DailyDOOH hosted a bunch of Canadians for dinner last night and Pixman and the fact that they don’t seem to have a clue as to who they are and what they are doing was a topic of conversation so funny timing this morning to receive a press release from them…
MONTREAL, OCTOBER 7, 2009 – Facing global economic slowdown and the decline of activities in the field of advertising, Pixman Nomadic Media Inc. (TSX-V: “PMN”) (“Pixman”) announces a significant restructuring which includes a reduction of its activities to focus on recapitalizing of the corporation, among other things, and to support the development of its new applications for mobile devices
There’s no real details in the press release as to what they will do but it looks like they will be letting people go as they say things like “Consequent to the weak sales performance over the last three quarters, explained by the global economic slowdown and the decline of the sector in which Pixman operates, the Board of Directors has decided to act quickly and reduce the total expenditure of the corporation to ensure the continuance of the business”
The press release went on “During this period of restructuring, Pixman will maintain certain essential activities, such as customer service and will support the execution of existing contracts. Pixman must, however, reduce significantly all its costs of operation and must therefore reduce temporarily its workforce to tackle this critical period”
Finally “Alongside these organizational changes, Pixman’s management will carry out a financial restructuring involving a recapitalization that is necessary for the development of the Pixpal® applications.”
Pixnet has stuffed ’em we think, it’s nothing special in the digital signage world and it’s hard to see how folks carrying screens like Giraffes and all the other Pix products fit together into anything cohesive.