How much cash left? Don't know, but the MyMusicCard model's strentgth is funds up front and really good cash flow. Plus Gordon supposedly has several million of his own money invested. There must be a huge desire on his part to make this thing work.
BTW, the news just out on a deal with Future Business Leaders of America (see below) suggests that they are wasting no time going forward.
One of the beautiful things about the MyMusicCard concept is that it gets them revenue up front and the marketing costs are low.
** TSIG does not not have to pay a sales force (their sales force is hundreds of thousands of Babe Ruth Baseball Youths or Future Business Leaders of America or whomever)
** TSIG's cash flow is good under this model because they get the money from the sale of the card first, before any product is delivered
** They have some big names under contract already.
I have always loved the model, so the re-org is good news for me.
In short, it shouldn't take too much money from here that can't be financed by the MyMusicCard sales. I could be wrong. just my take.
Regards,
DAVE
(COMTEX) B: TSIG.com Teams With Future Business Leaders of America fo
B: TSIG.com Teams With Future Business Leaders of America for Fund-Raising
Program With myMusicCard
ST. PETERSBURG, FLA. (June 3) BUSINESS WIRE -June 3, 1999--TeleServices
International Group Inc. (OTC BB:TSIG), known as TSIG.com, today
announced that the company has executed an agreement with Future
Business Leaders of America (FBLA) for a nationwide fund-raising
program using TSIG.com's myMusicCard program.
Under the agreement, FBLA would receive revenues for its local, state
and national chapters.
In the FBLA program, TSIG.com would produce cards which are redeemable
for up to 20 purchases of CDs through TSIG.com's myMusicCard site or
the company's call center. To facilitate the fund-raising campaign,
TSIG.com will develop a sales kit and create an Internet site which can
be accessed by all chapters of FBLA. These fund-raising kits will then
be distributed to FBLA members, which consist of more than 240,000 high
school students, 10,000 college students, and FBLA's newest group, more
than 8,000 middle school (grades 5-9) students.
Commented Robert Gordon, chairman of TSIG.com, "Future Business Leaders
is to be commended for preparing our youth for careers in business and
business-related fields. As a non-profit organization, their need to
generate funding for current and future programs is a constant concern.
The use of the myMusicCard promotional program will benefit their
entire organization and provide an on-going income stream for years to
come as the program matures. The program has already proven itself to
be a hit with students and educators because of the universal appeal of
music."
Future Business Leaders of America-Phi Beta Lambda, headquartered in
Reston, Virginia is a non-profit education association of students from
middle school through high school levels. PBL is for post-secondary
students. FBLA-PBL has consistently enjoyed an increase in membership
over the past several years. FBLA-PBL, Inc. receives their funding
through membership dues, conference fees, and corporate contributions
and grants. About TSIG.com
Headquartered in St. Petersburg, Florida, TSIG.com provides customer
service and support through its Web-based call center, and innovative
marketing programs to build and retain site traffic through its
myMusicCard programs. The company's myMusicCard site is at
mymusiccard.com. TSIG.com has signed agreements with the
Signature Group, Babe Ruth League Baseball, the Tampa Bay Lightning and
the Ice Palace, Lifetime Learning Systems, the National Music
Foundation, and The Entertainment Marketing Promotion Organization
(TEMPO). The company recently launched its fund-raising program with
Lifetime Learning Systems in more than 100,000 schools. For more
information on TSIG.com, please visit the company's Web site at
tsig.com.
This press release contains "forward-looking statements" within the
meaning of Section 27A of the 1933 Securities Act and Section 21E of
the 1934 Securities Exchange Act. Actual results could differ
materially, as the result of such factors as (1) competition in the
markets for the products and services sold by the company, and for
outsourced teleservices, (2) the ability of TSIG.com to execute its
plans, (3) the availability of financing at favorable terms, and (4)
other factors detailed in the Company's public filings with the SEC.
-0- pp/mi*
CONTACT: TSIG.com, St. Petersburg
Paul Henry, 727/897-4000
phenry@tsig.com
KEYWORD: FLORIDA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS
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