Subj: Answers (1 - 5)
Date: 96-10-30 21:47:44 EST
From: WingOvers
Dear Fellow Members:
Well, here they are..The answers to our questions prepared by Ed Kelly and Pat Meding! The following pages consist of the collective questions that individuals that frequent the Tasty Fries board have submitted to me and I in turn to Ed Kelly and Pat Meding. The list was prepared by combing through questions posted on this board over the past couple of months as well as polling our board members for specific questions currently on their minds. I wanted to be certain that everyone had an opportunity to be heard. Questions #4 and #8 are currently being prepared by Pat Meding, and she will forward as soon as they are finalized.
I again want to thank everyone for their patience in waiting for these answers. I have broken them down on several posts because they wouldn't fit on one page. They are as follows:
Q. 1. If, and when do you expect a reverse split? Have they revised the split
value down from 20 for 1to maybe 10 for 1 or less? You could ask why the
proposed reverse split value was originally so high.
A. 1. Due to SEC regulations, this question cannot be answered unless a press
release or full disclosure is implemented.
***
Q. I a. Also, what's the status of the competition? What do they know about the
French company that is planning to build similar machines? I posted the full
article awhile back. Also, it's still on AOL under search "fries"
A. 1a . The competition in general is either using frozen or refrigerated
potatoes. Both types have proven to be expensive to transport, maintain and
service. Tasty Fries believes it is the only company using a dehydrated potato
with a shelf life in excess of two years.
***
Q. 2. Specific agreement/commitments of signed contracts from distributors?
A. 2. To date, Tasty Fries has ten signed agreements and contracts with
distributors in the U.S. and Europe. Current management of Tasty Fries believes
selling through distributors is not the proper marketing strategy and the
company is discouraging future distributor sales.
***
Q. 3. Production schedule please! When will the first 100 machines ship? "But
when push comes to shove the company has to meet a deadline some day." Edward C.
Kelly, President and CEO stated, "The Company has released purchase orders to
build the first 1000 machines immediately after the signing of the final
contracts." The Company also reported that the tooling program started in April
1996 with a target completion date of September 1996 is ahead of schedule and
should be completed by August." When now???
A. 3. Commencement of Tasty Fries production schedule has been clearly stated in
numerous press releases and publications. The company has targeted the end of
the third quarter 1996 as production startup. We have hit that date. The company
has released purchase orders for long lead items and is currently checking out
parts from tooling to be released to production. The first hundred machines will
ship immediately after approval and after final acceptance of all hard tooling,
approval of NAMA and certification of UL Acceptance. I would remind everyone, we
are not producing a "toaster," this is a full blown 4600 port, class A, food
processing machine, the first of its kind in the world. We are anticipating the
building of production machines in 1996 and we are confident that this will
become a reality.
***
4. WILL BE ANSWERED IN THE NEAR FUTURE.
***
Q. 5. On-going legal battles, what is the status of the litigation?
A. 5. When Edward C. Kelly became president in June 1994 there were 11 law suits
against Tasty Fries, Inc. Today there are two. One from a shareholder demanding
registration of stock and the other from an inventor who says Edward Kelly stole
his ides. Obviously, the United States Patent office disagrees with this
individual because a United States Patent has been awarded to Mr. Kelly.
*** |
