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FossMaNo1
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  		   Posted 7/8/2011 2:09 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Okay, so the press release for Finale 2012 got me thinking about MakeMusic's stock.  Back in 1995 the stock spiked around $70/share.  In 2000 it spike to around $50/share.  Since 2001, however, it's sat around $5-10/share.  Why has it been so low?  Granted, I don't know much about the company as a whole, but I've always like Finale.  It's a great product.  So what gives with the decrease in value (at least according its stock price)?

C. Foster Payne

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JustinP
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  		   Posted 7/8/2011 2:28 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
I'm definitely not qualified to even begin explaining that...but our Investor Relations contact email address in the link below certainly can!

www.makemusic.com/investor_relations.aspx

Justin Phillips
Notation Product Specialist
MakeMusic, Inc.
www.finalemusic.com/forum

These on-line forums are intended for the exchange of ideas among the users of MakeMusic products. If you'd like individual help from our technical support staff, please contact them directly at makemusic.custhelp.com/app/ask.

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FossMaNo1
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  		   Posted 7/8/2011 2:41 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Thanks, Justin. I'll do that!

C. Foster Payne

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SAJ
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  		   Posted 7/8/2011 7:00 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Before you compare a past price to today's price of any stock, you obviously have to factor in any splits since then. (I don't know if there have been any in the case of MM.)

Finale 2010b, GPO 4, Alesis QS8
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Zoots
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  		   Posted 7/8/2011 7:51 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
In addition to splits there is the 2000-2001 tech stock meltdown. There are lots of companies that never bounced back to their original levels and a lot that didn't bounce at all.

Finale PrintMusic 2011
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Motet
Isorhythmic



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  		   Posted 7/9/2011 2:51 AM (GMT -6)    Quote This PostAlert An Admin About This Post.
Press release for Finale 2012?

Finale 2011b, 2005b, TGTools
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Zuill
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  		   Posted 7/9/2011 2:57 AM (GMT -6)    Quote This PostAlert An Admin About This Post.

Justin referred to it in the new sticky thread.

http://www.makemusic.com/press_releases.aspx?pid=513

Zuill

"When all is said and done, more is said than done."
 
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Motet
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  		   Posted 7/9/2011 12:26 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Ah. I guess I've learned to ignore those sticky threads.

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FossMaNo1
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  		   Posted 7/13/2011 11:10 AM (GMT -6)    Quote This PostAlert An Admin About This Post.
For anyone who's interested, I got the following reply to my question:

"Thank you for your interest in MakeMusic. The reason for the significant change in stock price was a 1 for 10 reverse stock split on 1/16/2003. So to reference your information, if the stock was trading around $70 per share, this would be equivalent to $7 per share after the reverse stock split. Recently we also completed a stock repurchase program, however the impact of this was not material to the current stock price.

Further information can be found in our public filing with the SEC at www.sec.gov under MakeMusic."

That actually makes sense to me. in other words, MM's stock hasn't lost value.

C. Foster Payne

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Motet
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  		   Posted 7/13/2011 11:58 AM (GMT -6)    Quote This PostAlert An Admin About This Post.
Huh? A 1 for 10 reverse split would mean that 1 share of new stock equals 10 shares of old stock, so 10 $70 shares would turn into 1 $700 share after the reverse split. Either it was an ordinary (not reverse) split, or there's been an even bigger decline in capitalization.

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Zoots
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  		   Posted 7/13/2011 11:58 AM (GMT -6)    Quote This PostAlert An Admin About This Post.
The terminology is wrong. A reverse split is when you get fewer shares for more shares. If the $70 share now provides 10 shares at $7 this is a regular stock split. In the reverse situation every 10 shares would have provided 1 share worth $700. Normally, reverse splits are bad news. Stock buybacks are generally good news.
 

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Motet
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  		   Posted 7/13/2011 12:22 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
I think that's just what I said.

It looks like in 2003 the 1 for 10 reverse split made $0.22 shares into $2.20 shares.

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Motet
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  		   Posted 7/13/2011 2:15 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
So, in other words, either that historical data has been adjusted for the split and the stock price is down 90% from its high of the adjusted price $70, or the data has not been adjusted and the high would have been $700 had it been adjusted. I believe the former is the case, and the peak in old shares was around $7 per share. When the price got down to 25 cents, they were forced to do the reverse split to keep from being delisted on the NASDAQ (which requires a minimum $1 share price).

They're hardly the only tech stock to have suffered this fate.

Unless I'm wrong, it was irresponsible of investor relations to imply that the stock hasn't been seriously devalued.

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Post Edited (Motet) : 7/13/2011 2:22:38 PM (GMT-5)

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Richard Ashmore
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  		   Posted 7/13/2011 3:34 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Do they / have they ever paid a dividend?

