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In acceptance of the fact that Cygnus Imaging can not ensure continuous shipments of Panamorph lenses and timely responses to emails, especially during dynamic market conditions where new events seem to reliably create new challenges faster than I can smooth out old ones, the program is being transferred to a new team at Visual Systems Research, Inc. in terms of its business development, sales, operations and the generation of appropriate resources that both the customers and the technology deserve. The priority does and shall remain taking care of pre-buy customers, but obviously a different approach is required to take something we now know how to build and get it out the door. I will be continuing on in the capacity of the technology contact to create new solutions as well as to support the transition of Panamorph operations.


Over the past approximately 3 weeks the new team, in the process of evaluating the whole program, has been inundated with the industry interest that the Panamorph is generating, and their focus is to apply this interest in what ever way is necessary to support accelerated and consistent manufacturing and shipping of units. To this end there is now a web page which is posted and maintained specifically for the information of pre-buy customers at Pre-buy customer page .


I hope that these steps create a significant and positive change in how the Panamorph becomes a delivered product and, as always, very much appreciate the continued support of so many (you know who you are).
 

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Quote:
Originally posted by Shawn Kelly
In acceptance of the fact that Cygnus Imaging can not ensure continuous shipments of Panamorph lenses and timely responses to emails, especially during dynamic market conditions where new events seem to reliably create new challenges faster than I can smooth out old ones, the program is being transferred to a new team at Visual Systems Research, Inc. in terms of its business development, sales, operations and the generation of appropriate resources that both the customers and the technology deserve. The priority does and shall remain taking care of pre-buy customers, but obviously a different approach is required to take something we now know how to build and get it out the door. I will be continuing on in the capacity of the technology contact to create new solutions as well as to support the transition of Panamorph operations.


Over the past approximately 3 weeks the new team, in the process of evaluating the whole program, has been inundated with the industry interest that the Panamorph is generating, and their focus is to apply this interest in what ever way is necessary to support accelerated and consistent manufacturing and shipping of units. To this end there is now a web page which is posted and maintained specifically for the information of pre-buy customers at Pre-buy customer page .


I hope that these steps create a significant and positive change in how the Panamorph becomes a delivered product and, as always, very much appreciate the continued support of so many (you know who you are).
GONG!!!!!
 

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You can't make this stuff up:


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1. For each Panamorph unit shipped to a new audio/visual or home theater dealer, one unit will be shipped (or a refund applied) to a pre-buy customer. All sales may only be made to audio-visual home theater dealers or established manufacturers and distributors (ie no end-users). At no time shall VSR condone, support or ship to a dealer who advertises a price in any media less than the highest price paid by a pre-buy customer for a Panamorph unit.


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Translation:


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New suckers have to be found before old suckers are serviced.


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-Mr. Wigggles
 

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Quote:


1. For each Panamorph unit shipped to a new audio/visual or home theater dealer, one unit will be shipped (or a refund applied) to a pre-buy customer. All sales may only be made to audio-visual home theater dealers or established manufacturers and distributors (ie no end-users). At no time shall VSR condone, support or ship to a dealer who advertises a price in any media less than the highest price paid by a pre-buy customer for a Panamorph unit.
As I read this, it says that those of us who have already bought and paid for this product are to be held hostage to future sales. Given the rarified pricing of this product now, anyone want to guess when we might actually see our lenses?


Is this legal?


Dan
 

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Quote:
This policy is a response of VSR in the interest of honoring the good will of Panamorph pre-buy customers. However, while VSR is aggressively pursuing this program, we can not guaranty that a) future sales of VSR will be sufficient to complete the program or b) that either existing or future vendors will supply components or services to VSR for delivery of Panamorph units.
So this means that if they can not get enough units delivered to High End Video stores, you still ain't going to get your Panamorph.
 

