I had an opportunity to chat with Howe. One of my big concerns was ETLC. It looked like a simple pump n dump. If any of you played the telecommunications industry back in the mid 2000s you'll know that the industry was in upheaval. ETLC was in a position where they were one of the small up and comers that got shut out due to rule changes.
I personally worked for an R&D company that transitioned into a production and sales company a few years past. There were certainly many starts and stops as we moved product through our company and to market. This is exactly where IWEB is now.
IWEB has developed their products (IceSTORM plus their hardware) to the point that they can compete with anything on the market. But, they have been unable to crack sales on a large scale. Keep in mind that the last major upgrade to IceSTORM did not occur until late June. The 7000 was not available until March. In short though, the products are ready.
There is more than one sales model that can be used when a company is moving from R&D to full sales and production. After chatting with Howe about his successes with DELL and other companies, he believes that his sales model approach presents the correct opportunity to move IWEB's award winning products to market.
It was made clear to me that the 1st Qtr FY2013 (last calendar qtr this year) will show a marked improvement. The current qtr will be ugly as well, but not as ugly as the last qtr. He has only been on watch for three weeks!!
He is completely and totally committed to IWEB for the long run. He seems to be the polar opposite of prior leadership. Personally, after chatting with him, I am going to take him at his word. But, as we all know, results tell the truth.
My money is still with IWEB and its core of award winning products. Howe seems to be a heavy hitter with great credentials who is giving the sales/marketing problems his full and devoted attention as IWEB makes the very difficult transition from R&D to production and sales.
All of the above is simply my opinion. I wholheartedly recommend that anyone with questions zip an e-mail to the IR link on the IWEB web site and definitely listen to the Webcast that will be delivered next week. Howe did say he was extremely methodical about his business approach. I feel certain that at some point in the future we will get a live CC with a Q&A. For the moment all of his attention is focused on sales. The Webcast is something he feels current shareholders deserve and need to hear as he describes his personal vision of IWEB's future.
Very high risk/Very high reward potential
Good luck
