“They were in denial all the way,” he says. “They didn’t want to give up a 90 percent market in film to have a 10 to 20 percent market in consumer electronics.” Raymond DeMoulin stated when recalling Kodax’s failure to recognize the changes that were coming in digital photography —even if Kodax was the genesis of the revolution itself! Their people saw its worth, but the corporate structures simply didn’t see the potential.