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Gamecom/Ferris CEO ticker GAMZ e-mail concerning the correct conference call time.
Friends and shareholders:
I apologize for an inconsistency in the press release regarding the timing of tomorrow's shareholder conference call-in program.
The correct time is 4:15 pm EDT, 3:15 pm CDT, and 1:15 pm PDT.
I look forward to discussing GameCom/Ferris with you.
--L. Kelly Jones, GameCom/Ferris CEO
Gamecom/Ferris ticker GAMZ conference Call tomorrow...
Friends and shareholders:
Attached is this morning's press release announcing our shareholder call-in conference set for tomorrow afternoon.
I am very pleased to be hosting this shareholder conference call; it's something we had long planned to do, and we intend to continue on a regular basis in the future.
Merger? New product initiatives? Olympic financing package? Results of Phoenix show? New acquisitions? These are all fair game for tomorrow, and I point out that, since the conference has been publicly announced, I am liberated somewhat from the normal "materiality" issues regarding insider information.
This is your chance to find out why management at GameCom/Ferris is so excited about your company's future, and I hope you will be listening in, or, even better, will join in for a question or two.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom/Ferris CEO
Tuesday October 9, 8:13 am Eastern Time
Press Release
SOURCE: GameCom Inc.
GameCom/Ferris to Host Shareholder Conference Call
ARLINGTON, Texas--(BUSINESS WIRE)--Oct. 9, 2001--GameCom Inc. (OTCBB:GAMZ - news; www.GameComInc.com and www.FerrisVR.com), a leader in interactive virtual reality and Internet gaming, today announced that the company's chief executive officer, L. Kelly Jones, will host a conference call to discuss its recent merger, financing, product initiatives, long-term vision and other matters of shareholder interest.
The company's conference call will begin promptly at 4:15 p.m. Eastern Time (2:15 p.m. Central Time) on Wednesday, Oct. 10, 2001. To participate, please dial 800/387-6216 for the United States and Canada, or 416/405-9328 for international callers, at least 10 minutes before the conference call is to begin.
The call will also be available via Webcast upon registration at http://www.viavid.com/vvasx/000003CB00000000.asx. To ensure timely access to the Webcast, please allow five to 10 minutes prior to commencement of the call for online registration.
A digital playback of the call will be available until midnight of Oct. 11, 2001. The playback dial-in numbers are 800/408-3053 for the United States and Canada, or 416/695-5800 for international callers. Participants dialing into the playback must give the passcode of 930813 to enter the call.
Questions regarding the conference call can be directed to Judy Kim at 213/488-0443 or Steve Haag at 817/261-4269.
About GameCom/Ferris
GameCom/Ferris is a fully reporting, publicly traded Texas corporation headquartered in Arlington. With operations based in Phoenix, GameCom/Ferris designs, manufactures and assembles `Net GameLink(TM), an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world's largest and fastest-growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This news release contains certain forward-looking statements. Forward-looking statements are generally preceded by words such as ``plans,'' ``expects,'' ``believes,'' ``anticipates'' or ``intends.'' Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Magnum Financial Group LLC, Los Angeles
Michael S. Manahan, 213/488-0443
mike@magnumfinancial.com
Gamecom/Ferris ticker GAMZ conference Call tomorrow...
Friends and shareholders:
Attached is this morning's press release announcing our shareholder call-in conference set for tomorrow afternoon.
I am very pleased to be hosting this shareholder conference call; it's something we had long planned to do, and we intend to continue on a regular basis in the future.
Merger? New product initiatives? Olympic financing package? Results of Phoenix show? New acquisitions? These are all fair game for tomorrow, and I point out that, since the conference has been publicly announced, I am liberated somewhat from the normal "materiality" issues regarding insider information.
This is your chance to find out why management at GameCom/Ferris is so excited about your company's future, and I hope you will be listening in, or, even better, will join in for a question or two.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom/Ferris CEO
Tuesday October 9, 8:13 am Eastern Time
Press Release
SOURCE: GameCom Inc.
GameCom/Ferris to Host Shareholder Conference Call
ARLINGTON, Texas--(BUSINESS WIRE)--Oct. 9, 2001--GameCom Inc. (OTCBB:GAMZ - news; www.GameComInc.com and www.FerrisVR.com), a leader in interactive virtual reality and Internet gaming, today announced that the company's chief executive officer, L. Kelly Jones, will host a conference call to discuss its recent merger, financing, product initiatives, long-term vision and other matters of shareholder interest.
The company's conference call will begin promptly at 4:15 p.m. Eastern Time (2:15 p.m. Central Time) on Wednesday, Oct. 10, 2001. To participate, please dial 800/387-6216 for the United States and Canada, or 416/405-9328 for international callers, at least 10 minutes before the conference call is to begin.
The call will also be available via Webcast upon registration at http://www.viavid.com/vvasx/000003CB00000000.asx. To ensure timely access to the Webcast, please allow five to 10 minutes prior to commencement of the call for online registration.
A digital playback of the call will be available until midnight of Oct. 11, 2001. The playback dial-in numbers are 800/408-3053 for the United States and Canada, or 416/695-5800 for international callers. Participants dialing into the playback must give the passcode of 930813 to enter the call.
Questions regarding the conference call can be directed to Judy Kim at 213/488-0443 or Steve Haag at 817/261-4269.
About GameCom/Ferris
GameCom/Ferris is a fully reporting, publicly traded Texas corporation headquartered in Arlington. With operations based in Phoenix, GameCom/Ferris designs, manufactures and assembles `Net GameLink(TM), an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world's largest and fastest-growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This news release contains certain forward-looking statements. Forward-looking statements are generally preceded by words such as ``plans,'' ``expects,'' ``believes,'' ``anticipates'' or ``intends.'' Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Magnum Financial Group LLC, Los Angeles
Michael S. Manahan, 213/488-0443
mike@magnumfinancial.com
Gamecom/Ferris conference Call tomorrow...
Friends and shareholders:
Attached is this morning's press release announcing our shareholder call-in conference set for tomorrow afternoon.
I am very pleased to be hosting this shareholder conference call; it's something we had long planned to do, and we intend to continue on a regular basis in the future.
Merger? New product initiatives? Olympic financing package? Results of Phoenix show? New acquisitions? These are all fair game for tomorrow, and I point out that, since the conference has been publicly announced, I am liberated somewhat from the normal "materiality" issues regarding insider information.
This is your chance to find out why management at GameCom/Ferris is so excited about your company's future, and I hope you will be listening in, or, even better, will join in for a question or two.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom/Ferris CEO
Tuesday October 9, 8:13 am Eastern Time
Press Release
SOURCE: GameCom Inc.
GameCom/Ferris to Host Shareholder Conference Call
ARLINGTON, Texas--(BUSINESS WIRE)--Oct. 9, 2001--GameCom Inc. (OTCBB:GAMZ - news; www.GameComInc.com and www.FerrisVR.com), a leader in interactive virtual reality and Internet gaming, today announced that the company's chief executive officer, L. Kelly Jones, will host a conference call to discuss its recent merger, financing, product initiatives, long-term vision and other matters of shareholder interest.
The company's conference call will begin promptly at 4:15 p.m. Eastern Time (2:15 p.m. Central Time) on Wednesday, Oct. 10, 2001. To participate, please dial 800/387-6216 for the United States and Canada, or 416/405-9328 for international callers, at least 10 minutes before the conference call is to begin.
The call will also be available via Webcast upon registration at http://www.viavid.com/vvasx/000003CB00000000.asx. To ensure timely access to the Webcast, please allow five to 10 minutes prior to commencement of the call for online registration.
A digital playback of the call will be available until midnight of Oct. 11, 2001. The playback dial-in numbers are 800/408-3053 for the United States and Canada, or 416/695-5800 for international callers. Participants dialing into the playback must give the passcode of 930813 to enter the call.
Questions regarding the conference call can be directed to Judy Kim at 213/488-0443 or Steve Haag at 817/261-4269.
About GameCom/Ferris
GameCom/Ferris is a fully reporting, publicly traded Texas corporation headquartered in Arlington. With operations based in Phoenix, GameCom/Ferris designs, manufactures and assembles `Net GameLink(TM), an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world's largest and fastest-growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This news release contains certain forward-looking statements. Forward-looking statements are generally preceded by words such as ``plans,'' ``expects,'' ``believes,'' ``anticipates'' or ``intends.'' Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Magnum Financial Group LLC, Los Angeles
Michael S. Manahan, 213/488-0443
mike@magnumfinancial.com
To all information about the ASTC show I received today from Steve Haag. He said that there was a good turnout at the event and that there was marked interest from scores of exhibit directors and science center museum curators. The Ancient Eqypt exhibit was a major hit and Gamecom/Ferris brought all their products to the show. There were long lines for all the Gamecom/Ferris equipment at the show. They also had an Ocean Oasis exhibit that showed various sea life. There was also interest in their Netgamelink technology. Bob Ferris will give a lecture on Virtual Reality technology at 3:00 pm today so there may be additional interest coming Gamecom/Ferris' way.
Take Care,
Greg
Check out the new 3D technology Ferris is using....
DDD's 3D TV showcased by Ferris Productions at ASTC Conference, Oct. 6-9, Arizona Science Center, Phoenix. The above text is coming up in the breaking news box on the below website.
http://www.ddd.com/flash_index.asp
GameCom/Ferris debut VR product
http://phoenix.bcentral.com/phoenix/stories/2001/10/01/daily64.html
Greg
Gamecom/Ferris CEO e-mail...
Friends and shareholders:
Attached is this morning's press release announcing GameCom/Ferris' presence at the Association of Science and Technology Centers annual conference this weekend in Phoenix.
This is our first post-merger public appearance, and we have been looking forward to this opportunity for some time. Bob Ferris and his staff have been hard at work over the past few months on this initiative into the museum and science center market, and we believe GameCom/Ferris is uniquely qualified to exploit this opportunity. We anticipate a very successful show over the weekend.
I have also attached for your review transcripts of recent interviews with CEOcast and StockTalk.
After yesterday's close, there has been rampant speculation about "bad news," or insider selling. Please let me give an emphatic "no" to those rumors. The only activities we are aware of are all very exciting, and most of these initiatives have not been disclosed publicly. With a Bulletin Board stock, we have little control over the daily whims of the market. We do, however, control the company and its opportunities, and we continue to focus on building a company with solid revenue, growth potential, and unique product lines. With the Ferris merger behind us, we have never been closer to achieving our goal of having a solid company capable of being judged on sound business fundamentals.
I also point out that our focus has been on corporate and revenue growth, and not on promotional activity. That will begin to change, according to plan, as some of these current initiatives reach fruition.
In that vein, look for a press release next week announcing a dial-in teleconference with me next Wednesday at 4:15 EDT/1:15 PDT. The dial-in number will be 1-800-405-9328 and 1-416-405-9328 for international callers. As this call-in show will be publicly announced, the "materiality" restrictions will be lessened and I will be able to be a bit more forthcoming than securities laws normally require. I very much look forward to bring you up-to-date on our exciting progress.
Our company's opportunities have never been brighter.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom/Ferris CEO
CEOcast Interview
September 25, 2001
http://www.ceocast.com/company.cfm?cid=589&n=094452
Wachs: This is Michael Wachs with CEOcast. I’m visiting with L. Kelly Jones. Kelly is chief executive officer of GameCom, Inc., a company that trades over the counter under the Bulletin Board symbol “GAMZ,” and one that recently received shareholder approval for its merger with Ferris Productions. Kelly, thanks for joining CEOcast today.
Jones: My pleasure, Mike. I’m looking forward to visiting with you.
Wachs: I thought perhaps you could begin with an overview of the company and then we’ll get into the way that the Ferris acquisition changes the face of it.
Jones: Certainly Michael. With the Ferris merger consummated, we are the world’s largest and fastest growing producer of integrated hardware and software technology to the virtual reality industry, and we’re also a first-to-market emerging leader in the manufacture of interactive on-line computer gaming kiosks and kiosk control software.
Wachs: As you look at this combination now, what does this mean for the company in terms of creating scale, and why is Ferris such a good fit.
Jones: Well, it changes everything--it just simply changes everything, Michael. We have taken two companies that were incomplete, that needed to have additions to them, and they make together one nice integrated whole. We decided a few months ago that we needed to bring in an operating partner that was further along in the deployment of resources and with distributions channels, than what we had with trying to break into the market with our ‘Net GameLink™ system. From Ferris’ perspective, they were certainly in that same arena that we were, but they had also developed a virtual reality technology, and they needed a public vehicle to give them the capital to advance their interests. So, it gives both companies what they needed, and from a very, very important standpoint, not only are the businesses and the personnel complimentary, but management is as well. Bob Ferris, I think very, very highly of him. Bob has now become the president of the combined company, and I’m staying on as the CEO. We expect and have been witnessing and experiencing a seamless integration of these two companies.
Wachs: Kelly, although it is a nice problem to have, given the opportunities that are now presented, it also creates a challenge in terms of which ones to prioritize. How do you go about working through that.
Jones: We’re doing both, we’re doing both, Michael. We really do three things. We manufacture these kiosk gaming systems, we operate those types of systems at virtual reality zones at amusement parks around the country, and we do commercial special applications of virtual reality, such as our recently announced projects for Red Baron Pizza and Chevrolet with its Olympic Torch program. We are working simultaneously on all three fronts. We are now in late September, so the amusement park aspect is beginning to decline. But, we have very exciting operations under way, and proposals and contracts that we’re in the process of negotiating, both for deployment of our operating software and operating hardware for ‘Net GameLink™, as well as additional commercial applications of virtual reality. You were exactly correct -- it is problem with prioritizing, but we’ll prioritize what is most readily available to create value for the shareholders.
Wachs: Even while you are completing the acquisition, you are also pursuing other opportunities. What are some of the areas that you’re looking at today?
Jones: What we’re looking at now, are two companies. One is a smaller competitor of Ferris’ in the virtual reality area, primarily in terms of creating special event uses for virtual reality technology and the gaming machines. The reason that’s so important to us is that would give us the opportunity to use our machines on a more year-round basis. The other company we are looking at -- I can’t say too much about it -- but it gives us the opportunity to do a bit of horizontal integration within our industry and to broaden our perspective. One of the things that we announced last Friday was a consulting agreement with Olympic Holdings, which subsequently invested in our company. That developed out of our relationship that we have in New York with Prudential, and Olympic is looking for companies for us to acquire, and again, our looking at a particular company is how these discussions ultimately led into their investment in our company.
Wachs: As you look at the opportunities and this $1,000,000 in funding that you recently received on a committed basis. How then might you most effectively utilize it?
Jones: Certainly with any public company, especially a young public company like ours, there are many, many mouths to feed. We need to utilize those funds in a very controlled manner. We are concluding some contracts, we’ll know within the next few days, certainly we’ll need some of this money to complete these contracts, provided that we get them. We have no shortage of expenses to pay in conjunction with the proxy statement and all of the various professionals that are involved in a merger of this consequence. Although, mostly we’ll be using the money for growth capital to advance the interests of the company to generate revenue and to help toward a bottom line that’s in the black.
Wachs: Given the trends in the gaming sector, how do they differ perhaps in Internet gaming?
Jones: We think they very, very positively impact interactive Internet gaming. However, I want to point out that one of the things we’ve done with our kiosk software, and with the hardware as well, is create a platform that can be used in a number of different applications. We are working right now on a major contract in Europe that would use these kiosks for something other than interactive gaming. They’d still be interactive, they’d still be tied together, but they’d be for another use. One of the things we’re looking forward to is demonstrating the varied opportunities and applications of our ‘Net GameLink™ software.
Wachs: As you look at perhaps some of the companies, like THQ or Electronic Arts, where are you in your own development compared to theirs, and how would you compare yourselves to them in an early stage?
Jones: Apples and oranges. We will be licensing our software. Our operating software is different. We have our own software, we have our own what we call “EasyPlay” software. But if in terms of content, we’ll be licensing that, and that’s the type of thing that they do well, and something that we don’t do at all.
Wachs: As you look at revenue growth, how do you see if at all impacted by a softening economy as well as recent political events.
Jones: Well, it’s very difficult to tell, but I don’t think that it’s going to impact us significantly. There are opportunities that we have, and phone calls that we have received as recently as a few hours ago, that give us opportunities for virtual reality even more lucrative than before. One of the things I’ve been saying over and over again is that I think one of the greatest opportunities we have with this immersive virtual reality, a 360 degree pattern, is for deadly force training, and military applications. We can, for instance, put a cadet or a soldier in a 360 degree environment much, much more lifelike than anything that has been used before, and we have some current negotiations in that area as well. Certainly, the promotional aspects, we don’t think there’ll be a downturn there. The interactive gaming, certainly we don’t see a downturn there. We just frankly don’t see this negatively impacting our revenue growth.
Wachs: As we look at many of these markets, Kelly, what about the entertainment market. Are there particular areas within this that you might focus on?
Jones: Certainly, Michael, and it shows from the description of what we do. With interactive computer gaming, Forrester Research expects a ten-fold growth in our segment of that market, the pay-per-use segment, by 2005. Certainly the hardware, PlayStation, Xbox, get all the press, but if you look at industry analysts that have been following this industry, that’s not really the projected growth of this industry. We intend to be right in the middle of it.
Wachs: As you now look at the past profitability, how does the acquisition of Ferris change that? How do you balance growth efforts with profitability, Kelly?
Jones: It changes everything, because until now GameCom really did not have any revenue of any consequence, and because of trying to establish distribution channels which Ferris brings us. Ferris brings us a proven revenue stream -- 3.3 million last year, we should do 4-5 million this year -- and projections for significantly greater growth next year and the years to follow. The two companies’ combined resources present profitabilities in terms of economies of scale, and it certainly gives us the opportunity to put this company in the black with positive earnings per share, certainly we anticipate, during the year 2002.
Wachs: What kind of integration issues are involved and how long will it take?
Jones: We are pretty much integrated now. Once we passed the due diligence phase and knew that the merger was on, we started moving personnel back and forth, GameCom personnel to Phoenix where our operations are, some are Ferris’ personnel here in Arlington where our corporate and sales offices are, the integration is complete. We are off and running.
Wachs: What should investors now look for in the coming quarters and how long will it take for you to see some of the synergies now in terms of bottom line results in this combined entity?
Jones: I think investors could see some positive results from the synergies of the two companies as early as next week, depending on how certain negotiations go. I think investors can just watch the progress. Look and see how our sales go, look and see what type of major projects we announce, how the current projects, Red Baron Pizza and the Chevrolet Olympic Torch, how those are received, and see if we can indeed make inroads into military applications with regard to our virtual reality technology. I think the tale of our company will be told during the third and fourth quarters of this year.
Wachs: I have been speaking today with Kelly Jones. Kelly is chief executive officer of GameCom, Inc., a company that trades on the Bulletin Board under the symbol “GAMZ,” and one that through the merger with Ferris now not only provides investors with a much more diversified company, but also one that results are anticipated this calendar year. Kelly thanks for joining CEOcast today.
Jones: My pleasure, Michael. I enjoyed talking about our company.
Wachs: This has been Michael Wachs for CEOcast, where Wall Street listens.
The Stock Oracle/Stock Talk Interview
September 24, 2001
http://www.thestockoracle.com/Today%27s%20Interviews.htm
Tran: This is Stock Talk. Today on our show we are very fortunate to have Kelly Jones, CEO of GameCom/Ferris. How are you today, Kelly?
Jones: Stephen, I’m doing outstanding.
Tran: That’s great. Kelly, could you give us a little background information on GameCom/Ferris?
Jones: I’d be happy to. GameCom was founded a few years ago. We have been developing a product called ‘Net GameLink™. We just this morning announced the conclusion of our merger with Ferris Productions. Ferris is the largest virtual reality company in the world. We started having our talks in January, we began to speak in earnest in March, and are very, very pleased with this conclusion today. This changes an awful lot of things for GameCom. It brings us a very viable company. It brings us a proven revenue stream. As I have mentioned, it changes everything. We do essentially three things -- 1) we manufacture interactive entertainment systems, primarily in interactive computer gaming, 2) we operate virtual reality theme park locations at 15 different theme parks across the country, and 3) as I mentioned, Ferris is very heavily involved in virtual reality, and the exciting aspect is the commercial opportunities that we have for virtual reality. That’s GameCom/Ferris in a nutshell.
Tran: I actually understand that you were able to raise one million dollars. How were you able to do that in such a difficult market?