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Translation:


I am a really bad businessman. So I'm going to try to skip out on investors with the shell game known as "new company". I like to use big words especially the word "team" because it takes the responsiblity off my own actions. I realize that anyone of sane mind knows there can be no team without $$$, of which I have none. Furthermore, until I get some, nobody gets their damn lens! Doesn't matter because you all knew this last year....ha ha ha ha ha


This product is so fabulous I have people throwing their investment money at me. Soon I will be able to get the hell out of Michigan and move somewhere south of the border where nobody know's who I am, or what I've done.


I hope I can still keep fooling people so my skip out fund is enough for me to retire in Rio.


suckers....
 

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Quote:
Originally posted by jkaiser



So this means that if they can not get enough units delivered to High End Video stores, you still ain't going to get your Panamorph.
Also being the optimist, I will get my Panamorph if at least one person in every state buys one Panamorph. Seems plausible. Especially considering how many "High End Video Stores" there are in the world.


I wish there was a better way...


Jeremy
 

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he must be using the word "team" because he finally secured a job at mcdonalds.


H
 

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In all seriousness.


Since there is no mention of the Panamorph 2.35:1, those who ordered that product should get a credit card refunded immediately.


It is my opinion that those who paid a large ammount should also consider getting a credit card refund.


It seems that VISR/Cygnus doesn't want to honor the $600 orders or they wouldn't have come up with the silly provision #1.


I am speculating that VISR wants to wait a few weeks to see if the program is viable with the mainstream HT supply chain. If it looks real good they will start building panamorphs in the new customer/prebuy/new customer/prebuy... ratio. If it doesn't look good, they will can the entire program. Remember, this is weeks/months from now.


The choice is yours but don't forget about the 60 day exclusion from your credit card company that Rob Reid has been talking about. Along those lines, the delivery schedule went down today from Cygnus' website so the clock starts now.


-Mr. Wigggles
 

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Well...I guess it's time to change my title to "panamorph rube". The naysayers and disruptors were right and I was wrong.

Wigggles was also right. We were suckers.


The memo tries to establish that VISR has no obligation to the prebuyers. That their actions are out of the goodness of their hearts. Made me want to vomit.


The memo clearly states we might never get our lenses or refunds. The one for one delivery is a slap in the face to prebuyers who have supported delay after delay. And even if they can sell the lenses to dealers does anyone actually believe that they'll make good on their policy?


Sadly, it sounds like it's time to get the legal system involved.

At the very least it seems like we should notify the BBB and the district attorney about the fraudulent practices being run here to keep others from having their money stolen.


Thoughts about what to do next?


--Les
 

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Not honoring previous commitments (even if by a different corporate entity) is no way to launch a newly-acquired product.


If VISR is serious about this product, they would be better off to meet those commitments, thereby gaining some satisfied customers, instead of incurring the wrath of some of the world's most committed and articulate early adopters.
 

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One thing I am not understanding here: is Cynus still in business?


If so, why don't they have the liability for meeting their contracts with customers? You cannot simply jettison a liability by selling a product in this way.


Cygnus either must make it right with the pre-buyers or stand liable for their loses.
 

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I'm not sure how all this will affect the Panamorph / Panamorph II program, but I think that it's a whole lot better for everyone involved that Cygnus and VISR are trying to honor the pre buy commitments. I'm one of the lucky ones that has received a Panamorph, but I'm also on the Pre-Buy list for a Panamorph II. My mama always said that life is like a box of chocolates...


Of course, we all have known that things haven't been going all that smooth, but up until now I'm not sure there has been a whole lot of reliable information about the realities of what was going on out there in Michigan. And unlike the technical delays of the previous year, the last few months seem to show that the economics of manufacturing are the limiting factor. Rob's PUD site did/does draw attention to the inconsistencies of the situation, but from my perspective as a pre-buy participant that has taken delivery and is also still waiting for a lens, it could be worse. Cygnus could have chosen to close up the shop and write everything off as a learning experience.