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Motet
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  		   Posted 7/13/2011 4:48 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Even Apple doesn't pay a dividend.

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Motet
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  		   Posted 7/13/2011 6:28 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
I checked, and the prices shown on historical charts (e.g. Yahoo Finance) reflect the spit. That is, the $70 high in 1995 and the $50 high in 2000 can be compared directly with today's $5, and if you had invested $10,000 in 1995 you'd have $700 today. On the other hand, if you'd bought in early 2008 you would have almost doubled your money now.

Finale 2011b, 2005b, TGTools
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robert rawlings
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  		   Posted 12/14/2012 2:31 AM (GMT -6)    Quote This PostAlert An Admin About This Post.
Motet said...
Even Apple doesn't pay a dividend.


Here we are almost a year and a half later and Apple is around $530 and giving a dividend. freaked

I heard an interview a few months back with the CEO and was impressed enough to get some MMUS for around $5. (It's now around $3.)
She was fired or quit shortly thereafter. She had said SmartMusic would begin selling "In Demand" songs as soon as they work out the bugs with the publishers.
This hasn't happened yet.

Sibelius has closed it's main office and is in serious trouble. Perhaps notation software has become too cheap to be profitable?
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Jari Williamsson
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  		   Posted 12/14/2012 3:25 AM (GMT -6)    Quote This PostAlert An Admin About This Post.
robert rawlings said...
She had said SmartMusic would begin selling "In Demand" songs as soon as they work out the bugs with the publishers.
This hasn't happened yet.


I believe it has happened, such as:
http://forum.makemusic.com/default.aspx?f=23&m=382931

Jari Williamsson

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JustinP
Senior Product Manager

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  		   Posted 12/14/2012 4:37 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Notation is quite profitable. As previously announced, we're making significant investments in Finale currently, and Finale's engine drives SmartMusic.

I think you may be referring to this announcement:

www.makemusic.com/Pressroom/Default.aspx?pid=539

Justin Phillips
Senior Product Manager
MakeMusic, Inc.

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robert rawlings
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  		   Posted 12/14/2012 4:42 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Jari Williamsson said...
robert rawlings said...
She had said SmartMusic would begin selling "In Demand" songs as soon as they work out the bugs with the publishers.
This hasn't happened yet.


I believe it has happened, such as:
http://forum.makemusic.com/default.aspx?f=23&m=382931


No , I have SM and they've added a few titles but the my understanding of the "on demand" feature was it would contain top 40 and popular songs from artists such as Taylor Swift etc. This has not happened.

I found some interesting reading in the last financial report.
http://biz.yahoo.com/e/121113/mmus10-q.html

In the fourth quarter of 2011, .. the acquisition of Garritan Corporation.

Operating expenses increased in the first nine months of 2012 across all operating categories. Development expenses were greater primarily due to personnel costs resulting from the addition of the Chief Technology Officer position, which was open until August of 2011, and added personnel and development costs to support technology initiatives, the addition of the Garritan sound libraries and MusicXML technologies. Selling and marketing expenses increased as a result of the planned expansion of our direct sales force, expanded product management capabilities, re-branding and company-wide strategic sales and marketing initiatives. General and administrative expenses increased primarily due to increased legal and consulting fees relating to the Tax Asset Protection Plan that became effective February 21, 2012, increased accounting fees for reporting requirements relating to the acquisition of Garritan Corporation, expenses relating to the departure of our Chief Executive Officer in June 2012 including legal fees and accrued severance expenses, and expenses relating to the financial and legal advisory services for the

Our net loss before taxes in the first nine months of 2012 was $3,718,000 compared to $840,000 in 2011. The tax benefit in the first nine months of 2012 was $1,320,000 compared to $150,000 in the first nine months of 2011. As a result of the factors mentioned, we reported net loss of $2,398,000 in the first nine months of 2012 compared to net loss of $690,000 in the first nine months of 2011.

lots more here
http://finance.yahoo.com/q/h?s=mmus
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robert rawlings
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  		   Posted 12/14/2012 4:49 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Justin Phillips said...
Notation is quite profitable. As previously announced, we're making significant investments in Finale currently, and Finale's engine drives SmartMusic.

I think you may be referring to this announcement:

www.makemusic.com/Pressroom/Default.aspx?pid=539


Yes , thats it.
Can you comment on it and when it may show up?
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JustinP
Senior Product Manager

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  		   Posted 12/14/2012 5:46 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
I can say it is in development as announced, but we have not disclosed a release date yet.

Justin Phillips
Senior Product Manager
MakeMusic, Inc.

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robert rawlings
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  		   Posted Yesterday 4:15 PM (GMT -6)    Quote This PostAlert An Admin About This Post.
Thanks Justin

Just for fun can you say why the last CEO left after such a short term?
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