Jones: Well, it wasn’t easy. You have to believe in your company, and you have to talk to enough people to find that one person who can share your enthusiasm. We did talk with an awful lot of investment bankers -- received mostly the death spiral convertible proposals that do your company no good in the long run -- but we finally found the right people that could see where we were going and appreciated the enthusiasm that we have, and the commitment that we have, and we were able to come up with a very, very, very favorable investment package.
Tran: I would imagine you’ve got some fairly extensive expansion plans.
Jones: We do indeed. Of course, the completion of this merger will give us a few things logistically to chew through for the next 30 days or so. But we are working on two or three major, major projects that, well, one of them would double the revenue to date for the company, and we are also are looking forward to the opportunity to continue to acquire other companies. One of the things that we announced on Friday, in addition to the one million dollar debenture with Olympic Holdings, was that we had also retained them to find us suitable acquisition targets. And back to the fundraising, that’s really where that came from. We originally began talking with Olympic about acquiring a company that they have some involvement with, but as the conversations continued, we ultimately came around to them investing in GameCom.
Tran: There’s an awful lot of VR firms out there. What was it that first attracted you relative to Ferris as an acquisition target?
Jones: The quality of the people, the quality of their products. As I mentioned, GameCom had developed a product called ‘Net GameLink™, and it’s a very unique type of entertainment platform for interactive computer gaming. We made the decision around the first of this year that to really grow the company the way we wanted to, and to get off the Bulletin Board and onto an exchange, the best way for us to do that in an expeditious manner was to acquire the right private company in our market segment. We looked around. We actually entered into a letter of intent with another company, but the more we looked, and the more we heard, and the more we talked, Ferris VR was the company that we wanted. They have a tremendous respect within the industry, and our management team meshed with theirs just instantaneously. It has been and we expect it to continue to be a perfect fit -- a completion of two previously incomplete companies.
Tran: From a revenue point of view, Kelly, what sort of effects do you think the merger’s going to have?
Jones: From the GameCom perspective, it changes everything. We were coming out of research and development, so we had no significant revenue at the time of the merger; whereas, Ferris is an older company -- Ferris has been around for about a decade -- Ferris last year brought in revenue of about 3.3 to the bottom line. This year, we think that projection is about five million, and we think next year we could get up in the range of ten million. So, from a revenue standpoint, it changes lots of things. It makes us a very viable company.
Tran: Relative to targeting, are there any particular industries you are going after?
Jones: We want to stay in our own industry. We are looking at two different companies right now. One is a competitor of Ferris’, quite a bit smaller, but it’s one that will allow us to utilize our equipment -- I mentioned that we operate in 15 different theme parks -- one of the challenges that we have is to use that equipment on a year-round basis. So, one of the companies that we are looking at is actually a small competitor of Ferris’ that’s very good at utilizing this type of equipment year-round. The other company we are looking at is a related industry. It’s a much larger company with some very proven contracts. So, we want to stay within our industry. We want to expand our breadth within this industry, but is like the computer gaming and the virtual reality industries.
Tran: Where do you see the company going in the future?
Jones: As I mentioned, it is our ultimate goal to get off the Bulletin Board and get onto an established exchange. We have a number of very exciting tradeshows within the next couple of months. Profitability is one. We should finish the year right around break-even. Certainly, we should get into the black during 2002. Who knows? This is a very difficult and unusual economy right now. It was great to see the Dow and NASDAQ come back strongly today. Where will we be? We don’t know in these uncertain times, but what we do know is that we have very real opportunities to exploit, and we intend to do exactly that.
Tran: That’s sound great. Kelly, I certainly do appreciate your taking time out of your day to come on the show. Is there anything you’d like to say to the investors and brokers that are listening to you right now?
Jones: Continue to watch us. We have a lot of exciting things in the works, contracts that we’re currently negotiating, things such as the Chevrolet project that we’re completing, the Red Baron project. Keep an eye on us, we have initiatives into Europe and Asia, and I think you might want to keep an eye on those.
Tran: Sounds great. Listen Kelly. Thanks a lot for coming on board.
Jones: My pleasure, Stephen.
Tran: Take care, have a great day.
Jones: Thank you.
FOR IMMEDIATE RELEASE
For Investor Relations Contact:
Magnum Financial Group, LLC
Michael Manahan, principal
Los Angeles, California
213-488-0443
mike@magnumfinancial.com
GameCom/Ferris Debuts New VR Product to Science Center Conference
Phoenix, AZ- October 5, 2001: GameCom, Inc (OTCBB: GAMZ), www.GameComInc.com and www.FerrisVR.com, a leader in interactive virtual reality and interactive gaming, today announced the debut of the company’s new VR product -- the Universe® VR 720 -- a customizable, multi-seat, 360-degree, immersive virtual reality theater system, at the Association of Science and Technology Centers (“ASTC”) annual conference at the Civic Center in Phoenix, Arizona.
“Along with this weekend’s virtual reality demonstrations of our new system, the company’s president, Bob Ferris, will be making an address to the ASTC membership regarding the future of high-tech attractions for science centers, museums, and educational institutions at 3:00 pm. on Monday, October 8th,” commented Steve Haag, GameCom/Ferris’ vice-president of business development.
GameCom/Ferris’ staff will be available throughout the conference giving live demonstrations and providing the conference attendees with information regarding groundbreaking technology.
Mr. Ferris stated, “Our market research indicates that the museum and science center industry is ready for high-tech attractions, including brand new virtual reality products that deliver superior value. This marks our first post-merger market expansion. GameCom/Ferris’ technology is exceptionally well-suited to provide experiential education in a new and exciting format.”
“We will be taking people back in time 4,500 years to the world's most realistic re-creation of the construction of the Egyptian pyramids. In another experience, we will shrink people to the size of an atom, allowing them to explore the atomic world for the first time. These experiences, at an entirely new level of realism, are never-before-seen technology,” Ferris concluded.
About GameCom/Ferris
GameCom/Ferris is a fully-reporting, publicly traded Texas corporation headquartered in Arlington, Texas. With operations based in Phoenix, Arizona, GameCom/Ferris designs, manufactures, and assembles ‘Net GameLink™, an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world’s largest and fastest growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This press release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as “plans,” “expects,” “believes,” “anticipates,” or “intends.” Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Gamecom/Ferris CEO E-mail.
Friends and shareholders:
Attached is this morning's press release announcing GameCom/Ferris' presence at the Association of Science and Technology Centers annual conference this weekend in Phoenix.
This is our first post-merger public appearance, and we have been looking forward to this opportunity for some time. Bob Ferris and his staff have been hard at work over the past few months on this initiative into the museum and science center market, and we believe GameCom/Ferris is uniquely qualified to exploit this opportunity. We anticipate a very successful show over the weekend.
I have also attached for your review transcripts of recent interviews with CEOcast and StockTalk.
After yesterday's close, there has been rampant speculation about "bad news," or insider selling. Please let me give an emphatic "no" to those rumors. The only activities we are aware of are all very exciting, and most of these initiatives have not been disclosed publicly. With a Bulletin Board stock, we have little control over the daily whims of the market. We do, however, control the company and its opportunities, and we continue to focus on building a company with solid revenue, growth potential, and unique product lines. With the Ferris merger behind us, we have never been closer to achieving our goal of having a solid company capable of being judged on sound business fundamentals.
I also point out that our focus has been on corporate and revenue growth, and not on promotional activity. That will begin to change, according to plan, as some of these current initiatives reach fruition.
In that vein, look for a press release next week announcing a dial-in teleconference with me next Wednesday at 4:15 EDT/1:15 PDT. The dial-in number will be 1-800-405-9328 and 1-416-405-9328 for international callers. As this call-in show will be publicly announced, the "materiality" restrictions will be lessened and I will be able to be a bit more forthcoming than securities laws normally require. I very much look forward to bring you up-to-date on our exciting progress.
Our company's opportunities have never been brighter.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom/Ferris CEO
CEOcast Interview
September 25, 2001
http://www.ceocast.com/company.cfm?cid=589&n=094452
Wachs: This is Michael Wachs with CEOcast. I’m visiting with L. Kelly Jones. Kelly is chief executive officer of GameCom, Inc., a company that trades over the counter under the Bulletin Board symbol “GAMZ,” and one that recently received shareholder approval for its merger with Ferris Productions. Kelly, thanks for joining CEOcast today.
Jones: My pleasure, Mike. I’m looking forward to visiting with you.
Wachs: I thought perhaps you could begin with an overview of the company and then we’ll get into the way that the Ferris acquisition changes the face of it.
Jones: Certainly Michael. With the Ferris merger consummated, we are the world’s largest and fastest growing producer of integrated hardware and software technology to the virtual reality industry, and we’re also a first-to-market emerging leader in the manufacture of interactive on-line computer gaming kiosks and kiosk control software.
Wachs: As you look at this combination now, what does this mean for the company in terms of creating scale, and why is Ferris such a good fit.
Jones: Well, it changes everything--it just simply changes everything, Michael. We have taken two companies that were incomplete, that needed to have additions to them, and they make together one nice integrated whole. We decided a few months ago that we needed to bring in an operating partner that was further along in the deployment of resources and with distributions channels, than what we had with trying to break into the market with our ‘Net GameLink™ system. From Ferris’ perspective, they were certainly in that same arena that we were, but they had also developed a virtual reality technology, and they needed a public vehicle to give them the capital to advance their interests. So, it gives both companies what they needed, and from a very, very important standpoint, not only are the businesses and the personnel complimentary, but management is as well. Bob Ferris, I think very, very highly of him. Bob has now become the president of the combined company, and I’m staying on as the CEO. We expect and have been witnessing and experiencing a seamless integration of these two companies.
Wachs: Kelly, although it is a nice problem to have, given the opportunities that are now presented, it also creates a challenge in terms of which ones to prioritize. How do you go about working through that.
Jones: We’re doing both, we’re doing both, Michael. We really do three things. We manufacture these kiosk gaming systems, we operate those types of systems at virtual reality zones at amusement parks around the country, and we do commercial special applications of virtual reality, such as our recently announced projects for Red Baron Pizza and Chevrolet with its Olympic Torch program. We are working simultaneously on all three fronts. We are now in late September, so the amusement park aspect is beginning to decline. But, we have very exciting operations under way, and proposals and contracts that we’re in the process of negotiating, both for deployment of our operating software and operating hardware for ‘Net GameLink™, as well as additional commercial applications of virtual reality. You were exactly correct -- it is problem with prioritizing, but we’ll prioritize what is most readily available to create value for the shareholders.
Wachs: Even while you are completing the acquisition, you are also pursuing other opportunities. What are some of the areas that you’re looking at today?
Jones: What we’re looking at now, are two companies. One is a smaller competitor of Ferris’ in the virtual reality area, primarily in terms of creating special event uses for virtual reality technology and the gaming machines. The reason that’s so important to us is that would give us the opportunity to use our machines on a more year-round basis. The other company we are looking at -- I can’t say too much about it -- but it gives us the opportunity to do a bit of horizontal integration within our industry and to broaden our perspective. One of the things that we announced last Friday was a consulting agreement with Olympic Holdings, which subsequently invested in our company. That developed out of our relationship that we have in New York with Prudential, and Olympic is looking for companies for us to acquire, and again, our looking at a particular company is how these discussions ultimately led into their investment in our company.
Wachs: As you look at the opportunities and this $1,000,000 in funding that you recently received on a committed basis. How then might you most effectively utilize it?
Jones: Certainly with any public company, especially a young public company like ours, there are many, many mouths to feed. We need to utilize those funds in a very controlled manner. We are concluding some contracts, we’ll know within the next few days, certainly we’ll need some of this money to complete these contracts, provided that we get them. We have no shortage of expenses to pay in conjunction with the proxy statement and all of the various professionals that are involved in a merger of this consequence. Although, mostly we’ll be using the money for growth capital to advance the interests of the company to generate revenue and to help toward a bottom line that’s in the black.
Wachs: Given the trends in the gaming sector, how do they differ perhaps in Internet gaming?
Jones: We think they very, very positively impact interactive Internet gaming. However, I want to point out that one of the things we’ve done with our kiosk software, and with the hardware as well, is create a platform that can be used in a number of different applications. We are working right now on a major contract in Europe that would use these kiosks for something other than interactive gaming. They’d still be interactive, they’d still be tied together, but they’d be for another use. One of the things we’re looking forward to is demonstrating the varied opportunities and applications of our ‘Net GameLink™ software.
Wachs: As you look at perhaps some of the companies, like THQ or Electronic Arts, where are you in your own development compared to theirs, and how would you compare yourselves to them in an early stage?
Jones: Apples and oranges. We will be licensing our software. Our operating software is different. We have our own software, we have our own what we call “EasyPlay” software. But if in terms of content, we’ll be licensing that, and that’s the type of thing that they do well, and something that we don’t do at all.
Wachs: As you look at revenue growth, how do you see if at all impacted by a softening economy as well as recent political events.
Jones: Well, it’s very difficult to tell, but I don’t think that it’s going to impact us significantly. There are opportunities that we have, and phone calls that we have received as recently as a few hours ago, that give us opportunities for virtual reality even more lucrative than before. One of the things I’ve been saying over and over again is that I think one of the greatest opportunities we have with this immersive virtual reality, a 360 degree pattern, is for deadly force training, and military applications. We can, for instance, put a cadet or a soldier in a 360 degree environment much, much more lifelike than anything that has been used before, and we have some current negotiations in that area as well. Certainly, the promotional aspects, we don’t think there’ll be a downturn there. The interactive gaming, certainly we don’t see a downturn there. We just frankly don’t see this negatively impacting our revenue growth.
Wachs: As we look at many of these markets, Kelly, what about the entertainment market. Are there particular areas within this that you might focus on?
Jones: Certainly, Michael, and it shows from the description of what we do. With interactive computer gaming, Forrester Research expects a ten-fold growth in our segment of that market, the pay-per-use segment, by 2005. Certainly the hardware, PlayStation, Xbox, get all the press, but if you look at industry analysts that have been following this industry, that’s not really the projected growth of this industry. We intend to be right in the middle of it.
Wachs: As you now look at the past profitability, how does the acquisition of Ferris change that? How do you balance growth efforts with profitability, Kelly?
Jones: It changes everything, because until now GameCom really did not have any revenue of any consequence, and because of trying to establish distribution channels which Ferris brings us. Ferris brings us a proven revenue stream -- 3.3 million last year, we should do 4-5 million this year -- and projections for significantly greater growth next year and the years to follow. The two companies’ combined resources present profitabilities in terms of economies of scale, and it certainly gives us the opportunity to put this company in the black with positive earnings per share, certainly we anticipate, during the year 2002.
Wachs: What kind of integration issues are involved and how long will it take?
Jones: We are pretty much integrated now. Once we passed the due diligence phase and knew that the merger was on, we started moving personnel back and forth, GameCom personnel to Phoenix where our operations are, some are Ferris’ personnel here in Arlington where our corporate and sales offices are, the integration is complete. We are off and running.
Wachs: What should investors now look for in the coming quarters and how long will it take for you to see some of the synergies now in terms of bottom line results in this combined entity?
Jones: I think investors could see some positive results from the synergies of the two companies as early as next week, depending on how certain negotiations go. I think investors can just watch the progress. Look and see how our sales go, look and see what type of major projects we announce, how the current projects, Red Baron Pizza and the Chevrolet Olympic Torch, how those are received, and see if we can indeed make inroads into military applications with regard to our virtual reality technology. I think the tale of our company will be told during the third and fourth quarters of this year.
Wachs: I have been speaking today with Kelly Jones. Kelly is chief executive officer of GameCom, Inc., a company that trades on the Bulletin Board under the symbol “GAMZ,” and one that through the merger with Ferris now not only provides investors with a much more diversified company, but also one that results are anticipated this calendar year. Kelly thanks for joining CEOcast today.
Jones: My pleasure, Michael. I enjoyed talking about our company.
Wachs: This has been Michael Wachs for CEOcast, where Wall Street listens.
The Stock Oracle/Stock Talk Interview
September 24, 2001
http://www.thestockoracle.com/Today%27s%20Interviews.htm
Tran: This is Stock Talk. Today on our show we are very fortunate to have Kelly Jones, CEO of GameCom/Ferris. How are you today, Kelly?
Jones: Stephen, I’m doing outstanding.
Tran: That’s great. Kelly, could you give us a little background information on GameCom/Ferris?
Jones: I’d be happy to. GameCom was founded a few years ago. We have been developing a product called ‘Net GameLink™. We just this morning announced the conclusion of our merger with Ferris Productions. Ferris is the largest virtual reality company in the world. We started having our talks in January, we began to speak in earnest in March, and are very, very pleased with this conclusion today. This changes an awful lot of things for GameCom. It brings us a very viable company. It brings us a proven revenue stream. As I have mentioned, it changes everything. We do essentially three things -- 1) we manufacture interactive entertainment systems, primarily in interactive computer gaming, 2) we operate virtual reality theme park locations at 15 different theme parks across the country, and 3) as I mentioned, Ferris is very heavily involved in virtual reality, and the exciting aspect is the commercial opportunities that we have for virtual reality. That’s GameCom/Ferris in a nutshell.
Tran: I actually understand that you were able to raise one million dollars. How were you able to do that in such a difficult market?
Jones: Well, it wasn’t easy. You have to believe in your company, and you have to talk to enough people to find that one person who can share your enthusiasm. We did talk with an awful lot of investment bankers -- received mostly the death spiral convertible proposals that do your company no good in the long run -- but we finally found the right people that could see where we were going and appreciated the enthusiasm that we have, and the commitment that we have, and we were able to come up with a very, very, very favorable investment package.
Tran: I would imagine you’ve got some fairly extensive expansion plans.
Jones: We do indeed. Of course, the completion of this merger will give us a few things logistically to chew through for the next 30 days or so. But we are working on two or three major, major projects that, well, one of them would double the revenue to date for the company, and we are also are looking forward to the opportunity to continue to acquire other companies. One of the things that we announced on Friday, in addition to the one million dollar debenture with Olympic Holdings, was that we had also retained them to find us suitable acquisition targets. And back to the fundraising, that’s really where that came from. We originally began talking with Olympic about acquiring a company that they have some involvement with, but as the conversations continued, we ultimately came around to them investing in GameCom.
Tran: There’s an awful lot of VR firms out there. What was it that first attracted you relative to Ferris as an acquisition target?
Jones: The quality of the people, the quality of their products. As I mentioned, GameCom had developed a product called ‘Net GameLink™, and it’s a very unique type of entertainment platform for interactive computer gaming. We made the decision around the first of this year that to really grow the company the way we wanted to, and to get off the Bulletin Board and onto an exchange, the best way for us to do that in an expeditious manner was to acquire the right private company in our market segment. We looked around. We actually entered into a letter of intent with another company, but the more we looked, and the more we heard, and the more we talked, Ferris VR was the company that we wanted. They have a tremendous respect within the industry, and our management team meshed with theirs just instantaneously. It has been and we expect it to continue to be a perfect fit -- a completion of two previously incomplete companies.
Tran: From a revenue point of view, Kelly, what sort of effects do you think the merger’s going to have?
Jones: From the GameCom perspective, it changes everything. We were coming out of research and development, so we had no significant revenue at the time of the merger; whereas, Ferris is an older company -- Ferris has been around for about a decade -- Ferris last year brought in revenue of about 3.3 to the bottom line. This year, we think that projection is about five million, and we think next year we could get up in the range of ten million. So, from a revenue standpoint, it changes lots of things. It makes us a very viable company.
Tran: Relative to targeting, are there any particular industries you are going after?
Jones: We want to stay in our own industry. We are looking at two different companies right now. One is a competitor of Ferris’, quite a bit smaller, but it’s one that will allow us to utilize our equipment -- I mentioned that we operate in 15 different theme parks -- one of the challenges that we have is to use that equipment on a year-round basis. So, one of the companies that we are looking at is actually a small competitor of Ferris’ that’s very good at utilizing this type of equipment year-round. The other company we are looking at is a related industry. It’s a much larger company with some very proven contracts. So, we want to stay within our industry. We want to expand our breadth within this industry, but is like the computer gaming and the virtual reality industries.
Tran: Where do you see the company going in the future?
Jones: As I mentioned, it is our ultimate goal to get off the Bulletin Board and get onto an established exchange. We have a number of very exciting tradeshows within the next couple of months. Profitability is one. We should finish the year right around break-even. Certainly, we should get into the black during 2002. Who knows? This is a very difficult and unusual economy right now. It was great to see the Dow and NASDAQ come back strongly today. Where will we be? We don’t know in these uncertain times, but what we do know is that we have very real opportunities to exploit, and we intend to do exactly that.
