Status as of October 29, 1999
Planet City Software will be an exhibitor at the ITEC show in Phoenix next week. See itec.asmcorp.com . At a booth co-sponsored by Computer Associates, we will be promoting the CA product line, as well as Benchmark Technology's ISPW product, and our own products and services. We will give away demo CDs of the Millennium Bug Compliance Kit (MBCK), and we will be presenting our newest line of mainframe products and services from Topology Systems, Inc. (TSI, the company we are acquiring). We will also be showcasing our Web Services Division's work.
Note that this will be our first major marketing push since I redefined the company's vision and goals back in May of '99. Joe Genovese, our recently hired Sales Division Manager, is very experienced at optimizing involvement in these promotional events. He is going overboard to ensure our first public appearance of the new and improved Planet City goes over well. We will have drawings for door prizes (color TV's and licensed copies of MBCK) and customer surveys to determine the needs of the people who wander by our booth.
The ITEC conference typically draws 3,500 to 5,000 people to the show. We expect to make many high-level contacts who we can follow up with in the weeks following the show.
We will also be debuting our new corporate web site at the show. The site will go live on the web a week or so following the show, after some internal network changes are completed. These changes will permit us to better support the increasing demands of our expanded operations.
The Web Services Division continues to draw unsolicited requests for web site development from our prior contacts' word of mouth advertising. We have now exceeded our capacity to fulfill those requests, so I am searching for talented technical personnel to add to our staff. We also expect the ITEC show to provide several more web project opportunities. It's a challenge just to stay on top of the staffing requirements. A company of our size in startup mode walks a fine line between being over-staffed and over-worked.
The TSI staff is pursuing multiple mainframe projects in both the commercial and government arenas, and they are preparing to launch a verbally approved project in mid November. Recent news items (from IBM, and others) have increased our expectations of a flurry of consulting business in the final days prior to Y2K, and for many months thereafter.
I have reviewed several sections of the first draft of our Form 10-SB. Several updates are necessary, and additional information for other sections has been requested by the lawyers. We'll be filing as soon as we can get all the information stated properly.
A few nervous investors have called to express their concern regarding our stock price, and questioned what could be causing the recent erosion. I don't know. Our business outlook is stronger than ever, so I don't think it's related to that. Short term fluctuations are a fact of life, particularly in Bulletin Board stocks. When a company with thinly traded stock doesn't release news or promotional material periodically, momentum investors lose interest and move on to other more "exciting" stocks. When that same company issues press releases or status reports (like this one), we get accused of "hyping" our company. It's a no-win situation. In my admittedly biased opinion, Planet City's recent redefinition and rebuilding program has provided a strong operational base to work from. We have some very talented and very dedicated staff. We have products and services appropriate for all areas of business and government. We have plenty of opportunities to succeed. We must execute. We're trying very hard to do that. If we succeed, investors in our stock will be very happy campers.
A "Safe Harbor" statement follows my sign off.
Regards,
Terry E. Dennis, President & CEO
Planet City Corp (OTC BB: PINC)
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein which are not historical facts are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission. |
