Hi Phil and all,
Please excuse the disjointed post, but I just got in a short time ago, packed and am truly exhausted after a long day at TSIG... but, it was exhilarating and exciting. I have to be up in a few hours to get back over to the company and then get to the airport for a 1pm flight.
I can only repeat and emphasize what I posted last night... this is the most exciting investment I have ever made in 40 years. Everyone in the company from Rob Gordon and the upper management team and the secretaries and phone operators, etc. exude excitement. Nobody watches the clock and hardly anyone even takes a lunch break. Today Rob Gordon and I had lunch at his desk while going over the questions again as well as the company plans. You can almost feel the electricity in the air... but everyone is working at 110% and with a smile. It is a very positive energy and it is only too obvious that they are all very focused on their jobs... but are doing it with a happy excitement and as a friendly team... all with the same goal. Things are falling into place very rapidly... and it is very obvious they sense it. I sincerely believe that TSIG will become the Wall Street "darling" and international leader in both growth and sales in second generation e-commerce. Time will tell, but, IMO, that time is very rapidly approaching and I can sense the employees know it.
I have spoken at quite some length with one of the attorneys at TSIG's corporate and SEC law firm, but the senior partner who handles most of TSIG's work will not be back in the office until Friday and I will not post the answers to the questions until I have verified and confirmed them... which means possibly not until next week. Better to get it right the first time. As soon as I receive confirmation I will post the answers to the questions. The answers are, IMO, all positive. The only thing I will comment on is Rob Gordon's salary as that seems to be a major issue to some. I personally think he is underpaid for the work he has and is doing. However, without prior warning, I asked to see his payroll sheets for last year (1998) and this year to date. They were given to me in less than two minutes without hesitation... and I watched them come out of the printer. Last year Rob Gordon often went months without taking a salary and this year to date he has drawn no salary whatsoever. The amount in his contract with the company is, IMO, a very fair one, and the unpaid salary to date will accrue... but he will not take any until TSIG has an adequate positive cashflow. This is something I sincerely believe is very near. Remember that he did this on his own and not because of any pressure from shareholders... a sign to me that he did and does have shareholder value and the company's success first in mind. Even more important is the fact that new deals are being signed now in rapid fashion. Although these may have taken longer than anticipated, it was important to get them on terms very favorable to the company... and that seems to have been just what has and is occurring. I believe you will agree with my thinking very, very shortly. Rob Gordon is not only an excellent leader, but, as I have said so often, he is the consummate dealmaker.
Another fact of great interest and something I saw and noted Tuesday pertains to TSIG's three divisions. Yes, they will be doing separate deals, but they are looked at by the company and management as one integrated package... read large revenue sources. They are parts of the whole. Also to give you an idea of the excitement, enthusiasm and work effort...John Hwang flew in on a 6am flight today and one hour later was hard at work at the desk in his office..., but all excited and filled with energy (Oh, to be young again!!). And the beat went on.
I must get some sleep.
Be Right!!!... Sit Tight!!!
Best always,
Marty |
