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OCTOBER'S CURRENT PROFILE
WelcomeTo Search Engine Inc.
(OTC Bulletin Board) SYMBOL: WKWG
STOCK GENIE'S CURRENT PROFILE-OF-THE-MONTH: WelcomeTo Search Engine Inc.
(OTC Bulletin Board) SYMBOL: WKWG
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INDUSTRY BACKGROUND
The Internet is an increasingly significant global interactive medium
for communications, content and commerce. The Internet is growing faster
than any other mass medium in history. International Data Corporation
("IDC/Link, July 1998") estimates that the number of Web users worldwide
will increase from 90 million today to 320 million by the year 2001.
Commerce on the internet will grow to more than $400 billion by 2001
and the number of people who purchase on the Web will increase from
18 million (1997) to 128 million by 2001. Growth in Internet usage has
been fueled by a number of factors, including the large and growing
installed base of personal computers in the workplace and home,
advances in the performance and speed of personal computers and modems,
improvements in network infrastructure, easier and cheaper access to
the Internet and increased awareness of the Internet among businesses
and consumers. As Internet accessibility, usage and functionality
continue to grow, the Internet is increasingly being used as a medium
for direct communication among users (e.g., via e-mail and bulletin
boards) as well as a rapidly growing sales and marketing channel.
As users spend more time on the Web, they are increasingly seeking local
information relevant to their daily lives. Consumers spend a large
majority of their time and money in their local communities and that,
as a result, Web users are increasingly seeking targeted, relevant
information concerning local events, places of interest, shopping and
other information that is pertinent to their local activities. According
to a survey conducted by Find/SVP, over half of U.S. Internet users
accessed some type of online local news and information during the first
three months of 1997. Additionally, businesses are seeking cost-effective
means to target advertising and direct marketing efforts based on
demographic characteristics, specific interests and geographic location.
McCann-Erickson estimates that businesses spent approximately $77
billion in 1997 on traditional, indirect advertising efforts in local
markets. With the Internet, businesses can directly interact with
consumers, receive immediate feedback on their marketing efforts and
refine advertising campaigns on a real-time basis. The Web is becoming
a more effective and efficient means for businesses to reach consumers.
Consumers have limited Web resources available to provide focused and
relevant local information. Similarly, many local businesses lack Web
resources enabling them to effectively advertise to targeted local
consumers. As the Internet has evolved, Web users have used sites
devoted to local areas within navigational guides, such as search
engines and directories, and Web sites provided by newspapers and other
traditional media sources. Local content within large navigational
guides is often comprised of hypertext links to multiple, disparate Web
sites that may provide the user with inconsistent and confusing user
interfaces, outdated information and no common database to enable
useful information searches. While Web sites for traditional media,
including newspapers and television stations, effectively provide Web
users with updated news coverage, they often lack the internal
resources to structure easy-to-use, interactive guides for Web users,
resulting in Web sites with limited functionality. In addition,
generally these sites frequently do not provide businesses with useful
geographic and topical context for a business' Web presence.
It appears there is a growing demand for online city guides that provide
frequently updated local information organized in an intuitive manner
and targeted at metropolitan consumers. It is believed that consumers
are seeking a guide that provides extensive information on local events,
business listings and community activities, offers a user-friendly
interface to facilitate rapid information access and allows users search
within a city-specific site. It is also thought that as Internet users
are increasingly seeking such information, traditional media sources
are also seeking to partner with companies that are able to provide
the appropriate technology and business processes to develop an online
presence. Similarly, businesses are seeking content and technology
solutions that not only offer Web users a rich and focused local guide
so as to provide a highly effective context for the marketing of their
goods and services, but also provide small and medium sized businesses
a low cost, high quality Web presence. Indicative of this opportunity,
Jupiter Communications estimates that the amount of local business
advertising online will grow from 9% of total online advertising revenues
in 1996 to 37% in 1998 and 54% of the $7.7 billion in online advertising
in 2002. For local businesses seeking a means of establishing a Web
presence, the current alternatives include either building their own
Web site or placing an advertisement with an electronic yellow pages
site. Most custom Web sites are expensive to develop and maintain, and
may not attract high levels of Web site traffic without significant
promotion. Placing an advertisement with an electronic yellow pages
typically does not provide an appropriate context for a local business'
site and no assistance on how to effectively reach consumers. As a
result, it is believed that a significant opportunity exists for a
local city guide that meets consumers' demands for local information
and businesses' objectives for targeting, interacting and selling to
these local consumers.
