Sentry360 Bankruptcy

By John Honovich, Published Nov 30, 2017, 08:09am EST (Info+)

Sentry360, a US-based video surveillance manufacturer, most well-known for its panoramic cameras, has filed for Chapter 7 bankruptcy.

In this note, we review the filing, share feedback from the company and analyze the issues the company faced.

Bankruptcy ******

********* ***** *** ********** (*** ****** ***'* ********** ******).** * ******* * **********, *********'* ****** **** ** **** *** ** *** the ******* (*********) ****** ** ******* **, ***** ******* negotiate with ********* ** ***** *** ***** of *** **** ******* ****** ** liquidate ******.

Support ********

*** ******* **** ** ****** ******* requests *** ******** ********* ** *** CEO, *** ********* ** **********@*********.***.

Cause ** *******

********* **** **** *** ***** ** the ******* *** *** ** * development ******* **** **** ***** ******** by ** *********** **** *** *** close:

********* **** * ***** ********** ** developing *** ***** ** ****** (*****) **** ******** ********.  **** *** a **** ******* **** **** *** internal *********** *** ******** (****** ** outside *********** ****) **** ********** **** apart.  *** ******* *********** **** ******** and ***** **** * ******* *** counter ******* **** *** ******* *********** company. ** *** ****** ** **** Sentry360 *** ********** ** ** ******** by ******* ***** ******.  *** *********** was ******* ** *** *** ** preparation *** **** *********** ** *** asked ** ****** *** ********* ****** the ******* ******* **** *** ******* development *******.  *********** *** ********** *** significantly **** **** *** *********** ***** it **** ***** ** *** **** to *** **** ****** ** ******* no ********* ********* ******.  *************, ****** decided ** (***** *** ******* *** settled) ******** *** *** ************.  ** summary, **** *** ******** *** ******** investments ** *** *** **********, **** of ***** **** *** ********** ********** ********* ****** insolvent.  

*******

*********'* **** ******* *** ~$*.* *******, declining ** **** **** $*.* ******* in ****, ********* ** *** ********** filing:

Largest ******** *-*********

*-*********, ** ********** *********** **** ******** **** ** ***** ************, *** ****** ** *********'* ******* creditor.

** ******* **** *** *** **** that ********* ********* ** ******* ** the ******* **** **** ***** *** that ************ **** **** (**** - above *** ****** **** *** ***** for *** ***** ** * ***** judgment). 

Intellectual ******** *** ****

*********'* ************ ******** *** *** **** sold *** "** ** *** ***** of *** ********** ******* *** *** whole ******* ** ***** ** *****."  

Statement **** ********* ***

*********'* *** ******** *** ********* *********:

**** *** ******** ** *** ******** it’s *********** ** **** * **-**** run ****** ** *** * ******* but ********** ****’* ******* **** ** is.  *’* *** ***** ** ***** a *** ***** ** ***** ******* unfairly, *’* *** ***** ** ***** the ******* ** *********** *** *’* certainly *** ***** ** ***** *****.  I ******* ********* *** ** ** father’s ******** **** * *** ** years *** **** ** ********, ** family, *** ** ***********- **** *** passion ** ****** *** ***** ************ industry *** ****** ********* ********* **** the ****.  ** ***** **** ******* laughed *** ** ** ********* ******* at *** ********** ** ******* * Mjpeg ********* “**” ****** ** ***** network, ********* ** ********* ** *** dark (** ****** ***** ****** ** was *****) *** ******* ** ***-**** after ***-**** ******* *** ***** ****** of ********** **** **** ****** **** their ******* ************ ******.

********** ** ***** *** *****-**** ******* with *** ******* ********* ********* *** several ********** **** *** ***** ********** in *** ***-***** & ***-******-**-*-**** (*********/*********) era.  ***** **** *** **** ***** pcb’s **’** **** ****** **** *******, ip ****’* **** ************ ********* (*** open-source) *** ***** *** ** ******** method ** ********* ********.  ***** *** we ****** ** ********* **** *** a *********** ********* ****-****, ********* ************ and ****** ** ** ***** *** re-write *** ********* *** (********-***********-***) ** the ****** ** ******** * ********** partner *** ******* *** **** ** sell *** ***-****** ******* **** ***** community ** ****** *******, ****** ***********, and ************ ********.  ******* ****- ***, this *** ***!  * *** *** opportunity ** **** **** *** ******** in *** ***** ************ *****, ****** custom ********** *** **** ****** **** companies ** *******.  ***** ** *** ****** every ****** ***** **** ** **** Dewarping ******* ****** *** **** **** have ***** ‘***’ ******-**** *********.  **** brands *** **** *** *** *** that ******** ‘****’ ***** ******* *** riddled **** ********* ********** *** *************- which ***’* *********** * ********.

