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June 5, 2017 Timothy Prickett Morgan
in case you haven't figured it out yet, IBM’s biggest precedence when it comes to the Power9 processor is Linux. now not IBM i and not AIX, which can be massive Blue’s personal operating system structures and which have generated the titanic majority of revenues for the combined vigour platform considering that Linux made its debut on vigour and device z machines pretty much two a long time in the past.
As they now have up to now stated, IBM is getting able to launch the Power9 processors sometime in the 2nd half of this 12 months, and officially has no longer given a exact date for when the primary programs the usage of the processors will make their debut. With Intel and superior Micro contraptions getting able to launch their newest X86 server chips and a few credible ARM variants from Qualcomm and Cavium coming into the box, there has on no account been a more intense time for the energy chip as it pertains to Linux. It doesn’t aid the position of the vigour chip that Microsoft has ported a variant of home windows Server 2016 to ARM, either, even though it is simply for interior use on the Azure public cloud for the time being.
It got here as a little bit of a shock to us that IBM turned into pushing out shipments of Power9 machines running both IBM i or AIX to next yr, to be somewhat honest. it is complicated to assert for certain, however they suspect that IBM and its chip partner, Globalfoundries, is not in a position to ship the Power9 chip used in quantity one-socket and two-socket machines in the sorts of volumes to serve the Linux, AIX, and IBM i markets this 12 months. The Power9 processor is without doubt one of the most complicated chips ever designed, and it's etched using a 14 nanometer manner that continues to be ramping at Globalfoundries. Intel and Taiwan Semiconductor Manufacturing Corp have each had concerns with their respective 14 nanometer techniques, and they suspect that Globalfoundries is additionally facing some challenges. here's the character of semiconductor physics at this factor in the historical past of the IT enterprise.
IBM has at all times been clear that the variant of the Power9 chip this is utilized in big NUMA systems – the so-known as Power9 Scale Up, or Power9 SU, chip – using four or more sockets would come later than the one utilized in desktop with one or two sockets – known because the Power9 Scale Out or Power9 SO. IBM did not put a date on this Power9 SU beginning, however the implication from the latest vigor roadmaps become to predict Power9 SU chips in 2017, and traditionally, IBM has always launched methods that supported IBM i, AIX, and Linux on the equal time. The scalability of the distinct systems has not been consistent, however, and IBM i has lagged AIX and Linux when it comes to being in a position to use the threads and memory capacities embodied in even Power7, a great deal less Power8 and Power9, machines.
IBM has been mum about all of this, however Steve Sibley, director of worldwide product administration for IBM’s energy programs line (now referred to as Cognitive methods, however no one calls it that), did make some quick comments about IBM’s Power9 plans at the contemporary usual convention held in Orlando in may additionally. “we are supplying Power9 this year on a few of their HPC and HPDA environments,” Sibley defined, speaking up the more than 200 petaflops “Summit” supercomputer that IBM is building along with Nvidia and Mellanox technologies for the alrightRidge countrywide Laboratory run via the USA department of power. “Early here year, they are going to introduce Power9 with IBM i and AIX in the leisure of the portfolio.”
Early in 2018 is, now not coincidentally, when large Blue is anticipated to sundown help for IBM i 7.1, as we've already informed you all about. The cutoff date is April 30 next year, truly, and it is low-budget to expect Power9 methods operating IBM i and AIX about this time, quite maybe helping the iNext free up, absolutely known as IBM i 8.1 or perhaps IBM i 9.1 to get the hardware and application in synch when it involves naming.
by means of pushing out the Power9 launch for AIX and IBM i, this no longer only offers the enterprise extra time to get the new software tuned up for the new hardware. It also gives IBM more time to rethink its techniques method with the Cognitive systems focal point it claims to have but for which there is very little demonstrably different in the energy systems business. they have some ideas on this, and will be doing a comply with-up on this next week. Suffice it to claim that what the IBM i client base doesn't really need a whole lot is a more capacious gadget for operating what they already have – they want whatever that may assist contemporary workloads as well as legacy ones, all integrated on the same platform.
