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Good for Kodak for responding quickly AND being transparent about the numbers involved. FWIW, discussions about Kodak's decline have been going on for years. T

Good for Kodak for responding quickly AND being transparent about the numbers involved. FWIW, discussions about Kodak's decline have been going on for years. This thread is from 2016: https://news.ycombinator.com/item?id=12111597 https://news.ycombinator.com/item?id=12111597

dylan604 1y ago
In today's post-truth alt-facts world, will this actually do anything to convince otherwise?
- johnnyanmac 1y ago
  In this world where business's make bold faced lies,I'm not even sure I fully believe this. It could be a half truth like "we aren't going bankrupt... But we're gonna look at being acquired by private equity in the next few months". But this is a film/camera company so I guess I have no skin in this game anyway. Just giving a bit of scrutiny based on other experiences like this.
  - m3047 1y ago
    Kodak at one time was a powerhouse of applied chemistry, curating a huge library of chemical compounds. I know this because a particular early biotech company rented out the processes (in their own labs) they were developing so that Kodak could test some of these chemicals for particular forms of biological activity. That's how the biotech managed to have cash flow before they were allowed to let any material whatsoever out of the lab, let alone near humans. (I also worked for Kodak for a brief time supporting a "dark line" where they packaged photosensitive products. A kick in the ass, great fun, very disciplined, and writing code which ran machinery in a black box!)
- cubefox 1y ago
  We will see. The Kodak stock is still 22.5% down over the past 5 days.
abirch 1y ago
This is from Kodak's Q2 Financial report: As a result, these conditions raise substantial doubt about the Company’s ability to continue as a going concern as of the issuance date of the Company’s second quarter financials. https://www.kodak.com/en/company/press-release/q2-2025-financial-results/ https://www.kodak.com/en/company/press-release/q2-2025-finan... As Walter Bagehot said "Every banker knows that if he has to prove that he is worthy of credit, however good may be his arguments, in fact his credit is gone..."
- amanaplanacanal 1y ago
  So... A report that is legally required to be accurate, vs a press release. Interesting.
  - formerly_proven 1y ago
    no plans to vs. may not be able to are qualitatively different statements.
  - aidenn0 1y ago
    If nothing gets restructured, they almost certainly will be insolvent, but plans for restructuring are well along the way.
- nxobject 1y ago
  To be fair, "[substantial] doubt about the Company’s ability to continue as a going concern", at least for audited statements, is accounting jargon with a limited and technical definition. Notably, it doesn't take into account debt restructuring or other negotiations with debtors -- which is what TFA states may happen; notably with pension obligations. https://pcaobus.org/oversight/standards/auditing-standards/details/AS2415 https://pcaobus.org/oversight/standards/auditing-standards/d...
  - nxobject 1y ago
    *sorry, I meant "creditors".
b-stockman 1y ago
I have no insider information, but with all of this I’m thinking BUY BUY BUY!!! Why else would people be trying to hurt their stock other than to make an opportunity for someone to swoop in and make a killing?
- FredPret 1y ago
  Short-sellers sometimes publish real or made-up negativity about a stock so as to push the price down. Then they can close out their positions at a profit regardless of whether the underlying business is any good. In fact, it's kind of better to pick a poor business for this since it's less likely the stock will spike organically for some reason.
- gchamonlive 1y ago
  That's gambling. The right way to invest is to see if you trust the company to make a profit long term, not buying into speculation. It can go right and you make a buck, or it can go spectacularly wrong. Just like with gambling.
stronglikedan 1y ago
I've worked in an industry served by Kodak for 20 years, and it's been that way at least that long. I always knew it was pure speculation and BS, because we never sought out another vendor to replace them, "just in case". Their customers know they aren't going anywhere.
sotix 1y ago
It's legally required to report a going concern when you are publicly traded. This is funny because it's a bit of the reverse, but I bet their accountants deemed publishing this as a requirement.

dylan604 1y ago

In today's post-truth alt-facts world, will this actually do anything to convince otherwise?

johnnyanmac 1y ago
In this world where business's make bold faced lies,I'm not even sure I fully believe this. It could be a half truth like "we aren't going bankrupt... But we're gonna look at being acquired by private equity in the next few months". But this is a film/camera company so I guess I have no skin in this game anyway. Just giving a bit of scrutiny based on other experiences like this.
- m3047 1y ago
  Kodak at one time was a powerhouse of applied chemistry, curating a huge library of chemical compounds. I know this because a particular early biotech company rented out the processes (in their own labs) they were developing so that Kodak could test some of these chemicals for particular forms of biological activity. That's how the biotech managed to have cash flow before they were allowed to let any material whatsoever out of the lab, let alone near humans. (I also worked for Kodak for a brief time supporting a "dark line" where they packaged photosensitive products. A kick in the ass, great fun, very disciplined, and writing code which ran machinery in a black box!)
cubefox 1y ago
We will see. The Kodak stock is still 22.5% down over the past 5 days.

abirch 1y ago

This is from Kodak's Q2 Financial report: As a result, these conditions raise substantial doubt about the Company’s ability to continue as a going concern as of the issuance date of the Company’s second quarter financials. https://www.kodak.com/en/company/press-release/q2-2025-financial-results/ https://www.kodak.com/en/company/press-release/q2-2025-finan... As Walter Bagehot said "Every banker knows that if he has to prove that he is worthy of credit, however good may be his arguments, in fact his credit is gone..."

amanaplanacanal 1y ago
So... A report that is legally required to be accurate, vs a press release. Interesting.
- formerly_proven 1y ago
  no plans to vs. may not be able to are qualitatively different statements.
- aidenn0 1y ago
  If nothing gets restructured, they almost certainly will be insolvent, but plans for restructuring are well along the way.
nxobject 1y ago
To be fair, "[substantial] doubt about the Company’s ability to continue as a going concern", at least for audited statements, is accounting jargon with a limited and technical definition. Notably, it doesn't take into account debt restructuring or other negotiations with debtors -- which is what TFA states may happen; notably with pension obligations. https://pcaobus.org/oversight/standards/auditing-standards/details/AS2415 https://pcaobus.org/oversight/standards/auditing-standards/d...
- nxobject 1y ago
  *sorry, I meant "creditors".

b-stockman 1y ago

I have no insider information, but with all of this I’m thinking BUY BUY BUY!!! Why else would people be trying to hurt their stock other than to make an opportunity for someone to swoop in and make a killing?

FredPret 1y ago
Short-sellers sometimes publish real or made-up negativity about a stock so as to push the price down. Then they can close out their positions at a profit regardless of whether the underlying business is any good. In fact, it's kind of better to pick a poor business for this since it's less likely the stock will spike organically for some reason.
gchamonlive 1y ago
That's gambling. The right way to invest is to see if you trust the company to make a profit long term, not buying into speculation. It can go right and you make a buck, or it can go spectacularly wrong. Just like with gambling.

stronglikedan 1y ago

I've worked in an industry served by Kodak for 20 years, and it's been that way at least that long. I always knew it was pure speculation and BS, because we never sought out another vendor to replace them, "just in case". Their customers know they aren't going anywhere.

sotix 1y ago

It's legally required to report a going concern when you are publicly traded. This is funny because it's a bit of the reverse, but I bet their accountants deemed publishing this as a requirement.