Burt,
I am posting this here so that all can see my additional comments on the meeting. I know the flow of posts are out of order.
Burt,
Sear was mentioned by Mr. Root, in the contacts that a Company
sales persons was working with their corporate office.
I mentioned Olympus and the Intel Miniature card to Mr. Root and it
did not
produce a response, except that he had stated that the company is
aware of what the other companys are doing in the field of Flash
memory.
Mr. Root also mentioned that they have been producing Flashback
under a private label since Dec.
No name given.
Further, company has given the VoiceLink to trade mags to evaluate.
Company getting ready to go big in about two weeks if all goes
well. Still using Sept for release for CYA purposes. If company
would of gone with only Microsoft 3.2 we could of been on the market
already for what I heard from Mr. Root. But since windows 95 just
came out they wanted to have that too. Sept was chosen so that the
company had a lot of cushion in getting the VoiceLink ready. As my
post indicated, Windows 95 had a lot of bugs Microsoft said it
didn't in it manual. Mr. Root stated that the company programmers
were working long and hard hours getting the bugs out, in conjuction
with Microsoft tech people.
Mr. Root also went into prior management's overstating company
projections (HYPR) and then not producing the expected results. He
was trying to lower everyone's expectations. He said he would
rather understate and over achieve. Still a development company.
Five year business plan is on the conservative side. So if VoiceLink
takes off, as all indicates from Mr. Root indicates, then Flashback
goes big too. May, repeat, may see profits a little sooner. (MY
OPINION). Besides the Pres. of ATT using VoiceLink, the Pres of
Bristle Myers also using it. Some other Pres of companys mentioned
too.
The positive cash flow and corporate profitability are still on
target.
A few shareholders tried to pen Mr. Root down on when the company
stock would increase in value. He indicated that the stock was
selling for 80 times book value.
One question put to him was would he still taken on the job had he
know all the problems Norris had. He answered YES. Further, he said
now that the company has taken care of almost all of the drags it
was becoming more fun building the company and planning ahead. Also,
getting the company finances in order has help then to Reg "D" type
finances. As a side bar, the CFO (Mrs. TERRY) will be having lunch
next week or the following week, with some of her banking friends.
May be trying to line up a line of credit. Can't get it based on
Company's B/S.
As previously posted, company currently in negocation with a
company that has infringed on the companys patent and no names
mentioned.
Company also looking into changing company name and logo. Part of
the ground work may of been laid already because NCI was mentioned
as a possable name. The company's web site already has that "NCI"
on it.
So in about two weeks something BIG will be happening. Think it
will be the AD campaign to launch Voicelink. Because, Mr. Root
indicate that Mobile something will be doing a 50,000 piece mailing soon to it customers. A price of $375.
is what the company sell it for. I think that is the figure.
The company has been producing about 1800 (a loose more or less)
Flashbacks a month. Using that figure and a price of $155.00 gives
us a total of $279,000. He indicated that the next two months
production run was already sold out. They can produce a combination
of 20,000 Flashbacks and VoiceLinks (Not each). I think $179.00 is
the price.???
Company looking for Micro types, can telecomute, as OEM's draining
company resources (my words).
That is about it Burt. I hope I did not stray as it was all from
memory.
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