Tran: That’s sound great. Kelly, I certainly do appreciate your taking time out of your day to come on the show. Is there anything you’d like to say to the investors and brokers that are listening to you right now?
Jones: Continue to watch us. We have a lot of exciting things in the works, contracts that we’re currently negotiating, things such as the Chevrolet project that we’re completing, the Red Baron project. Keep an eye on us, we have initiatives into Europe and Asia, and I think you might want to keep an eye on those.
Tran: Sounds great. Listen Kelly. Thanks a lot for coming on board.
Jones: My pleasure, Stephen.
Tran: Take care, have a great day.
Jones: Thank you.
FOR IMMEDIATE RELEASE
For Investor Relations Contact:
Magnum Financial Group, LLC
Michael Manahan, principal
Los Angeles, California
213-488-0443
mike@magnumfinancial.com
GameCom/Ferris Debuts New VR Product to Science Center Conference
Phoenix, AZ- October 5, 2001: GameCom, Inc (OTCBB: GAMZ), www.GameComInc.com and www.FerrisVR.com, a leader in interactive virtual reality and interactive gaming, today announced the debut of the company’s new VR product -- the Universe® VR 720 -- a customizable, multi-seat, 360-degree, immersive virtual reality theater system, at the Association of Science and Technology Centers (“ASTC”) annual conference at the Civic Center in Phoenix, Arizona.
“Along with this weekend’s virtual reality demonstrations of our new system, the company’s president, Bob Ferris, will be making an address to the ASTC membership regarding the future of high-tech attractions for science centers, museums, and educational institutions at 3:00 pm. on Monday, October 8th,” commented Steve Haag, GameCom/Ferris’ vice-president of business development.
GameCom/Ferris’ staff will be available throughout the conference giving live demonstrations and providing the conference attendees with information regarding groundbreaking technology.
Mr. Ferris stated, “Our market research indicates that the museum and science center industry is ready for high-tech attractions, including brand new virtual reality products that deliver superior value. This marks our first post-merger market expansion. GameCom/Ferris’ technology is exceptionally well-suited to provide experiential education in a new and exciting format.”
“We will be taking people back in time 4,500 years to the world's most realistic re-creation of the construction of the Egyptian pyramids. In another experience, we will shrink people to the size of an atom, allowing them to explore the atomic world for the first time. These experiences, at an entirely new level of realism, are never-before-seen technology,” Ferris concluded.
About GameCom/Ferris
GameCom/Ferris is a fully-reporting, publicly traded Texas corporation headquartered in Arlington, Texas. With operations based in Phoenix, Arizona, GameCom/Ferris designs, manufactures, and assembles ‘Net GameLink™, an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world’s largest and fastest growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This press release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as “plans,” “expects,” “believes,” “anticipates,” or “intends.” Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
Kelly's shareholder e-mail...
Friends and shareholders:
Attached is this morning's press release announcing GameCom/Ferris' presence at the Association of Science and Technology Centers annual conference this weekend in Phoenix.
This is our first post-merger public appearance, and we have been looking forward to this opportunity for some time. Bob Ferris and his staff have been hard at work over the past few months on this initiative into the museum and science center market, and we believe GameCom/Ferris is uniquely qualified to exploit this opportunity. We anticipate a very successful show over the weekend.
I have also attached for your review transcripts of recent interviews with CEOcast and StockTalk.
After yesterday's close, there has been rampant speculation about "bad news," or insider selling. Please let me give an emphatic "no" to those rumors. The only activities we are aware of are all very exciting, and most of these initiatives have not been disclosed publicly. With a Bulletin Board stock, we have little control over the daily whims of the market. We do, however, control the company and its opportunities, and we continue to focus on building a company with solid revenue, growth potential, and unique product lines. With the Ferris merger behind us, we have never been closer to achieving our goal of having a solid company capable of being judged on sound business fundamentals.
I also point out that our focus has been on corporate and revenue growth, and not on promotional activity. That will begin to change, according to plan, as some of these current initiatives reach fruition.
In that vein, look for a press release next week announcing a dial-in teleconference with me next Wednesday at 4:15 EDT/1:15 PDT. The dial-in number will be 1-800-405-9328 and 1-416-405-9328 for international callers. As this call-in show will be publicly announced, the "materiality" restrictions will be lessened and I will be able to be a bit more forthcoming than securities laws normally require. I very much look forward to bring you up-to-date on our exciting progress.
Our company's opportunities have never been brighter.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom/Ferris CEO
CEOcast Interview
September 25, 2001
http://www.ceocast.com/company.cfm?cid=589&n=094452
Wachs: This is Michael Wachs with CEOcast. I’m visiting with L. Kelly Jones. Kelly is chief executive officer of GameCom, Inc., a company that trades over the counter under the Bulletin Board symbol “GAMZ,” and one that recently received shareholder approval for its merger with Ferris Productions. Kelly, thanks for joining CEOcast today.
Jones: My pleasure, Mike. I’m looking forward to visiting with you.
Wachs: I thought perhaps you could begin with an overview of the company and then we’ll get into the way that the Ferris acquisition changes the face of it.
Jones: Certainly Michael. With the Ferris merger consummated, we are the world’s largest and fastest growing producer of integrated hardware and software technology to the virtual reality industry, and we’re also a first-to-market emerging leader in the manufacture of interactive on-line computer gaming kiosks and kiosk control software.
Wachs: As you look at this combination now, what does this mean for the company in terms of creating scale, and why is Ferris such a good fit.
Jones: Well, it changes everything--it just simply changes everything, Michael. We have taken two companies that were incomplete, that needed to have additions to them, and they make together one nice integrated whole. We decided a few months ago that we needed to bring in an operating partner that was further along in the deployment of resources and with distributions channels, than what we had with trying to break into the market with our ‘Net GameLink™ system. From Ferris’ perspective, they were certainly in that same arena that we were, but they had also developed a virtual reality technology, and they needed a public vehicle to give them the capital to advance their interests. So, it gives both companies what they needed, and from a very, very important standpoint, not only are the businesses and the personnel complimentary, but management is as well. Bob Ferris, I think very, very highly of him. Bob has now become the president of the combined company, and I’m staying on as the CEO. We expect and have been witnessing and experiencing a seamless integration of these two companies.
Wachs: Kelly, although it is a nice problem to have, given the opportunities that are now presented, it also creates a challenge in terms of which ones to prioritize. How do you go about working through that.
Jones: We’re doing both, we’re doing both, Michael. We really do three things. We manufacture these kiosk gaming systems, we operate those types of systems at virtual reality zones at amusement parks around the country, and we do commercial special applications of virtual reality, such as our recently announced projects for Red Baron Pizza and Chevrolet with its Olympic Torch program. We are working simultaneously on all three fronts. We are now in late September, so the amusement park aspect is beginning to decline. But, we have very exciting operations under way, and proposals and contracts that we’re in the process of negotiating, both for deployment of our operating software and operating hardware for ‘Net GameLink™, as well as additional commercial applications of virtual reality. You were exactly correct -- it is problem with prioritizing, but we’ll prioritize what is most readily available to create value for the shareholders.
Wachs: Even while you are completing the acquisition, you are also pursuing other opportunities. What are some of the areas that you’re looking at today?
Jones: What we’re looking at now, are two companies. One is a smaller competitor of Ferris’ in the virtual reality area, primarily in terms of creating special event uses for virtual reality technology and the gaming machines. The reason that’s so important to us is that would give us the opportunity to use our machines on a more year-round basis. The other company we are looking at -- I can’t say too much about it -- but it gives us the opportunity to do a bit of horizontal integration within our industry and to broaden our perspective. One of the things that we announced last Friday was a consulting agreement with Olympic Holdings, which subsequently invested in our company. That developed out of our relationship that we have in New York with Prudential, and Olympic is looking for companies for us to acquire, and again, our looking at a particular company is how these discussions ultimately led into their investment in our company.
Wachs: As you look at the opportunities and this $1,000,000 in funding that you recently received on a committed basis. How then might you most effectively utilize it?
Jones: Certainly with any public company, especially a young public company like ours, there are many, many mouths to feed. We need to utilize those funds in a very controlled manner. We are concluding some contracts, we’ll know within the next few days, certainly we’ll need some of this money to complete these contracts, provided that we get them. We have no shortage of expenses to pay in conjunction with the proxy statement and all of the various professionals that are involved in a merger of this consequence. Although, mostly we’ll be using the money for growth capital to advance the interests of the company to generate revenue and to help toward a bottom line that’s in the black.
Wachs: Given the trends in the gaming sector, how do they differ perhaps in Internet gaming?
Jones: We think they very, very positively impact interactive Internet gaming. However, I want to point out that one of the things we’ve done with our kiosk software, and with the hardware as well, is create a platform that can be used in a number of different applications. We are working right now on a major contract in Europe that would use these kiosks for something other than interactive gaming. They’d still be interactive, they’d still be tied together, but they’d be for another use. One of the things we’re looking forward to is demonstrating the varied opportunities and applications of our ‘Net GameLink™ software.
Wachs: As you look at perhaps some of the companies, like THQ or Electronic Arts, where are you in your own development compared to theirs, and how would you compare yourselves to them in an early stage?
Jones: Apples and oranges. We will be licensing our software. Our operating software is different. We have our own software, we have our own what we call “EasyPlay” software. But if in terms of content, we’ll be licensing that, and that’s the type of thing that they do well, and something that we don’t do at all.
Wachs: As you look at revenue growth, how do you see if at all impacted by a softening economy as well as recent political events.
Jones: Well, it’s very difficult to tell, but I don’t think that it’s going to impact us significantly. There are opportunities that we have, and phone calls that we have received as recently as a few hours ago, that give us opportunities for virtual reality even more lucrative than before. One of the things I’ve been saying over and over again is that I think one of the greatest opportunities we have with this immersive virtual reality, a 360 degree pattern, is for deadly force training, and military applications. We can, for instance, put a cadet or a soldier in a 360 degree environment much, much more lifelike than anything that has been used before, and we have some current negotiations in that area as well. Certainly, the promotional aspects, we don’t think there’ll be a downturn there. The interactive gaming, certainly we don’t see a downturn there. We just frankly don’t see this negatively impacting our revenue growth.
Wachs: As we look at many of these markets, Kelly, what about the entertainment market. Are there particular areas within this that you might focus on?
Jones: Certainly, Michael, and it shows from the description of what we do. With interactive computer gaming, Forrester Research expects a ten-fold growth in our segment of that market, the pay-per-use segment, by 2005. Certainly the hardware, PlayStation, Xbox, get all the press, but if you look at industry analysts that have been following this industry, that’s not really the projected growth of this industry. We intend to be right in the middle of it.
Wachs: As you now look at the past profitability, how does the acquisition of Ferris change that? How do you balance growth efforts with profitability, Kelly?
Jones: It changes everything, because until now GameCom really did not have any revenue of any consequence, and because of trying to establish distribution channels which Ferris brings us. Ferris brings us a proven revenue stream -- 3.3 million last year, we should do 4-5 million this year -- and projections for significantly greater growth next year and the years to follow. The two companies’ combined resources present profitabilities in terms of economies of scale, and it certainly gives us the opportunity to put this company in the black with positive earnings per share, certainly we anticipate, during the year 2002.
Wachs: What kind of integration issues are involved and how long will it take?
Jones: We are pretty much integrated now. Once we passed the due diligence phase and knew that the merger was on, we started moving personnel back and forth, GameCom personnel to Phoenix where our operations are, some are Ferris’ personnel here in Arlington where our corporate and sales offices are, the integration is complete. We are off and running.
Wachs: What should investors now look for in the coming quarters and how long will it take for you to see some of the synergies now in terms of bottom line results in this combined entity?
Jones: I think investors could see some positive results from the synergies of the two companies as early as next week, depending on how certain negotiations go. I think investors can just watch the progress. Look and see how our sales go, look and see what type of major projects we announce, how the current projects, Red Baron Pizza and the Chevrolet Olympic Torch, how those are received, and see if we can indeed make inroads into military applications with regard to our virtual reality technology. I think the tale of our company will be told during the third and fourth quarters of this year.
Wachs: I have been speaking today with Kelly Jones. Kelly is chief executive officer of GameCom, Inc., a company that trades on the Bulletin Board under the symbol “GAMZ,” and one that through the merger with Ferris now not only provides investors with a much more diversified company, but also one that results are anticipated this calendar year. Kelly thanks for joining CEOcast today.
Jones: My pleasure, Michael. I enjoyed talking about our company.
Wachs: This has been Michael Wachs for CEOcast, where Wall Street listens.
The Stock Oracle/Stock Talk Interview
September 24, 2001
http://www.thestockoracle.com/Today%27s%20Interviews.htm
Tran: This is Stock Talk. Today on our show we are very fortunate to have Kelly Jones, CEO of GameCom/Ferris. How are you today, Kelly?
Jones: Stephen, I’m doing outstanding.
Tran: That’s great. Kelly, could you give us a little background information on GameCom/Ferris?
Jones: I’d be happy to. GameCom was founded a few years ago. We have been developing a product called ‘Net GameLink™. We just this morning announced the conclusion of our merger with Ferris Productions. Ferris is the largest virtual reality company in the world. We started having our talks in January, we began to speak in earnest in March, and are very, very pleased with this conclusion today. This changes an awful lot of things for GameCom. It brings us a very viable company. It brings us a proven revenue stream. As I have mentioned, it changes everything. We do essentially three things -- 1) we manufacture interactive entertainment systems, primarily in interactive computer gaming, 2) we operate virtual reality theme park locations at 15 different theme parks across the country, and 3) as I mentioned, Ferris is very heavily involved in virtual reality, and the exciting aspect is the commercial opportunities that we have for virtual reality. That’s GameCom/Ferris in a nutshell.
Tran: I actually understand that you were able to raise one million dollars. How were you able to do that in such a difficult market?
Jones: Well, it wasn’t easy. You have to believe in your company, and you have to talk to enough people to find that one person who can share your enthusiasm. We did talk with an awful lot of investment bankers -- received mostly the death spiral convertible proposals that do your company no good in the long run -- but we finally found the right people that could see where we were going and appreciated the enthusiasm that we have, and the commitment that we have, and we were able to come up with a very, very, very favorable investment package.
Tran: I would imagine you’ve got some fairly extensive expansion plans.
Jones: We do indeed. Of course, the completion of this merger will give us a few things logistically to chew through for the next 30 days or so. But we are working on two or three major, major projects that, well, one of them would double the revenue to date for the company, and we are also are looking forward to the opportunity to continue to acquire other companies. One of the things that we announced on Friday, in addition to the one million dollar debenture with Olympic Holdings, was that we had also retained them to find us suitable acquisition targets. And back to the fundraising, that’s really where that came from. We originally began talking with Olympic about acquiring a company that they have some involvement with, but as the conversations continued, we ultimately came around to them investing in GameCom.
Tran: There’s an awful lot of VR firms out there. What was it that first attracted you relative to Ferris as an acquisition target?
Jones: The quality of the people, the quality of their products. As I mentioned, GameCom had developed a product called ‘Net GameLink™, and it’s a very unique type of entertainment platform for interactive computer gaming. We made the decision around the first of this year that to really grow the company the way we wanted to, and to get off the Bulletin Board and onto an exchange, the best way for us to do that in an expeditious manner was to acquire the right private company in our market segment. We looked around. We actually entered into a letter of intent with another company, but the more we looked, and the more we heard, and the more we talked, Ferris VR was the company that we wanted. They have a tremendous respect within the industry, and our management team meshed with theirs just instantaneously. It has been and we expect it to continue to be a perfect fit -- a completion of two previously incomplete companies.
Tran: From a revenue point of view, Kelly, what sort of effects do you think the merger’s going to have?
Jones: From the GameCom perspective, it changes everything. We were coming out of research and development, so we had no significant revenue at the time of the merger; whereas, Ferris is an older company -- Ferris has been around for about a decade -- Ferris last year brought in revenue of about 3.3 to the bottom line. This year, we think that projection is about five million, and we think next year we could get up in the range of ten million. So, from a revenue standpoint, it changes lots of things. It makes us a very viable company.
Tran: Relative to targeting, are there any particular industries you are going after?
Jones: We want to stay in our own industry. We are looking at two different companies right now. One is a competitor of Ferris’, quite a bit smaller, but it’s one that will allow us to utilize our equipment -- I mentioned that we operate in 15 different theme parks -- one of the challenges that we have is to use that equipment on a year-round basis. So, one of the companies that we are looking at is actually a small competitor of Ferris’ that’s very good at utilizing this type of equipment year-round. The other company we are looking at is a related industry. It’s a much larger company with some very proven contracts. So, we want to stay within our industry. We want to expand our breadth within this industry, but is like the computer gaming and the virtual reality industries.
Tran: Where do you see the company going in the future?
Jones: As I mentioned, it is our ultimate goal to get off the Bulletin Board and get onto an established exchange. We have a number of very exciting tradeshows within the next couple of months. Profitability is one. We should finish the year right around break-even. Certainly, we should get into the black during 2002. Who knows? This is a very difficult and unusual economy right now. It was great to see the Dow and NASDAQ come back strongly today. Where will we be? We don’t know in these uncertain times, but what we do know is that we have very real opportunities to exploit, and we intend to do exactly that.
Tran: That’s sound great. Kelly, I certainly do appreciate your taking time out of your day to come on the show. Is there anything you’d like to say to the investors and brokers that are listening to you right now?
Jones: Continue to watch us. We have a lot of exciting things in the works, contracts that we’re currently negotiating, things such as the Chevrolet project that we’re completing, the Red Baron project. Keep an eye on us, we have initiatives into Europe and Asia, and I think you might want to keep an eye on those.
Tran: Sounds great. Listen Kelly. Thanks a lot for coming on board.
Jones: My pleasure, Stephen.
Tran: Take care, have a great day.
Jones: Thank you.
FOR IMMEDIATE RELEASE
For Investor Relations Contact:
Magnum Financial Group, LLC
Michael Manahan, principal
Los Angeles, California
213-488-0443
mike@magnumfinancial.com
GameCom/Ferris Debuts New VR Product to Science Center Conference
Phoenix, AZ- October 5, 2001: GameCom, Inc (OTCBB: GAMZ), www.GameComInc.com and www.FerrisVR.com, a leader in interactive virtual reality and interactive gaming, today announced the debut of the company’s new VR product -- the Universe® VR 720 -- a customizable, multi-seat, 360-degree, immersive virtual reality theater system, at the Association of Science and Technology Centers (“ASTC”) annual conference at the Civic Center in Phoenix, Arizona.
“Along with this weekend’s virtual reality demonstrations of our new system, the company’s president, Bob Ferris, will be making an address to the ASTC membership regarding the future of high-tech attractions for science centers, museums, and educational institutions at 3:00 pm. on Monday, October 8th,” commented Steve Haag, GameCom/Ferris’ vice-president of business development.
GameCom/Ferris’ staff will be available throughout the conference giving live demonstrations and providing the conference attendees with information regarding groundbreaking technology.
Mr. Ferris stated, “Our market research indicates that the museum and science center industry is ready for high-tech attractions, including brand new virtual reality products that deliver superior value. This marks our first post-merger market expansion. GameCom/Ferris’ technology is exceptionally well-suited to provide experiential education in a new and exciting format.”
“We will be taking people back in time 4,500 years to the world's most realistic re-creation of the construction of the Egyptian pyramids. In another experience, we will shrink people to the size of an atom, allowing them to explore the atomic world for the first time. These experiences, at an entirely new level of realism, are never-before-seen technology,” Ferris concluded.
About GameCom/Ferris
GameCom/Ferris is a fully-reporting, publicly traded Texas corporation headquartered in Arlington, Texas. With operations based in Phoenix, Arizona, GameCom/Ferris designs, manufactures, and assembles ‘Net GameLink™, an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world’s largest and fastest growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This press release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as “plans,” “expects,” “believes,” “anticipates,” or “intends.” Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
ASTC 2001 Annual Conference Sponsors
http://www.astc.org/conference/2001/sponsors.htm
ASTC 2001 Annual Conference
Advancing the Field
Sponsorship Opportunities
Through corporate sponsorship of the ASTC 2001 Annual Conference, your company can reach specific targeted audiences in the science museum market sector and improve your company's visibility in the increasingly competitive market for family interactive learning experiences in science and technology. Such visibility is especially important for companies that value educational outreach to science museums or for companies with a new or improved product or service for the field.
