The following was copies from TVCP's 10QSB dated as of 9/30/02:
BUSINESS AND ORGANIZATION
Overview
Our company, Talk Visual Corporation (referred to herein as "we" or "the
Company"), is a provider of voice telecommunications services to key business
and consumer market segments in the United States. These market segments consist
of multiple sub-segments which include the Latin American expatriate business
and consumer communities. Our Retail Operations Division generates sales through
our nine stores in the greater New York City/New Jersey area and our Sales
Division based in Miami, Florida generates sales through a variety of means
including direct sales and agent partnerships.
The principal services that we provide through our Retail Operations Division
are long-distance telephone calling in private booths in our stores, with
payment for such services collected by a cashier after calls are completed
("call-shop services"), pre-paid calling cards, videocalling services, money
transfer and money order services, internet services and international package
delivery services.
The principal services that we provide through our Sales Division are
international and domestic long distance services, domestic toll-free services
and various pre-paid services. Our Sales Division, in conjunction with our
finance and accounting department, has developed systems, processes, procedures
and rate tables to resell international and domestic long distance voice
services to business and residential clients.
General
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 September 30, 2002, among other things, Talk Visual
Corporation
- Added 726 customers representing approximately $180,000 of additional
monthly revenue,
- Added 18 agents to the Company's growing agent network
- Began the migration of our network to a lower cost and higher quality
provider, and
- Issued the first invoices associated with our new billing and switch
system which will allow the Company to more efficiently add new
customers and effectively bill our growing customer base. |
