Update from Benjamin -
Guys I am truely sorry that we haven't been able to meet your release expectations and even my word about the dates - I have been traditionally very staright-forward about my comments and have kept my word about the release dates.
The reasons are as follows:
1. Our entire management team has been working with our investment bankers to finisht the Corporate Profile/Funding document (Extremely indepth business plan {100 pages+}) for nearly 60 days. With 20 employees and everyone swamped, we have have had to sacrafice the fundamental business needs of the company's growth for short term gains for our investors on-line who, because of their trading savy need much more input that 95%+ of our other shareholders. (This not a derogatory statement!)
We have spent nearlt $15,000 in legal fees SEC financial auditor's expensing preparing for this Funding document. (We have major interest from institutional firms who REQUIRE this document to be complete before we complete the next round of long-term preferred stock funding.)
2. We have been concurrently implementing wide-ranging corporate internal structuring in advance to the funding to allow immediate progress once the funds are made available. As an example:
(a) complete restructuring of our Sales Group to compensate for changes in the sales approach used for Thinkology and new larger products as compared to the "old" methods used to sell the pre-exisitng products. Includes moving most of the existing Sales staff to highly profitable niche market sales and the interviewing and hiring of new Sales people experienced in selling to districts instead of single buildings (Due to Thinkology's new Sales potential.)
(b) improvements in the Development group to decrease costs and increase through put in preparationof the next product to be developed after Thinkology current two titles under development (bringing total size of the line to 5 titles with a school price of $1500)
(c) Refining our internal Accounting department to increase efficiencing and collection of A/R/
etc.
Finally, I was involved in a automobile accident about 7 weeks ago and have had to spend alot of time working out of the house (my favorite!) and attending DR appointments. As a result, I have been unable to get to the Press Releases I would have liked too when I would have liked too.
So, I have hired a new Public Relations Director to help prepare the Press Releases on a regular schedule so that I can approve for dissimenation. I am the ONLY person who can finanlize the Releases due to the liabilities as of this point. This will change in the future.
SO - NO EXCUSES - JUST EXPLANTIONS - during july we sent out about a half a dozen release and we highly discourgaged because the generated so little responses.
But, I know that we must send these release out more regulaly.
I promise that the Press Release on earnings and reference to Family PC article will appear early next week. We prefer to release news on Tues & Thurs.
So, if our new news vendor relationship is in place by Monday (picking up an additional 100,000 bulletin board brokers and investors {thru a new service of PR newswire}) the release will post on Tuesday, otherwise it will be Wednesday or Thrusday.
I hope this helps. Right now we are focusing all of our resources on get done what it critical, but with the new PR guy assisting me, we will get the news out.
By the way we are a REAL company - just experiencing a few growing pains.
Sincerely, Benjamin |