Now in its 23rd year, the ASTC Annual Conference is the world's most highly regarded annual meeting for the science center field, attended by nearly 2,000 people affiliated with ASTC's 550 members worldwide. An estimated 175,000,000 visits take place in ASTC institutions annually. An estimated $2 billion is spent each year by ASTC's largest members alone.
You can enhance the image, prestige, and position of your company and accelerate your market penetration through sponsorship of the ASTC Annual Conference. Sponsorship can be combined with participation in the 150+ booth conference exhibit hall in the Phoenix Civic Plaza and conference program advertising to provide an integrated marketing effort. Or your cause-related marketing activity can focus exclusively on the Conference Sponsorship Program.
This appears to be a big market for Gamecom/Ferris products.
Greg
All Check out this awesome Gamecom/Ferris interview.
http://www.thestockoracle.com/Today%27s%20Interviews.htm
Greg
All Check out this awesome Gamecom/Ferris interview.
http://www.thestockoracle.com/Today%27s%20Interviews.htm
Greg
All Check out this awesome Gamecom/Ferris interview.
http://www.thestockoracle.com/Today%27s%20Interviews.htm
Greg
Virtual Reality Pain Control.
http://www.hitl.washington.edu/research/burn/
Greg
The Healing Powers of Virtual Reality
reported by: Gerrelda Ferrand
The Healing Powers of Virtual Reality was a seminar about methods of using the virtual reality for pain control, as a way to teach children suffering from autism and other communication restricting disorders, and as a means for treating Vietnam war veterans suffering from PTSD.
Hunter Hoffman spoke on behalf of using virtual reality for pain control. Hoffman specifically focused on the pain suffered by burn patients during therapy. Hoffman explained how he stimulated a virtual reality environment that would distract the patients while they underwent therapy. The results of his experiments showed that the patients studied experienced less pain by undergoing therapy while in the virtual world. The levels of pain while in the virtual reality were compared to the levels of pain experienced while being distracted by the Nintendo. Hoffman expressed that pain was psychological and that virtual reality “takes your mind.” Hoffman did mention that patients that are highly susceptible to motion sickness were screened out and as a counter argument to that was that morphine also causes nausea. Measurements show that patients who are not sensitive to motion sickness, as the amount of treatments increased the detected values of nausea decreased. Overall results, that virtual reality distracted patients from pain while undergoing therapy.
Skip Rizzo spoke on behalf of using virtual reality to treat patients that suffered a type of brain injury. The reason of the virtual reality simulation was to teach patients a second time, how to do simple things, like make a can of soup. The simulator teaches lessons in a series of steps. One step would be recognizing the can of soup, another would be opening the can, and so on. Studies did show that what the patients learned in the virtual reality was transferable to real life. One example of a case study done by Rizzo was the effectiveness of virtual reality on children suffering from ADHD. Rizzo stimulated a classroom environment that also provided distractions, like a flying paper airplane and a car passing by the window. The purpose of the simulator was to successfully measure the reaction time to the distractions by the children, using trackers that were located on the legs and hand.
Dorothy Strickland did research on using virtual reality to teach children suffering from autism and other communication restriction disorders how to do things like cross the street. Because the children have communication disorders everything was done by demonstration. The in the virtual world, the scenes were set up to imitate the world in the child’s perspective so that the child could relate. One of the problems Strickland encountered while trying to apply her studies to the local schools was the availability of headsets. She then modified her studies by setting up a room of isolation to simulate that virtual world. Strickland also made her software more user friendly and less costly. Children were also taught how to open doors and how to escape fires. Strickland expressed how difficult it was to get results on the effectiveness of the virtual reality world on real life when it came to applying it to fire safety, for obvious reasons.
Larry Hodges presented on the idea of using virtual reality to treat Vietnam veterans who suffered from PTSD. In his experiments, Hodges simulated the surroundings of a typical war scene in a virtual world and recorded the reactions of the patients. One case studied showed a patient talking to someone that was not present in the virtual world. The studies showed that the patients were relating the virtual world back to their memories of the real world that they experienced in the Vietnam War. Because the patients were taught to be numb to their surroundings and just do what they were taught while in combat, when the veterans returned home the were responding to their families the same way. The purpose of the experiment was to help patients be more receptive to their family. While in session, Hodges would ask patients to explain what was going on so that he could later tailor their virtual world to their comments, which made it more real.
Overall, the Healing Powers of Virtual Reality was an interesting seminar and was represented by some very persuasive evidence. The seminare really showed the present and future possibilities of virtual reality and the medical world.
http://www.siggraph.org/s2000/online/sigkids/newz/healing.html
Virtual Reality 2000 Conference
New Brunswick, New Jersey
Copyright©2000 Fourth Wave Group, Inc.
Abstract
The Virtual Reality 2000 Conference, sponsored by the Institute of Electrical and Electronic Engineers, Inc. (IEEE) Computer Society Technical Committee on Visualization and Computer Graphics, was held in New Brunswick, New Jersey on March 18-22, 2000. The objective of the conference was to provide a venue for the presentation of the results of virtual reality (VR) research and development projects. Fourth Wave Group reports on the highlights of the conference. We observed that VR technology is advancing beyond realistic visual rendering (display) of the virtual environment (VE) to extracting practical haptic (tactile) and other sensory feedback from the VE. In addition, research interest in human perception and interaction with virtual environments is increasing. [1794]
IEEE
Virtual Reality 2000 Conference
New Brunswick, New Jersey
Abstract
Overview
Event Report
Observations
Opinion
Summary
Overview
The Virtual Reality 2000 Conference, sponsored by the Institute of Electrical and Electronic Engineers, Inc. (IEEE) Computer Society Technical Committee on Visualization and Computer Graphics, was held in New Brunswick, New Jersey on March 18-22, 2000. The conference was attended by more than 450 people from 25 countries.
The objective of the conference was to provide a venue for the presentation of the results of virtual reality (VR) research and development projects. The term virtual reality (VR) describes acceptable substitutes for real objects or environments.
We report on the highlights of the conference. From the content of the technical presentations, demonstrations by the exhibitors and conversations with attendees, we observed that:
VR technology is advancing beyond realistic visual rendering (display) of the virtual environment (VE) to extracting practical haptic (tactile) and other sensory feedback from the VE
research interest in human perception and interaction with virtual environments is growing
Based on our interpretations of the technical presentations and our conversations with participants, we offer additional commentary about:
real world validation of VR
utility of virtual environments
teletherapy and telemedicine with VR
virtual humans
safe VR
Event Report
The Virtual Reality 2000 Conference, sponsored by the Institute of Electrical and Electronic Engineers, Inc. (IEEE) (www.computer.org) Computer Society Technical Committee on Visualization and Computer Graphics, was held in New Brunswick, New Jersey on March 18-22, 2000. The conference was attended by more than 450 people from 25 countries. A quarter of the attendees were from outside of the United States. Participants told us that a majority of the people who work in the area of VR were at this conference. First-time attendees said that they were particularly impressed that the conference was not just an exposition of knowledge, but that participants were also very willing to share information and to learn from each other.
The term virtual reality (VR) describes acceptable substitutes for real objects or environments (Vince, 1998). The objective of the conference was to provide a venue for the presentation of the results of virtual reality research and development projects. The conference featured six tutorials, two workshops, two panel discussions, 13 poster papers, and 31 technical presentations. The exhibitors included 21 vendors and organizations. Conference attendees also visited the Center for Advanced Information Processing (CAIP) at Rutgers University (www.caip.rutgers.edu), where various VR projects were demonstrated.
The pre-conference tutorials and workshops addressed 3-D interaction, digital mock-ups, virtual environments and mental health applications, visualization fidelity, avatars and autonomous virtual humans, VR in medicine, computer-human interaction, and haptics (tactile feedback). Participants commented favorably about the tutorials and workshops.
The conference keynote address, which was entitled "Immersive Virtual Reality for Scientific Visualization: A Progress Report" was given by Andries van Dam of Brown University (avd@cs.brown.edu). Dr. van Dam spoke about the "human-computer partnership," which he said today "delivers more bandwidth to the brain." In his opinion, however, existing graphics systems and presentation contexts have not yet "matched the impedance of the eye/brain system." In order to deliver visual information as fast as the eye/brain system can absorb it requires full visual immersion of the user in an appropriately designed virtual environment. Ultimately, such immersive virtual reality (IVR) systems will need a preprocessing system, based on artificial intelligence, to filter out irrelevant content. He challenged the research community to investigate the factors that make immersive virtual reality visualizations effective and productive. He offered examples of such factors with video clips of 3-D geometric representations of popular color palettes. He also showed how a researcher might "stand" inside a virtual representation of a grafted artery and "throw virtual chaff" to test fluid flow patterns.
The Invited Speaker for the Awards Banquet was Stephen R. Ellis (silly@eos.arc.nasa.gov) of the National Aeronautical and Space Administration (NASA) Ames Research Center. His talk was entitled "The Elements of Human Factors: Illustrations from the Collision at the MIR Space Station." Dr. Ellis' presentation included several video clips from the 1997 collision event itself. Although sophisticated "virtual reality" technology was available to those conducting the ill-fated maneuver, he emphasized several human (non-technical) factors that significantly contributed to the collision event. For example, the docking maneuver was ostensibly a test to see if the supply module could be docked without depending on technology that was available only from a politically unfriendly nation. In addition, the pilot had a strong financial incentive to try the extremely risky exercise, because his pay was scaled to the difficulty of the task. Dr. Ellis encouraged the conference participants to look beyond technology to the implications of the very real human contexts within which technology might be used.
The panel discussions addressed two aspects of the future of virtual reality. The first panel focused on the shared virtual environment (VE). Panelists said that large-scale shared virtual environments are routinely used in military training, in some manufacturing design projects, and in the computer gaming industry. As bandwidth capability increases, VEs are being shared across the Internet. The training venue, particularly for "high cost" employees, was said to be one of the most important future applications for shared VEs. The most significant challenges are not technical, the panelists said. Rather, the challenges are associated with representing subtle human-human communication, such as body language.
The second panel discussed trends in haptic interfaces. A haptic device, such as a force-feedback stylus (Figure 1) or a treadmill, delivers tactile and other sensory feedback to the body from the virtual environment. Through such devices, a user can touch, grasp, squeeze, poke, throw or walk on virtual objects. A user feels the same kind of tactile sensations that he or she would feel with real objects. The panelists said that effective application of haptics hardware is currently limited by the capabilities of the interface software. They also said that artists who create in three dimensions, such as sculptors and movie animators, are particularly interested in functional interfaces to the virtual 3-D environment. One panelist spoke of an emerging "3-D publishing" technology that generates physical renditions of objects that are created in a virtual world.
Several of the exhibitors featured haptic devices with a variety of associated interface technologies. The force-feedback stylus (Figure 1) was the most common device on the exhibit floor. Vendors demonstrated how the stylus could be used to probe virtual representations of internal organs, such as the liver, or carve virtual clay. Other haptic devices available for participants to test included the feedback glove, a force-feedback computer mouse, and a few specialized instruments related to the medical industry.
Figure 1. Stylus-type haptic device.
Photo courtesy of SensAble Technologies (www.sensable.com)
We also observed that head-mounted display devices that were available on the exhibit floor were much more compact than those marketed a year ago (Figure 2). Connecticut College (www.conncoll.edu) demonstrated a virtual interface system that controls the musical playback of a MIDI sequencer by tracking and adapting to a human conductor's real-time hand movements.
Figure 2. Head-mounted visualization display device.
Photo courtesy of InterSense, Inc. (www.isense.com)
Device by Sony Corporation (www.sony.com). Interface software by InterSense, Inc.
We do not summarize the technical presentations. Please see the proceedings for this conference, which are available along with a tape of some of the presentation videos from the Institute of Electrical and Electronic Engineers, Inc. (IEEE) (cs.books@computer.org). For other information about the conference, and for links to related content, please visit the conference's Web page, www.caip.rutgers.edu/vr2000.
The VR 2001 Conference will be held in Yokohama/Tokyo, Japan on March 13-1, 2001 (www.vr2001.org or tachi@star.t.u-tokyo.ac.jp).
Observations
From the content of the technical presentations, demonstrations by the exhibitors and conversations with attendees, we observed that:
VR technology is advancing beyond realistic visual rendering (display) of the virtual environment (VE) to extracting practical haptic (tactile) and other sensory feedback from the VE
research interest in human perception and interaction with virtual environments is growing
Rendering of and Feedback from
The primary objective of virtual reality research is perceived by many to be realistic visual rendering (display) of a three-dimensional environment. It was very apparent from the presentations and exhibits at this conference that, for most practical purposes, virtual environments can be visually rendered with a sufficient level of reality. A manufacturing prototype, such as an automobile, can be viewed in a variety of colors and trim combinations, under different lighting conditions. A proposed building can be examined from overhead at a distance, or at street level from any direction. Even human emotions can be realistically expressed with synthesized faces. Furthermore, the computing power necessary to deliver fast and acceptable visual rendering is now available from relatively inexpensive desktop machines, including some customized PC-grade computers.
However, VR researchers and users are no longer satisfied with passively viewing a realistically rendered virtual environment. Even the ability to move the head and look in various directions is no longer sufficient. People expect to reach into the VE to touch objects and paint them, to test the firmness of a ball and then throw it, to see and feel clay deform as they squeeze and poke it. Designers need to walk around a prototype automobile, get into it, sit down, and drive it away. If architects climb a virtual stairway, they expect the next step to be where it is in reality. They want to feel their legs push against realistic climbing resistance. If virtual hikers walk along a grassy or rocky path, the "ground" beneath their shoes should yield or resist appropriately.
Haptic systems with all of the above capabilities were described or demonstrated at the workshops, technical presentations and exhibits. A significant portion of VR research is now directed at enabling practical non-visual feedback from virtual environments. Particularly challenging are shared VEs, within which several users, who may not all be at the same physical location, manipulate the same set of virtual objects, with haptic feedback, in real time. Some haptic research is funded by the military, which uses shared virtual environments of villages and building interiors for troop training.
The diversity of haptics research that was reported at this conference was impressive. It ranged from a study of perceived "drag" on a computer mouse due only to visual cues, to a simulation of a roller coaster ride. We were told that haptics research, much of which is performed in Japan, will be an important component of the VR 2001 Conference in Yokohama/Tokyo.
Perception and Interaction Research
The technology face of VR is its obvious one. Less obvious are the challenging investigations into human perception of the virtual environment and the effectiveness of human interaction with virtual objects. A section of this conference was dedicated to reports of research into VR perception. Conference participants told us that the user's perception of the virtual environment is as important as the level of realism that technology can deliver. In fact, more realism is not always better. The level of realism, they said, should be adjusted to the purpose of the VE. We were told that in the case of military training, for instance, the virtual buildings and surroundings should be somewhat abstract. When the soldier later encounters a real world situation, he or she will not have to unlearn specific realistic visual cues that were relevant only during the training. The addition of haptic feedback to a VE inevitably complicates the perception process. Conflicting motion cues may induce nausea, or "cybersickness." Researchers also reported that body cues, such as leg movement and acceleration forces on the inner ear, improve the accuracy of the perceived distance that a user travels in a virtual environment.
Participants said that they believe that the mind easily compensates for an insufficiently real virtual environment. In many cases, people simply don't care about realism, or that an abstraction may be preferable, as in the training example above. However, they emphasized that research into human perception of virtual environments will have particularly important implications for applications that involve of analysis, interpretation and learning. They specifically mentioned VR applications in the areas of mental and emotional health, education and training, and the embryonic art of interactive virtual storytelling.
We were told that perception research would also be an important topic at the VR 2001 Conference in Yokohama/Tokyo.
Opinion
Based on our interpretations of the technical presentations and our conversations with participants, we offer additional commentary about:
real world validation of VR
utility of virtual environments
teletherapy and telemedicine with VR
virtual humans
safe VR
Real World Validation
We were emphatically told several times that the key to expeditious application of emerging VR technology is the researcher's access to experienced domain experts. Participants cited the success of VR technology in certain manufacturing areas, such as aircraft and automobile design, as evidence. In some cases, we were told, VR technology has stayed "on the verge" of successful application for years simply because expert engineers and medical practitioners are unable or unwilling to devote time to advising VR projects and validating their results. In the minds of some of the participants, this is one of the most important issues facing the VR community today.
Utility of Virtual Environments
Virtual environments already serve very useful purposes. VE's are expected to be more widely applied in the near future. In this section, we examine some possibilities for VR/VE applications that were suggested by participants during our conversations with them.
Government agencies, particularly the military, have been a reliable and stable source of funding for VR research. Training, particularly in hazardous situations, has been the primary practical application of VR technology. Special military forces train for specific missions using virtual mock-ups of the target environment. Training for disaster response and for hazardous maintenance situations, such as repair of the International Space Station, are examples of non-military government applications of VR technology. We believe that VR/VE technology can be applied to many training situations outside of government.
Virtual reality and virtual environments have been used for many years to design products and buildings. The compilation of videos from this conference shows some of the current capabilities of VR-based design systems. Virtual prototype vehicles can be collision-tested in simulations. Designers from remote locations can "sit" together in the same virtual vehicle and "drive" or "ride" in it. Complex buildings and facilities can be completely designed and virtually "walked-through" before they are approved for physical construction. We believe that VR/VE technology can also be effectively used for viewing and analyzing large, complex and dynamic data sets through appropriate virtual contexts and metaphors. At this conference, for example, a Muse Technology (www.musetech.com) demonstration showed all aircraft in flight over North America at a variety of time and distance scales.
Augmented reality, which is sometimes called "mixed reality," inserts a virtual object into the real world. The user's view of the real world is actually a virtual rendition that is seen through a head-mounted display device (like that shown in Figure 2). When the user looks at the place where the virtual object is supposed to be, the virtual object appears. It replaces the real object and obscures the line of sight as if it were real. If the virtual object is a rendition of what is behind a real object, such as a door, a "see-through" effect is experienced. Such virtual views can be useful for showing spaces that are difficult or hazardous to access. Augmented reality can also be used to view virtual arrangements of objects in an existing space, such as virtual furniture in an empty room.
Virtual reality and virtual environments have been only minimally applied in public education and the arts. Some museums, particularly science museums, offer VR-related exhibits. In many cases, museums feature the VR technology itself, rather than enhance the museum experience with VR technology. Virtual clay often substitutes for real clay in the animation industry. However, we were told that only a few sculptors have been exposed to the possibilities of virtual materials. The use of VR/VE is uncommon in university courses, we are told, but rare to nonexistent at lower levels of education. The videotape associated with this conference offers an example of a middle-school application of VR/VE. We believe that VR/VE will follow the Internet as the next enabling technology that is pursued by educational systems.
A few participants talked to us about the concept of "virtual heritage." Virtual heritage is a form of augmented/mixed reality that is applied to historic sites. When viewed through a head-mounted display, for example, the ruin of an ancient temple might be seen fully (but virtually) restored. Virtual humans of the ancient period may be seen walking around inside the temple. With appropriate technology, visitors could "converse" with them. Moreover, visitors might remotely view virtual heritage over the Internet, which would improve the accessibility of historic sites that are difficult to visit or are sensitive to "tourist damage."
Teletherapy and Telemedicine
Medical application of VR/VE technology was an important topic at this conference. VR visualization helps medical professionals quickly and accurately interpret body scans. Specialists can perform diagnoses remotely and consult with others who are viewing the same VR images. Teletherapy employs haptic devices that enable the therapist to remotely feel and move parts of the patient's body that are attached to the devices. We believe that VR/VE applications in telemedicine and teletherapy will make the professional services that are concentrated in large cities routinely available to people who live in less populated areas. VR-based teletherapy, in particular, will reduce the travel cost and inconvenience that is associated with long-term rehabilitation.
Virtual Humans
Virtual humans are of two types: agents and avatars. An avatar represents a human and acts as directed on his or her behalf in the virtual environment. An agent is a system component of the virtual environment, such as the players of a virtual soccer game that are not avatars. There was much conversation about how realistic virtual humans need to be. Most participants agreed that virtual humans, like the virtual environments within which they were embedded, need to only be "real enough" for the situation. In the proceedings video, for example, a relatively featureless avatar "sat" in the passenger seat of the virtual automobile and represented a design engineer from the other side of the world. The local, real engineer, who was "driving" the virtual vehicle, could converse with the avatar as if it were the remote engineer. Through the avatar, the remote engineer could speak and point to parts of the vehicle to emphasize the conversation. Although avatars and virtual humans routinely populate computer games and Internet-based virtual environments, we believe that they can be useful in many business and educational situations. We were told that the psychology of human-avatar/agent interaction is essentially unknown.