A couple good points that could be found in the announcement are

1) The FREE upgrade program for pre buy participants

2) There are now three people who can be strung up if this doesn't work out like everyone would like it to ;)


It also seems like going after the dealer market will tend to expose more end users to the benefits of the lens since dealers will be putting these things in showrooms. Too bad the price is creeping into the "used car" range though.


EDIT:


I read the VISR statement as meaning that they ARE honoring the Cygnus pre-buy commitments, but they are not going to sink a ton of money into the completion of the pre-buy program unless there is significant interests in the lens from the dealer market. Cygnus is still in business and has sold/given the manufacturing rights to the Panamorph program back to VISR from which the technology was licensed in the first place. A transfer of assets between independent companies??? Does that imply that contractual obligation follow along with the transfer of asserts? Generally speaking, I don't think that contractual obligations would follow a company's assets unless the company was bought outright. It's all complicated by the relationship that Shawn has with both companies. However, it's my understanding that Cygnus would still be responsible for completing the terms of the sales contract or provide a refund. It may be the case that if enough people demand immediate refund it will put Cygnus out of business in a hurry, and that may or may not change the position that VISR has taken with regards to the pre buy program.
 

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WRT the dealer program: the high-end dealers that I have known would be very reluctant to get into a business relationship with a company with this bad a record for delivery, support, and communication.


Like I said: this is no way to make a business happen!
 

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Here's my point of view, which compared to the other posts is practically a defense of Shawn:

Cygnus/VSR/etc. has no money. They cannot buy the parts they need to make Panamorphs.

The only way they can get the cash to make more Panamorphs is to sell more Panamorphs.

I'm assuming the marginal cost for making a Panamorph is relatively small, so each one that they do sell will generate enough cash flow to start trying to resolve the problem.


This reminds me of a company in bankrupcy, and we're the bond-holders. If we force them to honor the commitments they've made, the company can't, and it just goes under. The bondholders get practically nothing. Often, the bondholder will instead restructure the existing debts, and let the company skip some interest payments, etc. The hope is that the company will make some progress, generate some cash, and eventually the bondholders will get significantly more than they would have in a forced liquidation.


I think that describes pretty well our situation. We can say "No, don't sell any lenses until we prebuy customers get ours." It's clear we won't get any, Cygnus/"The Panamorph Team" will turn its toes up to the daisies, and the legal system will dice up whatever assets there are of Cygnus (I doubt there is much). If we go along with what Shawn proposes, maybe we'll get something close to what we signed up for (i.e. a lens, but year(s) late)...


I'm not getting emotional about this. Shawn screwed up bigtime from a business point of view. But he didn't take our money and embezzle it, he tried to do what we asked him to do. I have no reason to think he will succeed in his new proposal, but then again I see no advantage in taking him to court and trying to attack his business assets (which probably are non-existant).


Mike
 

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guys, even though i didn't go in on the prebuy, this sounds like the typical scam, that goes something like this "after you give money for something and don't get product, you start to threaten legal, etc.. so the company makes some new promises, shipping dates, etc... of course they come by and go, then more excuses, yada yada yada, then finally when everybody has had it, comes the last big excuse, usually it invloves giving the company more money to get the product out, but since no one will send them a dime more, its for every order we get we ship out or cancel a prebuy, just to keep everybody quiet, well i say you might as well proceed with legal action, and maybe end up getting a ISCO II powerbuy as its a great price
 

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Quote:
Originally posted by rlsmith
If VISR is serious about this product, they would be better off to meet those commitments, thereby gaining some satisfied customers, instead of incurring the wrath of some of the world's most committed and articulate early adopters.
I'm sure they would love to meet their prebuy commitments if they could. But it's clear they don't have the capital to do it.


Not immediately honoring the prebuys is I think a sign of desperation, not any kind of lack of commitment.


Mike
 

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Joe,


I'd love to agree with you.


But I don't see any reason why we should have any confidence in this new cast of characters. Shawn is still a participant and he has shown himself to be completely untrustworthy.


And the memo doesn't really do anything other than devalue the prebuyer position.


--Les
 
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