Hi All,
Here are the follow up questions I promised, sorry I have been on phones to wee hours
of the morning lately,
Question:
What are the database projects update ?
Answer:
We are working on a music database for two clients, one is for special effects sound
library and the other is a catalog of same type songs. Both have been presented with
good success and we await there budget response. I feel the special effect library is a
go and the music library is 50/50 at best ( I don't think the have the budget, as we would
have to do all the work)
Question:
New DVD project ?
We are in the process with a company named Master Mix. The have to cradle to grave
solution for DVD production. We have the post house to do pre-production editing and
are looking at a western library of some 1,100 plus DVD disks. What we are looking at
is , can we make any money at the price there willing to pay ? We have been sharpening
our pencils and I will advise all when we have a solution. (Est. 2-3 weeks)
Question:
Jackson Lawsuit updates ?
Answer:
In approximately 60 days the judgment becomes ?? "sacra-sync" ?? I haven't done
Latin since my alter boy days so forgive the spelling. This means if they don't challenge
in the next 60 days we can start impound assets. I have been in contact with Randy
and he is trying to find some way TMM and Modern records can work together to try
to work out the problem. Prognosis ? It looks like a 60 days wait to me but we are talking.
I don't believe they will file a appeal as it's black and white, he sold the shares and that
is not in dispute. I will update as thing change.
Question :
TMM back salary and debt status ?
Answer:
I would guess the total debt on the books of TMM is under 400,000.00 dollars U.S. The majority
of this has been negotiated to taking stock. Mike Fernandez and myself have the majority and there are some nickel and time stuff of insignificant amounts (i.e. 600 here 1000 there) As
the Jackson suit gets closer we will have a decision from Mr. Singer if he want's the claim or
want's to convert. I would think Gary will convert to stay involved if he see the upside to the
projects we have on the table. (Mr Singer's Claim 3Mil, Jackson Award 3.5 mil +++ in California it is customary to get 3 X damages in these type of cases)
Question:
When will the TMM website be updated ?
Answer:
Dave Elliot has been charged with this task and he informs me we will have a written
blue print of changes he see to the site on my desk by end of week for review. After this
you should see small changes at once and a refurbished site in 15-30 working days. (Depending
on the speed of merger talks, we could be adding more every day)
Question:
Status of the Mobil post production /broadcast trailer project. ?
Answer:
The Mobil trailer deal is at a stalemate until an arbitration and or agreement between the
partners is worked out. We have aligned ourselves with the guy's who want to buy out the
others, it seems that there just needs to be an agreeable price for them to separate and move
forward. (Est. 10-20 days , by parties legal are on it and we look for a fast solution) After
this we will be presenting a white paper to fund two units to be fitted for smart classroom
applications. We have a blueprint built and approved by all and retro-fit will be very easy
(5-7 working days) as soon as we get the OK. There seems to be some strong synergy to
move forward together but nothing has been discussed as of yet.
Question:
Will the Yalamanchili's be staying with TMM.
Answer:
Yes, in one way or another we will be staying together, in the words's of Chili (sharcrisna)
"We will be together forever because we both think the same about how to build projects"
and In my words "Chili it is one of the best digital engineers I have ever met" Write now the
brothers Yalamanchili are doing project based work for hire. The Rave people want to use
them next to update there digital capture software. They only wait to see how much we want
to but in to the next generation of Trudef. ( the next phase is a 30 day $ 50,000 investment
to update the stand-alone codec to a full graphics package (i.e. to compete with Adobe and Corel) When ? Unknown at this time. We will be making a decision after the current reviews
are return to us.
I hope this letter finds everybody in good health and I remain Sincerely yours,
Thomas Simpson |
