CEO Jonathan Sym returned my call.
We talked for at least 30 minutes. Here are some key points of our conversation:
-He has no affiliation with Patrick Downs. He doesn't even know who he is or how the rumor got started. He said he received numerous amounts of calls and e-mails regarding this issue. So let's put that rumor to rest!
-There are 3 offices for STS-Evermedia: Main office is in Pittsburgh. This is where the research and development takes place. He invited me or anyone who wishes, to visit this location and see for themselves, the products they are developing. Other office is in Texas and Boston. The Boston office is purely administrative and has about 3 employees only.
-He has been out of town, the reason he hasn't responded to the e-mails or telephone calls. He has been visting "Every Hedge Fund and Venture Capital Fund" discussing his company and products, trying to raise capital. He told me they were interested, however they would only offer to financially back him via Convertible Debentures, at ridiculous terms. Mr. Sym refused this and he was adamant about it. He does not want any part of this Toxic Financing.
I was extremely happy to hear this! Very rare for a pink sheet CEO to adopt this philosophy!!
-He doesn't know what happened to the plummet in Stock price. I asked if he was selling and he is not. His shares are restricted for 2 years. Also, most of the shares were bought by family and friends, in the Boston area he says, and those shares are also restricted.
-He personally reached an agreement with the Korean holders of the patent and purchased the rights from them himself. He believes their technology for the Iris Recognition is superior to Iridian's (The major player in this field). He stated that Iridian's technology is 20 years old and outdated. Also, STS-Evermedia is 1 of only 2 companies to have their own patent rights.
-There will be no Press releases. This is being purposely done. He doesn't want to issue any compensatory shares to IR/PR firms. Wants no part of "any pump and dump".
Any information will be released via the website. A new website has been completed and being proofed right now; it is expected to be up in 2-3 weeks. The old/present website was just "thrown together" quickly. Remember they have only been public since February and in business for 2 years total.
One thing he emphasized was his affiliation with the Department of Defense. He told me he has Top Secret Clearance with the DOD. This was some nice news! Also, he stressed the importance of being part of the Service Disabled Veteran Owned small business. A certain percentage of government contracts must be awarded to this classification of companies.
It was a pleasure talking with Mr. Sym! He was very enthusiastic about his company. I couldn't believe when he started talking about visiting Hedge Funds on the East Coast and rejecting Toxic Financing, definitely a breath of fresh air.
I urge anyone thinking about opening a position to call or write to him:
Phone: 617-878-2002
Fax: 617-371-2950
E-mail: info@stsevermedia.com
