ProNetLink.com Shareholders update
-For release Nov 4, 1999
Dear ProNetLink.com Shareholder,
I want to thank you for your support of our company. We have had many exciting things happening lately and I wanted to touch base now that I am back from the Middle East Trade Mission and TABD in Berlin.
First of all, as you most likely read in the news and press releases, the Presidential Trade Mission to the Middle East was a great success for ProNetLink.com. It was an honor to be traveling with Secretary Daley on Airforce 2. His presence allowed doors to open for us that we would not have been able to enter without his support. We are in discussions with the Chambers of Commerce, Government organizations and Businesses in each of the markets that we met with. This includes Jordan, Egypt, Saudi Arabia, Palestine, Abu Dhabi, and Dubai. Abu Dhabi and Dubai are both investing large sums of money into building major Internet Cities, which are being billed as the first Free Trade Zones for E-business. ProNetLink.com was the first Internet trade business to meet with them from the United States and we are continuing our discussions with them.
The TransAtlantic Business Dialog in Berlin was an overwhelming experience for me. As the representative from ProNetLink.com I was surrounded by the Chairmen and CEO's of the world's largest corporations. I had the opportunity to present our business plan to them and discuss the future of Global Trade on the Internet. There was quite a bit of business card exchanging. In the end, the private sector business representatives, made our joint recommendations to the US Government and the European Commission on the needs of business to continue the growth of the Internet.
Both the Trade Mission and the TABD will air as Specials on PNL-TV once the shows are completed. I expect that this will be in the next 2 weeks. PNL-TV will be the only network that you be able to see these shows.
The Amended Form 10 has been in the hands of the Legal and Accounting teams for some time now and I expect that it will be sent to the SEC any day. We have processed this as fast as we could and it is in all our interests to get it back to the SEC as soon as possible. We are not behind any schedule and please remember that we have filed this voluntarily. It is always been our goal to provide information above and beyond the requirements. And I believe that we have done that.
I am flattered that we are constantly being compared to VerticalNet and Commerce One. If we continue to build our company we may reach to same financial level that they are at today. Please remember that we have built the entire ProNetLink.com operation for about $5 Million. This is one of the elements of ProNetLink.com that businesses are finding attractive but it is unfair to compare us to companies that have 20 times the money we have. What we have in our court is our international footprint. For a relative small amount of money we have been able to establish relations with most of the major trading countries in the world. We have met with the top Government officials including King Abdullah, Chairman Arafat, PM Barak, Chancellor Shroeder, The USDOC, and have built relations with them. We have been the first Dot Com company invited on trade missions and US/EU trade dialogs. We were the first Internet company to speak to the Delegates at the United Nations. We have been on CNBC, Bloomberg, The Wall Street Journal, Crains, and many other media. In the past week I have been interviewed by 6 additional publications about the TABD and Trade Mission. I am constantly getting requests to speak at trade events. Last night I gave a presentation at the Canadian Consulate. We have strong relationships with major corporate alliances including UPS, Aon, D&B, SWBC, Atwood Richards and more. The international trading community is recognizing ProNetLink.com and we will continue to build in this direction.
We have launched the first Internet broadcast facility dedicated to covering Global Trade news. PNL-TV has been expanding its network on a daily basis and adding new channels. Our on-air guests have included Congressmen and leading government and business officials. We have viewers in 53 countries and that number is growing. The site gets over 100 hits a second during broadcasts. We have now established a relationship with the US Chamber of Commerce and will be broadcasting their special events on PNL-TV. We expect to add two new channels in the next few weeks.
We are the first company to incorporate the new UPS Document Exchange system into our website. We worked very closely with UPS on this and recently, at the Internet World show in NYC, UPS featured ProNetLink.com in their literature as a major success story. We are very proud of our relationship with UPS and look towards developing additional Internet shipping systems with them.
We have added SWBC International to our company alliances. They are experts in meeting the requirements of the European Union Certification. In the next few weeks we will be launching a module on ProNetLink.com that will allow members to access the tools needed to meet EU certifcation for products.
As with any business we have been working on new features that will generate revenues for the company. In the next week or so we will be launching a new area of ProNetLink.com that has already received a very positive response in beta testing. This new area will be part of the PNL-TV programming and has the potential of being a major profit center for the company.
We are now working very closely with Atwood Richards, Inc. to build in the new Barter section into ProNetLink.com. With Barter Online we will be able to bring advanced inventory exchange services to the market that will rival the business to business auction systems. ARI is oldest and most respected name in the Barter business. Not only will ARI add new functionality to the site it will add 29 new sales offices to the PNL network thereby increasing revenue potential.
We have added many new employees to the PNL staff over the last few months. We now have a full in-house development team that will allow us to turn design and functionality faster. We have increased the size of our server farm to handle additional traffic that we are getting from around the world. The peak traffic times on the site are now from 11:00pm to 5:00am EST. We are very happy about this because it shows that we are reaching the international market that we have been reaching out to.
We have been working on upgrading our site graphics and functionality. The PNL-TV was an example of the new look that we are incorporating throughout the site. These changes are taking place through November and December. The site will run faster and be easier to navigate. We will also be modifying the way members can use the site. There will be a new free section that will be open to the public. There will be a member only area with functions that will only work once you subscribe at the $360 level and a new area that will be for high level executives only priced at $5,800 per year. PNL-TV will continue to be free for all viewers since it is supported by advertising dollars.
It is important that we constantly review the state of the Internet, global trade and our business plan. We are regularly updating our revenue streams to make sure that we are taking advantage of the potential our network offers. While we initially had membership as our primary revenue stream we have now updated the system to spread the streams into many different areas. This includes both banner and TV advertising, commissions from online alliances, production fee from special events, and a number of trade related programs. We will continue to add features that are revenue producing.
We will have news shortly about our PNL financial team and our plans to take the company to the next level. Like you, our growth will come from the value of our stock. The management of the company is still the largest shareholder and we would like to see the price continue to go higher. It is in our best interest to make the decisions that will support yours as well as our stock position in the company.
We have been at this for just over 500 business days. We are building the company and I am very pleased with our global growth.
As always I invite your comments and questions as to our plans and goals.
Sincerely,
Glenn Zagoren
Chairman
ProNetLink.com
ProNetLink.com
The Global Trade Internetwork
pronetlink.com
645 Fifth Avenue
Suite 303
New York, NY 10022
212-688-8838
Fax 212-319-4598
ProNetLink.com is The Global Trade Internetwork. It combines trade information from sites all over the world into a simple-to-use portal. As an import-export webtool, it offers member defined features that provide companies with critical information and tools necessary for the continued growth of their businesses. These include trade leads, business news, online products trading, trade forms, On-line live Netcasting, Shipping and customs support as well as many other resources. ProNetLink currently has over 3.2 million companies from 122 countries in its directory. ProNetLink's stock symbol is PNLK on the NASDAQ OTC:BB
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