~TRBY DD Page... Updated & Revised 02/28/04.......(authored by RIGATONI and TRADER670)
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CONTENTS OF THIS TRBY DD PAGE:
1. COMPANY BACKGROUND AND PRIMARY SOURCE OF REVENUE
2. VIEW VIDEO/NEWS SEGMENTS
3. TIME LINE OF SIGNIFICANT CORPORATE EVENTS
4. REGARDING THE CONVERTIBLE DEBENTURES (TRBY’s FORMER Death Spiral-Type Financing)
5. MAJOR POINTS OF INTEREST TO INVESTORS
6. MISCELLANEOUS POINTS OF INTEREST TO INVESTORS
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[NOTE: We have tried to make this page as objective as possible so that each individual can review and interpret the information as he or she sees fit. However, we encourage TRBY investors (both current and prospective) who may be interested in understanding some more of the background of TRBY from our personal perspectives, please see our post #7754 on the Raging Bull TRBY board.]
COMPANY BACKGROUND AND PRIMARY SOURCE OF REVENUE
Torbay Holdings, Inc (OTCBB: TRBY) is a holding company for late-stage developmental or early-stage commercial companies with opportunities in niche markets. TRBY currently owns two subsidiaries, Designer Appliances Ltd., a [currently] inactive United Kingdom ("UK") company, and Designer Appliances, Inc. (‘DAI’), a Delaware corporation.
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AUTHORIZED SHARES: 100,000,000 shares
OUTSTANDING SHARES: 74,789,155 shares
APPROXIMATE FLOAT: 40,000,000 - 50,000,000 shares
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TRBY has acquired intellectual property rights including UK patent for a computer mouse (known as the Quill Mouse) that is thought to be beneficial to computer mice users with regards to the area of treatment and prevention of repetitive strain injury [RSI].
TRBY sells and markets, via its DIA subsidiary, the Quill Mouse computer mouse and related software. The Company's products are designed to attract a premium price in the upper sectors of their market. Management believes that it has identified several products, including the Quill Mouse, that fall into an under exploited opportunity in the computer market.
In addition to the Quill Mouse itself, the company has introduced number of complimentary and revenue enhancing products:
* Nib click-less software, which performs a high percentage of computer mouse clicks for the users and subject to its effective utilization; and
* The Quill Well Mouse mat.
* As announced on February 25, 2003, the company has launched "Gesture" technology in its "click-less" software product now called Nib-Gestures. It also announces an entry into the Macintosh Software market with the launch of McNib-Gestures
* In addition to the launch the new versions of the NIB software, the NIB click-less software is NOW being offered AS A STAND ALONE PRODUCT as well, “to all mouse users and not only to those who purchase a Quill Mouse, as in the past, so CREATING A SEPARATE SOFTWARE REVENUE STREAM.”
VIEW VIDEO/NEWS SEGMENTS:
- Business Television Commercial: http://www.b-tv.com/i/videos/torbay.rm
- A 60 Second ‘Medical Minute’ Describinng the Quill Mouse: access via the links at the BOTTOM of http:www.quillmouse.com
- ‘The Quill Story’ video segment: access via the links at the BOTTOM of http://www.trby.com
TIME LINE OF SIGNIFICANT CORPORATE EVENTS [NOTE: All TRBY press releases can be found at http://www.trby.com]
- PRIOR TO LATE 2002, the company was a developmental stage entity and no sources of revenue. The company states in its SEC filings that it had focused on organizational activities and research and development of the Company's products and the development of marketing strategies.
- IN LATE 2002, revenue commenced as the company began production and shipment of its Quill Mouse product(s).