The dangerous information for IBM is that it has to promote Power8 techniques, which are already relatively lengthy within the teeth, for pretty much yet another yr if the timing is what they imply above. They consider it is advantageous for valued clientele to grasp that there is not any IBM i or AIX version of the Power9 platform popping out this year, so that it will invest in existing Power8 iron and not think like they should still have waited. but, that talked about, they feel that many retailers will wait to peer what Power8 and IBM iNext has to present and what else IBM may get a hold of on the cognitive entrance. those that can wait, may still wait, they think. here is no longer going to help the energy programs revenue circulation, and the power platform may have a longer span of losses than they predicted as they expected for Power9 iron to birth rolling out someday this summer time for all shoppers.
it's a very long time between now and subsequent April. this is all they recognize for certain.linked stories
Say Sayonara To IBM i 7.1 next Spring
Clearing The Decks forward Of The Power9 Launch
The value Of things That Don’t alternate–and those That should
iNext published As IBM i 7.3
know-how Refreshes Go neglected through Most IBM i retail outlets
massive Blue To sundown IBM i 6.1 A year From Now
your entire IBM i Base Are Belong To Us
IBM i installed Base Dominated by means of vintage Iron
IBM Is working on New application Licensing Schemes
IBM Lets MSPs Have Utility-Priced IBM i 6.1 For Clouds
large Blue Backs Off On IBM i upkeep cost Hike
massive Blue Jacks application protection prices For IBM i
IBM Sunsets i5/OS V5R4 again–For actual This Time
The Carrot: i5/OS V5R4 gets Execution dwell until might also
The Stick: IBM Jacks Up i5/OS V5R4 costs
Reader comments on The Carrot: i5/OS V5R4 receives Execution live except might also
The i 7.1s Have It; i5/OS V5R4 extended
IBM Sunsets i5/OS V5R4, Kills Older 595 Iron
See the complete checklist of most desirable server virtualization application.final analysis:
IBM PowerVM can virtualize AIX, IBM Linux, and IBM i valued clientele operating on its power server platform. indeed, it is one of the most full featured virtulization programs on the market – no shock, given IBM's deep legacy in the facts core.
however might also now not be the least difficult platform to put into effect. it's going to require specialists to install it. in consequence, mid-sized and massive organizations should do first-class, however SMBs may be ultimate to steer clear of it until they could have enough money backyard aid. IBM PowerVM is geared above all for cutting-edge superior records facilities with traumatic software workloads.Product Description:
IBM PowerVM can consolidate dissimilar workloads onto fewer methods, increasing server utilization and reducing charge. PowerVM gives a relaxed and scalable server virtualization atmosphere for AIX, IBM i and Linux applications developed upon the RAS elements of the energy systems platform. briefly, its hypervisor is rather flexible. it can assist deliver functions in the cloud quicker by means of automating deployment of VMs and storage. it may possibly also help get rid of downtime via live mobility between servers.
PowerVM 2.2.6 provides commercial enterprise-grade virtualization, featuring the groundwork for cloud computing on IBM vigour techniques. it could efficiently share components amongst functions, consolidate distinctive workloads, and supply the utility mobility in a multi-cloud infrastructure. It is declared to raise aid utilization, in the reduction of operating fees, and supply a extra agile ambiance for IBM AIX, IBM i, and IBM Linux applications running on energy systems.
within the most contemporary release, IBM has more tightly built-in PowerVM with the vigor platform. every POWER9 server comes with POWERVM business edition. there's also a standard edition in addition to an IBM PowerVM, Linux version. PowerVM average version comprises right here components:
“It has been very legitimate with little to no downtime. we've been capable of stretch their IT greenbacks because the refresh rate on IBM power can run for years. additionally, we've been able to add many extra VMs to physical machines than different structures can run,” said a data center supervisor in manufacturing.Servers/operating systems:
AIX, Linux and IBM i consumers
“Our enterprise makes use of VMware and PowerVM. VMware is person pleasant and makes helping home windows OS more straightforward. PowerVM is relocating in that direction. PowerVM is better in that you should prioritize workloads across different VMs and be granular in your reservation of cores and digital CPUs. PowerVM means that you can alter VM traits while the VM is up and working,” mentioned a gadget Admin in oil & gasoline.Implementation:
PowerVM is a application download.Scalability:
up to 1000 VMs on a single server.Overhead:
10% to fifteen%administration:
administration equipment akin to Hardware management Console (HMC), integrated Virtualization supervisor (IVM), and PowerVC assist to mixture and control elements through the use of a consolidated logical view. that you can allocate processors to partitions in increments of 0.01, which makes it possible for distinct partitions to share the processing power of the equipment. When the firmware is at degree 7.6, or later, micropartitions can be defined as small as 0.05 of a processor and might be changed in increments as small as 0.01 of a processor. A maximum of 20 micropartitions can also be created per core.
