Impressions from RB meeting attendees:
By: hockeypond
Reply To: NoneWednesday, 8 Sep 1999 at 9:12 PM EDT
Post # of 33044
Just got back from the meeting and my impressions are as follows:
1. Joe Naughton - Brilliant at marketing and retailing and also very much the CEO. I asked the most questions in the audience and I gave him a "B" with his answers. He did not dodge any questions but he did cut them short. Mainly because there was a lot to cover and he wanted to get everything on the agenda complete.
2. Auctionomics- I was not too impressed with the two speakers at first but after talking to Jeff Reynolds, VP Marketing after the meeting he said these guys have great contacts and you will be impressed with this division. They plan on auctioning a "house", yes a house. What great publicity. He says you will surprised with the products and they will be ready in September.
3. Kiosks - Joe handled this well stating the marketing plan is to go after the small/mid size hotels/motels because these are the ones that will use the kisoks more. The larger hotels will probably have the internet access in the rooms, which they (hotels) will have to pay for. The kiosks are "free" for the smaller hotel market.
4. ShopGoonline.com - They will have 500 products by year end and they are looking for more product and always looking at ways to enhance the site. I met with Scott and he is one sharp guy.
Overall, the people at the company work hard and they know what they are doing. I was also told by one of them and I will not say which one that a major "announcement" may be coming and all the names are "household" names. One of the names will be announced and no timeframe was given. Everyone I spoke to was very dedicated and they are in it for much greater than a $1 stock. They have the connections to do it in what I saw. I am very comfortable with my investment after attending the meeting.
By: ffwinman
Reply To: NoneWednesday, 8 Sep 1999 at 9:39 PM EDT
Post # of 33044
I too just got back from stock holders meeting. I was impressed. It looks like management has great business plan and I too feel secure with my investment. Nice to meet you wallstreet, expiditor, and others. I think we're going to make some money.
GO GONET, maybe.
By: hockeypond
Reply To: 32967 by CSageThursday, 9 Sep 1999 at 12:09 AM EDT
Post # of 33044
I was ready to ask about revenue projections but decided not to at the time. Even though that is critical for the long run at this time they are still in the development stages regarding the internet. All financials will be open to us when they file. The 200k hits per day is key since that represents 10% of EBAY which is not bad for a company that has been at it for less than 60 days. I was more interested in how they will get "exposure" on the net and I feel they are on the right path. I work with many E-Commerce companies since I sell computer systems to internet sites and I have a lot of contacts in this area. Some of the companies are similiar to what ShopGoonline is doing and they are doing just as well but they will need more traffic and I will provide them contacts to help them in this area. This will be an "evolving" business and as long as they are aware of that they should be fine.
By: ALMIMAN
Reply To: NoneWednesday, 8 Sep 1999 at 10:12 PM EDT
Post # of 33045
Serious report from mtg!!
1) Joe was impressive - very knowledgeable and personable.
2)Young 25 y/o guy from Infotouch was here (they make the kiosks.) He will be on CNBC 9/12 but it was taped a while ago and he did not mention JNNE. He said he will next time. The # of items at ShopGoOnline is up from 39 at the soft opening to 85 at the Grand Opening to 134 now.
3) Auctionomics report - Nathan Wolfstein has many years experience in auctions. They plan to be up by end of Sept and help existing auction cos. to get online business for a referral fee. Nathan has contacts with military surplus and other auction businesses.
4) Scott Claverie spoke. They plan to have 500 products by the end of the year. There have been 150,000 to 200,000 hits per day.
5) Matt Herman VP of Technology spoke about using Verisign for security and other technical aspects to keep the site flowing smoothly.
6)Jim Cannon spoke about the kiosk business. He used to sell hotel franchises. # of kiosks installed (roughly from graph) 20 in June, 40 in July, 75 in August and 25 already in September. It is an easy sale - no cost to hotel, not selling anything really, just adding a guest service, hotel gets 10% or minimum $45/ month. JNNE is paying cash for kiosks (no debt.) Average kiosk is bringing in $14-15 per day. Maximum is $88 in Kissimee, FL - they ordered a second kiosk. My wife will call to start selling kiosks in Santa Barbara tomorrow. Most kiosks are in with a 4 year commitment.
more later
By: ALMIMAN
Reply To: NoneWednesday, 8 Sep 1999 at 10:18 PM EDT
Post # of 33045
More from shareholders meeting
Florida Hotel and Motel Assoc mtg went well - they signed 10 agreements and got 160 leads.
