will put Jerry Woods in jail, **Liers are thieves
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https://doeren.com/tax-reform-net-operating-loss-deduction/
IRS Unprepared to Answer New Tax Law Questions
02.27.18
National Taxpayer Advocate Nina Olson shares the Internal Revenue Service is not prepared to answer taxpayer questions about the new law. This comes on the heels of the IRS already witnessing taxpayer confusion about withholding changes, the deductib...
Companies may no longer carry back NOLs to receive refunds for taxes paid
Section 3302 of the Tax Cuts and Jobs Act of 2017 eliminates entirely the carry back of non-farming related NOLs. Companies may no longer carry back NOLs to receive refunds for taxes paid in the previous two years. This will hamper the restructuring efforts of many companies that may no longer rely on tax refunds generated from the NOL carryback.
https://www.thompsoncoburn.com/insights/blogs/credit-report/post/2017-12-27/new-tax-law-eliminates-nol-carry-backs
In addition to the FDIC and the FBI, the Securities and Exchange Commission is also investigating the bank's meltdown. A federal grand jury also has been probing the bank's failure.
Down 28% yesterday ..... Look like Yani has moved VAPOR off shore showing HIS BIT MINING to his home country so you cant see what is going on as he cleans out your stock account.
Companies may no longer carry back NOLs to receive refunds for taxes paid
Section 3302 of the Tax Cuts and Jobs Act of 2017 eliminates entirely the carry back of non-farming related NOLs. Companies may no longer carry back NOLs to receive refunds for taxes paid in the previous two years. This will hamper the restructuring efforts of many companies that may no longer rely on tax refunds generated from the NOL carryback.
https://www.thompsoncoburn.com/insights/blogs/credit-report/post/2017-12-27/new-tax-law-eliminates-nol-carry-backs
NEW NOL TAX LIMITS
http://rsmus.com/what-we-do/services/tax/washington-national-tax/net-operating-losses-after-the-tax-cuts-and-jobs-act.html
Net operating losses (NOLs) after the Tax Cuts and Jobs Act
Understanding the limitation on future use and carryback of NOLs
TAX ALERT | January 02, 2018
The newly enacted Tax Cuts and Jobs Acts (the “Act”) provides sweeping changes to corporate tax law, including major changes to the utilization of net operating losses (NOLs) for corporate taxpayers. For NOLs, the carryover and carryback rules change and a new limitation on NOL utilization is added.
Under prior section 172, NOLs were generally eligible for a two year carryback and twenty year carryforward. Further, NOL carryovers and carrybacks could fully offset taxable income of the taxpayer if not otherwise limited under the Internal Revenue Code (e.g., section 382 limitations). Both of those rules have now changed. Application of these changes may differ from what was expected based upon the plain language of the amended statute.
Carryover and carryback provisions
The amendments to section 172 disallow the carryback of NOLs but allow for the indefinite carryforward of those NOLs. Pursuant to section 172(e)(2) of the statute, the amended carryback and carryover rules apply to any NOL arising in a taxable year ending after Dec. 31, 2017.
The disallowance of NOL carrybacks is not surprising and had been a part of both the House and Senate plans. Its effective date may be surprising, however, particularly for fiscal year corporations projecting a current NOL in a tax year ending after Dec.31, 2017. For example, under a plain reading of the statute, a corporate taxpayer projecting an NOL for a fiscal year ending Mar. 31, 2018 appears subject to the NOL carryback disallowance because the tax year ends after Dec. 31, 2017.
Initially, the new NOL carryback rule effective date may appear confusing for a few reasons. First, there are two separate effective date provisions for the new NOL rules (see separate effective date for NOL limitation below). Having two effective dates for such closely related subject matter is somewhat unusual. Second, the effective date provisions of the bill originally passed by the House of Representatives were different than the enacted effective dates. Third, the Act’s legislative history contains an inaccurate description of the effective dates in the bill originally passed by the Senate. Any confusion should be dispelled by the Act’s clear effective date, which plainly states that the law is effective for NOLs arising in tax years ending after Dec. 31, 2017. Barring a technical correction, if in fact a correction is appropriate, corporate taxpayers should follow the statute as enacted.