A running AIX, Linux, or IBM i logical partition can be suspended along with its working equipment and applications. which you can share reminiscence among partitions in a shared memory pool, through the use of PowerVM energetic memory Sharing. power Virtualization efficiency (PowerVP) is a efficiency monitoring answer that provides designated and actual-time suggestions about virtualized workloads which are working on vigour programs. you can use PowerVP to take note how digital workloads use supplies, to research performance bottlenecks, and to make counseled choices about useful resource allocation and virtualized computing device placement.Patching/Backup:
supplied by way of other IBM vigor tools.Migration:
that you would be able to migrate an lively or inactive AIX, Linux, or IBM i logical partition from one system to one more by using reside Partition Mobility.safety:
vigour techniques provide a secured server platform. POWER9 hardware and firmware make it even more cozy for cloud deployment with key facets for PowerVM servers. Implementation contains:
Virtualization for AIX, Linux and IBM i clients operating IBM vigour structures.
“It may be over engineered for smaller purposes. however, if the infrastructure is in place you could put it to use to run Linux VMs as smartly,” observed a device Admin in Oil & gasoline
beginning at $590 per core, free with any other IBM items.
AIX, Linux and IBM i purchasers
one thousand VMs on a single server
10 to 15
Virtualization for AIX, Linux and IBM i valued clientele working IBM vigour systems
$590 per core
Migrationcirculate lively or inactive VMs
Key Differentiatorideal for IBM environments
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Providing multiple adjustable and user-centered design factors, the new BK3-31 provides the maximized flexibility to be built in to many types of self-service systems.
SEONGNAM-SI, South Korea (PRWEB)March 20, 2019
BIXOLON Co., Ltd, a leading global Mobile, Label and POS Printer manufacturer today announced the launch of the new BK3-31 3-inch (80 mm) kiosk thermal printer supporting 203dpi print resolution. Ideal solution as an integral part of a self-service kiosk for retail receipts/vouchers, ATM receipts, parking tickets and more.
Compact and light-weight, BK3-31 provides fast printing speeds of up to 250 mm/sec at 203dpi. Also, BK3-31 has USB V2.0 and serial (9 pin male or 5 pin connector) with DC Jack or 2 pin power connector options. With additional roller-tension, the BK3-31 is designed to make feeding a lot smoother and cater for media roll diameter of 80/102/120 mm.
Supporting adjustable media widths (83/80/60/58/20mm) and near end sensor, the BK3-31 allows for versatile applications from narrow number ticket to wide lottery ticket. The upper and lower bezels are customizable upon request and fit greatly into different structures of kiosks. With power switch and reset button available on both sides, it is easy to reboot the printer regardless of the orientation of how the unit is installed within the kiosk.
BIXOLON offers a wide range of software including drivers, utilities and SDKs due to many years of experience in thermal printing industry. BK3-31 is compatible for the major OS from Windows® and OPOS-based systems to Android™, Windows® and Linux™-based smart device. Alongside all the major code pages are supported. BK3-31 offers a paper saving mode by using BIXOLON’s easy to set up Unified Utility and it allows users to reduce paper waste resulting in saving the rolls by up to 25% and decreased CO2 emissions.
“Providing multiple adjustable and user-centered design factors, the new BK3-31 provides the maximized flexibility to be built in to many types of self-service systems,” explains John Kim, Marketing Director. “The BK3-31 offers the kiosk developer a competitive kiosk printing solution with BIXOLON’s reliable and professional software and technical support.”
