Letter from Evans:A Note to our Investors,
Recently, a number of you have reached out to me, expressing concerns that we have been noticeably quiet over the past few months.
The tone of these letters has expressed concern, fear, and worry. These letters also seem to demonstrate that the excessive negative chatter of the chat boards is, once again, weighing heavy on them. It seems to be an interesting cycle that repeats itself every 3 or 4 months.
The business is doing fine. In fact, we are doing more than fine, we are doing excellent.
The quieter period over the last few months was somewhat intentional. The investment bankers, institutional investors, and market analysts all pause for the summer months and every one of them advised us that news during this time gets little attention. Those that excessively spend on over-hyped marketing during this time are wasting their investors’ money, and my commitment to our investors is to spend judiciously, not irrationally like some competitors might do. When it comes to marketing, sometimes more is not necessarily better.
We have our upcoming earnings announcement on October 19th. I cannot share the results of that announcement at this time, but I am confident that the investors in Xtract One will be pleased to see that we are continuing the trajectory previously discussed in prior earnings announcements.
I have been wanting to hold another investor fireside chat, and plan to do so timed with some business announcements so that those can be discussed in detail during that chat.
I am also cautious about what we say and when. It is clear that our innovative approach to the industry, the thought leadership, the roadmap ideas, and even my own words used in interviews are being mimicked by competitors. The saying goes that “imitation is the finest form of flattery”, but not in this situation where our original ideas are being used against us.
The past few months have been very very busy, and highly productive. Locations like Radio City, MSG, and The Sphere going live. In the prior months we have installed new schools, hospitals, and arenas, converting bookings to revenue. We have executed pilots at a pace of about 2 per week with sports and other organizations. The business is growing, we are managing our Opex costs and now that the summer is over, we will be ramping our market communications, starting with last weeks Sidoti conference to bring our continued success to the market. When we are allowed due to NDA’s to discuss news, we will.
Overall, we are doing very well, and I encourage all quality investors to ignore the arm-chair quarterbacks on the chat boards, and focus on the facts – the business performance metrics and critical milestones achieved, as will be discussed during our earnings calls.
It’s a good time to be an investor in Xtract One. Our stock price is down, our business is growing, which just means that this is a good time to buy, which I plan to do once my blackout period is past.
Peter
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