Safe VR
The safety of virtual reality and virtual environments is normally not an issue. However, haptic devices, such as styli, gloves, multi-direction treadmills, full-body suits and cradle seats (like for a virtual roller coaster) can exert significant physical forces on the body. Appropriate safety tests and standards will need to be established before such devices are widely deployed into workplaces, hospitals, homes and schools. We believe that research into human perception of virtual environments will reveal hazards beyond cybersickness that may be associated with routine operation of virtual environments. Although VR/VE technology is perceived as very safe, human experience with it is in fact quite limited.
Summary
The objective of the Virtual Reality 2000 Conference was to provide a venue for the presentation of the results of virtual reality research and development projects. The subject of the conference keynote address was the "human-computer partnership," and the subject of the Invited Speaker address was the interplay between technology and human factors. The panel discussions addressed two aspects of the future of virtual reality: shared virtual environments and trends in haptic interfaces. Several of the exhibitors featured haptic devices with a variety of associated interface technologies.
It was very apparent from the presentations and exhibits at this conference that, for most practical purposes, virtual environments can be visually rendered with a sufficient level of reality. A significant portion of VR research is now directed at enabling practical non-visual feedback from virtual environments.
VR researchers are investigating human perception of the virtual environment and the effectiveness of human interaction with virtual objects. Such research will have particularly important implications for applications that involve of analysis, interpretation and learning.
The key to expeditious application of emerging VR technology is the researcher's access to experienced domain experts. In the minds of some of the participants, this is one of the most important issues facing the VR community today.
We believe that VR/VE technology can:
be applied to many training situations outside of government-sponsored projects
be effectively used for viewing and analyzing large, complex and dynamic data sets in appropriate virtual contexts
be applied as augmented/mixed reality to examine spaces that are difficult or hazardous to access
follow the Internet as the next enabling technology that is pursued by educational systems
make history and cultural heritages "come to life" through virtual heritage
make the professional services that are concentrated in large cities routinely available to people who live in less populated areas
There was much conversation about how realistic virtual humans need to be. Most participants agreed that virtual humans, like the virtual environments within which they were embedded, need to only be "real enough" for the situation. Although avatars and virtual humans routinely populate computer games and Internet-based virtual environments, we believe that they can be useful in many business and educational situations.
The safety of virtual reality and virtual environments is normally not an issue. However, haptic devices can exert significant physical forces on the body. We believe that research into human perception of virtual environments will reveal hazards beyond cybersickness that may be associated with routine operation of virtual environments
http://www.fourthwavegroup.com/Publicx/1794.htm
Highlights of CEOCAST interview Kelly gave.
Overview of company:
We are the world’s largest and faster growing producer of hardware and software for virtual reality industry and first to market Interactive computer gaming kiosk and kiosk control software.
We needed to bring in an operating partner with good distribution channels and Ferris needed a public vehicle for capital reasons. I think very highly of Bob Ferris and we had a seamless integration.
How do you prioritize?
We manufacture, operate VR systems and do commercial applications on virtual reality. We work on all three fronts. We have very exciting operations, proposals and contracts in the works.
We are looking at two companies a small competitor of Ferris to create special uses for the VR and gaming machines. The other company will give us horizontal integration and broaden our business. Olympic has invested in our company.
How will you use Olympic's funding?
There are many mouths to feed. We hope to conclude some contracts in the next few days. Expenses of the proxy statements and growth capital to generate revenue are some uses of the Olympic funds.
One of the things we have done is create a platform for any use of our technology.
Possible Major contract in Europe for another use other then gaming in the next few days.
How do you compare to EA and other software companies?
Apples and Oranges. We use our own operating software (easy play software) and we will license software from gaming companies because they create the best software.
Will the market impact you revenue stream?
I don’t think the market will impact us. There are opportunities we have and phone calls we have receive as soon as a few hours ago that give us opportunities that are very lucrative. Police, deadly force and military is a big market for us and we have negotiations in this area and we don’t expect a down turn in promotional and interactive gaming. We don’t see anything impacting our revenue growth.
Ferris has a proven revenue stream 4 to 5 million this year. Year 2002 positive earnings per share. We are fully integrated now.
I think investors could see positive results as soon as next week. See how our current projects are received. See if we can make inroads in Military applications with regard to our virtual reality technology. The third and forth quarters of this year will tell the tale of this company.
GameCom/Ferris CEO Interviewed on CEOcast.com
ARLINGTON, Texas--(BUSINESS WIRE)--Sept. 26, 2001--GameCom Inc. (OTCBB:GAMZ - news; www.GameComInc.com and www.FerrisVR.com), a leader in interactive virtual reality technology, today announced that its chief executive officer, L. Kelly Jones, has been interviewed by CEOcast.com.
CEOcast.com (www.CEOcast.com) is a leading online source of original and syndicated streamlining broadcast interviews of chief executive officers at public and private news-making companies. CEOcast's programming is distributed to millions of online investors at more than 700 financial Web sites.
The interview may be accessed by free registration at http://www.ceocast.com/company.cfm?cid=589. The interview will be archived, and will be accessible for five business days on CEOcast's Web site.
When asked about this speaking occasion, Jones stated: ``The interview with CEOcast.com provides in-depth information about recent developments at GameCom/Ferris. The interview presents an opportunity for the investment community to familiarize itself with GameCom/Ferris, the recently concluded merger, the integration of the two companies, and our prospects for immediate benefits from the newly combined company.''
About GameCom/Ferris
GameCom/Ferris is a fully reporting, publicly traded Texas corporation with headquarters in Arlington. With operations based in Phoenix, GameCom/Ferris designs, manufactures and assembles `Net GameLink(TM), an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world's largest and fastest-growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This news release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as ``plans,'' ``expects,'' ``believes,'' ``anticipates'' or ``intends.'' Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Magnum Financial Group LLC, Los Angeles
Kari Rundquist, 213/488-0443 (Investor Relations)
kari@magnumfinancial.com
GameCom/Ferris CEO Interviewed on CEOcast.com
ARLINGTON, Texas--(BUSINESS WIRE)--Sept. 26, 2001--GameCom Inc. (OTCBB:GAMZ - news; www.GameComInc.com and www.FerrisVR.com), a leader in interactive virtual reality technology, today announced that its chief executive officer, L. Kelly Jones, has been interviewed by CEOcast.com.
CEOcast.com (www.CEOcast.com) is a leading online source of original and syndicated streamlining broadcast interviews of chief executive officers at public and private news-making companies. CEOcast's programming is distributed to millions of online investors at more than 700 financial Web sites.
The interview may be accessed by free registration at http://www.ceocast.com/company.cfm?cid=589. The interview will be archived, and will be accessible for five business days on CEOcast's Web site.
When asked about this speaking occasion, Jones stated: ``The interview with CEOcast.com provides in-depth information about recent developments at GameCom/Ferris. The interview presents an opportunity for the investment community to familiarize itself with GameCom/Ferris, the recently concluded merger, the integration of the two companies, and our prospects for immediate benefits from the newly combined company.''
About GameCom/Ferris
GameCom/Ferris is a fully reporting, publicly traded Texas corporation with headquarters in Arlington. With operations based in Phoenix, GameCom/Ferris designs, manufactures and assembles `Net GameLink(TM), an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world's largest and fastest-growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This news release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as ``plans,'' ``expects,'' ``believes,'' ``anticipates'' or ``intends.'' Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Magnum Financial Group LLC, Los Angeles
Kari Rundquist, 213/488-0443 (Investor Relations)
kari@magnumfinancial.com
Links to the upcoming Trade Shows Gamecom/Ferris will be attending.
From Kelly's shareholder E-mail.
We have a busy agenda of tradeshows and expositions. First on the schedule is the Association of Science and Technology Centers show to be held in Tucson on October 6th and 7th. Bob Ferris has been working hard on expanding our opportunities for deployment of virtual reality in museums and science centers, and we are anxiously looking forward to this visibility. I will be in New York City on October 17th spreading the word about GameCom/Ferris at the Emerging Company Reports booth at the New York Discovery Expo, and will be taping an appearance at the American Stock Exchange that same day. Later, we will be at the International Association of Amusement Parks and Attractions show in Orlando from November 14th through November 17th. As you know, this is the leading trade show for the amusement park business.
http://www.astc.org/conference/2001/2001.htm
http://www.iaapa.org/annualtradeshow/index.htm
http://www.w3otc.com/ee/expo/index.html
http://www.w3otc.com/ee/expo/attend.html
Greg
GameCom gets $1 million investment
GameCom Inc. (OTCBB: GAMZ), a maker of interactive online games, has raised $1 million.
The investment from Bethesda, Md.-based Olympic Holdings LLC is in the form of convertible debentures, or debt that Olympic has the right to turn into common shares at a future date.
Arlington-based GameCom says the investment pact does not contain any provisions for a discount to market price. The company's stock price ended at 28 cents Monday, a penny higher than Friday's close.
The cash will come in three chunks, the first arriving this week and the last occurring by Nov. 15.
In addition, after GameCom completes a pending acquisition of Ferris Productions Inc., Olympic will help GameCom find more candidates for similar transactions. GameCom shareholders recently approved the purchase of Phoenix, Ariz.-based Ferris, which makes virtual-reality entertainment products.
GameCom's signature offering, Net GameLink, is a series of gaming kiosks that allow a large number of geographically dispersed people to play games against each other. Company Web site: http://www.gamecominc.com.
http://dallas.bcentral.com/dallas/stories/2001/09/24/daily1.html
Merger nears completion
The shareholders of interactive Internet gaming firm GameCom Inc. approved the pending merger with Phoenix-based Ferris Productions, Inc. at a special meeting held Sept. 21, officials of the Texas-based firm announced today.
Now that both companies have received shareholder approval, the merger will be formally completed later this week upon the filing of required merger documents in Texas and Delaware.
Ferris designed, manufactured, and in some instances, operated, virtual reality entertainment products for use in entertainment facilities and at special events.
Company officials say the merged entity, GameCom/Ferris, will be a fully reporting, publicly traded Texas corporation based in Arlington. With operations based in Phoenix, GameCom/Ferris will design, manufacture, and assemble `Net GameLink, an interactive Internet gaming concept featuring network-enabled gaming kiosks, as well as a producer of integrated hardware and software technology to the virtual reality industry.
http://phoenix.bcentral.com/phoenix/stories/2001/09/24/daily10.html
GAMECOM SECURES FUNDING, FINALIZES FERRIS MERGER
(posted Monday, September 24, 2001 -- 2:30PM)
Arlington, Texas-based GameCom Inc. announced that it has successfully placed $1,000,000 in convertible debentures with Olympic Holdings L.L.C. In addition, the company has retained Olympic to seek appropriate acquisition targets for continued expansion. Olympic, based in Bethesda, Maryland, is a financial, corporate advisory, and investment firm specializing in the active turnaround of companies in the biotechnical, biomedical, and medical support industries. "We are delighted with this financing package from Olympic," said L. Kelly Jones, GameCom's CEO. "Once the Ferris merger is completed, Olympic will assist us in our continuing efforts to expand our reach in the interactive computer gaming and virtual reality fields." "We are very excited about GameCom/Ferris' future, as evidenced by our capital infusion," said William E. K. "Kyle" Hathaway, II, manager of Olympic. "The company has an exciting story to tell, with excellent management. We look forward to being long-term participants in the future of GameCom/Ferris." The terms of the financing require Olympic to fund GameCom $1,000,000 in three phases, the first of which will commence next week with the third phase funded by November 15, 2001. In addition, the convertible debentures may be converted into common shares of GameCom based upon the company's market price at the time of funding for each phase. The conversion feature does not contain any provision for a discount to market price. GameCom, Inc. also announced that its shareholders approved the pending merger with Ferris Productions, Inc. at the company's special meeting held on September 21. Now that both companies have received shareholder approval, the merger will be formally completed later this week upon the required merger documents
being filed in Texas and Delaware.
http://www.replaymag.com/instant.htm
GameCom, Ferris merger approved
http://www.kioskmarketplace.com/news_story.htm?i=10744
• 24 September 2001
ARLINGTON, Texas - Finally given the chance after a week’s delay, shareholders in interactive gaming kiosk designer GameCom Inc. (OTCBB:GAMZ) approved the company’s planned merger with virtual reality entertainment company Ferris Productions Inc. on Sept. 21.
The merger is expected to formally take place during the final week of September with the filing of papers in Texas and Delaware. The merger company, GameCom/Ferris, will be headquartered in Arlington, Texas, with operations based in Phoenix.
The shareholder’s meeting had been scheduled for Sept. 14. But the terrorist attack in New York City and Washington D.C. on Sept. 11 forced the meeting to be delayed a week.
GameCom/Ferris officials said the merged company would move quickly to consolidate its position in the video gaming, entertainment, and advertising and promotion markets.
"The merger of GameCom and Ferris is a powerful combination with endless opportunities to pursue," L. Kelly Jones, GameCom/Ferris chief executive officer, said in a news release. "Unlike most companies, our primary challenge is prioritizing these opportunities, rather than seeking new ones."
GameCom and Ferris signed a letter of intent to merge on April 18, one day after Ferris said it terminated a letter of intent with Entertainment Technologies & Programs Inc. (ETPI). ETPI filed suit to block the GameCom/Ferris merger. In mid-September, Ferris and GameCom planned to file a motion asking that the suit be dismissed.
In early morning trading on Sept. 24, GameCom was unchanged at 27 cents per share.
Gamecom/Ferris CEO shareholder e-mail sent out today.
Friends and Shareholders:
I am pleased to forward you this morning’s press release announcing that GameCom’s merger with Ferris Productions, Inc. received strong shareholder approval at our shareholders’ meeting held late Friday afternoon. Ferris’ shareholders had previously approved the merger.
For all practical purposes, the merger with Ferris is complete; however, the merger will not be finally and legally concluded until later this week when the appropriate merger documentation is filed with the Secretaries of State in Delaware and Texas.
Although the corporate name, for at least the time being, will remain “GameCom, Inc.,” we will begin referring to the company as “GameCom/Ferris.” Please recall that one of the proposals which received shareholder approval on Friday was authorizing the board of directors to change the corporate name. Over the course of the next year, we intend to engage the services of marketing and focus group professionals to determine if an entirely new name is more appropriate to the company’s future.
The new slate of officers for GameCom/Ferris is as follows: L. Kelly Jones, chief executive officer; Bob Ferris, president; Lance Loesberg, executive vice-president; Rob White, vice-president of operations; Steve Haag, vice-president of business development; and Al Spivey, vice-president of production.
The new slate of directors, which, as described in the proxy statement, has been increased to five members, is as follows: John F. Aleckner, Jr.; Bob Ferris; L. Kelly Jones; Lance Loesberg; and Andy Wells.
I assure you, although I have lately been preoccupied with the merger and consummation of our business arrangement with Olympic Holdings, that the other officers have not been so distracted and have been hard at work advancing the interests of GameCom/Ferris. I believe you can expect a robust fall in terms of positive corporate advances.
We have a busy agenda of tradeshows and expositions. First on the schedule is the Association of Science and Technology Centers show to be held in Tucson on October 6th and 7th. Bob Ferris has been working hard on expanding our opportunities for deployment of virtual reality in museums and science centers, and we are anxiously looking forward to this visibility. I will be in New York City on October 17th spreading the word about GameCom/Ferris at the Emerging Company Reports booth at the New York Discovery Expo, and will be taping an appearance at the American Stock Exchange that same day. Later, we will be at the International Association of Amusement Parks and Attractions show in Orlando from November 14th through November 17th. As you know, this is the leading trade show for the amusement park business.
With the merger behind us, our full focus returns to building this newly-combined company and taking advantage of the very real opportunities which are afforded to us.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom CEO
Gamecom/Ferris CEO shareholder e-mail sent out today.
Friends and Shareholders:
I am pleased to forward you this morning’s press release announcing that GameCom’s merger with Ferris Productions, Inc. received strong shareholder approval at our shareholders’ meeting held late Friday afternoon. Ferris’ shareholders had previously approved the merger.
For all practical purposes, the merger with Ferris is complete; however, the merger will not be finally and legally concluded until later this week when the appropriate merger documentation is filed with the Secretaries of State in Delaware and Texas.
Although the corporate name, for at least the time being, will remain “GameCom, Inc.,” we will begin referring to the company as “GameCom/Ferris.” Please recall that one of the proposals which received shareholder approval on Friday was authorizing the board of directors to change the corporate name. Over the course of the next year, we intend to engage the services of marketing and focus group professionals to determine if an entirely new name is more appropriate to the company’s future.
The new slate of officers for GameCom/Ferris is as follows: L. Kelly Jones, chief executive officer; Bob Ferris, president; Lance Loesberg, executive vice-president; Rob White, vice-president of operations; Steve Haag, vice-president of business development; and Al Spivey, vice-president of production.
The new slate of directors, which, as described in the proxy statement, has been increased to five members, is as follows: John F. Aleckner, Jr.; Bob Ferris; L. Kelly Jones; Lance Loesberg; and Andy Wells.
I assure you, although I have lately been preoccupied with the merger and consummation of our business arrangement with Olympic Holdings, that the other officers have not been so distracted and have been hard at work advancing the interests of GameCom/Ferris. I believe you can expect a robust fall in terms of positive corporate advances.
We have a busy agenda of tradeshows and expositions. First on the schedule is the Association of Science and Technology Centers show to be held in Tucson on October 6th and 7th. Bob Ferris has been working hard on expanding our opportunities for deployment of virtual reality in museums and science centers, and we are anxiously looking forward to this visibility. I will be in New York City on October 17th spreading the word about GameCom/Ferris at the Emerging Company Reports booth at the New York Discovery Expo, and will be taping an appearance at the American Stock Exchange that same day. Later, we will be at the International Association of Amusement Parks and Attractions show in Orlando from November 14th through November 17th. As you know, this is the leading trade show for the amusement park business.
With the merger behind us, our full focus returns to building this newly-combined company and taking advantage of the very real opportunities which are afforded to us.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom CEO
E-mail from Kelly concerning the merger.
Friends and Shareholders:
I am pleased to forward you this morning’s press release announcing that GameCom’s merger with Ferris Productions, Inc. received strong shareholder approval at our shareholders’ meeting held late Friday afternoon. Ferris’ shareholders had previously approved the merger.
For all practical purposes, the merger with Ferris is complete; however, the merger will not be finally and legally concluded until later this week when the appropriate merger documentation is filed with the Secretaries of State in Delaware and Texas.
Although the corporate name, for at least the time being, will remain “GameCom, Inc.,” we will begin referring to the company as “GameCom/Ferris.” Please recall that one of the proposals which received shareholder approval on Friday was authorizing the board of directors to change the corporate name. Over the course of the next year, we intend to engage the services of marketing and focus group professionals to determine if an entirely new name is more appropriate to the company’s future.
The new slate of officers for GameCom/Ferris is as follows: L. Kelly Jones, chief executive officer; Bob Ferris, president; Lance Loesberg, executive vice-president; Rob White, vice-president of operations; Steve Haag, vice-president of business development; and Al Spivey, vice-president of production.
The new slate of directors, which, as described in the proxy statement, has been increased to five members, is as follows: John F. Aleckner, Jr.; Bob Ferris; L. Kelly Jones; Lance Loesberg; and Andy Wells.
I assure you, although I have lately been preoccupied with the merger and consummation of our business arrangement with Olympic Holdings, that the other officers have not been so distracted and have been hard at work advancing the interests of GameCom/Ferris. I believe you can expect a robust fall in terms of positive corporate advances.
We have a busy agenda of tradeshows and expositions. First on the schedule is the Association of Science and Technology Centers show to be held in Tucson on October 6th and 7th. Bob Ferris has been working hard on expanding our opportunities for deployment of virtual reality in museums and science centers, and we are anxiously looking forward to this visibility. I will be in New York City on October 17th spreading the word about GameCom/Ferris at the Emerging Company Reports booth at the New York Discovery Expo, and will be taping an appearance at the American Stock Exchange that same day. Later, we will be at the International Association of Amusement Parks and Attractions show in Orlando from November 14th through November 17th. As you know, this is the leading trade show for the amusement park business.
With the merger behind us, our full focus returns to building this newly-combined company and taking advantage of the very real opportunities which are afforded to us.
