SiliconBeat

Focus Enhancements, the Campbell maker of digital video technology that filed for bankruptcy protection Sept. 16, said that it “has taken action to reduce” its workforce by about 45 employees, “primarily associated with its Ultra Wideband development,” leaving it with an estimated 100 employees by Oct. 31, according to a filing Monday with the SEC.

We wrote in the printed edition Sunday about a poorly timed purchase of Focus shares by the company’s chief executive, Brett Moyer, who spent about $15,000 on Sept. 9 to buy 71,000 shares of his company’s stock on the open market, paying 21 cents a share, that he could have bought a week later for $213 when the shares dropped to less than a half-cent each after the company filed for bankruptcy.

Focus Enhancement’s board of directors did a mass exodus Monday after they voted to approve filing for bankruptcy. Six of the board’s seven directors resigned leaving the company’s chief executive, Brett Moyer, as the sole board member, according to a filing the company  made with the SEC Wednesday.

That would mean that Carl Berg, the Silicon Valley venture investor and commercial real estate mogul who personally guaranteed Read the rest of this entry »

Focus Enhancements, the Campbell maker of tools for digital video systems, has received a letter from the Nasdaq Stock Market notifying the company that its market value has fallen below the minimum amount the Nasdaq requires for continued listing. It was given until July 16 to try and bring that value up.

As of June 13, according to the Nasdaq letter, Focus Enhancement was valued by investors at Read the rest of this entry »