Sentry360 Bankruptcy

By: John Honovich, Published on Nov 30, 2017

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.

*********, * **-***** ***** surveillance ************, **** ****-***** for *** ********* *******, has ***** *** ******* 7 **********.

** **** ****, ** review *** ******, ***** feedback **** *** ******* and ******* *** ****** the ******* *****.

[***************]

Bankruptcy ******

********* ***** *** ********** (*** ****** ***'* ********** filing).** * ******* * bankruptcy, *********'* ****** **** ** **** *** to *** *** ******* (creditors) unlike ** ******* **, ***** ******* negotiate with ********* ** ***** the ***** ** *** loan ******* ****** ** liquidate ******.

Support ********

*** ******* **** ** direct ******* ******** *** existing ********* ** *** CEO, *** ********* ** **********@*********.***.

Cause ** *******

********* **** **** *** cause ** *** ******* was *** ** * development ******* **** **** apart ******** ** ** acquisition **** *** *** close:

********* **** * ***** investment ** ********** *** breed ** ****** (*****) **** ******** ********.  This *** * **** project **** **** *** internal *********** *** ******** (hiring ** ******* *********** team) **** ********** **** apart.  *** ******* *********** many ******** *** ***** with * ******* *** counter ******* **** *** outside *********** *******. ** the ****** ** **** Sentry360 *** ********** ** be ******** ** ******* named ******.  *** *********** was ******* ** *** and ** *********** *** this *********** ** *** asked ** ****** *** Sentry360 ****** *** ******* lawsuit **** *** ******* development *******.  *********** *** settlement *** ************* **** than *** *********** ***** it **** ***** ** the **** ** *** that ****** ** ******* no ********* ********* ******.  Unfortunately, ****** ******* ** (after *** ******* *** settled) ******** *** *** indefinitely.  ** *******, **** the ******** *** ******** investments ** *** *** technology, **** ** ***** **** and ********** ********** ********* ****** insolvent.  

*******

*********'* **** ******* *** ~$1.8 *******, ********* ** just **** $*.* ******* in ****, ********* ** its ********** ******:

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

*-*********, ** ********** *********** firm ******** **** ** ***** surveillance, *** ****** ** Sentry360's ******* ********.

** ******* **** *** the **** **** ********* describes ** ******* ** the ******* **** **** apart *** **** ************ sued **** (**** - above *** ****** **** the ***** *** *** claim ** * ***** judgment). 

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

*********'* ************ ******** *** not **** **** *** "is ** *** ***** of *** ********** ******* and *** ***** ******* is ***** ** *****."  

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

*********'* *** ******** *** following *********:

**** *** ******** ** any ******** **’* *********** to **** * **-**** run ****** ** *** a ******* *** ********** that’s ******* **** ** is.  *’* *** ***** to ***** * *** story ** ***** ******* unfairly, *’* *** ***** to ***** *** ******* or *********** *** *’* certainly *** ***** ** blame *****.  * ******* Sentry360 *** ** ** father’s ******** **** * was ** ***** *** with ** ********, ** family, *** ** ***********- only *** ******* ** change *** ***** ************ industry *** ****** ********* different **** *** ****.  It ***** **** ******* laughed *** ** ** directors ******* ** *** suggestion ** ******* * Mjpeg ********* “**” ****** on ***** *******, ********* an ********* ** *** dark (** ****** ***** before ** *** *****) and ******* ** ***-**** after ***-**** ******* *** every ****** ** ********** they **** ****** **** their ******* ************ ******.

********** ** ***** *** blind-spot ******* **** *** fisheye ********* ********* *** several ********** **** *** years ********** ** *** Pre-Onvif & ***-******-**-*-**** (*********/*********) era.  ***** **** *** days ***** ***’* **’** made ****** **** *******, ip ****’* **** ************ developed (*** ****-******) *** there *** ** ******** method ** ********* ********.  Every *** ** ****** to ********* **** *** a *********** ********* ****-****, different ************ *** ****** us ** ***** *** re-write *** ********* *** (software-development-kit) ** *** ****** of ******** * ********** partner *** ******* *** gate ** **** *** 360-degree ******* **** ***** community ** ****** *******, system ***********, *** ************ channels.  ******* ****- ***, this *** ***!  * got *** *********** ** work **** *** ******** in *** ***** ************ world, ****** ****** ********** and **** ****** **** companies ** *******.  ***** ** see ****** ***** ****** brand **** ** **** Dewarping ******* ****** *** some **** **** ***** ‘own’ ******-**** *********.  **** brands *** **** *** the *** **** ******** ‘make’ ***** ******* *** riddled **** ********* ********** and *************- ***** ***’* necessarily * ********.

