By: Myshkin
Reply To: 94 by Chewy
Friday, 23 Apr 1999 at 5:01 PM EDT
Post # of 98
In reluctant response to threads here and on SI, (reluctant only because responding on a regular basis could become a full time job), I'd like to make a few comments. These remarks are careful and considered, and perhaps not as full of hard facts as some of my 1400 investors would like, but many of you who communicate with me on a regular basis know me to be open and forthright. I am legally limited in what can be said here, what can be said on the phone, and what can be said in press releases. Anyway, here are some thoughts (and a few facts), for the day…
? Management of EDSi is by and far, the largest shareholder group. Even if a shareholder doesn't trust us, he must acknowledge that we share the same (albeit greedy) self-interests. We would never enter into any business agreement that would compromise shareholders' interests. We would be hurt more than anyone else.
? A financial professional would know that the term “debenture” means a debt instrument, and that only. There can be many features to this instrument, and those features are what will make it a good or bad deal. Anyone who cries the sky is falling at the word “debenture” is a fiscal novice.
? Yes, the FCC certification process has taken longer than anticipated. There are literally hundreds of details that have to be taken care of now that we are at the brink of full scale manufacture. This is a complex product, complex procedures. Because of liability issues, because our manufacturer is ISO 9001 certified, and because of our own standards, there is much documentation necessary. Documentation takes man hours. That means time. We have come so far and are so close, we will not compromise our quality or integrity now.
? The company needs more capital to complete the manufacturing cycle of this product, and to complete the engineering and manufacturing cycle of the next product to be released… the Capscan for the home owner's heating oil tank. We are currently examining three financing offers that are “on the table”. Again, being the largest shareholders, management will make a decision that will be in the best interest of the shareholders at large.
? This last week, April 21 and 22, we attended, at their invitation, a private trade show in Baltimore sponsored by EXXON for 3000 of their branded jobbers and distributors. We were invited based upon the strength of our product and Exxon's perceived value to their organization. The response was exceptional, and expect that significant sales will result from this exposure.
? Work has commenced of the establishment of our Website. The site will take some time to come online as it is going to play a significant part in every part of our company's business. Not only will potential customers be able to view our product offerings, they will be able to purchase online, field sales personnel will be entering orders via the Web, communications with the manufacturer will be over the Web, and most of my managing data communications will be through our intranet on the site. The Web server (a Dell PowerEdge P400MHz, dual processor, triple 12 GIG RAID and redundant power supplies), is hosted at our ISP along with our Oracle Data Base which resides on a Sun applications server.
? As to the question of “if we are closer to revenue production than anytime in the history of this company, then why has the stock lost half of its value in the last week…”, well there are markets. There are efficient markets, (in theory), and there are inefficient markets. The OTC BB is as close as one can get to the latter. As most of us know, price moves and volumes on the BB is influenced too much by rumors, purposely or innocently spread. That's why when one finds an opportunity, the rewards can be exceptional. Risks too. In our quest to find a more stable, more efficient market for our shareholders, we are in the process of filing a Form 10. This will designate us as a reporting company, and once our market capitalization and share price reach the hurdles, we hope to be eligible for NASDAQ trading. Because of resource restrictions, this process has been delayed, but we expect to file within 30 days.
? Well, that's it. My job, as always, is to run the company. Part of that is to communicate with my bosses, all 1400 of you. I invite your calls, as long as they don't become too regular. That could be a lot of calls. Trust that we share the same self-interests. Patience. We will all be rewarded.
Bill Wolters
Executive Vice President
Chief Operating Officer
Environmental Digital Services, Inc.
(Toll free) 1-877-337-4227 |