For more information visit http://www.BIXOLON.com, subscribe to http://blog.bixolon.com, or alternatively speak to your local BIXOLON sales representative.
The BK3-31 is now available for pre-order from the BIXOLON Head Office’s sales regions. The product will be available to purchase from BIXOLON Europe and BIXOLON America’s sales regions effective May 2019. For more information, contact your local BIXOLON sales representative.
(EDGAR Online via COMTEX) -- ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
Data Storage Corporation ("DSC" or the "Company") provides subscription based, long term agreements for disaster recovery solutions, Infrastructure as a Service (IaaS) and VoIP and carrier type solutions. Over 35% of their revenue is derived from equipment sales for cyber security, storage, IBM Power i systems and managed service solutions.
Our mission is to protect their client's data, ensuring business continuity, assisting in their compliance requirements and providing better control over their digital information. The Company's October 2016 acquisition of the assets of ABC Services, Inc. and ABC Services II, Inc. (collectively, "ABC") and its acquisition of the remaining 50% of the assets of Secure Infrastructure and Services LLC supports the Company's acquisition strategy. These acquisitions accelerated their strategy into cloud based managed services, expanded cyber security solutions and their hybrid cloud solutions with the ability to provide equipment and expanded technical support.
The Company provides its solutions through its business development team and contracted distribution channels. DSC owns intellectual property with their proprietary email archival and data analytics software, Message Logic. DSC is marketing Message Logic on the DSC website. DSC's contracted, approved distributors have the ability to provide Recovery and Hybrid Cloud solutions, IBM and Intel IaaS cloud-based solutions without the distributor investing in infrastructure, data centers and telecommunications services as well as specialized technical staff whereby lowering their barrier of entry for them to provide these solutions to their client base.
DSC is an 18-year veteran in cloud storage and cloud computing providing disaster recovery, business continuity and compliance solutions that assist organizations in protecting their data, minimizing downtime while ensuring regulatory compliance. Serving the business continuity market, DSC's clients save time and money, gain more control and better access to data and enable a high level of security for their data. Solutions include: Infrastructure as a Service specializing in IBM Power; data backup recovery and restore, high availability data replication; email archival and compliance; and eDiscovery; continuous data protection; data de- duplication; and, virtualized system recovery. DSC has forged significant relationships with leading organizations creating valuable partnerships.
Our IBM Power and Intel IaaS Cloud ensures enterprise level equipment and support, focusing on iSeries, AIX, Power, AS400 and their high-processing power for Intel. Their Disaster Recovery services for both Intel and IBM has a guaranteed back-to-work window. DSC is a one-stop source for managed services from VoIP to providing the client with equipment and software, monitoring, help desk and a full array of business continuity solutions.
The Company provides its solutions through its business development team and contracted distribution channels. DSC owns intellectual property in connection with their proprietary email archival and data analytics software, Message Logic. DSC is marketing Message Logic on the DSC website. DSC's contracted approved distributors have the ability to provide their Recovery and IaaS solutions without capital investment thereby lowering their barrier of entry in providing these cloud solutions to their client base.
Headquartered in Melville, NY with additional offices in Warwick, RI, DSC offers solutions and services to businesses within the healthcare, banking and finance, distribution services, manufacturing, construction, education, and government industries.
DSC derives its revenues from subscription services and solutions, managed services, software and maintenance, equipment and onboarding provisioning. DSC maintains infrastructure and storage equipment in several technical centers in New York, Massachusetts and North Carolina.
DSC services clients from its staffed technical offices in New York and Rhode Island, which consist of modern offices and a technology suite adapted to meet the needs of a technology-based business.
DSC varies its use of resources, technology and work processes to meet the changing opportunities and challenges presented by the market and the internal customer requirements. The Company supports clients twenty-four hours a day, 365 days a year.
RESULTS OF OPERATIONS
Year ended December 31, 2018 as compared to December 31, 2017
Net Sales. Net sales for the year ended December 31, 2018 were $8,887,402 an increase of $630,484 or 7.6%, compared to $8,256,918 for the year ended December 31, 2017. The increase is attributable to the increase in equipment and software sales.