NOL income limitation
In addition to the carryover and carryback changes, the Act also introduces a limitation on the amount of NOLs that a corporation may deduct in a single tax year under section 172(a) equal to the lesser of the available NOL carryover or 80 percent of a taxpayer’s pre-NOL deduction taxable income (the “80-percent limitation”). Interestingly, this limitation applies only to losses arising in tax years that begin after Dec. 31, 2017 based upon section 172(e)(1) of the amended statute. As a result, taxpayers with historic NOLs (or fiscal year taxpayers projecting a current NOL) may see a silver lining around the cloud of this limitation, because for NOLs generated in tax years ending before Jan. 1, 2018, the historic rules appear applicable.
Let us not forget........This could take years.
Jeffrey Sternklar, a Boston attorney representing a committee of the company's unsecured creditors, expressed concern that money was being wasted on "expensive professionals" to pursue a strategy that faced "substantial challenges to getting it done."
Sternklar described it as "a somewhat very speculative effort to overcome the substantial regulatory and financial hurdles."
In addition to the FDIC and the FBI, the Securities and Exchange Commission is also investigating the bank's meltdown. A federal grand jury also has been probing the bank's failure.
COULD BE ADDITIONAL MONEYS IN SUING...........
ok, so 340 nols (2016) + 700 nols (2017), but fdic expects to obtain tax refund in CASH , so there is potential tax refund in CASH for the debtor as well?
TAX REFUND... UWB got a $4.4 MM refund and the FDIC has been trying to sue saying it belong to them and is trying to set a president to receive all further TAX REFUNDS on BKs
SEE Post # of 1376
iPrelude Wednesday, 03/21/18 03:45:26 PM
Re: LGL8054 post# 1363 0
Post # of 1376
If we had access to other Bankruptcy Filings we could verify this, but in gross numbers and from memory
I believe the debtor has, assets to distribute:
a)cash : 6 million (lets say $4 million after all this mess is set and done)
b)1 Billion in different tax assets (of which $700 millions is NOL but $300 Million is a NET TAX advantage, in some cases a cash (tax) refund)
c)Assets to be discovered down the road (coz debtor didnt have Access to its records/filings when filed for bankruptcy) Unknown, but I believe more than Zero and probably a wild/large card here
d)Trusts, bankruptcy remote assets? Unknown
Under current tax reform nols go at 21%?? but real cash value at a discount of 50% is 10,5%?? you cannot sell nols, you can use them
so nols = $73,5 million in pure cash
tax refund + net tax advantages (of 300 million)?? this is worth a lot of money
JMHO
"Assets to be discovered down the road"....you may be right,
The 2016 Auditor claimed the NOL was $340 mm
Unless the holding co. gets relief in BK, the CASH will go to the claimants first and I don't see enough Moneys to satisfy the $100,000,000 in DEBT!
UWB is in CH#7 and the IRS said said the NOL is a Maximum of 35% I think a loss is a loss.
They won't sacrifice the NOL' even if they convert to a #7 no sacrifice, it just the insiders have more protection and once they go CH#7 nobody can go after assets that may belong to the shareholders when the BK is final.
I think but not sure if they must go CH #7 before the insurance kick in on the officers and Directors for addition dollars for the pot.
So NBC could sell the NOL value of $340 Million and settle the estate, Or find a Lender to loan money to to infuse the holding company, so they can locate a like asset called a Bank to go in business. we also need to be aware that there is a time limit on using any TAX ASSET
Guys.... What is the difference between selling a NOL at 35% of the value and a Workout at 35% in business of income earned, is it the tax bracket?
This guy and GUY have an agenda to conspiring with the FDIC and FC!
SHOW us your proof you are the one that reported the 800K shares in the first place and now we want to see proof of every thing.
As I do the math, the numbers don't work. If you take 200,000 shares of FC stock times $150 per share at the time, gives you $30mill and the claims had $38mill coming. So your Bucket don't hold water!
Frankie MENTAL ATTITUDE was at the time that he committed 800,000 of FC shares to close the takeover of UWB Bank in **collusion with the OTC, OCC, FDIC, UNDER COLOR OF LAW and use the 800,000 shares of FC stock to pay off UWB.
