| Greetings to all, |
I live in So Cal and sell POS Systems. Lately the deals have been less and less profitable due to price wars between Aloha and Micros. They sell the system at a low price and zap the customer in the back end with maintenance contracts.
I know Jim is onto something really cool and VERY affordable for the right application. The cost of stationary terminals is half the deal.
Just think: Mr customer, I can get you a 10 terminal system for a fraction of the cost using this new technology. WOW!
Do not listen to the negative posts, they are afraid of change and want results NOW.
Jim, keep up the good work, I believe in you and your product.
All the best,
| **** Black Eye's Prime Cuts w/e 5/7/2010 **** |
I present to you some of what I consider to be key posts of the week..anyone who invests in LCRE should learn these concepts and know WHY they are important, because they are key to how the company will grow and prosper. Some of them are just good info that I hear requests for. Enjoy.
What is a Proof-of-Concept or Pilot?
Technology changes our lives...as will LCRE
iPad Marketing Genius
IaaS, SaaS and Virutalization History and Basics (IaaS: Infrastructure as A Service)
SaaS according to darealmr (SaaS: Software as a Service)
What is MultiTenancy?
Dr. Jim Morris, CEO of Lecere, discuss the company and short term goals.
Topics for future Lecere Updates from CEO
| Hi...I am new to LCRE, but have been lurking in shadows in iHub for years. In case anyone is interested, here is a correspondence from Jim... |
Rock on LCRE!
From: Jim Morris [mailto:[email protected]]
Sent: Wednesday, April 28, 2010 9:18 PM
To: Jim Clasen
Subject: Re: FIRMS
Your vision of the future is exactly the same as ours.
The platform is a large part of the difference, because of the cost. The remote units in use today run from $1500-$2500 per device and they are not WiFi. They use RF technology. And the software in these applications is locally-installed software, it is not SaaS software, so there are large up-front costs for hardware and software, plus all the headaches associated with local maintenance when something breaks. Lecere has very little up-front costs and you pay for the software monthly. No maintenance required of the customer, other than iPad maintenance.
On Wed, Apr 28, 2010 at 9:09 PM, Jim Clasen <[email protected]> wrote:
Hi Jim, I have recently come across this company and have invested in it. I think this is a great concept that you have put into action. Having worked in the restaurant industry previously, I can see endless possibilities with this.One of these days, I see there being an LCD screen on every table for the customer to place their own order. They can order refills, extra ketchup, napkins or whatever directly from the table. Then they can pay the bill right there and leave at their convenience, not when the waiter finally comes around to pick up the payment. I think your product gets us one step closer to that.Anyway, I go off on a tangent, I guess my main question is what is the main differences between this and the units the concession vendors use walking around at an event such as a ball game or concert in a stadium…other than the obvious platform.
Thank you in advance for you time.
| I like all the amounts of DD everyone has been doing on LCRE, I decided to look into Logic Automation, which sold in 1994 and changed to Logic Modeling. |
Thought this would be important to look at what DR. James Morris created and dig up some DD on that company.
Everything I found was positive and I am more than assured of his ability to create a ground breaking product, market it, and manage the company into a major player in the restaurant industry.
The articles below more than show how large Logic Automation became. One interesting bit, is the acquiring of the President of INTEL, in what was reffered to as a "coup."
This may seem stupid to look up a company from two decades ago, but looking into a company that Morris created may give us some insight into what he has accomplished and what he is capable of.
I am buying more share in the morning. Holding Long.
