Mahi Secrets Surface

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rustybridge 12/4/2012 | 7:53:58 PM

re: Mahi Secrets Surface Anyone out there hear any info about their third round? Last rumour I heard was that they were going to run out of money in August, but they got a bridge loan to tie them over until they close their third round...

Last rumour after that was that Goldman Sachs would round out the round to $100M, but only if they found a lead for the due diligence... and they were having trouble finding that lead.

People on the inside are pumped up with optimism as always, but it feels oddly like the Ironbridge enthusiasm where everyone was pumped up right through the Friday evening before they closed the doors on Monday morning...

What's the scoop here?

-rusty

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lighty 12/4/2012 | 7:52:13 PM

re: Mahi Secrets Surface has anybody heard about layoffs that occured at maple. Atleast 50 people have been let go. Optical switch gets canned and the whole optical team gets booted. what going to happen to the "godbox"

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knowinfo 12/4/2012 | 7:52:12 PM

re: Mahi Secrets Surface I have heard this is the 3rd round of layoffs. As many as 10 ASIC engineers have already left, and the product has been delayed. I guess another bites the dust in SV.

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knowinfo 12/4/2012 | 7:52:11 PM

re: Mahi Secrets Surface knowinfo,

I made a few a phone calls and found out what you said is true. ASIC people have left, ML8K optical switch that maple could not market did got canned, with it the whole team including the VP that ran the show. There were also layoffs in canada. I guess my question is what is optical
now at maple optical. They are in trouble for sure. The management is not seasoned at all.
Friends tell me that HW team has not been able to complete any of their design so much for that group. Must be some egoist running the team he is next.

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exnortel2 12/4/2012 | 7:49:56 PM

re: Mahi Secrets Surface Rumour says that Mahi laid off 100+ employees. What is the future outlook for the star in Petaluma ?

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botermalujilly 12/4/2012 | 7:49:55 PM

re: Mahi Secrets Surface This must mean the anticipated BellSouth contract of about $300 million won't be happening anytime soon, if at all.

Bo

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ipoverbus 12/4/2012 | 7:49:55 PM

re: Mahi Secrets Surface hmm... any rumors about Mahi's neighbor down
the road, i.e. Turin Networks?

good news travels fast, bad news travels slow...

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ExNortel 12/4/2012 | 7:49:53 PM

re: Mahi Secrets Surface There never was a Bellsouth contract.

The birdie that was singing at my window this morning said something about pissing off the BS folks so bad with this bullcrap, they were talking to the legal team within BS about action. Then the birdie flew away...

Then, of course, the WTC/DC stuff happened and everything was put in perspective with what is important in life, and it ain't startups, making millions anymore, ego driven power nutz, etc.

God box = sure failure and doom. Duh, this ain't new news.

Ex.
God Bless America

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my2cents 12/4/2012 | 7:49:50 PM

re: Mahi Secrets Surface Starup marketing departments are known to spin such things. Wavesmith earlier claimed customer trials at Comcast, Genuity and Verizon. Now they only talk about Genuity.

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