Five of us shareholders went to the Home Office for a meeting with Scott Roix for about an hour and a half this morning.
Scott Roix is the man in charge of the company - period. He seems honest, straight forward, and sincere. He recognizes his position and has the company and shareholders interest foremost. There will be no dilution without a substantiated reason.
He is weighing funding as the decision is not decided if, when, or how little will be needed or wanted. That is something he will hash out with the IB. He appears to be not worried about it at this point. I've been told before there will be no funding done with the stock at these levels.
We did not ask about the CEO search as it appears he is it. He does want a CFO though.
Gordon is out completely - some walking around money through next quarter and that is it. No voice. No opinion. No calls, except maybe for a contact. Concerted efforts have been and are being done to eliminate and/or fix the past problems. Rich, I never argued with what you said but how you went about it.
There are approximately 300 employees and they are hiring. I was told there were about 110 on the phones this morning. Since the phone operators work by shift the number of operators would be about double, imo. GS has about 35. We were lead out by way of the long route so we could see what has changed, meet and see some of the staff, and witness the offices and work areas. The remodeling is complete and a lot of offices have been added along with an additional outsourcing phone area. Scott says he can about double what they have without moving or adding another location. Execution is happening.
Roix expects and demands production and loyalty from the employees. His philosophy is one minded - MAKE MONEY WITH THE PROPER MARGIN. If a deal doesn't fit the goals, it will be renegotiated, modified, or not done. Profitable execution is the focal point.
This company appears to be running hot. Everyone, including the operators, were working. Scott wouldn't say how well they are doing, except well. There will be announcements about that.
One thing he said about the LT debenture - taken care of - don't worry about it -- we will like the way it turned out.
The new company site is expected to be up next week. There will be a lot of information on it. Regular updates will be maintained. A monthly shareholder letter is to be done.
This company is an Internet Marketing Promotion Company. It was asked if there were any competitors like us. He said not with the aspects this company has -- internet, marketing, and promotion -- hence the domain Eforce3.
The new name and ticker symbol haven't been decided on yet -- not GeneralSearch.
Another reverse split is NOT in the foreseeable future and NOT in any plans.
The marketing plan has the revenue coming to Affinity and the split then goes out. Don't sweat the Reliant debt. Their portion of the split from thier deal comes through our hands first.
From the best of my memory. If the others wish to post they can correct or add.
Patience may be the trait to draw from to see what is generated and we work through the renegade shares from the prior administration. This is without a doubt a new company creating it's future. The past is the old company.
Best of luck to all investors.
Bob |