- OCTOBER 23, 2002 Torbay Holdings Inc., The Grip-Less Biomechanical Mouse Company, Announces the Availability of Product for Sale At 'www.quillmouse.com'
http://www.trby.com/company/press_releases/2002/press.bv?id=0000000000039
- OCTOBER 23, 2002 Torbay Holdings Inc. The Grip-Less™ Quill™ Biomechanical Mouse Company will be beamed by Satellite as a Video News Released to 750 US News Stations
http://www.trby.com/company/press_releases/2002/press.bv?id=0000000000040
- FEBRUARY 10, 2003 Torbay Holdings Inc To Launch Nib Auto-Click Software for the Quill Mouse Making It the First Grip-Less and Click-Less "Virtually Hands Free" System
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000046
- FEBRUARY 19, 2003 Torbay Holdings Inc. Announces Walgreens.com To Sell the Quill Grip-Less Computer Mouse
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000047
- MARCH 5, 2003 Torbay Holdings Inc: Designer Appliances Web Site Updated with New Products
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000053
- MARCH 13, 2003 Torbay Holdings Inc. Commences Phase I of Medical Reimbursement Program for VHF Mousing System by Making Available Certificates of Medical Necessity
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000054
- APRIL 23, 2003 Torbay Holdings Inc: Designer Appliances Inc Registered as a Vendor under the Government's GSA Section 508 of the Rehabilitation Act
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000068
- APRIL 24, 2003 Torbay Holdings Inc: Traffic to the quillmouse.com Website is Increasing and the Trend is a Doubling from Month to Month
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000069
- MAY 29, 2003 Torbay Holdings Inc: Enters into a Media-Blitz Agreement for TV, Radio and Press Placements, Valued at $1.3M, in Support of Its On-Going Sales Growth
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000077
- JULY 15, 2003 Torbay Holdings Inc Launches Version 2.X of Its Nib Click-Less Software & a 30-Day Trial Version as a Free Download
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000083
- SEPTEMBER 25, 2003 Torbay Holdings Inc: Quill Mouse Website To Offer A Free Trial Version Of Software, Sponsored By The Video Professor
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000089
- SEPTEMBER 26, 2003 Torbay Holdings Inc: Designer Appliances Appoints US Computer Peripheral Suppliers and Ergonomic Specialists in Sweden and Switzerland as Distributors
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000090
- OCTOBER 3, 2003 Torbay Holdings Inc: Designer Appliances Inc Increases Sales & Revenues in Q3 and Anticipates Reporting an Operating Profit for That Subsidiary
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000092
- OCTOBER 22, 2003 Torbay Holdings Inc: Quill Mouse to Get a New Office, New 'Mac' Click-Less Software and New Retail Packaging
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000094
- DECEMBER 24, 2003 Torbay Holdings Inc. Files Summons Against The Company's Debenture Holders
http://www.trby.com/company/press_releases/2003/press.bv?id=0000000000095
- FEBRUARY 17, 2004 Torbay Holdings Inc. Enters into Redemption and Settlement Agreement with Debenture Holders, Withdraws Summons against Debenture Holders
http://www.trby.com/company/press_releases/2004/press.bv?id=0000000000097
- FEBRUARY 18, 2004 Torbay Holdings Inc. Reports an Increase in Activity in International & US Domestic Distributors in 2004
http://www.trby.com/company/press_releases/2004/press.bv?id=0000000000098
- FEBRUARY 25, 2004 Torbay Holdings Inc: Launches 'Gesture' Technology in its Nib Click-Less Software for PC and adds a Macintosh Version called McNib
http://www.trby.com/company/press_releases/2004/press.bv?id=0000000000099
REGARDING THE CONVERTIBLE DEBENTURES (TRBY’s FORMER Death Spiral-Type Financing):
[NOTE: These are important items to be aware of as most believe without question it was the primary reason for the stock’s depressed price during 2003 and early 2004]
The Company HAD PREVIOUSLY entered into two Securities Purchase Agreements for the company’s 12% convertible debentures, one on May 15, 2002 for $500,000 and the second on April 16, 2003 for $250,000.
[NOTE: The ‘death spiral’ characterization of the debentures is derived from the fact the debentures carried terms that allowed the holders to convert into shares of the company’s stock at 50% of the market price (see SEC filings for complete description of terms)]
THE DEATH SPIRAL FINANCING TYPE DEBENTURES WERE REMOVED WITH THE SETTLEMENT DESCRIBED IN THE FEBRUARY 17, 2004 PR (AND THE SUBSEQUENT 8=K FILED FEBRUARY 18, 2004 -
http://www.nasdaq.com//asp/quotes_news.asp?pageName=Company%20News&selected=TRBY&consumer=ND....