some links may require an email address
| Skepticism is always good Bro!.., especially in Pinkyland...You have to be able to shut out the noise around you and focus on your beliefs..,and trading strategy to be successful in Pinkyland...Back in January of last year I executed a position in SIRI of 100K shares at .10 at that time it was near its bottom which was .052....Bashers where Bashing and there where only a few traders on that board at that time that truly had there heads on straight..,and toughed it out...I was one of them..,only because I believed in the CEO and there product that it would make it through the recession and come out on the other side shining like Gold..,even though the float was 3.8B and I still think it is today.. There where traders on that Board that had a belief that SIRI would trade in Dollarland from where it was at that point in time which was .10 PPS!!!...I myself didn't believe it ...,come on Man!! 3.8B!! Float 1.00 PPS impossible well needless to say I Liquidated my entire Position at .55 in april of last year Dont get me wrong I believed and trusted my DD and chart analaysis but I succumbed to the noise around me and Folded...I could've covered my position..,but I did'nt..Now its nothing wrong with taking profits..,but I missed the Bigg Picture and missed out on where it is today 1.20 PPS....I said all that to say this if you have a traders mentality always follow your first instinct its usually the right one. |
Key Points :
* Record volume Friday the stock price was up 133 %!!!
* LCRE is gearing up for the initial release of its software through its Pilot Project on 30 APRIL !!!
* A well known Restaurant to be named apparently before the 30 APRIL
* The pilot restaurant will use the Apple iPod Touch and the iPad for order entry and bar/hostess interfaces!!!
* FIRMS software support Mobile Devices iPhone (Apple), iPod Touch (Apple), Nexus One (Google), Droid (Motorola), Galaxy S (Samsung)
* DISTRIBUTION PARTNERS to be announced:
LCRE is in discussions with distribution partners who can deliver hundreds of customers to Lecere in 2010 alone
* NO more Dilution Needed per CEO as private placement investors are lining up now that (1) the product is going from SPECULATION PHASE into PRODUCTION PHASE!!! and (2) LCRE's stock is liquid and has great market interest. (who wants to invest in a company with an illquid stock)
* LCRE Reaffirms: NO REVERSE SPLIT! (03/01/2010 PR)
According to Dr. Jim Morris PhD, Chairman and CEO of LCRE, “...Lecere is focused 100% on developing its software and obtaining customers. We do not intend to play ‘pink sheet games’ with our stock now or at any time in the future....” (e-mail from Dr. Morris PhD )
SUMMARY: The SUBSTANTIAL DEMAND for Lecere FIRMS™ will bring Lecere to a position of leadership in the hospitality software industry expect a substantial move on the price starting monday it is Micro Pennies Season >>>>0.005 are coming fast here !!! stocks with no stories like EKWX run from 0.0001 to 0.005 in couple of days on such volume!!! Imagine what LCRE can do with its great Story and great volume $$$$$
READ THIS POST:
great day here, talked with jim about it this morning briefly before he got on his plane. he is only using one company for the 504s right now and hopes to get rid of them very soon. with this kind of action and the release coming the 30th, he is very confident his private placement investors lined up will be willing to put money in now. future 504s and massive dilution are no longer needed. about time he realizes that and lets the stock breath. in a side note, any of the longs here that were wondering what was up with the whole abby thing in feb, I have your answer...
holding strong and confident now that this stock will make its move. we all knew when the time would be and the time is now. just wish i would have got more 1s and 2s lol
Double D for newbies can begin with this from the white sheet:
Lecere's focus is on integrated tableside operations, all performed on the same COTS handheld device. The day is fast approaching when a handheld device will be able to integrate point of sales, the taking of orders on a pad of paper, scanning credit cards, taking a signature, and generating a receipt. Gone soon will be the days when these operations were carried out by three different devices: (1) remotely-located terminals that required a waiter to leave their assigned area, (2) a plethora of expensive printers, and (3) dedicated credit card processors. Welcome to the world of the integrated, paperless restaurant!
Lecere sells its FIRMS software for a monthly fee. Upfront costs to get up and running with FIRMS are far less than with our major competitors, all of which sell outdated, expensive on-premises software and dedicated, proprietary hardware. None of our major competitors sells their hardware and software products for a monthly fee. The monthly fee for Lecere’s FIRMS software will be available soon, but it will be a very affordable fee that will more than pay for itself in lower labor costs and increased revenue.
|Posted by: up-down ||Date: Monday, April 05, 2010 10:09:56 AM |
|In reply to: pdxinvestor who wrote msg# 12492 ||Post # of 13199 |
JM's response to pdx's questions
There are two things I would like to say in general.
