RJDG - CALL WITH RON BREWER - CEO
Its been a while since we've spoken, and hes been through alot with the knee replacement surgery.
Lots of things that will come public shortly, so only a few things he was willing to talk about right now.
Few questions on the top of all shareholders' minds are:
Q: What is going on with the auditor? Are we still with ZWICK & BANYAI?
A: There was a scheduling confict, they are going back all the way to 2015 to first come up with the baseline for the audit of '16 and '17. We decided on another firm out of Florida to be sure all is done in a timeframe that is beneficial to all of us. This new company has already begun the audits, and have been on site. The audit is expected to be 6-8 weeks from initiation, so early January is our expectation for its completion. Could easily be sooner.
Q: Could you post the engagement letter for those who would like to see it?
A: I will see if I can post it to OTC MARKETS.
Q: What is going on with IOSOFT?
A: IOSOFT launch was delayed for 2 reasons: 1st is transition time, there is a lot more complexity to the integration than originally expected. 2nd is much of our original estimates came from the original IOSOFT team themselves. We currently have 3 IOSOFT contracts just launching now, and 6 more launching in the early January part of '18. All recent REV estimates we put out for '18 have not changed. $9.6M for '18, before any new contracts launch, and we are currently speaking with several A&G clients, who have a very large customer base to obtain more contracts. Much of the growing pains have been worked out, and '18 should finally get us the revenue we have always expected.
Q: What can you tell me about SILEX?
A: We are looking into an acquisition in a new region (FLA TX and NC). Once audited, we can complete what we have been working on. Acquisitions are expected to be a big part of '18. Also working on 2 additional franchise opportunities. All I can say about that.
Much of the rest of the convo was about his lack of communication with shareholders which (after speaking with him for an hour) seems to thankfully be over.
RON has been through a hell of alot these past couple of months with the knee replacement surgery right when the audit decision/change happened, and now it seems we will be back to where we were last spring.
I suggest anyone who is serious about this company to give him a call and leave him a message. He will call you back.
This is the real deal guys.. May not be as sexy as we all would like it to be, but the 10K is coming out this week (my guess is Thursday). No reason to think the numbers will be bad based on the call at all.
Most important for me is the line of communication is now back ON!
INVEST WISELY