**secret or illegal cooperation or conspiracy, especially in order to cheat or deceive others.
"A FC bank and Government agency were working in collusion to deprive a privet UWBKQ BANK.
Law
** illegal cooperation or conspiracy, especially between ostensible opponents in a lawsuit.
** ‘have a secret agreement’
** colluding, come to a secret understanding for a harmful purpose; conspire.
**FC colluding with FDIC to give FC an entrance into Colorado via the takeover of UNITED WESTERN BANK in Denver Colorado.
.
(b) Class 2 – General Unsecured Claims.
Each holder of an Allowed General Unsecured Claim shall receive on the Plan Distribution
Date, in satisfaction of its Allowed General Unsecured Claim, Cash in an amount equal to such
holder’s Pro Rata Share of the Litigation and Distribution Trust.
Do we have any idea to what the value is of Class 2 – General Unsecured Claims? $______________? Thanks
.
Just more of the same! Nothing of value.
03/14/2018 Open Document [10542711] Calendar notice sent to counsel. Arguments to be held on 05/15/2018 at 9:00 a.m. in Courtroom II, of the Byron White United States Courthouse, Denver, CO.
Please explain where the money will come from, are they going to borrow to go back in business, it is my understanding that the FDIC took all of the liquid assets. If so what business will they go into?
The way I see it is, ... There is not any [NO ] money until the NOL is sold and the NOL can be sold for up to 35% by IRS RULES ..... Total of about $350,000,000
I don't know of any others moneys at this time!
I agree, when UWB filed to reorg and after a few months change it to a full BK #7, They will still have to pay up to $53 Million for unsecured claimants as long as there is money to pay and then the shareholders may be paid.
NBC looks like they may have a NOL about 1 Billion and after the unsecured claimants get paid approx 100 Million then there may be approx $900,000,000 less cost for the shareholders.....But watch out for the Lawyers looking for a free lunch, they all follow the money.
That filling was from
Dec 20, 2017 - 5:45 pm
And the NBC bank is still $100,000,000 in the RED today.
Liabilities: $50,000,001 to $100 million
A LETTER FROM THE CHAIRMAN
https://ih.advfn.com/p.php?pid=nmona&article=76925731
Frank B. Holding, Jr.:
Dear Shareholder
Thanks to a 2017 characterized by progress and strong, steady growth, First Citizens’ view of the future is one of abundant opportunity. We’re focused on expanding our markets, improving our product and service offerings with our customers in mind and growing the long-term value of our company.
At the end of 2017, our financial position remained strong. Net income for 2017 increased approximately 46 percent over 2016 due to continued quality loan growth, improved yields on earning assets and strong noninterest income growth. Originated loan growth of 7 percent and deposit growth of 4 percent continued to strengthen our balance sheet. Our sustained success led to an increase of approximately 17 percent in our quarterly dividend during the fourth quarter of 2017.
In 2017, we acquired through agreements with the FDIC the assets and liabilities of Guaranty Bank of Milwaukee, Wisconsin, and Harvest Community Bank of Pennsville, New Jersey. We also completed three operational conversions of previously acquired banks. The Guaranty Bank transaction was one of the largest in our history, with branches in several states including Wisconsin and Georgia.
In December, we entered into a merger agreement to acquire HomeBancorp Inc. and its subsidiary, HomeBanc, headquartered in Tampa, Florida. Subject to regulatory and shareholder approvals, the anticipated second-quarter transaction will help us fill in our footprint in Florida and expand into the Tampa and Orlando markets.
As we continue to grow and concentrate on expanding relationships with prospects and customers, we’re adapting how we engage with them to match their changing behaviors and needs – such as taking advantage of technology:
• We now offer robust online and mobile banking capabilities for companies of any size with our recent launch of First Citizens Digital Banking.
• To help protect customers against fraud, we introduced real-time text and email alerts to debit cardholders. Credit card alerts are next in 2018.
• Inside our branches, we’re using existing technology in different ways and exploring new options to improve efficiencies and enhance the customer experience.
• For the roughly 30 percent of visitors who use a mobile device to access our website, firstcitizens.com is now mobile responsive for an improved experience.
