SSD manufacturer OCZ is currently in survival mode but has received good news from NASDAQ, it remains listed on the stock exchange. OCZ is struggling with their finances, the company has not filled it's periodic reports which means it's shareholders are unaware of OCZ's financial situation. If the company does not provide numbers by the 16th of September 2013, OCZ will be delisted from NASDAQ nevertheless.
The troubles of the company seem to have started when OCZ's former CEO and co-founder Ryan Petersen left the company. While the reasons of his departure are unclear, soon after a new CEO was put in place it became clear that previously reported revenues were more positive than the actual revenues of the company.
At the moment the company has new people in place that are trying to clear up the books and attract new capital to keep the company running. OCZ received a $30 million loan from technology growth capital provider Hercules and under some terms OCZ should get an additional loan of $20 million today. Unfortunately it's currently unclear if OCZ has met the requirements and if Hercules will inject the additional $20 million.
While OCZ is currently delivering SSDs that perform very well at a good price, it's unclear if the company will survive the coming year. In case it does not get the additional cash, it could be up for sale and a plausible scenario would be that the company gets bought which would be a great loss for the numerous fans of OCZ SSDs. In the meanwhile stockholders seem to be positive as OCZ stocks are up 4% at the time of writing.