Secondly, note that I said we would become the leader in Restaurant Management Software (RMS). This is much, much more than merely a Point of Sale (POS) system. A POS system is our first offering, but it will be only a small subset of what we will eventually offer. And our system is tightly integrated. That is very important to what we are developing, and I have articulated that in several past articles, but I am not sure it has sunk in with everybody. Lecere is not a POS company. We are an RMS company.
Focus on the brand name of our software: FIRMS, Fully-Integrated Restaurant Management Software. We did not choose that name at random.
Thirdly, because our software is not yet complete, we have not been able to approach customers with a ready-for-prime-time, deployable product. We will be able to do so by April 30, but it will probably take a month after that before our product goes live in a real restaurant setting. New software needs some hand-holding when it stands up for the first time and takes its first few steps.
1. Sales & Marketing- Current Deals
Q. It appears the BOD failed to bring any real deals to the table (please correct me if I am wrong on this one- I have been asking about it for a while). Just odd there are not clients lined up to install this with the connections from the group. Look at other PDX SAAS firms (corillian, sabrix, etc.) all had deals signed before they even became a company. Just surprised LCRE wasn’t able to do this.
A. I could have convinced twenty companies to sign deals and then announce them later. But until there is a working, deployable product, signed deals aren't worth the paper they are written on. And, by the way, Roger Williams was able to get us in the door at an enormous opportunity. Had it not been for Roger, we would never have gotten into this opportunity. Furthermore, this deal will not be signed until we have successfully demonstrated a working product in several real restaurant situations, as well as our ability to support and maintain that product. I obviously can't say anything more about this opportunity. I hope people can understand that.
Q. What really has me concerned though is that it appears the only sales mechanism LCRE has at the moment is the hope of a third party distributor. Don’t get me wrong, I LOVE the idea of additional sales channels (direct or indirect) but distributor sales are not as easy as they sound. Almost all startups have to commit to assisting in sales, paying for marketing, etc. before the distributor will take it seriously. The distributor will also mandate the software provider also be financially sound enough to ensure they will be around in 3-5 years. This is especially true with SAAS firms. What distributor will want to sell a product (service) from a SAAS firm if the SAAS firm may not be around in 12 months? This leaves the distributor open to significant client managementhassles for a LONG time. Seems to me that LCRE has to 1) get the distributor to actually add the LCRE product / service to their catalog (not easy) and… 2) will have to continually push the distributor to actually sell the product. Once the distributor has a few clients using the product and it proves to be a material profit tool for the distributor (and LCRE can prove it’s staying power), the distributor will open up the sales volume.
A. First of all, this is not a software distributor. I can't say anything more about this opportunity, but Lecere and all its advisors are certain that this is an enormous opportunity for Lecere. First we have to deliver, but we can do it, because we have done it before, several times. We need investors to trust us, be patient for another 3-4 months, and give us enough financial backing that will enable us to be financially viable. Some of the concerns in the paragraph are real, and, believe me, I deal with them every day. All we can do is forge ahead to the best of our ability and try to avoid the potholes as they come at us.
Q. What I want to know from LCRE is the following:
Q a. What is being done by the LCRE management team (Jim) and BOD to beat the trees in their own back yard? What are they doing to line up the 2-3 deals out of their own rolodex necessary to take LCRE to some degree of profitability?
A a. On Friday, we got a verbal agreement to begin talks with a first restaurant in the Portland area. Again, that is all I can say at this time. We have been beating the trees in our back yard for several months. We have uncovered numerous possibilities, but nobody will seriously engage with us until we have a deployable product. Finally, last Friday, we found out that even though we are seven weeks away from a beta product, we are ready to begin initial talks with a first customer. Even now, there is some concern we are a tad too early.
Q b. What is LCRE doing to mature the indirect sales channel and ensure the sales channel will actually sell their product? (This is not simply “sign them up”)
A b. The large opportunity I discussed above is our only planned indirect channel at this time. When we turn that channel on for real in a few months, and we will, it could almost (but not quite) overwhelm us for a couple of years. It is that big.