• In 2017, we launched a social media “story arc” content strategy, creating financial narratives to engage First Citizens’ Facebook and Twitter followers. Posts related to graduations, home renovation and more have resulted in significant follow growth and engagement lift.
• We recently launched the First Citizens Home Buying Assistant for use with Amazon Echo ™ devices.* The helpful voice-activated assistant answers frequently asked questions about every step of the home-buying process while promoting the First Citizens brand.
*Amazon, Echo and all related logos are trademarks of Amazon.com, Inc. or its affiliates. Continued on back
Chairman’s Letter, continued
We continually work to make banking with First Citizens easier and better for our customers. Along those lines, in 2017 we implemented numerous process improvements and introduced new products and services. We continued to focus on integration and partnership between our wealth and branch sales teams, expanded the wealth products and services available through our branches and provided specialized wealth training to our associates. In addition, we introduced a high-benefit checking account option to reward customers who consolidate their deposit relationship and investments with us. The new Premier Executive Checking account fills the gap between our Prestige checking account and our private banking offering.
The First Citizens footprint
While customers remain at the center of our attention, we also know how important it is to be a good corporate citizen throughout the communities we serve. In 2017, First Citizens held several major events to build awareness of and raise funds for Teen Cancer America. TCA is our main philanthropy and partners with hospitals to develop teen-friendly spaces and specialized care for young people battling cancer.
Efforts to support TCA in our Southeast markets are beginning to pay off. Bon Secours St. Francis Health System in Greenville, S.C., announced last year that it will open a new inpatient cancer unit with the help of a significant donation from First Citizens, and we’re expecting more news to share soon.
Before closing, I’d like to recognize and thank Lucius S. Jones for his many years of service to the corporate board, from which he retired last year.
Better service, better products, better advice, better technology and the best bankers in the business – we recognize that our work makes a difference in the lives of the people, businesses and communities we serve. We’ve just introduced a new statement of purpose – a rallying cry for our associates as they strive each and every day to fulfill our Forever First promise to be the very best bank we can for everybody who depends on us.
The statement clearly articulates why we’re here: Better banking that helps people live better lives. We take great pride in the truth of this declaration, and take seriously its inherent responsibilities.
Many thanks for your commitment to First Citizens and our purpose.
Sincerely,
Frank B. Holding, Jr.
March 12, 2018
Member FDIC. Equal Housing Lender LOGO .
Thanks LG
03/14/2018 Open Document [10542711] Calendar notice sent to counsel. Arguments to be held on 05/15/2018 at 9:00 a.m. in Courtroom II, of the Byron White United States Courthouse, Denver, CO. Counsel is required to go to http://www.ca10.uscourts.gov under the argument calendar tab to obtain an important notice regarding calendared cases and required forms.
The calendar acknowledgment form must be completed and filed with the clerk via Electronic Case Filing within 10 days of today's date. [17-1281] [Entered: 03/14/2018 11:16 AM]
03/14/2018 Open Document [10542879] Calendar Acknowledgment Form filed by FDIC. Served on 03/14/2018. Manner of Service: email. [17-1281] JB [Entered: 03/14/2018 03:54 PM]
POSITIVE MENTAL ATTITUDE STILL ON 800,000 FC shares and that where Frankie MENTAL ATTITUDE was at the time and he knew more about his plans back then and now he and every body wants to screw with we UWB shareholders now
pay the PRIORITY claimants is probably what the 200,000 shares was for! Do you remember back then it was only 38,000,000.................
Like we said he wont rebut the 800K shares now he is in the corner!
Do you remember the 800,000 shares of FC or
$150 X 800,000 FC shares = $120,000,000 or $4.08
From your prospective $4.14 X 29.4 UWB shares = $121,716,000
If I remember you said that CASH was not deposited it was a representative cert of 800K shares FC stock.
800,000 shares is still 800,000 shares that now belong to UWB.
I remember is 800,000 shares were for UWB and the share price was about $150......
AT
$150 X 800,000 = $120,000,000 or $4.08
$450 X 800,000 = $360,000,000 or $12.24 per UWB share.
.
The SEC did What????
OR SHOULD WE GO THE LONG WAY?
