SYME-POSTING THIS DD SO I CAN FIND LATER
is small but has grown over time and is moving toward profitability. Dale Conrad is the CEO of GPS and we recently agreed to modify our ownership with him whereby he tendered 5 million shares of SYME back to treasury in exchange for 49% of GPS. My rationale for this was that our common stock was more valuable as a currency for expanding our other internet businesses. While GPS is an attractive business for us, I believe the decision to hold a 51% stake and obtain the 5 million was a good one. Time will tell. As an aside, we hope to utilize the GPS business a financial transaction processing platform for other Internet ventures and related entities. The key with a service bureau business like this is scaling.
2. Business-to-Consumer Internet Commerce
a. Automobile sales - We are selling automobiles on the Internet today under Ebay. There are currently four cars for sale on ebay under the seller name "talkautos.com". This activity is being conducted through our partnership with a Washington, D.C. business operated by my brother who is a licensed auto dealer. We own the domain name talkautos.com and supercharged.com. Our strategy is to work with other dealers and wholesalers to establish a large base of consignment and owned vehicles for sale on Ebay. Subsequently, we hope to launch our own private auction network for used cars and possibly new cars. There is a negotiation underway with MercExchange and ADEN for the license of the patented auctioning system (see ADEN press, interactiveweek.com article on "patents" and Priceline.com S1 filing with SEC.)
b. Medicaltalk.com
This site is owned by SYME and is currently under development. Our goal is to populate the site with content from medical professionals and academics in exchange for our stock and other consideration. We hope to engage in Internet commerce with other vendor participation. This site will be similar to others in the space, but will limit it spending on advertising, portals, etc. Instead, we hope to drive traffic with distinctive promotions, word-of-mouth, viral marketing ,etc.
c. We hope to add new B-to-C sites in the future on a cost-effective basis. The idea is to utilize our status as a public company to provide liquidity and value creation for private web entities that are too small for an IPO. This goal will be tempered by our ability to become current in our filings with SEC, etc.
3. Business-to-Business Internet Commerce
We are currently seeking to launch a business-to-business site in one industrial vertical. There can be no assurance that we will be successful with this.
I hope this information is helpful. I am available to speak with you at 402-334-5556. Dale Conrad is also available and I know people have been in touch with him.
Best Regards,
Mike Luther
Chairman
Synergy Media, Inc. |