Q c. What is LCRE doing to establish their own direct sales channel? (including the full lead generation mechanism, method for walking prospects through the sales cycle, closing, etc.)
A c. We have no money to establish direct sales channels and our product is not ready, so a direct sales force is premature at this time. When we are ready to turn on a direct sales channel, we not only have a lot of experience with sales among ourselves, but we also have an advisor to help us in that area who was CEO of a company that went from nothing to $1 billion in sales. Do you think this guy knows anything about sales? Again, I can't say anything about who he is right now, because we have decided to keep him below the radar for a while, but he has been quietly helping us. Pdxinvestor will most assuredly know who he is.
Q d. Related to the above- what is LCRE doing to generate leads / market interest? A single presentation at an industry show is not enough. What is the marketing plan?
A d. We don't have enough money to do this right now. We are focused primarily on development. When we need to do this, we know exactly how to do it.
Q. All of you out there that are doing the “rah-rah” cheerleading, you need to know that if LCRE can’t clearly state their sales strategy and outline exactly what it will cost, how it will be paid for, how it will work, etc. LCRE is dead. Please do not take this as a bash. This is simple fact… and you need to know “a distributor with the ability to sell to hundreds of clients in 2010” is not enough. It sounds great but is very hollow.
A. We are not at this stage yet. We don't have the money to do this. When we do have the money, and we will, we will have a lot of very smart people who have done marketing plans, sales plans, etc., for the last 20-30 years of their lives. Rome was not built in day.
2. Ongoing Capitalization of LCRE
Q The other major concern that I have is the ongoing capitalization of LCRE. Getting enough money together to keep the lights on until product release may be a challenge but this is nothing compared to the challenge of funding LCRE until profitable. While SAAS is really cool (great business model) it has a significant challenge; You don’t get a large cash infusion with each sale. You earn your money one dollar at a time on a month to month basis. Let’s assume the product is done and is well received by the market at the upcoming trade show. Let’s further assume LCRE is able to sign up 50 clients right out of the gate. All great news… but LCRE will need funding for at least the entire calendar year 2010 to cover launch costs, integration costs, etc. How is LCRE going to cover this?
A. Once we have a viable, deployable product, have a few satisfied customers under our belt, have some revenue, and have proved our worthiness to and inked a deal with the large opportunity I discussed earlier, we will have much less trouble raising large amounts of capital. We have already talked to people who could supply that money. Everybody is waiting to see if we can achieve the first part of this paragraph.
Q. The often stated answer to this question for most companies is “well, if we have a lot of client contracts, investors are easy to find!” That used to be true. Capital markets are still funky and investors are much more finicky now days. This is not an easy proposition. What is LCRE’s plan here? Go back to the 504s and ask for a significant cash infusion? Go to the traditional VCs?
A. No, that is not the right answer. The right answer is "Once we have a viable, deployable product, have a few satisfied customers under our belt, have some revenue, and have proved our worthiness to and inked a deal with the large opportunity I discussed earlier, investors are much easier to find". Investment is very difficult these days. I know that better than most everybody. But when we achieve "the right answer", we will be able to raise sufficient capital.
Trust me, if LCRE has the product production ready for the trade show… there is still a relatively long and challenging road ahead. Not to say that it can’t be done but I just have not heard the solution yet.
I know the road is long and challenging. I have been there before. We're not going to make the trade show. Too much money. If any investor wants to put up a significant private placement, we will (in confidence) explain our plans in more detail, and I will disclose the things I have not been able to disclose here, but I can't announce our confidential, detailed plans to the public.
Q. Jim publicly stated that he was in process of winning a large lawsuit and would invest $$ into LCRE upon receiving his cash. I have still not heard if he won- and don’t know how much he won. Any updates here? If he puts in 1 mil to cover sales & marketing- and puts in money to bridge LCRE until it can stand on it’s own at some point in the future, LCRE has a real chance of making it.
A. I still believe I will win the lawsuit and I believe that will still be a significant source of funding for Lecere, but the obtaining of that money will probably not occur before June.