More conventions are coming - 2 with the Asian American Hotel Owners Association.
10 SB will be filed tomorrow now that we are incorporated in DE. It takes 3-4 days to get it onto Edgar.
Our kiosks take cash or credit cards. They come in 6 different styles.
5 symbols choices were submitted - #1 choice is GONET
Bottom line is 3 great business ideas and wonderful motivated people working for us. Any questions? I'll post more later or tomorrow.
By: icvisx
Reply To: 32968 by ffwinmanWednesday, 8 Sep 1999 at 10:41 PM EDT
Post # of 33044
Meeting was pretty impressive
I'm a new investor with JNNE,and I liked what
I saw.
Joe Naughton-sharp guy,no question too tough.
Has a vision,and looks like he knows how to
achieve his goals.
He is surrounded with very capable,knowledgeable people
in all three divisions:
Auctionomics-could be big
Shop Go Online-Scott Calabrie is young,but showed a lot
of enthusiasm with a game plan second to none.
s/b about 500 products offered by xmas.
I was most impressed with the Kiosks,they had 4 models
at the meeting,orders for about 175 hotel units already sold, contracts are for 4 years w/options.
Joe said one hotel is avg.about $85.per day,not bad.
Kiosks cost JNNE about $5-6,000 each,and JNNE has very
little debt.w/100mil.shares authorized,more to follow when
name and stock symbol changes in about 3 mos.
Finally radio ads in major mkts. will air with traffic
reports starting soon,no specific time given.
I know this is a little long,but there was alot to cover,
looks like a winner to me!!!
By: WAVXALMIMAN
Reply To: 33032 by Mr_DataThursday, 9 Sep 1999 at 4:03 AM EDT
Post # of 33044
Shareholder meeting report - part III
(BTW, I'm still ALMIMAN on my laptop)
Just got home and had talked more with Brad, sayne and others and thought about what I left out. I'll probably sleep thru the open so here's more info to digest:
1) Jim Cannon did say $15 average was cash only. Credit card $$ will come in later. Average should go up when kiosks are in longer, hotels promote more with coupons, etc. He has lists of advertisers but they haven't started with the ads yet. When they start it should be $50 per month per ad per kiosk and 8 ads per kiosk.
2) Ads will be placed soon on radio stations in major cities - we will sponsor traffic reports. A plan for 834 spots is ready to go on 1 day's notice.
3) JNNE may sell the technology of having a mall with streaming video to others - Joe was very evasive in answering this question.
4) Jeff Reynolds is a very sharp young guy who is VP of marketing. He was with a company called Web Site Results - he will work on getting us listed on search engines, Direct Mail, baner ads, etc. He also is considering a card like a business card with rounded edges that can be sent to homes and you can somehow put it in your computer (floppy drive?) and it automatically takes you to ShopGoOnline.com.
5) There was a wonderful brochure which is used for marketing the kiosks.
6) A question was asked about in room internet access. Joe used to work for Lucky's and gave an analogy to comparing Lucky's and 7 Eleven. Large expensive hotels can afford in room services. Small hotels can install our product for no cost and get income and provide convenience to their customers.
Hold on to your shares and accumulate on dips.
By: WAVXALMIMAN
Reply To: 33028 by icvisxThursday, 9 Sep 1999 at 4:37 AM EDT
Post # of 33044
Revenues
1) No specific #'s but I did ask someone about a sold out item - she said the sunglasses and the stadium tote bag were selling briskly and were on back order.
2) Kiosk revenue. Let's say we stay at $15 per day = $450 per month - 10% to hotel ($45) plus $400 per month ad revenue = $805 per kiosk per month X 12 months = $9660 per year per kiosk X 200 kiosks = $1,932,000. When we get to 2000 kiosks next year that will be $19,320,000 in annual income just from kiosks. Add in ShopGoOnline and Auctionomics and you'll see the potential of our little JNNE.
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