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This stock took off like a rocket this week. Up 56% on Friday with close to 1 million shares traded in the last two days. Here is the most recent company profile. Anyone notice this one yet? Where do you think it can go? ********************************************************************** Voice It Worldwide, Inc. (`Memo') Industry: Consumer Electronics Year End: December 31, 1996 Area: Digital Recorders Recent Price: $0.50-$1.00 Symbol: MEMO Shares Outstanding: 5 million Listed: NASDAQ Small Cap Float: 3 million shares Business Summary Voice It Worldwide, Inc. designs, develops and markets personal consumer electronic products which allow people to verbalize reminders and messages for themselves and others without the need for pencil and paper. Voice It's products utilize computer chip technology to capture ideas, thoughts, reminders and messages. The Company is expanding its product lines and has recently introduced several models with recording capacity extending to 90 minutes and enhanced features compatible with advanced telecommunications technology. New products include longer length note recorders the dictation length Voice It Manager, which also has LCD and organizer features, as well as voice recognition travel alarm clock. The Company is also developing technology to download its voice data directly to Personal Computers, as well as developing a new line of solid state recorders, enabling Voice It to compete directly with the tape recorder segment of the market. Significant Developments 1993 Voice It incorporates, raises over $1.5 million in capital via a private placement, and launches its first Voice It(R) Note recorder in Sharper Image's direct mail catalog. 1994 Voice It expands sales to retail outlets, successfully distributing its products in more than 2,000 retail stores in the U.S. In addition, the Company begins marketing its products internationally in 12 countries. The Voice It product line expands to three products with recording capacities ranging to 2 minutes. Voice It(R) Personal Note Recorder wins an Innovations Award. Sales increase to $5.9 million. The Company funds its growth through an additional private placement and a merger with Lander Energy Co., which combined provide $2.5 million in working capital. 1995 The Company continues to expand distribution in all its markets. Products are now available in 15 countries worldwide and in approximately 5,000 domestic retail outlets. Sales increase to $15.6 million through increased consumer demand, expanded retail distribution and the introduction of new products. The Company raises $3.9 million in equity and debt capital primarily from institutional investors. Independent market analysis identifies Voice It as the leader in the digital recorder category with over 50% share of the market. 1996 Due to a weak retail consumer electronics market, sales declined modestly to $12.2 million during 1996. In the third and fourth quarter, Voice It introduced several new models with longer recording duration and expanded features. The new Voice It Manager line, with up to 90 minutes in time duration, was a popular Christmas item. Brookstone began selling a, "voice recognition" travel alarm clock. Gross margins improved quarter by quarter to the mid 40's by year end. In the third quarter, the Company recorded a non-cash charge relating to the write down of inventory on the Message Center product line and related costs of $1.4 million. The management team was expanded in December with the appointment of Dennis W. Altbrandt as CEO of the Company. Michelle L. Morgan remains as the president and directly oversees the sales and marketing functions. Expansion and Growth Strategies Voice It pioneered a new product category of digital note recorders, and has become the leader within this category. On a dollar basis, Voice It has achieved a market share exceeding 50%. New product development has enabled the Company to remain on the cutting edge with its recording products because the Company provides customers with the widest selection of recording capacities, the most advanced product features and the broadest price range. Moreover, the development of revolutionary new product lines (solid state models with recording capacities extending to 45 minutes, and features compatible with advanced telecommunications technology) are expected to fuel expansion and growth beginning in the second half of 1997. Additionally, the new Voice It Recorder products to be introduced in late Summer of 1997, will offer up to 50 minutes of internal solid state recording capacity combined with removable memory of 50 minutes, effectively competing with the tape recorder market. Voice It's marketing strategy is to significantly expand retail distribution during the next three years and to increase consumer demand. The Company has only begun to penetrate the potential worldwide market for personal note recorders, and has impressive future growth opportunities, including: (i) additional retail distribution; (ii) new channels of distribution, such as the computer markets; (iii) new product development and line extensions; (iv) distribution of OEM products; (v) international markets -- worldwide the Company has substantial distribution opportunities, and expects strong future growth rates abroad; and (vi) merger and acquisition activities. All of this adds up to solid future growth for 1997 and beyond. SOURCE Voice It Worldwide, Inc. -0- 05/08/97 /CONTACT: Alan Stone of Alan Stone & Company, 310-444-3940; or Dennis W. Altbrandt, CEO, or Michelle L. Morgan, President, both of Voice It Worldwide, Inc., 970-221-1705/ | ||||||||||||||
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