General (copied from TVCP's current 10-Q)
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Given current economic conditions and the condition of the Company, management
has undertaken multiple steps to increase the overall performance of the
Company. Principally, management has sought to increase revenue while reducing
cost of sales as a percentage of revenue and reducing overall operating costs.
To this end, management has been focused on the following:
- Consistently increasing revenue with the addition of new customers,
- Developing current and additional relationships with key suppliers
and vendors for better pricing,
- Reviewing the results for each retail store and customer for
profitability,
- Redeploying internal resources to areas which will allow the Company
to quickly add new customers on an effective and efficient basis,
- Reducing overall operating costs at all levels within the Company,
and
- Improving the overall cash position of the Company by converting
existing assets on the balance sheet to cash for working capital
purposes.
During the quarter ended March 31, 2002, among other things, Talk Visual
Corporation
- Sold one of our retail stores due to its poor performance relative to
the other 10 retail stores for $20,000,
- Added 539 additional customers representing $200,000 of additional
monthly revenue,
- Added 11 additional agents to the Company's growing agent network
- Added two new carriers as part of a larger effort to increase gross
margin percentage,
- Reduced overall operating costs by 14.7% in comparison to the quarter
ended March 31, 2001, and
- Completed the Alpha testing of a new billing and switch system which
will allow the Company to more efficiently add new customers and
effectively bill our growing customer base. |