$600 Million in value was taken from UWB shareholders or $20.40 per share, when we make a recovery of 3 or 4 times that, there still wont be enough satisfaction and all the time that we been tide up!
Do you remember the 800,000 shares of FC or
$150 X 800,000 FC shares = $120,000,000 or $4.08
From your prospective $4.14 X 29.4 UWB shares = $121,716,000
If I remember you said that CASH was not deposited it was a representive cert of 800K shares FC stock.
.
So is that where the $82mm came from that you got the $2.78 that you said we may get?
Frankie gets nothing unless he pays the MAX
Bravatek/AmbiCom JV to unveil field-tested Consumer Optimization Software Product
Bravatek adding Consumer Software products to complement its lineup of current software enterprise products/services
AUSTIN, TX -- March 14, 2018 -- InvestorsHub NewsWire -- Bravatek Solutions, Inc. (OTC Pink: BVTK, "Bravatek" or the "Company") announces that it will distribute through its Joint Venture ("JV") with AmbiCom Holdings, Inc. ("AmbiCom"), a patented, field tested optimization software product for the expansive consumer market.
Dr. Thomas A. Cellucci, Bravatek's Chairman and CEO, commented: "Our Joint Venture now allows us to rapidly not only add products and capabilities into our existing markets, but now to generate new, even larger prospective consumer markets."
AmbiCom has developed a software optimization program that improves the performance of servers and workstations through the automatic evaluation and adjustment of the manufacturers' supplied settings. This patented software application has been certified by Microsoft, IBM, VMware and Citrix in independent evaluations and represents over $12 M in previous product development investment.
We are rapidly building our JV website to sell the cloud based optimization application for consumers. It tunes individual PCs running the Windows operating system. The front end runs a website that users can join, try the software, and then pay for it by their credit card. The website links to a cloud based back end that does the actual tuning of the PC. When the front end sends the request to the backend engine, a token is passed that identifies the individual user. The backend performs its functions, and by the use of specialized APIs, specific performance data is passed back to the front end for display to the customer. Users can compare their performance levels of the pre and post optimized conditions.
Mr. Kevin Cornell, CEO of AmbiCom commented: "We have already field-tested this software with consumers and expect product release within three weeks or less at a very affordable price to consumers. Based on our previous sales results for this type of software, we anticipate achieving at least $ 2 M in sales for 2018. We believe that every consumer has the right to have their PC operating at its peak performance."
Bob what I remember is 800,000 shares were for UWB and the share price was about $150......
AT
$150 X 800,000 = $120,000,000 or $4.08
$450 X 800,000 = $360,000,000 or $12.24 per UWB share
Financials
We had a stellar yr grossing over 1.8 million from nothing last yr
We were up 50 plus percent quarter over quarter and far out paced expectations.
In regards to the 2 million dollar payment that was to buy the remainder of FMS marketing that we did not own.
Alan Baily and I are in negotiations with the Del SOS to reduce the debt owed.
The debt is nowhere near $900 thousand that is a number that they put on all companies until they file. In regards to the share reduction I stated on page 2 that the reduction has been reported with the Colorado SOS and is under Hexagon Holdings. As soon as we get approval the share reduction will be in place. I have also reduced my commission rate to 12.5 percent a 50% reduction so we will have more cash for all the things we need to do
Overall im thrilled with our financials and we are growing very fast signing deals every week.
KL
We are in the process of making our mold which will allow us to reduce our costs by 50%
Each mold can make 150,000 to 200,000 units. I will be travelling back to KL to start production shortly.
Garden City Group
They have 150 units and are selling now. I will be reporting sales at the end of the month.
Penn Group
They have units and are selling now
H Group NY
They have units and are selling now
Gunther Fla
All stores have units and are currently selling.
San Antonio
I am told by my rep Scott Wells that we will be getting an e mail with bid requirements shortly. Nothing ever move fast with Govt.
Municipalities
We are in discussions with a group that sells software and Hardware to all Government agencies both Local and Federal in 21 countries. I will release the name when a contract is signed
Growth of our marketing team..we have engaged two major automotive after market product sales agencies. These agencies sell into multiple channels in the automotive industry including but not limited to internet sales, direct sales to the major auto parts chain stores, direct sales to auto parts distributors, wholesale warehouses and direct sales to automotive dealers. The combined total of new sales representatives is 21 now covering more than 50% of the country.