Cost of Sales. For the year ended December 31, 2018, cost of sales was $5,427,990 an increase of $517,659 or 10.5% from $4,910,331 for the year ended December 31, 2017. The increase in cost of sales is a result of an increase in equipment and software sold. The Company's gross margin is 39% for the year ended December 31, 2018 as compared to 41% for the year ended December 31, 2017.
Operating Expenses. For the year ended December 31, 2018, operating expenses were $3,124,052 a decrease of $307,292 as compared to $3,431,344 for the year ended December 31, 2017. The net decrease is a result a decrease in staffing salaries, professional fees, travel, commissions, state filing fees and the recovery of bad debt. Salaries decreased by $204,654 to $800,424 for the year ended December 31, 2018 as compared to $1,005,079 for the year ended December 31, 2017. Officer's Salaries decreased $283,704 to $251,446 for the year ended December 31, 2018 as compared to $535,150 for the year ended December 31, 2017. Professional fees decreased $32,506 to $460,186 for the year ended December 31, 2018 as compared to $492,692 for the year ended December 31, 2017. Commissions increased $334,375 to $702,361 for the year ended December 31, 2018 as compared to $367,985 for the year ended December 31, 2017 due to a reclassification between professional fees and commissions. Travel decreased $54,228 to $58,892 for the year ended December 31, 2018 as compared to $113,120 for the year ended December 31, 2017. State filing fees decreased $6,794 to $6,408 for the year ended December 31, 2018 as compared to $13,202 for the year ended December 31, 2017 due to a reclassification between state filings and professional fees. The recovery of bad debt in 2018 was $60,716
Other Income (Expense) Interest expense for the year ended December 31, 2018 decreased $8,118 to $98,788 from $106,906 as compared to the year ended December 31, 2017. Other income decreased $3,071 to $99 in 2018 from $3,170 in 2017.
Net Income (Loss). Net Income (Loss) for the year ended December 31, 2018 was $236,671 an increase of $425,164 as compared to net loss of $(188,493) for the year ended December 31, 2017. DSC's profit was primarily a result of an increase in sales and expense reductions in operating expenses.
LIQUIDITY AND CAPITAL RESOURCES
The consolidated financial statements have been prepared using generally accepted accounting principles in the United States of America ("GAAP") applicable for a going concern, which assumes that DSC will realize its assets and discharge its liabilities in the ordinary course of business. In 2019, they intend to continue to work to increase their presence in the cloud and business continuity marketplace specializing in IBM Power i and disaster recovery / business continuity marketplace utilizing their technical expertise, software and their capacity in their data centers.
To the extent they are successful in growing their business, identifying potential acquisition targets and negotiating the terms of such acquisition, and the purchase price includes a cash component, they plan to use their working capital and the proceeds of any financing to finance such acquisition costs. Their opinion concerning their liquidity is based on current information. If this information proves to be inaccurate, or if circumstances change, they may not be able to meet their liquidity needs, which will require a renegotiation of related party capital equipment leases and / or major shareholders, such as senior management, entering into financing or stock purchase arrangements.
During the year ended December 31, 2018, DSC's cash increased $123,651 to $228,790 from $105,139 December 31, 2017. Net cash of $541,305 was provided by DSC's operating activities resulting primarily from depreciation expense of $602,532. Net cash of ($347,871) was used in financing activities resulting from payments on capital lease obligations.
DSC's working capital deficit was $2,202,230 at December 31, 2018, decreasing $749,158 from $2,951,388 at December 31, 2017. The decrease is primarily attributable to a reduction of related party notes and leases of $335,895 and recognition of deferred income of $131,325 and an increase in cash and accounts receivable totaling $248,503.
Share Based Compensation
DSC follows the requirements of FASB ASC 718-10-10, Share Based Payments with regards to stock-based compensation issued to employees. DSC has agreements and arrangements that call for stock to be awarded to the employees and consultants at various times as compensation and periodic bonuses. The expense for this stock-based compensation is equal to the fair value of the stock price on the day the stock was awarded multiplied by the number of shares awarded.
