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Xperinet Closes Media Server Business
Contract manufacturer Future Information Technology has about 30 Xperinet servers and 70 clients in inventory (all burned-in and ready to go). The company is selling them for more than 50-percent off.
Date: August 1, 2008
Subject: Xperinet Restructuring
Dear Xperinet Manufacturer's Reps,
Xperinet is presently undertaking a significant restructuring due to weakness in the US economy. Slow US sales have placed considerable pressure on the company, and we are having to retrench, and focus on engineering before we can resume sales and marketing efforts in the US. For this reason, we had to let go several employees this week, including Glenn Arentzoff, who has done a great job for Xperinet despite the slow US market and continued product delays. If we can turn things turn soon, we will certainly want him back, but I know he's not going to last on the job market very long.
Please join me in wishing him the best in his future endeavors. The Xperinet office will be closed on Friday, August 01 and Monday, August 4 as we move to a new facility. Only emergency tech support issues will be responded to on these two days, and our phones will be down for some period during the switch-over.
Sincerely, John T. Cox
Xperinet, Inc.
1805-A Virginia Street
Annapolis, MD 21401
.(JavaScript must be enabled to view this email address)
August 7, 2008
Subject: Xperinet News
Dear Xperinet Dealers,
I regret to inform you the Xperinet Board of Directors has voted to discontinue operations effective immediately, pending filing of bankruptcy proceedings. Economic factors in the US market have left the company insolvent, and made it difficult for the company to find additional sources of capital. Unless the company is able to secure a further investment of $400,000 or find a buyer in the next few days, it intends to file for bankruptcy. If you know of any interested parties, please have them contact me.
This decision was driven largely by certain economic factors resulting from the downturn in the US housing market. Reduced investment in housing resulted in a marked reduction in revenues for Xperinet, as with many CEDIA manufacturers. Secondly, the soft market caused numerous dealers to default on their credit terms, dramatically increasing our bad debt experience. These events came on the heels of a major development effort that drained the company of cash. Finally, uncertainty about the US economy and the CEDIA market dried up all our sources of capital. The convergence of these four factors proved insurmountable for the company.
I know this event will create many difficulties for you and your customers, as you seek to support the installed base of product. All product manufactured during the last two years was built by our contract manufacturer, FutureIT. FutureIT provided a 3-year guarantee on the performance of the hardware, and also has sufficient expertise in supporting the software that they may be able to assist you with minor issues. They also are in possession of all MIRV units that have been returned for repair. Following is contact information for FutureIT.
Marc R. Wishnow/ Vice President
Future Information Technology, Inc.
5901-G Ammendale Road
Beltsville, MD 20705
.(JavaScript must be enabled to view this email address)
Ph: 240-264-1266 ext. 243
Fax: 240-264-1261
On the software side, one of our engineering contractors is working to offer a support program for Xperinet products. We will forward details of the program and their contact information hopefully by Monday.
It has been our honor and pleasure to serve you these past six years, and we deeply regret that we could not continue to pursue our vision with you.
Sincerely,
Xperinet, Inc.
John T. Cox
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6 Comments (displayed in order by date/time)
We are supporting the software and hardware for Xperinet. Future IT “the manufacturer” will recommend you to us if you as. Please feel free to contact us at anytime.
I jumped ship before this happened, as it had been a long time coming.
President/Founder/CEO John Cox basically is a person of poor moral quality, and was always able to be bailed out by his father whenever he had any issues. Once his father passed away, I knew that Xperinet would be soon to follow.
I do however feel bad for VP’s John Jamieson and Marian Trnkus, as they both were able to basically be swindeled by JTC. Both had signifigant investments in the company.
how can i contact steve brown and jesse benedict. 
And plz is there any documentation about the experinet MIRV
software repair…. ..
Could either Steve Brown or Jesse Benedict please contact me? I have an Xperinet system with some problems. All of a sudden the company that sold it to me and installed it told me that Xperinet is out of business. They made 9 service calls since the beginning of December before they told me this. Needless to say I am frustrated and have lost faith.
Thank You
We are one those Xperinet casualties. We knew that they were having troubles, but not this extent. The equipment manufacture has been help full, but limited when it comes to the software side. Has any one been able to find someone for software assistance. If they have, we would like them to make themselves known.
HELP