THE COMPANY
According to the company's business plan, WKWG (WelcomeTo) is a 1 1/2
year old Internet company which has made it easier than ever for
Internet users to find on-line information they are looking for. In
January, 1999, the company is scheduled to launch version 2.0 of its
new commercial internet search engine.
By incorporating the latest technology WKWG offers a focused, more
precise search and execution of content or destination on the Internet.
The exhaustive keyword search most commonly found on all major search
engines that return literally millions of irrelevant returns will
inherently become a method of the past. With the latest innovation and
technology, WKWG will deliver the fastest and the most effective
searches specific to region and city on a global scale, ultimately
finding what you are looking for in the city you want it in. WKWG
should have a significant impact on the business community. Now
commercial web sites will not have to compete will millions of other
web sites to attract potential customer's attention. In addition,
WKWG should be able to capitalize on the explosive growth of the
E-Commerce sector, facilitating companies, which now recognize the
need for their business to be positioned on the Internet. WKWG's sales
team will attack every business in each city, developing and supplying
the entire turn key operation for a commercial site. Potential
businesses can now set up corporate web sites on their own utilizing
proprietary licensed software.
THE MARKET
According to the company's business plan, the commercial search directory
market is an entirely new outlet for businesses to communicate their
products and services on an international scale. WKWG will initially
focus solely on the North American market as it accounts for 75% of the
world's Internet advertising market which as of today is approximately
$1.5 Billion per year and consists of millions of web-sites. This, in
effect, is WKWG's potential market.
WKWG's technology is also ideally suited for becoming a major player in
the E-Commerce market (the buying and selling over the Internet). The
larger these markets become, the more commercial web-site owners require
a precision-based search engine like WKWG. This market is projected to
reach $400 billion in revenues by the year 2001. This growth is expected
to continue to increase exponentially, reaching $1 trillion in E-Commerce
revenues by the year 2005 (Source: Jupiter Communications). WKWG's
entrance into this booming market is perfectly timed.
STRATEGIC PARTNERS
THE SOURCE is a marketing and strategic partner. Last year Source grossed
a total of $150 Million in sales using 1-900 calling cards that provided
guaranteed lowest prices on over 500,000 products to 12 Million members.
This is one of the largest catalog multi-marketing companies. The SOURCE
has a large sales force across the United States through multi-level
marketing companies. This will impact WKWG, as this partnership will
bring millions of members to the site. WKWG will receive a percentage
of the gross of each E-Commerce transaction and advertising sold through
the SOURCE.
Blastorama Inc. is a highly regarded, four year-old San Francisco based
Internet company which will supply graphic and database support. Members
include part of the initial Java team, as well Sun Microsytems, Berkeley
systems, Compaq, and Oracle.
Imaginet Communications Group Inc. developed and markets the only
interactive cataloguing and quoting system in North America providing
electronic access via the Internet. WelcomeTo customers will be able
to easily market their products on the Internet with this state of the
art technology. In addition, Imaginet is an Internet Service Provider
that operates twenty-seven corporate and franchised locations across
North America and is expanding rapidly. Imaginet will promote WelcomeTo's
advertising opportunities to their customer base and WelcomeTo will offer
web-site hosting through Imaginet.
Transimage Graphics provides the WelcomeTo Search Engine with Virtual,
Real-Time language translation services. Transimage gives the company
the ability to have a presence in the Pacific Rim in the first year of
operations through the use of automatic machine translation algorithms.
This cost effective method of translation is state of the art and will
be used to give WelcomeTo a competitive advantage in many of the
evolving world markets.
REVENUE STREAMS
WKWG has three primary advertising revenue streams, which are projected
according to the company's business plan, to account for approximately
90% of WKWG's total revenues. The revenue projections from these three
streams are based on an "introductory pricing strategy" (i.e. up to
two-thirds less than their competitors) that will allow for quick market
penetration in each of the business sectors that WKWG enters (i.e.
