Status as of 5/4/1999:
I spent the majority of my first month as CEO analyzing Planet City's activities and opportunities. My analysis showed that there were too many activities being attempted simultaneously with an insufficient corporate infrastructure to support them all at once. This resulted in "thrashing" the available resources, and the end result was that none of the major activities were being completed on time, some activities were getting no attention at all, and the overall quality of all deliverables was suffering.
At a high level meeting with the major Partners two weeks ago, I presented three separate action plans designed to diminish, or to eliminate entirely, the effects of the thrashing. I was pleased that the decision was made to proceed with the approach that I specifically recommended. The approved plan includes some immediate changes, some near term changes, and some long term plans.
The most important need right now is to build a corporate infrastructure sufficient to support our aggressive growth initiatives.
I'm happy to report that the acquisition of the physical assets of privately held Knowledge 2000 in Sedona, Arizona, has given us a ready-made solution for that particular need. See #reply-9310413 . The work space was designed and configured specifically to accommodate a high tech software development effort. The hardware, software, and network components are first rate. The work space has room for corporate administration, sales and marketing staff, customer and product support functions, and shipping and receiving functions.
From a long term perspective, the retaining of the Knowledge 2000 software engineering staff is a tremendous boost to the progress towards our future plans for developing Internet based software products. They have a tremendous amount of expertise in JAVA and XML, having worked together as a team while developing Knowledge 2000's "CPAexcel". CPAexcel is an educational product used for preparing candidates to pass the CPA exam. See cpaexcel.com
The combination of a totally configured work space, supporting hardware, and an outstanding development staff makes this acquisition a major win for Planet City Software, Inc., and for our investors.
A "Safe Harbor" statement follows my signoff.
Regards,
TED
Terry E. Dennis, President & CEO
Planet City Software, Inc. (OTC BB: PINC)
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein which are not historical facts are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission. |
