*CEO STEVE BERMAN CALL III*
I asked previously if he would call me after flying back to NY.
He said he would - promise kept.
Wanted to go over some recent contracts and potential deals:
1) FORD FLEET
Q: How did you get the FORD FLEET MEETING?
A: A close friend has a direct connection to the company. We sent them units to test and got the meeting not long after.
2) ENTERPRISE RENT A CAR
Q: How did you get the ENTERPRISE MEETING?
A: A friend works very closely with the company. They are testing units now. Interested in both the safe driving app as well as the tracking app. Goal is to have them installed in their rental cars to lower insurance rates, and track renters who break their contract by driving where they shouldnt.
Q: How could a deal like this roll out?
A: It would be a city by city state by state roll out.
3) SAN ANTONIO
Q: What can you tell me?!?
A: Meeting went fantastic... deal could be up to 10K units/year at $200/unit...Mayor is giving contract to the city council to vote on with an answer likely within the next 3 weeks. The reason he says "up to" 10K units/yr is city council could try to negotiate it or flat deny it. (Not politically expedient to turn this down) There is the labor day holiday in front of us which pushes the timeframe out a bit, but do the math this is potentially a $2M/yr contract which more than doubles our annual REVS overnight!
4) CO DOMICILE
Q: What's the latest here? We are past the 2 week timeframe you told me last call.
A: Since then, business has gone into overdrive... I've been working on, and traveling for SAN ANTONIO - FORD FLEET -
ENTERPRISE and one I cant name yet, but should be able to next week which has and continues to take up a majority of my time. These all could be millions each and they are an important part of our growth. I'm meeting the lawyers on Monday, and the clock that should have started 2 weeks ago should start then with the FORD FLEET MEETING happening TUESDAY. I will be travelling next week TUES - THURS. 10 more days after meeting lawyers should give enough time to finally finish this once and for all. Not happy I couldn't get this done when I said, but I think its worth another 10 days considering the possibilities that have come up since.
5) SAFE DRIVING APP + TRACKING APP FUNCTIONALITY
Q: What is the functionality of the safe driving APP?
A: When the wheels in your car start to move, all functionality for texting/talk/web browsing is disabled. When the wheels stop, functionality returns. It gives speed, and does have a kill switch, but if used it sends a text to the admin letting them know it's been disabled.
Q: What is the functionality of the tracking APP?
A: Its main use is 100% trackability, more precise than GPS, and can be tracked underground. ENTERPRISE is interested because rental contracts typically do not allow travel across state lines or a tri state area, yet people do just that. We have $400K in PRESALES already.
6) GUIDANCE
Q: Where do you see the company in 6 months?
A: We will have 4-5 different APPS and be a major global marketing company selling all over the world.
Q: This all seems to be ripe for a buyout. Would you be Interested?
A: I have already received several buyout offers but not interested at this time. My goal is to get to a buyout in the next 12-24 months. Its the natural course for a business like this, and really the only plausable way for me, my family and friends to turn our shares into cash. Between now and then I may need to sell some shares (I haven't taken a salary since I've been here, ive let my salary accrue until the company can pay me and stay healthy. Ive funded much out of my own pocket early on)
7) RS?
Q: There are rumors you are looking to do a reverse split here. True?
A: I get calls from shareholders everyday asking me that question. It is not even a consideration, and there are no plans any time in the near future. If I thought we could get on a major exchange and I couldn't get a satisfactory buyout, that would be the only way I would even consider it.
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