** ****** ***** *** tech ** ***** * still **** ******** **** the **** *** ***** the ******** ***** ** the ***-***** **** ***.  Whether ****’* **** ****** technical ******* *** ******* or ************ **** ****** security ***** **** ********** data **’* *** ***** the ********.  * **** this ******** **** * passion *** *** ***** I ***** ***** ** change ** ** **** more ****** *** *** not ****** ** **** the ******** *** ******- even ** **** ****.  Being ********* ***** ****** opinions ** * *** strategy (*’* ******).

*******, **** *’* **** proud ** *** ******* to ** **** *** technology ** ******* ** awards ** ********.  *’* proud ** *** *** we ******, *** *** we ******** *** **** importantly *** *** ** treated *** *********, ********, and *********.  ******** **** made **** *** ***** and * **** ******** that ** **** ** effort ** ***** **** them *** ***** ****** on *** ******* *** continued ** ******** ********* even ** *** **** year *********** ******** ******* and ******* **** ** launching * *** ******* (we ********* **-*****).   ******* all ***** ********** *** more (**** ** ***** I’m ******* ***) ********* made * ******** ***** name *** ********* ** a ***** ******** *** in *** ***, *’* happy ** *** ** affected ******’* ***** *** the ******.  

******** 

***** ** ** *** know ****** ***** **** **** wrong **** *** ***** project, *** *** ****** historically *** ***** ********* to ******** ***** ***** entry **** ********* *******. Sentry360 *** ** *** space ****** **** ** al **** **** *** segment *** ***** ***** through **** *** ********* (****** how ******* *** ******** - *** ***** ********* focused ** ***-******* ** cameras ** *** **** era). *** *******,*** **** ********* **** results****** ******** ** **** performance.

******* ****** ******* ** their ******* *****, ********* pivoted * *** ***** (for *******, **** **** cameras), ****** **** ******* cameras *** **** ******** the ******** ******* **** mention. **********, ******, ** believe **** *** ********** of ***** ** *********** panoramic ********** *** *** **** as ** *** **** for * ****** ** others *** ******** **** segment.

Comments (13)

Undisclosed #1

11/30/17 01:36pm

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.

 

Avatar

Thomas Carnevale

In reply to Undisclosed #1 | 11/30/17 02:35pm

Informative button 👇

Avatar

Sean Nelson

Nelly's Security | In reply to Undisclosed #1 | 11/30/17 03:36pm

Can you expound?

Avatar

Thomas Carnevale

In reply to Sean Nelson | 11/30/17 05:11pm

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

Undisclosed Integrator #2

11/30/17 02:05pm

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.

Avatar

Thomas Carnevale

In reply to Undisclosed Integrator #2 | 11/30/17 02:35pm

Thank you.

Undisclosed #3

11/30/17 02:05pm

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

John Honovich

IPVM | In reply to Undisclosed #3 | 11/30/17 02:11pm

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.

Avatar

Thomas Carnevale

In reply to Undisclosed #3 | 11/30/17 02:53pm

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

Undisclosed Manufacturer #4

11/30/17 02:35pm

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

Down with dignity.

Avatar

Brian Rhodes

IPVMU Certified | 11/30/17 03:31pm

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

Avatar

Thomas Carnevale

In reply to Brian Rhodes | 11/30/17 03:48pm

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

Undisclosed #5

In reply to Brian Rhodes | 11/30/17 08:12pm

CPU melting version:

10 GOTO 10

/RUN

 

