Hi Chris:
This is a complex issue which will have to be reconciled. The TSE, VSE and other regulatory bodies are trying to protect the public from over-promotion in a virtually uncontrollable media. Also, it doesn't really make a level playing field as not all investors have access to the internet. So, I see their point.
Our Board, management and counsel are wrestling with this now, and are looking for a solution that allows us to use the internet to inform. As a marketing vehicle to help sell our products it's unequalled. If it can safely be used by companies within the guidelines set out by the various exchanges it can be a good thing.
I've surfed many internet forums and threads. I believe ours has maintained a certain quality and dignity that has not been present on others I have visited. I think the exchanges are more concerned about those other types. The VSE surveillance people have talked to me twice about the content of our web and links and requested I remove certain items which were either considered promotional or were obsolete, but did not find anything wrong with our SI connection.
A more serious and immediate matter now on the VSE is their intent to provide a monopoly to one wire service for dissemination of news releases. This service as proposed would be available only through one company and at a considerable cost, where now we can meet our compliance requirements through free services. I think this move, if not reversed, will result in less information in content, quality and quantity creating lost opportunity to learn about a company's progress and risk that complete news may not allow a full assessment by the investor. I have written to the VSE, stating my opinion, and hopefully others have followed suit.
In the meantime, as I stated in an earlier post we are looking at this issue quite closely.
I look forward to seeing you in Calgary this weekend.
Best Regards,
John |
