June 2002 - cypherpunks-legacy

cypherpunks,For the Ladies
by Jody Berdge 05 Jun '02

05 Jun '02

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Re: Palm security
by contrary 05 Jun '02

05 Jun '02

On Tue, 4 Jun 2002 16:58:16 -0400, "Adam Shostack" <adam(a)homeport.org> said: > I find myself storing a pile of vaugely sensitive information on my > palm. Where do I find the competent analysis of this? Perhaps this will help.. http://www.atstake.com/research/reports/index.html#pdd_palm_forensics -- contrary contrary(a)fastmail.fm -- http://fastmail.fm - No WWW (Wait-Wait-Wait) required

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(��) �� Ŀ�~~~~~~
by �� 05 Jun '02

05 Jun '02

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cypherpunks35,Natural Breast Enhancement
by Eugene Brown 05 Jun '02

05 Jun '02

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Preliminary thoughts on Zero Knowledge's planned public offering
by Declan McCullagh 05 Jun '02

05 Jun '02

>Date: Tue, 04 Jun 2002 17:48:45 -0700 >To: politech(a)politechbot.com >From: Declan McCullagh <declan(a)well.com> >Subject: Preliminary thoughts on Zero Knowledge's planned public offering > >Zero Knowledge's prospectus posted on the sedar.com site offers up an >unprecedented look at the financials of the company. I just read it; here >are some preliminary notes: > >* For the fiscal year June 30, 2000 to June 30, 2001, ZKS made Can$1 >million in revenue. They lost Can$36 million. >* In U.S. dollars, that's $650,000 revenue -- and a loss of $24 million. >* After layoffs, from the nine months ending March 30, 2002 (the most >recent numbers), the company made Can$1.7 million in revenue. But the net >loss was still Can$20 million. >* During the height of the Freedom product, revenue was only $400K/year in >software licenses. >* ZKS has leased (mostly in a 10-year lease) about 44,000 square feet of >office space in Montreal. At only 81 current employees, that's 543 >sq-feet/employee -- enough for a comfortable studio apartment for each >person. Only 4,000 square feet have been sublet. A football field, by >comparison, is about 50,000 square feet. >* Cash reserves are dwindling fast. As of June 30, 2001, ZKS had Can$15 >million in the bank. Now they have only Can$3 million. >* The company's current burn rate is almost, according to statement F-3, >as much as Can$2 million a month. Without a substantial revenue uptick or >a short-term loan, ZKS could simply run out of cash. To be fair, some of >that revenue could come in with new deals with HP and other companies >described in the prospectus. >* Can$1.3 million/year of remaining cash will be eaten up by four fat >executive salaries that remain hefty, even given the dismal financial >situation. Each of the three Hill family members gets Can$270K a year, >with the CEO receiving Can$470K. >* If my calculations are correct, and barring a cash infusion from >licensing, soon ZKS' liabilities, such as accounts payable and long-term >debt, will be more than the company's assets. > >Question: Given the above, what's the future of an IPO? (Keep in mind that >ZKS had also planned an abortive IPO in 2000.) > >Here's the prospectus: >http://www.sedar.com/command_servlet?cmd=GetFile&lang=EN&documentType=Preli… > >Previous Politech message: >http://www.politechbot.com/p-03618.html > >Below is an article that David Akin wrote before the prospectus was >published based on interviews with ZKS execs. > >-Declan > >--- > >Report on Business: Canadian >Zero-Knowledge learns a valuable lesson Dot-com firm finds no amount of hype >can replace old-fashioned business values, DAVID AKIN reports >DAVID AKIN > >05/13/2002 >The Globe and Mail >Metro >B5 > > >A little over a year ago, Zero-Knowledge Systems Inc. of Montreal was on top >of the dot-com world in Canada. > >It had just concluded a third round of financing, bringing the total amount >of money raised by the privacy software maker to $54-million (U.S.). > > >Its employee base had soared to 247 from 83 in less than a year. The >privately held company and its products were getting lots of positive press >in the important U.S. market. In Canada, Austin and Hamnett Hill, company >co-founders and brothers, made the cover of R.O.B. Magazine and Shift. And >Austin was asked to advise Finance Minister Paul Martin on the technology >economy. > >Then the dot-com bubble burst. Markets crashed, investors got nervous, and >technology spending dried up. > >For all its promise, Zero-Knowledge found itself in a heap of trouble. But >while dozens of its Internet and software peers in Canada folded, >Zero-Knowledge held on. The founding family -- Austin and Hamnett are >executive vice-presidents and father, Hammie, is the chief financial officer >-- brought in new executives to help. > >Now, more than a year after the bubble burst, the story of Zero-Knowledge is >a business school lesson -- that no amount of hype, publicity, and dot-com >pixie dust can replace the good, old-fashioned value that businesses succeed >when they sell things that a lot of people find useful. > >Company executives concede that, until early last year, the company operated >under flawed governing assumptions: that there's an infinite supply of >capital; speed and size are everything; and, because privacy was the Next >Big Thing, all they had to do was build the best privacy protection software >and the technology would sell itself. > >Those assumptions were similar to what guided most dot-com startups of the >late 1990s and many of their venture capital partners. > >Now, Zero-Knowledge executives cite different guiding principles. First, the >company will do only what someone is willing to pay for. Second, it >recognizes that capital is scarce and must be earned. Third, it measures >success by traditional benchmarks such as revenue, cost containment, and >earnings. > >Company CEO Tamas Hevizi said the lesson for Zero-Knowledge was that >consumers, by and large, don't make buying decisions based on technology. >"But customers differentiate in who they buy from. That was the big shift >for us. Consumers tend to buy a lot more from people they're already buying >from. It was something we learned but I think a lot of companies didn't >learn that. They assume you can come out with the greatest new product, and >all of a sudden everyone's going to rush to you. That's just not how it >happens." > >That lesson wasn't cheap. Zero-Knowledge said it has gone from a peak gross >burn rate of $3-million (Canadian) in December, 2000, to a rate this spring >of about $1-million a month. > >"Part of the problem was that the measures for success then were how much >money you raised, how many times you got your name in the press, and how >much visibility you had," Austin Hill said. "So even though we were blowing >through $3-million a month at our peak, there was still this perception >that, oh well, that's nothing compared to the [Silicon] Valley companies." > >Said Hammie Hill: "No one was saying: What are your revenues going to be >this year? What are your projected earnings?" > >At first, the company thought revenue would come from a consumer privacy >protection product called Freedom, which it sold on a subscription basis for >about $50 (U.S.) a year. But despite critical acclaim for Freedom, it was a >bust, selling less than 15,000 units. > >And so the company brought in a new CEO -- Mr. Hevizi had been a Silicon >Valley-based Ernst & Young consultant -- then shut down the Freedom product >and went back to the drawing board. > >Layoffs soon followed, and today 80 people work for the company, down from >last year's peak of 247. > >Success -- on a much smaller scale than first hoped -- is now within reach, >the company said. A deal with Hewlett-Packard Co. of Palo Alto, Calif., will >put Zero-Knowledge software on three million computers. Deals have also been >signed, but not yet announced, with a major North American financial >institution for the sale of 2.5 million software licences; with a major >European telecommunications company and a major North American telco for >more than six million licences; and with a networking equipment vendor for >three million licences. > >But Zero-Knowledge has less than $5-million (Canadian) in cash on hand. >Sales, though growing quickly, totalled only about $300,000 in March. The >company wants one more round of financing to get it to the point where it is >generating its own positive cashflow. Executives say they expect to sign the >fourth financing deal soon. > >The company won't say when it expects to be cash-flow positive except to say >there is -- finally -- light at the end of the tunnel. > >Zero-Knowledge said that for the nine months ended in March, it lost >$19.3-million on sales of $1.7-million versus a loss of $26.1-million on >about $720,000 in the same period last year. > >The company cautions that it's tough to compare the two years because of >significant one-time restructuring costs that occurred last year and because >the 2001 strategy to generate revenue was shelved. > >Through three rounds of financing between September, 1999, and March, 2001, >Zero-Knowledge raised $52-million (U.S.) from some top Silicon Valley >venture capitalists and some Canadian institutional investors. Net >shareholders' equity at the end of March, according to Zero-Knowledge's >financials, stood at $4.2-million (Canadian). > >With a long uphill climb before its existing shareholders see a return, the >company has had to show prospective new investors it knows what it's doing. >"As we are attracting new investors," Mr. Hevizi said, "we have to paint a >path for them for growth, for revenue generation and ultimately for earnings >growth and profitability." David Akin is national business and technology >correspondent for CTV News and a contributing writer to The Globe and Mail.

