I´ll copy this for you:
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Dear Shareholders,
Happy New Year.
First, I would like to thank you, the shareholder for your patience and understanding as we work through restructuring and changes to the business. All of it is exciting and will take INCA to another level. I am happy to update you on what we have been working on and the progress that has taken place over the past year.
As you already know INCA Designs has been maintaining a policy of corporate and investor silence for over a year. This policy was undertaken as part of a restructuring plan for our company, which began in 2008. This corporate restructuring was diverse in that it encompassed certain legal issues, management changes early on, debt negotiations, certain corporate actions that needed to be taken and finally, a revamping of our business plan and strategy going forward.
As shareholders I am sure that you have seen the press coverage we've garnered over the past six months for the 2010 collection and fashion show in Miami in July. Our intention is to continue to secure high circulation press coverage through brand recognition, quality and design. However, we as a company feel it’s best to keep public relations and/or investor relations separate as both speak to different subject matters and audiences.
One of out biggest challenges and changes over the past year has been a restructuring to become a more wholesale focused business. Over the next year this will become evident in our revenue growth and bottom line numbers. We have also been in talks with an auditor in New York, which we will name in an 8k filing when we engage the firm.
In our first quarter of wholesale business alone, we have signed 15 new retail accounts. I expect we'll see many more as we go into the second part of our season. We at INCA feel that swimwear has two seasons per year, the summer season and the cruise season. Cruise has always been our main focus but we are now concentrating on expanding the summer season which in the end, will improve our bottom line. Our goal is to capitalize on both seasons through a diversified wholesale and retail marketing plan. This marketing plan includes the development of our new e-commerce website www.theincacollection.com . The site provides a user-friendly outlet for customers to shop both INCA and INCAGIRL, learn about the brand and see all of the noteworthy press INCA has already received. Now on this easy to use website, INCA products are available nationwide. The site will enable our company to add online sales to the sum of our total sales.
Last but not least I would like to touch on the corporate structure, which has not changed since we last reported in 2008. As noted in our last 8k filed I continue to hold on to more than 50% of the issued and outstanding common stock. We have restructured the company, begun building out the brand, and created an online presence with our e-commerce site www.theincacollection.com without the need to dilute shareholders.
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We are giving real value to the company now, holding shares of what we feel will be a nice company. Stacy´s shares have more value than a year ago.
We all are the BIG WHALE that some of you don´t want to see.
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