Two of the few remaining officials at Coaxsys Inc. called to say that the Los Gatos, Calif.-based Ethernet-over-coax specialist has in fact not closed its doors, and that it continues to distribute inventory from its “TVnet” product line.
A corrected version of the story was posted Wednesday afternoon.
Company Chairman & CEO John Morelli acknowledged that Coaxsys recently issued a round of layoffs, and has since put its TVnet product line up for sale. Morelli refused to say how many people were let go and how many people remain at the company.
People familiar with the situation said Coaxsys has a skeleton crew on board to help with the sale of assets.
Morelli would not address the employee figure, but did note that Coaxsys plans to refocus on “groundbreaking” technology involving high-definition video.