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(Fwd) Re: Palm security
by jayh＠1st.net 05 Jun '02

05 Jun '02

I've been using Cryptopad 3 (Memo pad replacement) and like it (uses Eric Young's Blowfish). v4 is available (freeware) http://www.freewarepalm.com/utilities/cryptopad.shtml http://www.palmblvd.com/software/pc/CryptoPad-2000-10-12-palm-pc.html jay On 4 Jun 2002 at 16:58, Adam Shostack wrote: > I find myself storing a pile of vaugely sensitive information on my > palm. Where do I find the competent analysis of this? Ideally, I'd > like to be able to protect things that I move into a "sensitive" area > (passwords), and maybe select items in other places that I want to > encrypt. I don't really want to have to enter a password each time I > look at my schedule and todo lists. > > Someone suggested YAPS > (http://www.palmblvd.com/software/pc/Yaps-2000-11-7-palm-pc.html) are > there others I should look at? > > Adam > > > -- > > > -- > "It is seldom that liberty of any kind is lost all at once." > -Hume > > ------- End of forwarded message -------

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$10.00 Gas Notice #7734228, please claim by Tuesday June 11, 2002
by EAASI 05 Jun '02

05 Jun '02

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Website Promotion Package - Proven Turnkey Internet Business For You!
by Website_Promo88781＠gte.net 05 Jun '02

05 Jun '02

1 0

cypherpunks,Larger, Shapelier Breast Without Surgery
by Rosario Brown 05 Jun '02

05 Jun '02

================================= Guaranteed to increase, lift and firm your breasts in 60 days or your money back!! 100% herbal and natural. Proven formula since 1996. Increase your bust by 1 to 3 sizes within 30-60 days and be all natural. Click here: http://218.7.157.206:100 Absolutely no side effects! Be more self confident! Be more comfortable in bed! No more need for a lift or support bra! 100% GUARANTEED AND FROM A NAME YOU KNOW AND TRUST! ************************************************** You are receiving this email as a double opt-in subscriber to the Standard Affiliates Mailing List. To remove yourself from all related email lists, just click here: http://218.7.157.206:100/unsubscriber.asp?userid=cypherpunks@netscape.net

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Mortgage Rate Quotes
by Quotes123 05 Jun '02

05 Jun '02

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