’ve already worked out a debt deal. Just not public yet.
It looks like many law firms lining up to investigate. This could lead to lawsuits, So $3B gets blown up pretty fast.
Not going to happen, strong customer base $3B+ annual revenue, we will survive
Only a matter of when now. Unlikely to survive as separate company afterwards.
https://twitter.com/AvayaAvya/status/1597963286737477634?s=20&t=qnReM3L1Ow41y4PHWp1bNA