Q. I have a legitimate series of questions that I feel everyone on this board should be asking. If there are answers that I do not know, please post them publicly.
If I sound negative at all in any of my posts, I apologize. I admit that I am frustrated with LCRE due to current progress and the feeling that I was misled by Jim. All of that said, I believe in the product and in the market. I am also fully willing to admit that I may have the wrong read on him and LCRE. If I can get my questions answered to an extent that makes sense, I will put $$ back in.
A. So if pdxinvestor has any more questions, let him fire away to me.
Thanks again for your conduit help.
...Via Jim email to BIO
Email to CEO Jim Morris & his response to me:
On Tue, 2010-01-05 at 22:36 -0500, XXXXX wrote:
> Jim, Don't know if you read IHUB, but a lot of posters there are
> stating you are a "crook." Is there anything you can say or do that
> would help stabilze the stock price? The way this is looking and
> acting, it's a classic dump and dilute and reverse split. Just
> remember what goes around, comes around. I hope to hell you know what
> you're doing. Too late to sell now.
> Good luck…we'll need it.
On Tue, 2010-01-05 at 20:38 -0800, Jim Morris wrote:
> Have you ever heard of Google? A few years ago, Google was nothing
> more than a crazy idea in the heads of two Stanford graduate students.
> They developed a business plan, they got investment capital, they
> developed their product, they created a brand, and they got busy
> trying to figure out how to monetize an idea that started with a
> better mousetrap for Internet search engines. For many months they had
> no revenue and no customers. They didn't even know how to monetize
> their idea for at least two years, maybe longer. In the meantime, they
> burned cash and then they burned more cash. When they ran out of cash,
> they went and got more cash. Then they burned that cash. And, again,
> they went out and got more cash.
> Why do you think the investors who put millions and millions of
> dollars into Google over a period of several years continued to dole
> out money to Google? The answer is because they believed in the basic
> concept and the people and because they were PATIENT. The Google
> investors knew that the Google people were not going to get it right
> the first time or even the second time. But the investors stuck with it and they were patient.
> And look at where they are today. The returns that the early investors
> in Google realized were beyond obscene.
> Google "John Doerr". John Doerr was one of the early supporters of
> Google when he was at KPCB. Google was not the only company that John
> Doerr supported, there were several others (Sun, Amazon, Netscape,
> Compaq, Symantec, and Intuit, for example).
> Do you know how long Paul Allen and Bill Gates struggled in obscurity
> in their quest to build Microsoft from a two-bit loser into one of the
> most powerful companies in the world? About fifteen years.
> We at Lecere are trying as hard as we can to build the next Google or
> the next Salesforce.com or the next eBay or what have you. We are
> classic capitalistic entrepreneurs: we want to build a great company
> and we want to become obscenely rich.
> So ask yourself this one simple question: Why would I or anybody else
> on Lecere's team want to settle for the piss-ant little profits we
> could make on a dump and dilute and reverse split (whatever the hell
> that is) with a company that today has a market cap of about
> $500,000!! The kind of money we could make from that kind of
> ridiculous little children's game is mice nuts to us. We are after big game.
> The Lecere team knows precisely what we are doing. Between us, we have
> been involved in about ten tech startups. Not all of them were
> successful, because they never are, but we also made quite a few
> investors rich along the way.
> So just be patient. Like John Doerr. We have at least two triggering
> events that are 60-90 days out in front of us, either one of which
> should give Lecere enormous traction. I can't say much about one of
> the events, but suffice it to say that we are looking for a large
> company to distribute our product for us. If we find such a company,
> we will be kicking ass and taking names. The other potential event is
> the lawsuit that I will almost surely win within 90 days. I will
> invest a significant amount of that recovery in Lecere, and I will be
> buying stock on the street. I am chomping at the bit to be able to get
> some Lecere stock at the prices we see today. I am going to make huge
> returns on that investment alone, and I will be laughing at the people
> who called me a crook all the way to the bank.
> Jim Morris