These are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom/Ferris. I respectfully refer you to GameCom/Ferris' filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom CEO
GameCom/Ferris Merger Receives Shareholder Approval
ARLINGTON, Texas--(BUSINESS WIRE)--Sept. 24, 2001--GameCom, Inc. (OTCBB:GAMZ - news), www.GameComInc.com, a leader in interactive Internet gaming, today announced that GameCom's shareholders approved the pending merger with Ferris Productions, Inc. at the Company's special meeting held on Sept. 21.
Now that both companies have received shareholder approval, the merger will be formally completed later this week upon the required merger documents being filed in Texas and Delaware.
Ferris (www.FerrisVR.com) designed, manufactured, and in some instances, operated, virtual reality entertainment products for use in entertainment facilities and at special events, including carnivals, festivals, and trade shows. Customers include Six Flags, Busch Gardens, Paramount, Circus Circus, Carnival Cruise Lines, Chevrolet, Pepsi, Buick, and Red Baron Pizza. Virtual reality is the next generation of the $2 billion video game business, and is also finding strong demand in the $90 billion product advertising/promotional market.
L. Kelly Jones, GameCom/Ferris' chief executive officer, commented, ``The merger of GameCom and Ferris is a powerful combination with endless opportunities to pursue. Unlike most companies, our primary challenge is prioritizing these opportunities, rather than seeking new ones. Initially, we believe the video game, entertainment, and advertising/promotional markets will allow our newly-combined company to realize the fastest and most profitable revenue growth, which will provide value to our shareholders.''
Bob Ferris, now president of GameCom/Ferris, stated, ``We are now the leader in virtual reality, both technologically and financially. The combined management depth and resources will allow accelerated commercial development of our virtual reality technology. In addition, GameCom's technology expands our capability in the public-use video game market.''
About GameCom/Ferris
GameCom/Ferris is a fully-reporting, publicly traded Texas corporation headquartered in Arlington, Texas. With operations based in Phoenix, Ariz., GameCom/Ferris designs, manufactures, and assembles `Net GameLink(TM), an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world's largest and fastest growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This press release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as ``plans,'' ``expects,'' ``believes,'' ``anticipates,'' or ``intends.'' Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Magnum Financial Group, LLC
Ms. Kari Rundquist, 213/488-0443
kari@magnumfinancial.com
GameCom/Ferris Merger Receives Shareholder Approval
ARLINGTON, Texas--(BUSINESS WIRE)--Sept. 24, 2001--GameCom, Inc. (OTCBB:GAMZ - news), www.GameComInc.com, a leader in interactive Internet gaming, today announced that GameCom's shareholders approved the pending merger with Ferris Productions, Inc. at the Company's special meeting held on Sept. 21.
Now that both companies have received shareholder approval, the merger will be formally completed later this week upon the required merger documents being filed in Texas and Delaware.
Ferris (www.FerrisVR.com) designed, manufactured, and in some instances, operated, virtual reality entertainment products for use in entertainment facilities and at special events, including carnivals, festivals, and trade shows. Customers include Six Flags, Busch Gardens, Paramount, Circus Circus, Carnival Cruise Lines, Chevrolet, Pepsi, Buick, and Red Baron Pizza. Virtual reality is the next generation of the $2 billion video game business, and is also finding strong demand in the $90 billion product advertising/promotional market.
L. Kelly Jones, GameCom/Ferris' chief executive officer, commented, ``The merger of GameCom and Ferris is a powerful combination with endless opportunities to pursue. Unlike most companies, our primary challenge is prioritizing these opportunities, rather than seeking new ones. Initially, we believe the video game, entertainment, and advertising/promotional markets will allow our newly-combined company to realize the fastest and most profitable revenue growth, which will provide value to our shareholders.''
Bob Ferris, now president of GameCom/Ferris, stated, ``We are now the leader in virtual reality, both technologically and financially. The combined management depth and resources will allow accelerated commercial development of our virtual reality technology. In addition, GameCom's technology expands our capability in the public-use video game market.''
About GameCom/Ferris
GameCom/Ferris is a fully-reporting, publicly traded Texas corporation headquartered in Arlington, Texas. With operations based in Phoenix, Ariz., GameCom/Ferris designs, manufactures, and assembles `Net GameLink(TM), an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world's largest and fastest growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This press release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as ``plans,'' ``expects,'' ``believes,'' ``anticipates,'' or ``intends.'' Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Magnum Financial Group, LLC
Ms. Kari Rundquist, 213/488-0443
kari@magnumfinancial.com
GameCom/Ferris Merger Receives Shareholder Approval
ARLINGTON, Texas--(BUSINESS WIRE)--Sept. 24, 2001--GameCom, Inc. (OTCBB:GAMZ - news), www.GameComInc.com, a leader in interactive Internet gaming, today announced that GameCom's shareholders approved the pending merger with Ferris Productions, Inc. at the Company's special meeting held on Sept. 21.
Now that both companies have received shareholder approval, the merger will be formally completed later this week upon the required merger documents being filed in Texas and Delaware.
Ferris (www.FerrisVR.com) designed, manufactured, and in some instances, operated, virtual reality entertainment products for use in entertainment facilities and at special events, including carnivals, festivals, and trade shows. Customers include Six Flags, Busch Gardens, Paramount, Circus Circus, Carnival Cruise Lines, Chevrolet, Pepsi, Buick, and Red Baron Pizza. Virtual reality is the next generation of the $2 billion video game business, and is also finding strong demand in the $90 billion product advertising/promotional market.
L. Kelly Jones, GameCom/Ferris' chief executive officer, commented, ``The merger of GameCom and Ferris is a powerful combination with endless opportunities to pursue. Unlike most companies, our primary challenge is prioritizing these opportunities, rather than seeking new ones. Initially, we believe the video game, entertainment, and advertising/promotional markets will allow our newly-combined company to realize the fastest and most profitable revenue growth, which will provide value to our shareholders.''
Bob Ferris, now president of GameCom/Ferris, stated, ``We are now the leader in virtual reality, both technologically and financially. The combined management depth and resources will allow accelerated commercial development of our virtual reality technology. In addition, GameCom's technology expands our capability in the public-use video game market.''
About GameCom/Ferris
GameCom/Ferris is a fully-reporting, publicly traded Texas corporation headquartered in Arlington, Texas. With operations based in Phoenix, Ariz., GameCom/Ferris designs, manufactures, and assembles `Net GameLink(TM), an interactive Internet gaming concept featuring network-enabled gaming kiosks, and is the world's largest and fastest growing producer of integrated hardware and software technology to the immersive virtual reality industry.
This press release contains certain forward-looking statements. Forward-looking statements are generally preceded by the words such as ``plans,'' ``expects,'' ``believes,'' ``anticipates,'' or ``intends.'' Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from current expectations. GameCom urges investors to review in detail the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Magnum Financial Group, LLC
Ms. Kari Rundquist, 213/488-0443
kari@magnumfinancial.com
Thanks Arch! Lets hope so. The only thing that can hold back GAMZ now is the bad market conditions. All the other uncertainties have been eliminated. The merger is complete, they have funding to get them through the merger and beyond and they got lots of interest in their technology. Lets hope for a great week for the company.
Take Care,
Greg
Gamecom/Ferris Shareholder Meeting 9/21/2001 General Info.
Here are a few other things mentioned.
1. Kelly - One of the things we are going to try to do before to long is have a call in show. A
radio call in show where all of our shareholders can call in and I will answer questions. One
of the things that is frustrating is the inability to talk candidly about material things that have
not yet been disclosed.
2. Mr Cooper asked - What ever happened to Netgamelink deals in Korea and Europe?
Kelly - Well the best answer I can give you right now is we can't tell you. There has been
negotiations for volume sales of those.
Steve - The other thing I think the shareholders should realize is the research and
development that has gone on the past 3 years with the Netgamelink technology. It has
created a very stable robust PC environment that is applicable in a variety of Kiosk
situations regardless if it's video games or helping someone order medicine. It can be
used for virtually anything and I can tell you as a business development partner we are
looking at all aspects of using that technology. We are very much ahead of the curve on this
technology.
Kelly - Some of the things we have announced in the past have not panned out and some
we don't know yet.
I asked. The new Netgamelink what is it going to look like?
Kelly - It depends on what the customer wants. We are in negotiations for multiple types of
uses.
I asked. Have you decided it you are going with AMD or INTEL?
Kelly - That's something else that we are looking at. We have a strong loyalty to AMD
because they were there for us very early on but at some point in time if INTEL makes us an
offer that we need to go with and we visit with AMD about it. We owe AMD a huge loyalty
but if we have an offer from INTEL that is so overwhelming and AMD can't come close to it
we will have to make a decision that will be in the best interests of our shareholders.
I asked. Can you go over the shows you will be at this year?
Lance - Two weeks we are going to be at the Aztec in Phoenix which is a huge museum
and science show. Then shortly after that is the IAPPA.
Kelly - I am going to be in New York and one of these guys will be going with me on
October 17th for a discovery expo show at the Crown Plaza Times Square and we will also
be taping a TV show at the American Stock exchange.
Mr. Cooper asks - Who are our competitors since we are the leader in our field?
Lance - As far as direct competition a company that can provide not only the content but the
hardware solution in its entirety we are not aware of anyone that does exactly what we do to
its magnitude.
I asked - What is the estimated time frame to complete a project from start to finish?
Lance - It varies some projects can take 30 days and some experiences could take 8 to 10
months.
They ran the Buick Lasabre test drive this year also but we had to make it 2001 compliant.
Gamecom/Ferris Shareholder Meeting 9/21/2001 General Info.
Here are a few other things mentioned.
1. Kelly - One of the things we are going to try to do before to long is have a call in show. A
radio call in show where all of our shareholders can call in and I will answer questions. One
of the things that is frustrating is the inability to talk candidly about material things that have
not yet been disclosed.
2. Mr Cooper asked - What ever happened to Netgamelink deals in Korea and Europe?
Kelly - Well the best answer I can give you right now is we can't tell you. There has been
negotiations for volume sales of those.
Steve - The other thing I think the shareholders should realize is the research and
development that has gone on the past 3 years with the Netgamelink technology. It has
created a very stable robust PC environment that is applicable in a variety of Kiosk
situations regardless if it's video games or helping someone order medicine. It can be
used for virtually anything and I can tell you as a business development partner we are
looking at all aspects of using that technology. We are very much ahead of the curve on this
technology.
Kelly - Some of the things we have announced in the past have not panned out and some
we don't know yet.
I asked. The new Netgamelink what is it going to look like?
Kelly - It depends on what the customer wants. We are in negotiations for multiple types of
uses.
I asked. Have you decided it you are going with AMD or INTEL?
Kelly - That's something else that we are looking at. We have a strong loyalty to AMD
because they were there for us very early on but at some point in time if INTEL makes us an
offer that we need to go with and we visit with AMD about it. We owe AMD a huge loyalty
but if we have an offer from INTEL that is so overwhelming and AMD can't come close to it
we will have to make a decision that will be in the best interests of our shareholders.
I asked. Can you go over the shows you will be at this year?
Lance - Two weeks we are going to be at the Aztec in Phoenix which is a huge museum
and science show. Then shortly after that is the IAPPA.
Kelly - I am going to be in New York and one of these guys will be going with me on
October 17th for a discovery expo show at the Crown Plaza Times Square and we will also
be taping a TV show at the American Stock exchange.
Mr. Cooper asks - Who are our competitors since we are the leader in our field?
Lance - As far as direct competition a company that can provide not only the content but the
hardware solution in its entirety we are not aware of anyone that does exactly what we do to
its magnitude.
I asked - What is the estimated time frame to complete a project from start to finish?
Lance - It varies some projects can take 30 days and some experiences could take 8 to 10
months.
They ran the Buick Lasabre test drive this year also but we had to make it 2001 compliant.
Gamecom/Ferris Shareholder Meeting 9/21/2001 General Info.
Here are a few other things mentioned.
1. Kelly - One of the things we are going to try to do before to long is have a call in show. A radio call in show where all of our shareholders can call in and I will answer questions. One of the things that is frustrating is the inability to talk candidly about material things that have not yet been disclosed.
2. Mr Cooper asked - What ever happened to Netgamelink deals in Korea and Europe?
Kelly - Well the best answer I can give you right now is we can't tell you. There has been negotiations for volume sales of those.
Steve - The other thing I think the shareholders should realize is the research and development that has gone on the past 3 years with the Netgamelink technology. It has created a very stable robust PC environment that is applicable in a variety of Kiosk situations regardless if it's video games or helping someone order medicine. It can be used for virtually anything and I can tell you as a business development partner we are looking at all aspects of using that technology. We are very much ahead of the curve on this technology.
Kelly - Some of the things we have announced in the past have not panned out and some we don't know yet.
I asked. The new Netgamelink what is it going to look like?
Kelly - It depends on what the customer wants. We are in negotiations for multiple types of uses.
I asked. Have you decided it you are going with AMD or INTEL?
Kelly - That's something else that we are looking at. We have a strong loyalty to AMD because they were there for us very early on but at some point in time if INTEL makes us an offer that we need to go with and we visit with AMD about it. We owe AMD a huge loyalty but if we have an offer from INTEL that is so overwhelming and AMD can't come close to it we will have to make a decision that will be in the best interests of our shareholders.
I asked. Can you go over the shows you will be at this year?
Lance - Two weeks we are going to be at the Aztec in Phoenix which is a huge museum and science show. Then shortly after that is the IAPPA.
Kelly - I am going to be in New York and one of these guys will be going with me on October 17th for a discovery expo show at the Crown Plaza Times Square and we will also be taping a TV show at the American Stock exchange.
Mr. Cooper asks - Who are our competitors since we are the leader in our field?
Lance - As far as direct competition a company that can provide not only the content but the hardware solution in its entirety we are not aware of anyone that does exactly what we do to its magnitude.
I asked - What is the estimated time frame to complete a project from start to finish?
Lance - It varies some projects can take 30 days and some experiences could take 8 to 10 months.
They ran the Buick Lasabre test drive this year also but we had to make it 2001 compliant.
Gamecom/Ferris Shareholder Meeting 9/21/2001
This transcript will not be word for word but it will cover the important points discussed in the
meeting. The meeting lasted 2 hours and all items passed easily. Most of this transcript is Kelly
Jones speaking. I will note when someone other then Kelly is speaking.
Kelly Jones CEO of Gamecom speaking:
Special Meeting of Gamecom I like to thank the shareholders who came here today. I like to take this
opportunity to introduce the officers of the company and who some of the future officers are going to
be. I am Kelly Jones CEO of Gamecom I will continue as CEO after the merger.
John Aleckner is the current president of Gamecom John will remain on the board of the directors of
the combined company. Steven Haag is vice president of operations for Gamecom. Steve will stay
on with the combined company as Vice president of Business Development. Kimberly Biggs,
secretary of Gamecom she will stay on as secretary of the combined company. Lance Loesberg
vice president of business development for Ferris he will be asked to be on the board of directors
and be the executive vice president of the combined company. List of shareholders of record as of
August 10, 2001. There is an additional 1 million shares that are eligible to vote our securities lawyer
did not get the opinion letters to the transfer agent in time for the shares to be authorized and issued.
By law our records are minutes of shares issued and controls and is the determining numbers to be
used. That is why there is a difference between the transfer agents numbers and Gamecom's. Ms
Biggs will now announce if we have a quorum. 14,462,261 shares of common stock as of August
10, 2001. The amount represented by proxy is 10,103,204 so we have a quorum.
Ferris shareholders have met today and approved the merger of Gamecom.
The proxy statement sent out was correct but since we are not a Nasdaq company the first item on
the proxy card approving the issuing of shares in the merger does not require a vote for
shareholders.
Motion to approve the merger of Ferris productions. Got a motion and a second.
For: 10,073,754
Against: 54,600
Abstain: 10,850
Approve the amendments to the article of incorporation set forth in the proxy statement. Got a
motion and a second.
For: 10,030,604
Against: 108,300
Abstain: 300
Approve the incentive stock option plan to increase the number of shares to 6 million shares. Got a
motion and a second.
For: 9,661,138
Against: 32,646
Abstain: 445,428
Approve to elect to change the corporate name. Got a motion and a second.
For: 12,552,546
Against: 2,500
Abstain: 1,300
I am pleased to announce to Gamecom shareholders and to Ferris shareholders that each of the
four proposals has received a vote required for approval and therefore we will direct our legal
counsel to proceed with filing the articles of merger at a soon as possible date and we expect that
this merger is be accomplished by Tuesday,Wednesday or Thursday of next week.
Jim Poynter, vice president of Gamecom and a director enters the meeting.
Is there any discussion regarding these proposals? No discussion.
Mr. Cooper a shareholder of Gamecom asks.
Could you explain the Press release you put out this morning?
We have been looking for a broader perspective for capital the Swartz line is a great financing
vehicle in a Bull market but not a good financing vehicle in a Bear market with low volume and a low
share price. This deal is an outstanding deal for the company. They do not plan on having the
company repay them. They plan on converting. The shares are convertible at current market rate.
We will receive 250,000 dollars next week, we will receive 375,000 on or before October 15th and
375,000 on or before November 15th. The number of shares that each traunch is convertible into is
based on the 5 preceding days closing price. There is no discount to market which is unheard of.
We also entered into a consultant agreement with Olympic for them to find us additional acquisition
targets. All these things started Greg by going to New York and planting seeds this financing
package came out of talks with Prudential and Bear Stearns.
Mr. Cooper asks the purpose of the million dollars is to do what?
Ferris brings some debt into the deal our challenge is going to be utilizing the revenue Ferris
provides us along with the additional market exposure and growth of their reputation to create
market interest in the company sufficient enough to timely address Ferris' debt. This million dollars
there are many mouths to feed at the table but it gets us through the merger, gets our professionals
paid and a few other things. The consultant agreement in the S8 put out today they get 700,000
thousand free trading shares. However if they don't bring us a suitable acquisition candidate at our
good faith discretion they have to sell us back 350,000 shares at a dime. We clearly pointed this out
in the S8 if they go sell those shares today and they don't find us a good candidate they will have to
sell us back those shares at a dime which means they would have to buy them back at the current
market price which could be a lot higher. The debenture shares will have one year restrictions from
the date of the last traunch. This all indicates that they will be long term investors.
Mr. Cooper asks what type of company are you looking to acquire?
We are looking for companies that will increase our revenue, sales and industry presence with
minimal debt. If we can have the right opportunity to create revenue to create more earnings per
share that is the type of things that the investment community is going to recognize. That is how we
are going to get on the kinds of radar screens that we want to get on.
Mr. Cooper asks how far away are we from getting on that radar screen?
Well they know were there were not on the screen yet. That's hard to answer based on the market
we are in right now. I don't know what's going to happen and all we can do is try to continue to build
the company and we are in an industry that I don't think we will be to adversely affected if the
economy continues to deteriorate for an extended period. The whole parameters of the investment
community have changed. They are not looking for market share anymore. They had enough market
share with the Internet companies. They are looking for revenue they are looking emerging leaders
of an industry. Probably the best thing that has happened to this company besides the Ferris Merger
in terms of where were headed is this PC magazine that shows that virtual reality is one of the top
10 industries that will impact our lives for the next 20 years. All the analysts realize that this is a
growth industry. We are negotiating to acquire a competitor of Ferris' that gives us more of the
market share of virtual reality. It is that type of company we are looking for we don't need anymore
debt. That's the challenge of the Ferris merger there was a post on ragingbull that absolutely in my
opinion nailed where this company is in terms of what the Ferris merger does for us and what our
challenge is. It brings us industry presence and as soon as we file these papers next week and are
merged we are now the leader in virtual reality. Lance has a 7 or 8 year history in this industry and
he can tell you how this industry has evolved. We are now the dominate company in virtual reality
and the more we can expand that reach the better off we are.
I asked. The 775,000 shares when will those shares be issued?
It could be issued today. This is why the numbers are different from our numbers and the transfer
agents. Anytime shares are issued there are many things that could happen. The directors have to
approve the resolution to authorize the shares. Then we have to send that resolution to the transfer
agent. Then the securities counsel has to send an opinion letter to the transfer agent informing them
the shares have been authorized and that the company has properly issued the shares upon that
then the transfer agent actually issues the shares. The transfer agent actually prepares the shares
and sends them out. It is not controlling for the 10Q's filed, for the number of shares to vote, or 144's
our corporate records controls. The difference here is that they didn't gets those letters sent to the
transfer agent and because they were mostly our shares we didn't care because we knew they
were properly authorized.