MAJOR POINTS OF INTEREST TO INVESTORS
1. Major clients providing repeat business:
“In 2003 we took our message and our products to those most qualified to judge them, the Corporate Ergonomic community, with the result that we now making repeat sales to companies like Intel, Microsoft, Boeing, Walt Disney World Co, to name but a few. Government sales are increasing from organizations like, and for example, The US Postal Service, Los Alamos Laboratories, The Military and The Coast Guard. We have over 99.9% user satisfaction and numerous testimonies that include statements of gratitude.” (see February 18, 2003 press release)
2. Continuing growth in distributors and distributor sales:
The company’s products are currently sold via its web site (and phone 1 877 GO-QUILL). In addition, the company has been signing up product distributors around the world (see the www.quillmouse.com web site) to assist in meeting the growing demand from large corporate and government customers. This distributor base is increasing. (see February 18, 2003 press release)
3. The growth in sales revenue has been very impressive:
*** Recall that the company realizes a gross profit percentage in EXCESS of 80% (83% per the September 30, 2003 10Q)...INCREDIBLE!!! ***
Sales revenue as reported through September 30, 2003
10KSB 12/31/02 $3,553
10QSB 3/31/03 11,701, 229% increase over 2002 total
10QSB 6/30/03 31,926, 173% increase over 2033 Q1
10QSB 9/30/03 54,524, 71% increase over 2003 Q2
Regarding 2003 Q4 actual and 2004 Q1 estimates, per the February 18, 2004 press release, revenue should be flat for 2003 Q4 and UP SIGNIFICANTLY IN 2004 Q1:
“Sales and activity in Q4 supported our confidence in a continued growth trend though the December holiday period did impact distributor order cycles, more especially in Europe, which takes a longer holiday. There was therefore a slight decrease in Q4 sales over the previous quarter, which was immediately compensated for by a strong January, which has continued into February. On the basis of orders received so far and upon the satisfactory conclusion of current prospects, the possibility exists for sales this quarter to break into the 6-figure level. It should be noted that there is no guarantee of this achievement being made at with this time.”
4. First significant RETAIL entrance expected shortly:
The company is currently modifying its packaging to fit the retail market. It is expected that the first significant retail client will be announced late 2004 Q1 or during 2004 Q2. (see October 22, 2003 press release)
[NOTE: There is also a lot of speculation that the company will be signing a major EOM deal with DELL, IBM, or similar MAJOR company. This is speculation only, but very exciting to think about!!!
5. The Quill Mouse and Nib Click-less software have been reviewed a number of times by professionals in the field. The reviews have been extremely positive.
**Make sure you take the time to research the Quill. Check the hits on Google or other search engine…impressive.**
The formal reviews, coming from viable and respected sources, have rated the Quill Mouse and NIB Click-Less Software amongst the highest rankings of peripheral mousing devices. Check these three reviews in particular:
Charles Moore Reviews The Quill-Well Mouse Mat - And The Quill Mouse Revisited
http://www.applelinks.com/pm/more.php?id=57_0_1_0_M [November 7, 2003]
Vertical Mouse Makes Pointing Fun
http://www.extremetech.com/article2/0,3973,1034216,00.asp [April 21, 2003]
Charles Moore Reviews The Quill “Biomechanical” Mouse
http://www.applelinks.com/mooresviews/quill.shtml [November 15, 2002]
5. Read what customers are saying. These testimonials (available on the Quill web site at http://www.quillmouse.com, under the ‘Hall of Pain’ heading) SPEAK VOLUMES about how the product is being accepted by consumers:
"You saved me from some very painful times. It was the physical therapist who recommended the Quill Mouse to my employer while I was undergoing physical therapy for repetitive motion pain. The Quill Mouse was the answer! I am pain free now, with no surgery! My kids bought me one for home use as a Christmas gift. Now I will have a happy pain-free New Year!"
