C'mon folks, lay off Flora. You can deal with me...I return all calls and am easily reached at 905-948-8266 or toll free at 800-263-9947. I'm Executive Vice President at BCB and you can also e-mail me at peter@bcb.org. I have a reputation for being straight up and expect to keep it that way. Believe me, BCB's a real company with real prospects and is going through the usual trials and tribulations of a young high tech company. March will likely be our first profitable month with revenues exceeding $400,000 -- equalling or bettering our total first quarter sales. To keep up our growth we will require further investment. While we are not in negotiations currently, at least five institutional investors have shown interest in our progress to date and discussions are taking place. KPMG Corporate Finance is assisting us. Now, in terms of further information, here are my speaking notes from yesterday's annual meeting. Perhaps they will help shed the light you are looking for.
BCB Annual Meeting - Key Points
ú Granville Research - Strategic acquisition that provides gateway for BCB's voice recording and management technology into Insurance industry (explain how through Applicomm) - To bolster have added Gerry Meinzer to our Board (IBM, Real Time Datapro) -- Legal, Medical and Insurance are key sectors of focus for BCB.
ú Growing foothold in Courtroom and Legislative market - As Daryl mentioned we're in Tampa, U.S. Bankruptcy Courts, House of Commons, the Senate and a pilot in Britain's House of Parliament - Represents a huge market and to capture it we're in negotiation with a U.S.-based integrator and Halifax-based messaging and transcription company to offer not just technology but also turnkey outsourcing services (explain).
ú Our alliance with PC DOCs is beginning to pay dividends - Showed VoiceDOCS at PC DOCS Summit at end of February - Have signed distribution deal with PC DOCS distributor (Mercedes Datakor) in South Africa and are in discussion with PC DOCS distributors in Chile, Germany, the Czech Republic and Australia - Have also identified major projects with large integrators such as EDS (FBI) and Universal Systems (military applications).
ú We are currently in discussion with at least one major developer of speech recognition technology. This group has expressed a strong interest in forming a strategic alliance with BCB for a number of reasons, but two that are primary. The first is that we offer a means to efficiently move voice files over computer networks, including TCP/IP (Internet Protocol). That's important to this group because they intend to release a series of speech recognition engines that are designed to "process" voice files for lexicon-specific markets (e.g. pathology, radiology, cardio, general medicine etc.). This will increase the accuracy of speech-to-text and turn transcriptionists into editors. In order for this to be effective, this group needs a way to move the voice file to the speech recognition engine and then attach the voice file with the "first draft" text for further editing and corrections. We offer a way to do that now.
ú The second is our growing ability to distribute product. We are establishing dictation-specific distribution throughout the U.S., and as mentioned, have just finalized an agreement giving us access to South Africa. In addition, thanks to our integration with PC DOCS software, we are negotiating other agreements that could give us distribution in Germany, the Czech Republic, Chile and Australia.
ú BCB's outlook has never been better. Major product development has been completed while a variety of successful installations and a growing sales backlog proves BCB's products are marketable. In addition, an experienced and dedicated management team is in place and the foundation for a focused distribution infrastructure is already under construction and showing positive results.
ú Now, the only major restraint to BCB's potentially explosive growth is access to capital. However, as both sales and market victories over our competitors grow week by week, it is only a matter of time until enlightened investors awake to the opportunity BCB provides. |
