From CEO: UPDATE ON HONEYWELL
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Friday 04/07/17 07:16:30 PM
Re: cricket69 post# 78222
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78225
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last update from CEO
Dear Shareholders,
My sincerest apologies for not communicating as well as I should have. The combination of the federal sequester and the lawsuit have significantly impacted our operations for some time now and it has been a challenging recovery period.
Our operations manager left the company last DEC after more than 3 years of service and we are still transitioning his former duties. In light of that, one of the logistic changes we are making is moving the administrative HQ to Short Hills, NJ.
To provide some general updates, for the past several months I have been working with a start-up biometrics company involved in DNA applications desiring to provide services to the military/federal sector. The technologies are developed by scientists involved in molecular genetics, bioinformatics and medicine. They have patent pending technologies that would allow for quicker analysis of sequenced DNA and would allow for it to be done outside the traditional confines of a laboratory. In fact, could be done on a laptop. Evermedia has a 15% equity stake in the company. I hesitated disclosing this relationship as there were no significant developments and still working towards launching the new company.
As many of you know, I had a meeting with a defense contractor in DC a couple of months ago. Though we have been in constant contact about working together, nothing as of today has materialized though there is still a high mutual interest in collaborating closely together. As notable information is realized, I will update. They are looking towards EVRM as an entree into the federal technology space and to gain access to small business/service disabled contracts amongst other access points that we may provide. The nature of the working relationship is months away from a definitive decision.
We have completed our engineering work in Guantanamo Bay some time ago. We are still working task orders but the amount of work has not been as large, primarily due to federal budget cuts. In the Spring, we expect larger task orders. Currently we are working two TOs for Honeywell; Nellis AFB and Kirkland AFB.
I am still searching to diversify into non government markets to diversify our revenue portfolio. Though we have entertained and visited with several attractive enterprises, we passed on every one. However, there is one that is one firm we engaged a few months back and will share mutual due diligence at the end of March.
Additional updates are forthcoming.
TALENT ON LOAN FROM GOD!!!