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Related Reports

Sales Turnover At Anyvision on Feb 13, 2019
Anyvision raised a $43 million Series A and according to their newest investor: what you need to do is push the gas pedal and build an...
Qognify Dropping Seetec and OnSSI Brands on Mar 01, 2019
Qognify is dropping both the Seetec and OnSSI brands, just over 2 months after acquiring OnSSI / Seetec and a week after sweeping cuts to the...
Silicon Valley Cybersecurity Insurance Startup Coalition Profile on Mar 20, 2019
Many industry people believe cybersecurity insurance is not worth it, as the voting and debate in our Cybersecurity Insurance For Security...
Securadyne CEO: IPVM 'Entertaining For An Ignorant Few' on Apr 16, 2019
Securadyne's CEO Carey Boethel is unhappy with IPVM's report - Failed Integrator Rollup, Securadyne Sells to Guard Giant Allied. Indeed, he...
Verkada Salesman: IPVM "Stuck In A The Stone Age" on Apr 25, 2019
Verkada is 'tackling dinosaurs' and battling those, like IPVM, who are 'stuck in a the stone age'. Verkada's recent sales recruiting promotion...
"New" Arecont Fixes Failures "Without A Fight" on Jun 05, 2019
The "old" Arecont was infamous not only for its camera failures but for making their "partners" fight to get them fixed. IPVM drew the ire of...
How To Quickly Research An Unknown Company on Jul 23, 2019
There are hundreds of companies in the physical security markets, ranging from a flood of new startups to small companies that may or may not be...
Wyze Fires Back at JCI - Your Patents Are Invalid, Pay All Of Our Costs on Nov 18, 2019
Goliath JCI targeted startup Wyze this summer alleging the fast-growing consumer startup was violating a slew of JCI's patents. Now, Wyze has...
Pelco Is "Bringin Blue Back" on Dec 17, 2019
Pelco is "BRINGIN' BLUE BACK", according to Pelco's new CEO Kurt Takahashi’s presentation at the Imperial Capital Security Investor...
Verkada Salesman Falsely Alleges Competitor Bankruptcy on Jan 02, 2020
A Verkada salesman falsely told a large end-user that the user's VMS provider faced bankruptcy. Verkada management acknowledged the error to...

Most Recent Industry Reports

Hazardous & Explosion Proof Access Control Tutorial on Feb 27, 2020
Controlling access to hazardous environments requires equipment meeting specific ratings that certify they will not start fires or will not...
Motorola / Avigilon Drops ISC West on Feb 26, 2020
Motorola Solutions has pulled out of ISC West 2020 effective immediately, because of coronavirus concerns, IPVM has learned. This is done amidst...
Cancel or Not? Industry Split Over ISC West on Feb 26, 2020
The industry is split, polarized, over whether ISC West 2020 should run or be canceled. New IPVM survey results of 400+ respondents show heated...
Coronavirus Hits Sony, Bosch Says Switch on Feb 26, 2020
Sony's fall in video surveillance has been severe over the past decade. Now, they may be done. In this note, we examine Bosch's new...
Video Surveillance Cameras 101 on Feb 25, 2020
Cameras come in many shapes, sizes and specifications. This 101 examines the basics of cameras and features used in 2020. In this report, we...
Favorite Video Analytic Manufacturers 2020 on Feb 25, 2020
Video analytics is now as hot as ever, driven by the excitement of advancing deep learning offers. But what are actually integrator's...
Latest London Police Facial Recognition Suffers Serious Issues on Feb 24, 2020
On February 20, IPVM visited another live face rec deployment by London police, but this time the system was thwarted by technical problems and...
Masks Cause Major Facial Recognition Problems on Feb 24, 2020
Coronavirus is spurring an increase in the use of medical masks, which new IPVM test results show cause major problems for facial recognition...
Every VMS Will Become a VSaaS on Feb 21, 2020
VMS is ending. Soon every VMS will be a VSaaS. Competitive dynamics will be redrawn. What does this mean? VMS Historically...
Video Surveillance 101 Course - Last Chance on Feb 20, 2020
This is the last chance to join IPVM's first Video Surveillance 101 course, designed to help those new to the industry to quickly understand the...

What IPVM Is

The world's leading authority on video surveillance, with 200,000+ visits monthly.

  • Articles on cameras, video analytics, VMS, and trends
  • Tests showing actual performance and problems
  • Courses in surveillance, access control, etc
  • Camera Calculator for designing systems

Dedicated To Independence

We're dedicated to staying independent and objective. We're the only industry source to refuse any and all advertisements, sponsorship, and consulting from manufacturers. Why?