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Bob Lorsch, MMRGlobal CEO: Goodbye to the Little Yellow Box, Hello to a New Kodak Memory(January 19, 2012)
"There was a time when there was a little yellow box in every home. We all grew up with Kodak. It's a nostalgic moment for me. I remember lots of family trips in our car where, if we didn't have a little yellow box, we stopped along the way to buy one. I have footlockers filled with "Kodak Moments" from my childhood, my family and so many parties, events and special moments in my life. Remember the One Hour Photo stores? Remember the times we all dropped off the rolls of film from our weekend outings, running back to the store to pick up the "Memories" hours later?
Photography icon Eastman Kodak has filed for Chapter 11 bankruptcy protection, as it seeks to boost its cash position and stay in business. Normally these blogs are for my personal thoughts and feelings and for my life's experience to share with others. However, this time, on behalf of Kira and I and the employees of MMR, we wish our friends at Kodak the best in the challenging time caused by the "times."
As to the impact on MMR, it's a ZERO. First, at HIMSS in Las Vegas next month, MMR will be announcing a new line-up of MMRPro Scanners with Fujitsu, which has been in beta testing for the last four months at the Company's developers in India and our offices in Los Angeles. So when you visit the MMR HIMSS booth, Fujitsu scanners will be present with our Kodak scanners. None of MMR's professional products and services, including MMRPro customers (www.mmrtheatre.com) ever came from Kodak despite their best intentions. All came from the hard work of our inside management, sales team and direct resellers as well as the 14,000 plus contact network I have built over the past 30 plus years.
We have also been told Kodak's document imaging business is here to stay and ultimately could be spun off. Also, MMR has a significant supply of Kodak Scan Stations branded MMRPro, all fully warranted with outside service organizations.
Many blogs ago, I talked about The RHL Group (www.rhlgroup.com) working on a possible acquisition of a billion dollar company. Many speculated it was Kodak. However, that was neither confirmed nor denied. In fact, discussions have continued over the past year with other strategic partners and venture funds, all of which could be part of providing the capital and distribution for a transaction.
RHL has applied for patents which cover a variety of methods for wireless transmission of digital photos. As a result, RHL has been working with Verizon on how to use the RHL patent technologies in a beta program with Kodak and others. Who knows, maybe even Kodak's document imaging business could now get into the M&A mix with RHL.
And based on the value (still pending) of MMR's new Health Information Technology patent portfolio, RHL just might be the buyer for some of the 1,100 digital imaging patents Kodak owns.
Kodak clearly is a victim of times gone by. However, as times move on, MMR is the beneficiary of the technologies that are giving birth to the family album of medical records vs. the memory of my growing up in Illinois. Memories of times at the park with my Grandma Greta, who I miss every day. These are some of my Kodak memories. What about yours?"
Any statements contained in this blog that refer to future events or other non-historical matters are forward-looking statements, and some can be identified by the use of words (and their derivations) such as "need," "possibility," "offer," "development," "if," "negotiate," "when," "begun," "believe," "achieve," "will," "estimate," "expect," "maintain," "plan," and "continue." MMRGlobal, Inc. disclaims any intent or obligation to revise or update any forward-looking statements. These forward-looking statements expressed in this blog are based on the Company's reasonable expectations as of the date of this blog and are subject to risks and uncertainties that could cause actual results to differ materially from current expectations. The information discussed in this blog is subject to various risks and uncertainties related to changes in MMRGlobal, Inc.'s business prospects, results of operations or financial condition, government regulation, and such other risks and uncertainties as detailed from time to time in MMRGlobal, Inc.'s public filings with the U.S. Securities and Exchange Commission.
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Robert H. "Bob" Lorsch
4401 Wilshire Blvd., 2nd Floor
Los Angeles, CA 90010
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