The valuation methodology used to determine the fair value of the options issued during the year was the Black-Scholes option-pricing model. The Black-Scholes model requires the use of a number of assumptions including volatility of the stock price, the average risk- free interest rate, and the weighted average expected life of the options. The risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the warrants and is calculated by using the average daily historical stock prices through the day preceding the grant date.
Estimated volatility is a measure of the amount by which DSC's stock price is expected to fluctuate each year during the expected life of the award. DSC's estimated volatility is an average of the historical volatility of peer entities whose stock prices were publicly available. DSC's calculation of estimated volatility is based on historical stock prices of these peer entities over a period equal to the expected life of the awards. DSC uses the historical volatility of peer entities due to the lack of sufficient historical data of its stock price.
Off-Balance Sheet Arrangements
DSC does not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as "special purpose entities" ("SPE" s).
CRITICAL ACCOUNTING POLICIES
DSC's financial statements and related public financial information are based on the application of GAAP. GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenue, and expense amounts reported. These estimates can also affect supplemental information contained in their external disclosures including information regarding contingencies, risk and financial condition. They believe their use of estimates and underlying accounting assumptions adhere to GAAP and are consistently applied. They base their estimates on historical experience and on various other assumptions that they believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions. They continue to monitor significant estimates made during the preparation of their financial statements.
Our significant accounting policies are summarized in Note 2 of their financial statements. While all these significant accounting policies impact their financial condition and results of operations, they view certain of these policies as critical. Policies determined to be critical are those policies that have the most significant impact on their financial statements and require management to use a greater degree of judgment and estimates. Actual results may differ from those estimates. Their management believes that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies would cause effect on their consolidated results of operations, financial position or liquidity for the periods presented in this report.
RECENTLY ISSUED AND NEWLY ADOPTED ACCOUNTING PRONOUNCEMENTS
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. In addition, this guidance requires new or expanded disclosures related to the judgments made by companies when following this framework and additional quantitative disclosures regarding contract balances and remaining performance obligations. ASU 2014-09 may be applied using either a full retrospective approach, under which all years included in the financial statements will be presented under the revised guidance, or a modified retrospective approach, under which financial statements will be prepared under the revised guidance for the year of adoption, but not for prior years. Under the latter method, entities will recognize a cumulative catch-up adjustment to the opening balance of retained earnings at the effective date for contracts that still require performance by the entity.
ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. The Company developed an implementation plan to adopt this new guidance, which included an assessment of the impact of the new guidance on their financial position and results of operations. The Company has substantially completed its assessment and has determined that this standard will have no impact on its financial position or results of operations, except enhanced disclosure regarding revenue recognition, including disclosures of revenue streams, performance obligations, variable consideration and the related judgments and estimates necessary to apply the new standard. On January 1, 2018, the Company adopted the new accounting standard ASC 606, Revenue from Contracts with Customers and for all open contracts and related amendments as of January 1, 2018 using the modified retrospective method. Results for reporting periods beginning after January 1, 2018 will be presented under ASC 606, while the comparative information will not be restated and will continue to be reported under the accounting standards in effect for those periods.
In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall:
In February 2016, the FASB issued ASU 2016-02, Leases, ("ASC 842"), which supersedes FASB ASC 840, Leases and provides principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use ("ROU") asset and a lease liability for all leases with a term of greater than twelve months regardless of classification. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. The standard is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted upon issuance. The Company is currently evaluating the method of adoption and the impact of adopting ASU 2016-02 on its results of operations, cash flows and financial position. The Company does not expect a significant change in its leasing activities between now and adoption. On adoption, the Company currently expects to recognize operating lease liabilities of approximately $319,236 with corresponding ROU assets of the same amount based on the present value of the remaining rental payments of their office locations.
In October 2016, the FASB issued ASU 2016-16, Income Taxes ("ASC 740"):
In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows ("ASC 230"), requiring that the statement of cash flows explain the change in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This guidance is effective for fiscal years, and interim reporting periods therein, beginning after December 15, 2017 with early adoption permitted. The provisions of this guidance are to be applied using a retrospective approach which requires application of the guidance for all periods presented. The adoption of ASU 2016-18 did not have a material impact on the consolidated financial statements.