I asked. Is there a certain price they will be issued at?
No, an S8 is issued for services rendered to the corporation. There is no money involved. We
issued 75,000 shares to the lawyers who put together the proxy statement so that we would stay on
top of their priority list so the proxy would be done promptly. The 700,000 shares issued to Olympic
is to pay them for this one year consultant agreement to find us acquisition targets. There is one
small company we are looking at that Ferris knows so the due diligence period would be nil. The
other company is of interest to us but we have to much on our plate right now with the Ferris
merger.
I asked. Does Olympic have a website?
I don't know I noticed all that business. Olympic is a newly formed company. I don't know if they
have a website.
I asked. How many people work for Olympic?
There is at least 10 people who work for the company. There is a Bio-technical, Bio-medical
element of this company that we are looking at. Now we are looking at a company that is 25 percent
Bio-technical. Olympic would take off the Bio-technical part of the company and we would take the
part of the company that relates to our industry and acquire that.
I asked. Are you looking at getting into the Military Industry?
The law enforcement and Military could be the biggest element of opportunities we have for virtual
reality. Deadly force training for police officers for military we can put them in environments that they
can't otherwise be put in. We can make them better officers and better soldiers by putting them in a
360 degree environment. We can put them in places like the Afghan mountains.
Mr. Cooper asks - How far away are you from doing that?
Lance you can answer that question. All we need is someone to cut us a check. The technology is
there we are looking for a buyer right now.
Mr Copper asks - So someone like special forces or Navy Seals or somebody like that will be a
potential buyer?
Lance - Anyone of those and a hundred more it is quite a few actually especially after last weeks
disaster. We got phone calls as recently as two hours ago. It is a very viable industry.
Kelly - I'll say this. A member of the Senate arms services committee has had a fund raiser in this
very office. We are ready and I think the opportunities for that are very real.
I asked. Have you filed a Summary judgement yet to dismiss the ETPI lawsuit?
I don't know if it has been filed and I appreciate the opportunity to address that. The press release
that ETPI issued was extremely misleading. There not going to win the lawsuit period end of story
take it to the bank. There is a clear case in Texas that says those type of agreements are not
enforceable. However the agreement that Ferris and ETPI signed says that it is to distributed under
Delaware law. The judge said two things to our law firm. First he said show me some authority
where a Texas court has disregarded a choice of law provision and applied the law of the state. We
got that case for him it was done by the Houston court of appeals. In that case the court disregarded
the choice of law provisions for Louisiana and applied Texas law ruling Texas law had more to do
with the parties than the law of Louisiana. That sound familiar you have Gamecom Texas
corporation you got ETPI headquartered in Texas, you got Ferris doing business in Texas, you have
the agreement negotiated in Texas and in Delaware you have a couple of companies that are
incorporated there but don't do business there. What state has more to do with the transaction
Texas or Delaware? Second of all and this is were in my opinion ETPI intentionally mislead people.
The judge said I am going to rule that Delaware law applies but Mr. Harwell you haven't sited any
Delaware law that supports your cause of action and that is why we are filing it is called special
exceptions Summary Judgement and even if you apply Delaware law they don't have any law under
the state of Delaware that gives them the coverage they seek. Now that says nothing to the fact we
have witnesses that will show that the CEO of ETPI on several occasions told Bob Ferris that we
don't think we can do your deal. We will have evidence that ETPI has defaulted on promissory notes
that it owes Ferris so even if we have to get to the merits of the case and we don't think we will we
are extremely confident that we are going to win.
I asked - Are you going to file a claim regarding the promissory notes ETPI defaulted on?
That counterclaim has already been filed. It is called Ferris' counterclaim against ETPI. Here is ETPI
claiming that Ferris is not negotiating in good faith and ETPI doesn't bother to pay its promissory
notes it owes Ferris. So there is a whole lot more to this than ETPI wins Summary Judgement and
all the judge has ruled is that for right now I am going to apply Delaware law that's it.
I asked - Do you have a figure on the Float after the merger is complete?
Well the Float is not going to change Greg. The Float has increased by 775,000 shares as shown in
the S8 but that is the beauty of the Ferris side and the commitment that the Ferris shareholders
have made to the future of the combined company is that all the shares are restricted. I will point out
that the vast majority of those shares are insider shares anyway so even after the one year holding
period you are subject to the leak out rules that all of us as insiders are subject to.
I asked - What about the shares you planned on redeeming have you redeemed them yet?
Those shares have not yet been redeemed and frankly we just didn't get it done and that is another
reason that the shares that are eligible to vote is about 775,000 shares higher. Accounting wise at
the suggestion of our CPA we have taken those shares out because for Accounting purposes they
have been redeemed and our obligation to pay for those is on the books. That is why our Accounting
numbers filed with the SEC did not show those redeemed shares but we haven't actually redeemed
them yet. They still show on our transfer agents records so upon the advice of our securities
counsel we felt it best to go ahead and include those for the purpose of this meeting which I point out
made it harder to get to our numbers anyway.
I asked - Can you give an update on the Projects Ferris recently completed?
Lance - The US ski team project we did for Chevrolet is scheduled to leave a week from Monday
from Detroit and it has a schedule of 60 cities that it is going to hit.
I saw a small clip of this Ski jump experience and was very impressed with the graphics and
scenes. There wasn't a headset attached to the video so I couldn't get the full experience.
Lance - The Red Baron one is due to go out the end of October for their tour. We are in the final
process now for both of them for doing what we call our scan/conversion of taking it from film to
digitizing it and then actually loading it into the hardware platform. We installed the platforms last
week for Chevrolet. We are installing Red Barons equipment next week.
I saw the raw film footage of the Red Baron squadron experience and was impressed with the detail
of the images and all the scenes. There wasn't a headset attached to the video so I couldn't get the
full experience.
I did get the full experience of the Buick LeSabre experience and was very impressed with the
motion tracking in the headset. I shook my head to test it and it was very responsive. The level of
detail was also impressive. I could turn my head and see the back of the car and I could even see
ole Ben through the rear view mirror and when you turn around he talks to you. There was also
smells of free cut grass and roasted chestnuts coming from a vendor cart outside Central Park.
Gamecom/Ferris Shareholder Meeting 9/21/2001
This transcript will not be word for word but it will cover the important points discussed in the
meeting. The meeting lasted 2 hours and all items passed easily. Most of this transcript is Kelly
Jones speaking. I will note when someone other then Kelly is speaking.
Kelly Jones CEO of Gamecom speaking:
Special Meeting of Gamecom I like to thank the shareholders who came here today. I like to take this
opportunity to introduce the officers of the company and who some of the future officers are going to
be. I am Kelly Jones CEO of Gamecom I will continue as CEO after the merger.
John Aleckner is the current president of Gamecom John will remain on the board of the directors of
the combined company. Steven Haag is vice president of operations for Gamecom. Steve will stay
on with the combined company as Vice president of Business Development. Kimberly Biggs,
secretary of Gamecom she will stay on as secretary of the combined company. Lance Loesberg
vice president of business development for Ferris he will be asked to be on the board of directors
and be the executive vice president of the combined company. List of shareholders of record as of
August 10, 2001. There is an additional 1 million shares that are eligible to vote our securities lawyer
did not get the opinion letters to the transfer agent in time for the shares to be authorized and issued.
By law our records are minutes of shares issued and controls and is the determining numbers to be
used. That is why there is a difference between the transfer agents numbers and Gamecom's. Ms
Biggs will now announce if we have a quorum. 14,462,261 shares of common stock as of August
10, 2001. The amount represented by proxy is 10,103,204 so we have a quorum.
Ferris shareholders have met today and approved the merger of Gamecom.
The proxy statement sent out was correct but since we are not a Nasdaq company the first item on
the proxy card approving the issuing of shares in the merger does not require a vote for
shareholders.
Motion to approve the merger of Ferris productions. Got a motion and a second.
For: 10,073,754
Against: 54,600
Abstain: 10,850
Approve the amendments to the article of incorporation set forth in the proxy statement. Got a
motion and a second.
For: 10,030,604
Against: 108,300
Abstain: 300
Approve the incentive stock option plan to increase the number of shares to 6 million shares. Got a
motion and a second.
For: 9,661,138
Against: 32,646
Abstain: 445,428
Approve to elect to change the corporate name. Got a motion and a second.
For: 12,552,546
Against: 2,500
Abstain: 1,300
I am pleased to announce to Gamecom shareholders and to Ferris shareholders that each of the
four proposals has received a vote required for approval and therefore we will direct our legal
counsel to proceed with filing the articles of merger at a soon as possible date and we expect that
this merger is be accomplished by Tuesday,Wednesday or Thursday of next week.
Jim Poynter, vice president of Gamecom and a director enters the meeting.
Is there any discussion regarding these proposals? No discussion.
Mr. Cooper a shareholder of Gamecom asks.
Could you explain the Press release you put out this morning?
We have been looking for a broader perspective for capital the Swartz line is a great financing
vehicle in a Bull market but not a good financing vehicle in a Bear market with low volume and a low
share price. This deal is an outstanding deal for the company. They do not plan on having the
company repay them. They plan on converting. The shares are convertible at current market rate.
We will receive 250,000 dollars next week, we will receive 375,000 on or before October 15th and
375,000 on or before November 15th. The number of shares that each traunch is convertible into is
based on the 5 preceding days closing price. There is no discount to market which is unheard of.
We also entered into a consultant agreement with Olympic for them to find us additional acquisition
targets. All these things started Greg by going to New York and planting seeds this financing
package came out of talks with Prudential and Bear Stearns.
Mr. Cooper asks the purpose of the million dollars is to do what?
Ferris brings some debt into the deal our challenge is going to be utilizing the revenue Ferris
provides us along with the additional market exposure and growth of their reputation to create
market interest in the company sufficient enough to timely address Ferris' debt. This million dollars
there are many mouths to feed at the table but it gets us through the merger, gets our professionals
paid and a few other things. The consultant agreement in the S8 put out today they get 700,000
thousand free trading shares. However if they don't bring us a suitable acquisition candidate at our
good faith discretion they have to sell us back 350,000 shares at a dime. We clearly pointed this out
in the S8 if they go sell those shares today and they don't find us a good candidate they will have to
sell us back those shares at a dime which means they would have to buy them back at the current
market price which could be a lot higher. The debenture shares will have one year restrictions from
the date of the last traunch. This all indicates that they will be long term investors.
Mr. Cooper asks what type of company are you looking to acquire?
We are looking for companies that will increase our revenue, sales and industry presence with
minimal debt. If we can have the right opportunity to create revenue to create more earnings per
share that is the type of things that the investment community is going to recognize. That is how we
are going to get on the kinds of radar screens that we want to get on.
Mr. Cooper asks how far away are we from getting on that radar screen?
Well they know were there were not on the screen yet. That's hard to answer based on the market
we are in right now. I don't know what's going to happen and all we can do is try to continue to build
the company and we are in an industry that I don't think we will be to adversely affected if the
economy continues to deteriorate for an extended period. The whole parameters of the investment
community have changed. They are not looking for market share anymore. They had enough market
share with the Internet companies. They are looking for revenue they are looking emerging leaders
of an industry. Probably the best thing that has happened to this company besides the Ferris Merger
in terms of where were headed is this PC magazine that shows that virtual reality is one of the top
10 industries that will impact our lives for the next 20 years. All the analysts realize that this is a
growth industry. We are negotiating to acquire a competitor of Ferris' that gives us more of the
market share of virtual reality. It is that type of company we are looking for we don't need anymore
debt. That's the challenge of the Ferris merger there was a post on ragingbull that absolutely in my
opinion nailed where this company is in terms of what the Ferris merger does for us and what our
challenge is. It brings us industry presence and as soon as we file these papers next week and are
merged we are now the leader in virtual reality. Lance has a 7 or 8 year history in this industry and
he can tell you how this industry has evolved. We are now the dominate company in virtual reality
and the more we can expand that reach the better off we are.
I asked. The 775,000 shares when will those shares be issued?
It could be issued today. This is why the numbers are different from our numbers and the transfer
agents. Anytime shares are issued there are many things that could happen. The directors have to
approve the resolution to authorize the shares. Then we have to send that resolution to the transfer
agent. Then the securities counsel has to send an opinion letter to the transfer agent informing them
the shares have been authorized and that the company has properly issued the shares upon that
then the transfer agent actually issues the shares. The transfer agent actually prepares the shares
and sends them out. It is not controlling for the 10Q's filed, for the number of shares to vote, or 144's
our corporate records controls. The difference here is that they didn't gets those letters sent to the
transfer agent and because they were mostly our shares we didn't care because we knew they
were properly authorized.
I asked. Is there a certain price they will be issued at?
No, an S8 is issued for services rendered to the corporation. There is no money involved. We
issued 75,000 shares to the lawyers who put together the proxy statement so that we would stay on
top of their priority list so the proxy would be done promptly. The 700,000 shares issued to Olympic
is to pay them for this one year consultant agreement to find us acquisition targets. There is one
small company we are looking at that Ferris knows so the due diligence period would be nil. The
other company is of interest to us but we have to much on our plate right now with the Ferris
merger.
I asked. Does Olympic have a website?
I don't know I noticed all that business. Olympic is a newly formed company. I don't know if they
have a website.
I asked. How many people work for Olympic?
There is at least 10 people who work for the company. There is a Bio-technical, Bio-medical
element of this company that we are looking at. Now we are looking at a company that is 25 percent
Bio-technical. Olympic would take off the Bio-technical part of the company and we would take the
part of the company that relates to our industry and acquire that.
I asked. Are you looking at getting into the Military Industry?
The law enforcement and Military could be the biggest element of opportunities we have for virtual
reality. Deadly force training for police officers for military we can put them in environments that they
can't otherwise be put in. We can make them better officers and better soldiers by putting them in a
360 degree environment. We can put them in places like the Afghan mountains.
Mr. Cooper asks - How far away are you from doing that?
Lance you can answer that question. All we need is someone to cut us a check. The technology is
there we are looking for a buyer right now.
Mr Copper asks - So someone like special forces or Navy Seals or somebody like that will be a
potential buyer?
Lance - Anyone of those and a hundred more it is quite a few actually especially after last weeks
disaster. We got phone calls as recently as two hours ago. It is a very viable industry.
Kelly - I'll say this. A member of the Senate arms services committee has had a fund raiser in this
very office. We are ready and I think the opportunities for that are very real.
I asked. Have you filed a Summary judgement yet to dismiss the ETPI lawsuit?
I don't know if it has been filed and I appreciate the opportunity to address that. The press release
that ETPI issued was extremely misleading. There not going to win the lawsuit period end of story
take it to the bank. There is a clear case in Texas that says those type of agreements are not
enforceable. However the agreement that Ferris and ETPI signed says that it is to distributed under
Delaware law. The judge said two things to our law firm. First he said show me some authority
where a Texas court has disregarded a choice of law provision and applied the law of the state. We
got that case for him it was done by the Houston court of appeals. In that case the court disregarded
the choice of law provisions for Louisiana and applied Texas law ruling Texas law had more to do
with the parties than the law of Louisiana. That sound familiar you have Gamecom Texas
corporation you got ETPI headquartered in Texas, you got Ferris doing business in Texas, you have
the agreement negotiated in Texas and in Delaware you have a couple of companies that are
incorporated there but don't do business there. What state has more to do with the transaction
Texas or Delaware? Second of all and this is were in my opinion ETPI intentionally mislead people.
The judge said I am going to rule that Delaware law applies but Mr. Harwell you haven't sited any
Delaware law that supports your cause of action and that is why we are filing it is called special
exceptions Summary Judgement and even if you apply Delaware law they don't have any law under
the state of Delaware that gives them the coverage they seek. Now that says nothing to the fact we
have witnesses that will show that the CEO of ETPI on several occasions told Bob Ferris that we
don't think we can do your deal. We will have evidence that ETPI has defaulted on promissory notes
that it owes Ferris so even if we have to get to the merits of the case and we don't think we will we
are extremely confident that we are going to win.
I asked - Are you going to file a claim regarding the promissory notes ETPI defaulted on?
That counterclaim has already been filed. It is called Ferris' counterclaim against ETPI. Here is ETPI
claiming that Ferris is not negotiating in good faith and ETPI doesn't bother to pay its promissory
notes it owes Ferris. So there is a whole lot more to this than ETPI wins Summary Judgement and
all the judge has ruled is that for right now I am going to apply Delaware law that's it.
I asked - Do you have a figure on the Float after the merger is complete?
Well the Float is not going to change Greg. The Float has increased by 775,000 shares as shown in
the S8 but that is the beauty of the Ferris side and the commitment that the Ferris shareholders
have made to the future of the combined company is that all the shares are restricted. I will point out
that the vast majority of those shares are insider shares anyway so even after the one year holding
period you are subject to the leak out rules that all of us as insiders are subject to.
I asked - What about the shares you planned on redeeming have you redeemed them yet?
Those shares have not yet been redeemed and frankly we just didn't get it done and that is another
reason that the shares that are eligible to vote is about 775,000 shares higher. Accounting wise at
the suggestion of our CPA we have taken those shares out because for Accounting purposes they
have been redeemed and our obligation to pay for those is on the books. That is why our Accounting
numbers filed with the SEC did not show those redeemed shares but we haven't actually redeemed
them yet. They still show on our transfer agents records so upon the advice of our securities
counsel we felt it best to go ahead and include those for the purpose of this meeting which I point out
made it harder to get to our numbers anyway.
I asked - Can you give an update on the Projects Ferris recently completed?
Lance - The US ski team project we did for Chevrolet is scheduled to leave a week from Monday
from Detroit and it has a schedule of 60 cities that it is going to hit.
I saw a small clip of this Ski jump experience and was very impressed with the graphics and
scenes. There wasn't a headset attached to the video so I couldn't get the full experience.
Lance - The Red Baron one is due to go out the end of October for their tour. We are in the final
process now for both of them for doing what we call our scan/conversion of taking it from film to
digitizing it and then actually loading it into the hardware platform. We installed the platforms last
week for Chevrolet. We are installing Red Barons equipment next week.
I saw the raw film footage of the Red Baron squadron experience and was impressed with the detail
of the images and all the scenes. There wasn't a headset attached to the video so I couldn't get the
full experience.
I did get the full experience of the Buick LeSabre experience and was very impressed with the
motion tracking in the headset. I shook my head to test it and it was very responsive. The level of
detail was also impressive. I could turn my head and see the back of the car and I could even see
ole Ben through the rear view mirror and when you turn around he talks to you. There was also
smells of free cut grass and roasted chestnuts coming from a vendor cart outside Central Park.
Gamecom/Ferris Shareholder Meeting 9/21/2001
This transcript will not be word for word but it will cover the important points discussed in the meeting. The meeting lasted 2 hours and all items passed easily. Most of this transcript is Kelly Jones speaking. I will note when someone other then Kelly is speaking.
Kelly Jones CEO of Gamecom speaking:
Special Meeting of Gamecom I like to thank the shareholders who came here today. I like to take this opportunity to introduce the officers of the company and who some of the future officers are going to be. I am Kelly Jones CEO of Gamecom I will continue as CEO after the merger.
John Aleckner is the current president of Gamecom John will remain on the board of the directors of the combined company. Steven Haag is vice president of operations for Gamecom. Steve will stay on with the combined company as Vice president of Business Development. Kimberly Biggs, secretary of Gamecom she will stay on as secretary of the combined company. Lance Loesberg vice president of business development for Ferris he will be asked to be on the board of directors and be the executive vice president of the combined company. List of shareholders of record as of August 10, 2001. There is an additional 1 million shares that are eligible to vote our securities lawyer did not get the opinion letters to the transfer agent in time for the shares to be authorized and issued. By law our records are minutes of shares issued and controls and is the determining numbers to be used. That is why there is a difference between the transfer agents numbers and Gamecom's. Ms Biggs will now announce if we have a quorum. 14,462,261 shares of common stock as of August 10, 2001. The amount represented by proxy is 10,103,204 so we have a quorum.
Ferris shareholders have met today and approved the merger of Gamecom.
The proxy statement sent out was correct but since we are not a Nasdaq company the first item on the proxy card approving the issuing of shares in the merger does not require a vote for shareholders.
Motion to approve the merger of Ferris productions. Got a motion and a second.
For: 10,073,754
Against: 54,600
Abstain: 10,850
Approve the amendments to the article of incorporation set forth in the proxy statement. Got a motion and a second.
