I must say that I am very impressed with the way management responds to our (the shareholders') concerns.
To put things in perspective, the following are excerpts of an e-mail that was forwarded to them yesterday evening:
Dear Aita,
First of all, I would like to inform you that there is a MDCM thread on Silicon Investor, the worlds largest financial discussion site: Subject 22660
If you take the time to look at said thread, you will notice that I am the only one who has posted on the latter. This is most probably due to a lack of promotion. As you are very well aware, the last PR was dated as of September 18, 1998. It's been 5 months! With all due respect, one of the aspects of running a PUBLIC company is keeping the shareholders informed of the company's progress. After all, we are the owners, n'est-ce pas?
There are lots of great products being held by almost defunct companies. The main reason why these companies became defunct in the first place is assuredly the lack of promotion (of the product as well as of the company). I am not saying that this is the case with MedComSoft with respect to the medical community. Actually, it is quite the contrary, as I have gotten some great reports / reviews from numerous healthcare practitioners. You seem to have gained the medical community's acceptance in quite a short period of time. My hats off to management in establishing quite a network of business relationships / alliances. I am quite confident that we will see some profits this year, which, in my opinion, will surprise everyone, even management. However, one must realize that, without a market, the company's financials mean nothing. Indeed, even if the company's financials show a $3 earnings per share, the share price will suffer due to the lack of buyers. As a result, the share price will slowly drift to a level where it will be impossible to attract any institutional buying, which in the long run will hurt the company's chances of being listed on one of the major exchanges.
Wouldn't the PR aspect of the company be better left to a designated body that has the time and energy to concentrate on said aspect?
What if the company decides to seek further financing? Are you willing to dilute the outstanding shares at $0.75 per share? What about a private placement?
Moreover, with the Y2K problem just ahead of us, are you in a position to take advantage of your software's Y2K compliance. It might be a great promotional aspect. Buy MedWorks for a quick fix. Since Ontario physicians have until March 18th, 1999 to upgrade their computer billing programs, have you already taken advantage of this situation?
In addition thereto, when are we expected to hear from the Philippines or Malaysia? Are you considering Quebec or any of the other provinces as a potential market? How about the states? [...]
As to promotion, have you been contacted by any analysts? Are there any recommendations coming out? Stephan Katmarian writes a column in the Investor's Digest, a highly reputable business journal. Has he thought of writing an article on your company? How about newsletters? [...]
Have you thought of increasing the number of Market Maker's in order to ensure a fair spread?
[...]
Thanks in advance for taking the time to answer my inquiries
Kind Regards
To my surprise, I received, this morning, the following reply :
Dear XXXXXX,
Thank you for your e-mail and expression of interest. The Company has taken steps to address the issues you raised and Dr. Sami Aita, our Chairman and Chief Executive Officer, would be very happy to speak to you personally early next week, if you wish to provide us with your telephone number.
Yours truly,
Kimbrerly Stevenson
Chief Financial Officer and
Vice President of Finance
I've been involved with the investment community for quite a while now and I must say that I am VERY IMPRESSED with their ability to deal with such concerns.
I will be adding to my position!
Cheers
AK
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