** ****** ***** *** **** ** going * ***** **** ******** **** the **** *** ***** *** ******** value ** *** ***-***** **** ***.  Whether ****’* **** ****** ********* ******* and ******* ** ************ **** ****** security ***** **** ********** **** **’* all ***** *** ********.  * **** this ******** **** * ******* *** one ***** * ***** ***** ** change ** ** **** **** ****** who *** *** ****** ** **** the ******** *** ******- **** ** they ****.  ***** ********* ***** ****** opinions ** * *** ******** (*’* guilty).

*******, **** *’* **** ***** ** has ******* ** ** **** *** technology ** ******* ** ****** ** received.  *’* ***** ** *** *** we ******, *** *** ** ******** and **** *********** *** *** ** treated *** *********, ********, *** *********.  Mistakes **** **** **** *** ***** and * **** ******** **** ** made ** ****** ** ***** **** them *** ***** ****** ** *** laurels *** ********* ** ******** ********* even ** *** **** **** *********** bodyworn ******* *** ******* **** ** launching * *** ******* (** ********* in-house).   ******* *** ***** ********** *** more (**** ** ***** *’* ******* out) ********* **** * ******** ***** name *** ********* ** * ***** industry *** ** *** ***, *’* happy ** *** ** ******** ******’* lives *** *** ******.  

******** 

***** ** ** *** **** ****** about what **** ***** **** *** ***** project, *** *** ****** ************ *** their ********* ** ******** ***** ***** entry **** ********* *******. ********* *** in *** ***** ****** **** ** al **** **** *** ******* *** never ***** ******* **** *** ********* (****** how ******* *** ******** - *** other ********* ******* ** ***-******* ** cameras ** *** **** ***). *** example,*** **** ********* **** ************* ******** ** **** ***********.

******* ****** ******* ** ***** ******* entry, ********* ******* * *** ***** (for *******, **** **** *******), ****** some ******* ******* *** **** ******** the ******** ******* **** *******. **********, though, ** ******* **** *** ********** of ***** ** *********** ********* ********** *** too **** ** ** *** **** for * ****** ** ****** *** targeted **** *******.

Comments (13)

E-Infochips, an outsourced development firm that does work in video surveillance, was listed as Sentry360's largest creditor.

Having been involved with E-Infochips previously on a development project, I would hire a random programmer from Craigslist before I would ever trust those guys to deliver a product to-spec and on-budget.

As soon as I saw the E-Infochips mention this went from a "how could this happen" story, to a "yeah, figures" story for me.

 

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Informative button 👇

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Can you expound?

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Sean I would love to.  Unfortunately at this time I've been advised to stay away from details on this subject.

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Wow, but yes I agree, being boxed into a niche, they probably should have aimed for being acquired earlier when what they had to offer was still innovative but starting to become duplicated.

I’m not going to share a sob story of being treated unfairly, I’m not going to blame the economy or competition and I’m certainly not going to blame China.

I have to respect that.

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Thank you.

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Can we assume Oncam's revenue is/was on-par with Sentry360's?

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Can we assume Oncam's revenue is/was on-par with Sentry360's?

I am sure Oncam's revenue is a lot higher than Sentry360, simply because they have quite a number of employees (e.g., LinkedIn shows 70). Even if it was half that, they would still have to generate far more than $2 million to support that.

That said, I don't know if Oncam's revenue is $5 or $10 or $20 million. They do seem to be winning some deals but still are clearly a niche player.

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I also can’t with any certainty speak to the revenue comparison.  I can help to examine our revenue (or other aspects of the company) so everyone can learn from it.

Here are some round #’s of historical revenue (no outside capital from investors.  Only capital raise was at the end of 2014 = 1M SBA7a loan.)

2005-2012 was a slow climb from 400K in first year with around +80K to 1.8M with +200K.

2013 was our best year @ 3.6M +800K

2014 we dipped to 2.7M -50K

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"I’m not going to blame the economy or competition and I’m certainly not going to blame China"

Down with dignity.

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developed an algorithm in the dark (in Visual Basic before it was Basic) 

Visual Basic pre-.Net was a terrible chore to do anything with.  Respect.

5 CLS

10 PRINT "BASIC melts my brain in an endless loop"

20 GOTO 10

/RUN

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:) Agreed.  The singe pointed me away from any aspirations of wanting to be a rockstar coder...

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CPU melting version:

10 GOTO 10

/RUN

 

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