In January 2017, the FASB issued ASU No 2017-04 Intangibles-Goodwill and Other ("ASC 350"): Simplifying the Accounting for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under ASU 2017-04, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. ASU 2017-04 is effective for annual or any interim goodwill impairment tests for fiscal years beginning after December 15, 2019 and an entity should apply the amendments of ASU 2017-04 on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the effects of ASU 2017-04 on its audited consolidated financial statements.
In July 2017, the FASB issued ASU 2017-11, Earnings Per Share ("ASC 260"), Distinguishing Liabilities from Equity ("ASC 480"), and Derivatives and Hedging ("ASC 815"). ASU 2017-11 is intended to simplify the accounting for financial instruments with characteristics of liabilities and equity. Among the issues addressed are: (i) determining whether an instrument (or embedded feature) is indexed to an entity's own stock; (ii) distinguishing liabilities from equity for mandatorily redeemable financial instruments of certain nonpublic entities; and (iii) identifying mandatorily redeemable non-controlling interests. ASU 2017-11 is effective for the Company on January 1, 2019. The Company is currently evaluating the potential impact of ASU 2017-11 on the Company's consolidated financial statements.
OFF-BALANCE SHEET TRANSACTIONS
DSC has no off-balance sheet arrangements.
Apr 01, 2019
(c) 1995-2019 Cybernet Data Systems, Inc. All Rights Reserved
February 7, 2018 Alex Woodie
Having a job working on the IBM i-Power Systems platform isn’t easy. Compared to the vast Intel X86 ecosystem, IBM i folks make up a tiny, oft-overlooked minority. That’s one reason why it’s so important to have strong and passionate leaders that the wider installed based can look up to. Along that vein, last week IBM unveiled its 2018 class of Power Systems Champions, which includes a good number of passionate IBM i types.
IBM named 60 Power Systems Champions for 2018. Out of those 60 Champions, 22 are new to the program, while 38 are returning. Twenty-six of the 2018 Power Systems Champions work primarily on the IBM i side of the Power house, while the rest work with AIX, Linux, storage, or IBM’s Power-based high performance computing (HPC) business. You can view the entire list – which includes hundreds of Champions across various categories – at this IBM developerWorks link.
If you’ve been following the Power Champions program for a while, you’ll notice a lot of familiar names on the IBM i side of the house for 2018, In fact, there were no newly named IBM Champions for Power Systems with an IBM i focus this year, according to a list of 2018 IBM Champions for Power Systems provided to IT Jungle by Brandon Pederson, who manages the IBM Champion program for Power Systems.
The full list of Power Systems Champions for IBM i, according to Pederson’s list, includes:
While their day jobs vary, the IBM Power Systems Champion are united in their commitment to the platform. Massiello, now in is in his eighth go-round as an IBM Champion, says the role of being Power Systems Champion hasn’t changed much over the years. That includes bringing passion for the platform to work every day.
“Being an IBM Champion is more a state of mind than a position,” Massiello tells IT Jungle. “It isn’t related to specific events or activities nor do they perform various acts. I believe it to be about the passion they have for the platform, not just within ourselves, but in their ability to evoke that response in others.”
If you’ve ever met Massiello, you’d realize that his dedication to the IBM i platform is as solid as his handshake. As the head of the IBM business partner iTech Solutions, Massiello has many opportunities over the course of his daily work to promote the platform, which he does.
“Of course, being an IBM Champion is a tremendous honor,” he says. “However, spreading the word about IBM i is integral to my normal everyday job and comes naturally. They don’t have official responsibilities or requirements from IBM other than to bring their commitment to the platform into the public eye and combine this advocacy with a willingness to help others.”
Trevor Perry, who’s an outspoken supporter of the idea of a unified Power Systems platform, says one of the reasons a Power professional is recognized as an IBM Champion is the platform awareness they can spread. “IBM encourages us and provides relevant information for us to be able to promote IBM i and Power,” Perry says. ”
“What I am doing is a ton! Arguing with people on LinkedIn, using the platform I have as a speaker to promote awareness, to encourage community members to also promote awareness, to provide links and materials, etc.,” he says. “I created a session called ‘Introduction to IBM i’ that was well received. People need to know the basics, and it is a great pitch for awareness of IBM i.”