Travel, Sports). The advertising packages WKWG now offers are:
1) Channel Sponsorship Packages will be WKWG's most highly sought after,
and therefore most expensive advertising package because of its
exclusivity to each Category and the unparalleled exposure that is
provided to the advertiser.
2) Priority Linking Packages offer customers the ability to have their
web-sites listed at the top of WKWG's search results relative to the
business Category in which they are listed.
3) Welcome Mat Banner Advertising follows the traditional "banner Type"
advertising that is practiced on the Internet. WKWG is offering six
different banner packages designed to suit the needs of any potential
advertiser.
MANAGEMENT
Alan F. Campney - is the Chairman of the Board of the Company. He an
attorney and former managing partner of the law firm Campney and Murphy.
He was the past director of numerous companies including Canadian
Airlines, Banque National de Paris (Canada) B.C. Forest Products,
Genstar Corp., Marathon Realty Company, and Vancouver Port Corporation.
Alan has led the Vancouver Board of Trade's first mission to
Czechoslovakia, Poland, Hungary, and Romania. He assisted in
establishing the Canada-Japan Business Co-Operation Committee and has
been an active member of the Pacific Basin Economic Council. He was
recently awarded the Order of the Rising Sun by the Government of
Japan.
Brent Forgeron - is the President of the company. Mr. Forgeron brings
forth the skills and knowledge he obtained while completing a Graduate
Degree in Business from both Simon Fraser University and The British
Columbia Institute of Technology. His communication skills, insight, and
ability to get the job done are valuable assets to WelcomeTo. Through
extensive research and evaluation of traditional search engines, he has
been instrumental in the design and implementation of the WelcomeTo
operating interface. Through superior communication skills, many of the
key individuals in WelcomeTo were acquired.
Cliff Sweeney - is the Chief Operating Officer of the Company. Mr.
Sweeney had been with Toronto Dominion Bank where he spent sixteen years
in corporate banking, managing some of Canada's largest corporate
accounts followed by an additional four years as an investment banker.
Greg T. Chapman - is the Chief Financial Officer of the Company.
Mr. Chapman gained both education and work experience from many cities
in Western Canada, Northern and Southern California, and Minnesota.
Mr. Chapman brings corporate accounting, administration and human
resources talent. He is also well versed in accounting for start-up
companies, accounting software customization, relational database logic,
securities regulations insight, computer networking and has a strong
technical understanding of the Internet.
Gregory A. Beaudin - is a Vice President and Director of Sales & Marketing.
Mr.Beaudin has been active in the world of marketing since 1986. He has
worked extensively in sports event management, clothing sales and
marketing as well as fund-raising for non-profit organizations. While
working at four of Canada's top ranked golf facilities, Mr. Beaudin
became a member of the Canadian Professional Golfers Association and
used this position to build relationships in both the golf industry
and business community. Furthermore, Mr. Beaudin has used the Internet
as a tool for event management during the last three years and has
recognized the power as well as the potential this medium has to offer.
His contacts and experience make him an ideal candidate to market the
WelcomeTo Search Engine.
Michael Lightheart - is the Chief Technical Officer. He brings 15 years
of experience in Internet and database coding expertise. Mr. Lightheart
will be instrumental in the continuing development of the WelcomeTo
Search Engine and keep WelcomeTo on the cusp of new Internet
technologies through the continued acquisition of key programmers and
Internet developers. The addition of Mr. Lightheart further strengthens
the communication lines between WelcomeTo and their technical partners
in San Francisco.
FINANCIAL PROJECTIONS
(According to The Company's
Business Plan) 1999 2000
TOTAL REVENUES $6,421,241 $19,026,163
Total Production Expenses $1,082,510 $1,832,320
Gross Profit $5,338,731 $17,193,843
OPERATING EXPENSES
Sales and Marketing $834,400 $1,144,400
General and Admin. $3,258,962 $10,707,308
Total Operating Expenses $4,093,362 $11,851,708
NET INCOME (Before Taxes) $1,245,369 $5,342,135
(According to the company's business plan, all projections are based on
assumptions the company believes are conservative using 1998 pricing
strategies and below average sales projections. Prices will be increased
to reflect market standards within one year of product launch)
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