Randi,
The 500K from Scruggs for short term cash, must mean he is very confident in the company. Company is debt free...
CD business they want to sell, but still sell the product to the navy...but it cost no cash to the company to do this.
Cost have been kept down during this period by lowering the employees from 100 to 64...this was done to conserve cash. They will be hiring in the near future.
The good news is they are in the process of processing a deal with NORTEL
tc6000 set top boxes for lab trials
also a video server
and demos for their customers in 1999
Boston Partners with whom they lost the deal before because of the sub
standard acorn boxes, decided to wait until the technology improved have
solicited a bid from CLRT now.
In this industry businesses moves slow, they dont make fast descions, this will
benefit celerity, because their set top is the best in the industry right now. Sure
there are competitors, but clrt have an edge because we are already there with
the product.
Sales......20 accounts to close this year, some of good size!
Hong Kong telecom is ready to replace the substandard service they have had
for 4 years. <low end boxes, can not do what celeritys can.>
Bad luck in sales
Maylasia/ was dropped indefinitly because of Tornado
and drop in Asian markets
Hunan/ 6 million contract/ postponed because of massive flooding.
Jim Chambers is on a plane now enroute to Hong Kong he is very literate in the
asian market. Mr Van Meter and others are concentrating on US sales to
telecom cable health providers, and schools.
They now have 700 qualified leads for sales...
200 cable
170 telephone co's
4 points on Asia...
With the international banks they release the funds to the company <clrt> this is not under the discretion of the customers.
Do all deals in US dollars....
Completions are done on time...
Seek a direct contract with end users to get cash sooner.
The partnership with Cisco and other big companies is a "key point", because
the product operates with other services where sometimes it could take weeks
to interoperate, celerities systems have taken just hours.
I have many notes, about the product but this can all be seen at the web site.
Actually I feel confident in celerity especially at this price. I
feel this company has taken the steps to secure their future, and plan to meet all
their goals. They are debt free, and Mr, Scruggs loan for them makes me even
more confident. If they should happen to need more money there are other
alternatives open to them to take advantage of...They are very excited about the Sept 30th production that will take off from their new facility..
Sandra
You can listen to the cc if you have time by calling 1-888-266-2081 PIN 985868...I may listen again, since it was quite crazy here while I was listening...you know husband,and kid crazy!
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