Perry isn’t shy about sharing his feelings about the platform, which is one of the reasons he’s a Champion. He’s also not afraid to hold IBM’s feet to the fire about how it promotes the IBM i platform.
“IBM is promoting the platform, but their focus is Power,” he says. “Fortunately, IBM i is a strong part of Power, so they get some awareness of IBM i from IBM to the community. But, the executives at IBM continue to ignore IBM i, or discount it, or speak about IBM i like it is not the best business platform. Above the IBM i team in IBM, there is not enough awareness and promotion, IMHO, which means, the IBM i team inside IBM is fighting an uphill battle to promote the platform.
Perry pointed to the IBM i brain trust in Rochester, Minnesota — Alison Butterill, Steve Will, Scott Forstie, Jesse Gorzinski, Simon Porstendorfer, Dawn May, and Steve Finnes – as unspoken Champions of the platform. “They are definitely promoting platform awareness for IBM i.”
Jim Buck says he strives to showcase positive aspects of the IBM i server to folks who may not be aware of it. “I try to promote the system through with my company and LinkedIn connections, Twitter (@Jbuck_imPower),” he says. ” I try to be an ambassador by showing people the dependability and cool things the system can do… even traditional languages like RPG has a place.”
Steve Pitcher has a unique perspective on the IBM Champion program, since he was first a Champion for collaboration solutions before becoming a Power Champion. As a big backer of the IBM i platform, Pitcher works to get the message through, often with the assistance of IBM.
“I think awareness is very important,” says Pitcher, who works with Massiello at iTech Solutions and is also a director at COMMON and an editor at MCPressOnline. “The more IBM i is in the periphery of a customer the better and I think we’re a part of that. Getting information out there and cutting through all the information overload noise is a challenge because everyone is so busy. As long as they have a consistent stream in terms of messaging then it tends to get picked up.”
“IBM Champions have a great relationship with IBM and they’re a willing dance partner in terms of giving and receiving feedback and information. I’ve been an IBM Champion since 2011 and that’s always been the real value of the program.
Cynthia Fortlage has also been an IBM Champion since the program’s inception. As CIO of GHY International, Fortlage has been an advocate for the IBM i platform within her own shop, as well as the community at large.
“There are many opportunities now to connect with other champions and leverage what they all do for the betterment of their community,” she says. “An example is Champion day at COMMON that is a more recent addition to connect and leverage each other with the community.”
Fortlage enjoys sharing stories and insights about the platform that can help to support the brand, the platform, and the operating system. But being a Champion also affords her the opportunity to learn from others as well. “The world is changing quickly,” she says.
Massiello agrees that Champions are conduits for information, but says the information doesn’t always flow downhill from IBM into the ears of the masses. Sometimes, Champions help the information flow up from the installed base to where it needs to be in the IBM company.
“A Champion doesn’t just talk to the community to raise awareness,” Massiello says. “We equally listen to their community. They keep their fingers on the heartbeat of the industry. . . . They understand what people are doing to drive business, how employees are using technology, what the positives and the negatives are. . . . By being involved with their peers they are able to bring necessary information back to IBM.
“Being a Champion means they represent people in the community,” Massiello continues. “Together and individually they work tirelessly to ensure voices are heard loud and clear by IBM and the myriad businesses that depend on this technology to thrive. IBM is a good partner in this endeavor as they provide us with substantial amounts of information while also listening to the requirements and concerns of the community that they bring to their attention. They all want to work together in order to elevate the platform to the next levels of success.”
This article has been corrected. IBM named 60 IBM Champions for Power Systems for 2018, not 39. Jerry Petru and Midori Hosomi are still IBM Champions, as are several other people that they originally omitted. IT Jungle regrets the errors.RELATED STORIES
LUG Talks About IBM i Priorities
A Youth Movement For IBM i Champions
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