For: 10,030,604
Against: 108,300
Abstain: 300
Approve the incentive stock option plan to increase the number of shares to 6 million shares. Got a motion and a second.
For: 9,661,138
Against: 32,646
Abstain: 445,428
Approve to elect to change the corporate name. Got a motion and a second.
For: 12,552,546
Against: 2,500
Abstain: 1,300
I am pleased to announce to Gamecom shareholders and to Ferris shareholders that each of the four proposals has received a vote required for approval and therefore we will direct our legal counsel to proceed with filing the articles of merger at a soon as possible date and we expect that this merger is be accomplished by Tuesday,Wednesday or Thursday of next week.
Jim Poynter, vice president of Gamecom and a director enters the meeting.
Is there any discussion regarding these proposals? No discussion.
Mr. Cooper a shareholder of Gamecom asks.
Could you explain the Press release you put out this morning?
We have been looking for a broader perspective for capital the Swartz line is a great financing vehicle in a Bull market but not a good financing vehicle in a Bear market with low volume and a low share price. This deal is an outstanding deal for the company. They do not plan on having the company repay them. They plan on converting. The shares are convertible at current market rate. We will receive 250,000 dollars next week, we will receive 375,000 on or before October 15th and 375,000 on or before November 15th. The number of shares that each traunch is convertible into is based on the 5 preceding days closing price. There is no discount to market which is unheard of. We also entered into a consultant agreement with Olympic for them to find us additional acquisition targets. All these things started Greg by going to New York and planting seeds this financing package came out of talks with Prudential and Bear Stearns.
Mr. Cooper asks the purpose of the million dollars is to do what?
Ferris brings some debt into the deal our challenge is going to be utilizing the revenue Ferris provides us along with the additional market exposure and growth of their reputation to create market interest in the company sufficient enough to timely address Ferris' debt. This million dollars there are many mouths to feed at the table but it gets us through the merger, gets our professionals paid and a few other things. The consultant agreement in the S8 put out today they get 700,000 thousand free trading shares. However if they don't bring us a suitable acquisition candidate at our good faith discretion they have to sell us back 350,000 shares at a dime. We clearly pointed this out in the S8 if they go sell those shares today and they don't find us a good candidate they will have to sell us back those shares at a dime which means they would have to buy them back at the current market price which could be a lot higher. The debenture shares will have one year restrictions from the date of the last traunch. This all indicates that they will be long term investors.
Mr. Cooper asks what type of company are you looking to acquire?
We are looking for companies that will increase our revenue, sales and industry presence with minimal debt. If we can have the right opportunity to create revenue to create more earnings per share that is the type of things that the investment community is going to recognize. That is how we are going to get on the kinds of radar screens that we want to get on.
Mr. Cooper asks how far away are we from getting on that radar screen?
Well they know were there were not on the screen yet. That's hard to answer based on the market we are in right now. I don't know what's going to happen and all we can do is try to continue to build the company and we are in an industry that I don't think we will be to adversely affected if the economy continues to deteriorate for an extended period. The whole parameters of the investment community have changed. They are not looking for market share anymore. They had enough market share with the Internet companies. They are looking for revenue they are looking emerging leaders of an industry. Probably the best thing that has happened to this company besides the Ferris Merger in terms of where were headed is this PC magazine that shows that virtual reality is one of the top 10 industries that will impact our lives for the next 20 years. All the analysts realize that this is a growth industry. We are negotiating to acquire a competitor of Ferris' that gives us more of the market share of virtual reality. It is that type of company we are looking for we don't need anymore debt. That's the challenge of the Ferris merger there was a post on ragingbull that absolutely in my opinion nailed where this company is in terms of what the Ferris merger does for us and what our challenge is. It brings us industry presence and as soon as we file these papers next week and are merged we are now the leader in virtual reality. Lance has a 7 or 8 year history in this industry and he can tell you how this industry has evolved. We are now the dominate company in virtual reality and the more we can expand that reach the better off we are.
I asked. The 775,000 shares when will those shares be issued?
It could be issued today. This is why the numbers are different from our numbers and the transfer agents. Anytime shares are issued there are many things that could happen. The directors have to approve the resolution to authorize the shares. Then we have to send that resolution to the transfer agent. Then the securities counsel has to send an opinion letter to the transfer agent informing them the shares have been authorized and that the company has properly issued the shares upon that then the transfer agent actually issues the shares. The transfer agent actually prepares the shares and sends them out. It is not controlling for the 10Q's filed, for the number of shares to vote, or 144's our corporate records controls. The difference here is that they didn't gets those letters sent to the transfer agent and because they were mostly our shares we didn't care because we knew they were properly authorized.
I asked. Is there a certain price they will be issued at?
No, an S8 is issued for services rendered to the corporation. There is no money involved. We issued 75,000 shares to the lawyers who put together the proxy statement so that we would stay on top of their priority list so the proxy would be done promptly. The 700,000 shares issued to Olympic is to pay them for this one year consultant agreement to find us acquisition targets. There is one small company we are looking at that Ferris knows so the due diligence period would be nil. The other company is of interest to us but we have to much on our plate right now with the Ferris merger.
I asked. Does Olympic have a website?
I don't know I noticed all that business. Olympic is a newly formed company. I don't know if they have a website.
I asked. How many people work for Olympic?
There is at least 10 people who work for the company. There is a Bio-technical, Bio-medical element of this company that we are looking at. Now we are looking at a company that is 25 percent Bio-technical. Olympic would take off the Bio-technical part of the company and we would take the part of the company that relates to our industry and acquire that.
I asked. Are you looking at getting into the Military Industry?
The law enforcement and Military could be the biggest element of opportunities we have for virtual reality. Deadly force training for police officers for military we can put them in environments that they can't otherwise be put in. We can make them better officers and better soldiers by putting them in a 360 degree environment. We can put them in places like the Afghan mountains.
Mr. Cooper asks - How far away are you from doing that?
Lance you can answer that question. All we need is someone to cut us a check. The technology is there we are looking for a buyer right now.
Mr Copper asks - So someone like special forces or Navy Seals or somebody like that will be a potential buyer?
Lance - Anyone of those and a hundred more it is quite a few actually especially after last weeks disaster. We got phone calls as recently as two hours ago. It is a very viable industry.
Kelly - I'll say this. A member of the Senate arms services committee has had a fund raiser in this very office. We are ready and I think the opportunities for that are very real.
I asked. Have you filed a Summary judgement yet to dismiss the ETPI lawsuit?
I don't know if it has been filed and I appreciate the opportunity to address that. The press release that ETPI issued was extremely misleading. There not going to win the lawsuit period end of story take it to the bank. There is a clear case in Texas that says those type of agreements are not enforceable. However the agreement that Ferris and ETPI signed says that it is to distributed under Delaware law. The judge said two things to our law firm. First he said show me some authority where a Texas court has disregarded a choice of law provision and applied the law of the state. We got that case for him it was done by the Houston court of appeals. In that case the court disregarded the choice of law provisions for Louisiana and applied Texas law ruling Texas law had more to do with the parties than the law of Louisiana. That sound familiar you have Gamecom Texas corporation you got ETPI headquartered in Texas, you got Ferris doing business in Texas, you have the agreement negotiated in Texas and in Delaware you have a couple of companies that are incorporated there but don't do business there. What state has more to do with the transaction Texas or Delaware? Second of all and this is were in my opinion ETPI intentionally mislead people. The judge said I am going to rule that Delaware law applies but Mr. Harwell you haven't sited any Delaware law that supports your cause of action and that is why we are filing it is called special exceptions Summary Judgement and even if you apply Delaware law they don't have any law under the state of Delaware that gives them the coverage they seek. Now that says nothing to the fact we have witnesses that will show that the CEO of ETPI on several occasions told Bob Ferris that we don't think we can do your deal. We will have evidence that ETPI has defaulted on promissory notes that it owes Ferris so even if we have to get to the merits of the case and we don't think we will we are extremely confident that we are going to win.
I asked - Are you going to file a claim regarding the promissory notes ETPI defaulted on?
That counterclaim has already been filed. It is called Ferris' counterclaim against ETPI. Here is ETPI claiming that Ferris is not negotiating in good faith and ETPI doesn't bother to pay its promissory notes it owes Ferris. So there is a whole lot more to this than ETPI wins Summary Judgement and all the judge has ruled is that for right now I am going to apply Delaware law that's it.
I asked - Do you have a figure on the Float after the merger is complete?
Well the Float is not going to change Greg. The Float has increased by 775,000 shares as shown in the S8 but that is the beauty of the Ferris side and the commitment that the Ferris shareholders have made to the future of the combined company is that all the shares are restricted. I will point out that the vast majority of those shares are insider shares anyway so even after the one year holding period you are subject to the leak out rules that all of us as insiders are subject to.
I asked - What about the shares you planned on redeeming have you redeemed them yet?
Those shares have not yet been redeemed and frankly we just didn't get it done and that is another reason that the shares that are eligible to vote is about 775,000 shares higher. Accounting wise at the suggestion of our CPA we have taken those shares out because for Accounting purposes they have been redeemed and our obligation to pay for those is on the books. That is why our Accounting numbers filed with the SEC did not show those redeemed shares but we haven't actually redeemed them yet. They still show on our transfer agents records so upon the advice of our securities counsel we felt it best to go ahead and include those for the purpose of this meeting which I point out made it harder to get to our numbers anyway.
I asked - Can you give an update on the Projects Ferris recently completed?
Lance - The US ski team project we did for Chevrolet is scheduled to leave a week from Monday from Detroit and it has a schedule of 60 cities that it is going to hit.
I saw a small clip of this Ski jump experience and was very impressed with the graphics and scenes. There wasn't a headset attached to the video so I couldn't get the full experience.
Lance - The Red Baron one is due to go out the end of October for their tour. We are in the final process now for both of them for doing what we call our scan/conversion of taking it from film to digitizing it and then actually loading it into the hardware platform. We installed the platforms last week for Chevrolet. We are installing Red Barons equipment next week.
I saw the raw film footage of the Red Baron squadron experience and was impressed with the detail of the images and all the scenes. There wasn't a headset attached to the video so I couldn't get the full experience.
I did get the full experience of the Buick LeSabre experience and was very impressed with the motion tracking in the headset. I shook my head to test it and it was very responsive. The level of detail was also impressive. I could turn my head and see the back of the car and I could even see ole Ben through the rear view mirror and when you turn around he talks to you. There was also smells of free cut grass and roasted chestnuts coming from a vendor cart outside Central Park.
GameCom acquisition plans blast off
http://www.kioskmarketplace.com/news_story.htm?i=10737
• 21 September 2001
ARLINGTON, Texas - Gaming kiosk designer GameCom Inc., whose shareholders are to vote
on a merger with Ferris Productions Inc. on Sept. 21, plans to keep playing the acquisition
game if its Ferris merger is successful. The company announced on Sept. 21 it would receive
$1 million in funding from investment firm Olympic Holdings, with the firm agreeing to target
acquisition targets for GameCom.
Under the terms of the agreement, Olympic will fund GameCom with convertible debentures in
three phases, the first starting next week. Full funding will be complete by Nov. 15. The
debentures can be converted into common shares of GameCom stock at each funding stage,
and there is no provision for Olympic to gain the shares at a discounted price.
"Olympic exhibited real interest and excitement over the future of our company," said L. Kelly
Jones, GameCom chief executive officer, in a news release. "In addition, the extremely
favorable conversion terms of the debenture reflect Olympic's confidence in our ability to
execute upon our business plan."
GameCom shareholders were supposed to vote on merging with Ferris, a virtual reality
entertainment company, on Sept. 14. But the vote was postponed a week because of the
terrorist attack on the World Trade Center on Sept. 11.
A suit by Entertainment Technologies & Programs Inc. (ETPI), which alleges Ferris broke the
terms of a letter of intent it signed with ETPI before announcing its merger agreement with
GameCom, is pending. Ferris and GameCom were scheduled to file a motion for summary
dismissal of the suit this week.
"Once the Ferris merger is completed, Olympic will assist us in our continuing efforts to look for
opportunities to expand our reach in the interactive computer gaming and virtual reality fields,"
Jones said.
Gamecom/Ferris puts together an Awesome Financing Deal!
Friends and shareholders:
Attached is this morning's press release announcing GameCom's recently-negotiated
relationship with Olympic Holdings, L.L.C., pursuant to which Olympic will fund $1 million in
growth capital to GameCom/Ferris over the next couple of months.
In conjunction with the Ferris merger, I have been seeking a capital infusion to see the
company through the merger, and to help launch the "new" company. With funding
opportunities in decline, I have encountered the usual suspects of financing vehicles, from
proposed hugely-discounted sales of free-trading shares to the typical "death spiral
convertible" offerings.
However, take a close look at our arrangement with Olympic, and I'm very confident you'll be
very pleased. The three debentures, to be issued as Olympic provides the funds in three
traunches over the next two months, bear interest at only six percent, and are convertible at
market rate into restricted shares, to be held a minimum of one year from the last delivery of
funds to GameCom/Ferris. That's it. No discounts to market, no reset provisions.
We are almost equally excited with our new consulting arrangement with Olympic. Its principals
have an excellent track record in finding suitable private companies for acquisition. In fact, a
potential acquisition target brought to our attention by Olympic is how this relationship started.
While we will be taking a careful look at this company beginning next week, after we catch our
breath following completion of the Ferris merger, the more we talked with Olympic, the broader
the discussions became. This debenture and this consulting agreement resulted from those
broader discussions.
Stay tuned, as we look forward to a successful shareholders' meeting this afternoon.
These are simply my personal comments, and should not be relied upon in your investment
decisions. I strongly urge you to conduct your own due diligence with regard to an investment
in GameCom. I respectfully refer you to GameCom's filings with the Securities and Exchange
Commission.
L. Kelly Jones, GameCom CEO
GameCom Secures $1,000,000 in Funding
ARLINGTON, Texas, Sep 21, 2001 (BUSINESS WIRE) -- GameCom,
Inc. (OTCBB:GAMZ), www.GameComInc.com -- a leader in interactive
Internet gaming -- today announced that it has successfully placed
$1,000,000 in convertible debentures with Olympic Holdings, L.L.C.
In addition, the Company has retained Olympic to seek appropriate
acquisition targets for continued expansion.
Olympic, based in Bethesda, Maryland, with a satellite office in Virginia
Beach, Virginia, is a financial, corporate advisory, and investment firm
specializing in the active turnaround of companies in the biotechnical,
biomedical, and medical support industries.
"We are delighted with this financing package from Olympic,"
commented L. Kelly Jones, GameCom's chief executive officer.
"Olympic exhibited real interest and excitement over the future of our
company. In addition, the extremely favorable conversion terms of the
debenture reflect Olympic's confidence in our ability to execute upon our
business plan. Once the Ferris merger is completed, Olympic will assist
us in our continuing efforts to look for opportunities to expand our reach
in the interactive computer gaming and virtual reality fields."
"We are very excited about GameCom/Ferris' future, as evidenced by
our capital infusion," said William E. K. ("Kyle") Hathaway II, manager of
Olympic. "The Company has an exciting story to tell, with excellent
management. We look forward to being long-term participants in the
future of GameCom/Ferris."
The terms of the financing requires Olympic to fund $1,000,000 in three
phases, the first of which will commence next week with the third phase
funded by November 15, 2001. In addition, the convertible debentures
have the right to be converted into common shares of GameCom based
upon the Company's market price at the time of funding for each phase.
The conversion feature does not contain any provisions for a discount to
market price.
About GameCom
GameCom, based in Arlington, Texas, is a fully reporting, publicly
traded Texas corporation. GameCom designs, manufactures, and
assembles `Net GameLink(TM), an interactive Internet gaming concept
featuring network-enabled gaming kiosks. Based in Phoenix, Arizona,
Ferris is the world's largest and fastest growing producer of integrated
hardware and software technology to the immersive virtual reality
industry.
This press release contains certain forward-looking statements.
Forward-looking statements are generally preceded by the words such
as "plans," "expects," "believes," "anticipates," or "intends." Investors
are cautioned that all forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from
current expectations. GameCom urges investors to review in detail the
risks and uncertainties contained within its filings with the Securities
and Exchange Commission.
CONTACT: Magnum Financial Group, LLC
Kari Rundquist, 213-488-0443
kari@magnumfinancial.com
Gamecom/Ferris puts together an Awesome Financing Deal!
Friends and shareholders:
Attached is this morning's press release announcing GameCom's recently-negotiated
relationship with Olympic Holdings, L.L.C., pursuant to which Olympic will fund $1 million in
growth capital to GameCom/Ferris over the next couple of months.
In conjunction with the Ferris merger, I have been seeking a capital infusion to see the
company through the merger, and to help launch the "new" company. With funding
opportunities in decline, I have encountered the usual suspects of financing vehicles, from
proposed hugely-discounted sales of free-trading shares to the typical "death spiral
convertible" offerings.
However, take a close look at our arrangement with Olympic, and I'm very confident you'll be
very pleased. The three debentures, to be issued as Olympic provides the funds in three
traunches over the next two months, bear interest at only six percent, and are convertible at
market rate into restricted shares, to be held a minimum of one year from the last delivery of
funds to GameCom/Ferris. That's it. No discounts to market, no reset provisions.
We are almost equally excited with our new consulting arrangement with Olympic. Its principals
have an excellent track record in finding suitable private companies for acquisition. In fact, a
potential acquisition target brought to our attention by Olympic is how this relationship started.
While we will be taking a careful look at this company beginning next week, after we catch our
breath following completion of the Ferris merger, the more we talked with Olympic, the broader
the discussions became. This debenture and this consulting agreement resulted from those
broader discussions.
Stay tuned, as we look forward to a successful shareholders' meeting this afternoon.
These are simply my personal comments, and should not be relied upon in your investment
decisions. I strongly urge you to conduct your own due diligence with regard to an investment
in GameCom. I respectfully refer you to GameCom's filings with the Securities and Exchange
Commission.
L. Kelly Jones, GameCom CEO
GameCom Secures $1,000,000 in Funding
ARLINGTON, Texas, Sep 21, 2001 (BUSINESS WIRE) -- GameCom,
Inc. (OTCBB:GAMZ), www.GameComInc.com -- a leader in interactive
Internet gaming -- today announced that it has successfully placed
$1,000,000 in convertible debentures with Olympic Holdings, L.L.C.
In addition, the Company has retained Olympic to seek appropriate
acquisition targets for continued expansion.
Olympic, based in Bethesda, Maryland, with a satellite office in Virginia
Beach, Virginia, is a financial, corporate advisory, and investment firm
specializing in the active turnaround of companies in the biotechnical,
biomedical, and medical support industries.
"We are delighted with this financing package from Olympic,"
commented L. Kelly Jones, GameCom's chief executive officer.
"Olympic exhibited real interest and excitement over the future of our
company. In addition, the extremely favorable conversion terms of the
debenture reflect Olympic's confidence in our ability to execute upon our
business plan. Once the Ferris merger is completed, Olympic will assist
us in our continuing efforts to look for opportunities to expand our reach
in the interactive computer gaming and virtual reality fields."
"We are very excited about GameCom/Ferris' future, as evidenced by
our capital infusion," said William E. K. ("Kyle") Hathaway II, manager of
Olympic. "The Company has an exciting story to tell, with excellent
management. We look forward to being long-term participants in the
future of GameCom/Ferris."
The terms of the financing requires Olympic to fund $1,000,000 in three
phases, the first of which will commence next week with the third phase
funded by November 15, 2001. In addition, the convertible debentures
have the right to be converted into common shares of GameCom based
upon the Company's market price at the time of funding for each phase.
The conversion feature does not contain any provisions for a discount to
market price.
About GameCom
GameCom, based in Arlington, Texas, is a fully reporting, publicly
traded Texas corporation. GameCom designs, manufactures, and
assembles `Net GameLink(TM), an interactive Internet gaming concept
featuring network-enabled gaming kiosks. Based in Phoenix, Arizona,
Ferris is the world's largest and fastest growing producer of integrated
hardware and software technology to the immersive virtual reality
industry.
This press release contains certain forward-looking statements.
Forward-looking statements are generally preceded by the words such
as "plans," "expects," "believes," "anticipates," or "intends." Investors
are cautioned that all forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from
current expectations. GameCom urges investors to review in detail the
risks and uncertainties contained within its filings with the Securities
and Exchange Commission.
CONTACT: Magnum Financial Group, LLC
Kari Rundquist, 213-488-0443
kari@magnumfinancial.com