Mrs. Nancy Gilbert
Andover, Kansas
"I have used the Quill Mouse for a week and really find it outstanding. The Quill Mouse is the only mouse I have used that really lets me keep my wrist and hand relaxed while using it."
Stephen M. Perle, D.C., M.S.
Associate Professor of Clinical Sciences
Adjunct Professor of Mechanical Engineering
University of Bridgeport
"I depend on this [Nib Click-less] software to make it through the day. For example, in the first 45 minutes today, I clicked 19 times and the nib clicked 534 times. Pro-rate that to a day and you can see why my hand gave out.
I have now unplugged and retired the regular Microsoft mouse, the Microsoft trackball mouse, the 3M joystick [Renaissance] mouse and the Evoluent mouse. The only mouse I will use from now on is yours. I did order a full system for my home computer too!
You guys are sitting on a marketing marvel and should shake up the industry when word gets out. I will do my part to spread the word.
Thanks for a great product."
Fred Kurtz
Rexnord Industries,
Indianapolis, IN
"I work between 8-10 hours a day on a computer and my mouse hand was getting increasingly sore over the past year. I searched the Web for a solution and found the Quill Mouse. What a difference. Together with the NIB software, the Quill Mouse has nearly eliminated the need to click. I can keep my hand support in one position which really eases the strain I used to experience. I highly recommended the Quill mouse with the NIB software."
Kurt Shaver
Director, Websense
"I have gone through your website and have found that your information is both beneficial and very accurate, which is excellent to see and I look forward to working with you in the future."
Preston Olson, MPT
Prevention Physical Therapy
"Since obtaining the Quill, my posture has improved... it is almost like the mouse forces you to sit up straight. It is very comfortable and glides with ease."
Olivia Artusa
Employee
Town of North Hempstead
MISCELLANEOUS POINTS OF INTEREST TO INVESTORS
1. Corporate web sites:
http://www.torbayholdingsinc.net/ or http://www.trby.com
http://www.quillmouse.com/
All press releases can be accessed via the company’s web site:
http://www.trby.com
2. The Quill Mouse is designed to alleviate stress created by individuals predisposed to acquire repetitive stress injuries (RSI). . .and also assists those who HAVE already been diagnosed with RSI. The Quill is an ergonomically advanced mouse that is an alternative to the standard mouse that works with all PCs and MACs.
3. RSI related articles (i.e., Are Computer-Related Injuries Really a Concern?):
*American Academy of Orthopedic surgeons: Issues on mouse use including wrist rests.
http://www.pl.net/9.3health/precar.htm
*American Journal of Industrial Medicine Volume 41, Issue 4, 2002. 15 Mar 2002 abstracts of a 3 year study on computer users
http://www3.interscience.wiley.com/cgi-bin/abstract/91016561/START
*ABC Australia Mouse the culprit link (April 2003) abstracts of an 18 month study on clicking mice.
http://www.abc.net.au/cgi-bin/common/printfriendly.pl?/science/news/stories/s797354.htm
*BBC News On Line Health Threat From Computer Usage; Jan 28, 2003.
http://news.bbc.co.uk/go/em/fr/-/2/hi/health/2698119.stm
4. Miscellaneous Coverage of "THE QUILL":
Latest Coverage (Torbay products and stock):
Welkommen von Deutchland! Hier ist Internet sites von Deutchland:
http://www.ergotype.nl/nl/producten.htm
http://www.ergotype.nl/nl/ieframeset.htm
English et al:
http://www.applelinks.com/pm/more.php?id=57_0_1_0_M http://www.extremetech.com/article2/0,3973,1034216,00.asp
http://www.applelinks.com/mooresviews/quill.shtml
http://www.idg.net.nz/webhome.nsf/UNID/5F412C8F47416715CC256B5E006F82CD!opendocument
http://www.ergocanada.com/
http://maccentral.macworld.com/news/0202/12.quill.php
http://japan.internet.com/busnews/20030424/7.html
http://www.100shiki.com/index.php?20030423
http://www.ergoweb.com/ergobuyer/categories.cfm?catId=4
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