We are near completion with signing contracts with 2 other sales agencies that will bring another 29 sales representatives that would cover the entire US. In addition we are in negotiations with another two agencies that cover big box retailers such as Target and Best Buy to represent bSafeMobile. We are in discussions with our partners in Great Britain to take over all of western Europe and meet with them in mid March when they come to the US.
bSafeMobile has updated its back office systems (inventory control, accounting, billing, invoicing etc) to handle the expected increase and sales activity generated by these sales agencies.
USW
We will be implementing sale in 2 dealerships in South Fla next week and working out all kinks until we roll out in Fla first.
MIDDLE EAST
Working with Consulting/distribution agent Mr. Graham Bell. Graham has very good relationships with the Auto and technology industry throughout the GULF region including UAE and Saudi Arabia. Just returned from the region last week.
DUBAI TAXI CORP
The main purpose of my trip was to push our current best prospect Dubai Taxi "over the line" into a test mode. From there I (Graham also) can follow up and, subject to a successful test, move towards closure of at least initial unit orders. The objective is to close these initial orders and then ramp up orders over the coming months. Dubai Taxi Corp has 5500 in their fleet. Following the installation the IT guy I was working with Osman was then confident to be able to download the Fleetsafer software to his computer .We have a deal memo on the table.
COLONY TRUCKS- KUWAIT
Had a very long meeting with this company. They have over 1000 trucks and construction machinery in their fleet. Went through all the advantages of Fleetsafer and how this can manage their trucks, Buses, etc as they all travel throughout the Gulf region (not just Kuwait). Jamil Malik and Alvin Lewis are the key guys there and agreed to test the system. Graham will be sending them 2 units now for testing. I will follow up with them in a week to make sure they receieved the units and get them to start a test. Will contact the team in Vancouver again to walk them through it.
MERCEDES TRUCKS/VANS- UAE
Met with Navin Sook their head of Fleet management and Safety/Security features. In addition to just selling/leasing their trucks/Vans he also makes sure to sell them the additional features package which includes many of the already existing Mercedes features such as automatic breaking , tracking , etc. We discussed including the Bsafe/Fleetsafer software as part of their package offering. He said it could not come as part of the Mercedes package as Mercedes only puts their own items in a package. But he said he could potentially "bake" it in as a separate item but included in an overall price. I gave him a unit to test and will follow up with him again in a week.
Al FUTTAIM MOTORS
Had confirmed meeting with the CEO Len Hunt whom Graham and I spent time with at the auto show. 2 hours before the meeting I had call from his office cancelling the meeting but putting me onto their Head of Multi brand services, Omar Edris. Graham will go over and see him with a unit to test. This is another one where we could be sold in the after sales packages. I will follow up with him after he's had a chance to test the unit, give feedback, and provide some proposal options.
WEHBE INSURANCE
I met with Omar Wehbe who runs one of the 3 top Insurance companies in the Gulf Region. We reviewed Bsafe and Fleetsafer, He saw multiple benefits for Insurance companies but also has good relationships with other Fleet and auto companies. He wanted some time to think about how best to use the technology. He said the best thing to would be for me to let him know next time I'm out and he would arrange further meetings/ intros as well as propose what he would do with Bsafe.
OTHER ACTIVITY
Graham and I are also working on:
- Dubai Police (Colonel Al Masri)
- KIA Motors Middle East
- Volkswagen Middle east
- CAREEM Middles East (Uber equivalent)
- Al Tayer Motors
- Juma Al Madjid Group (Hyundai)
- Sheikh Saif's office in Abu Dhabi (Antoine)- potential Master dealership
- SAPTCO Bus company Saudi
- Al Naghi Group (bus/ trucks) Saudi
- Tamimi Transportation- Saudi.
. Graham will go to Saudi first or second week of February and meet them.
We currently have 2 other deal memos on the table and are meeting with other potential clients as well.
UK
Working with Consulting/ distribution agent Mr. Gordon Poots who is based in Belfast, Ireland. He has very good relationships throughout the auto and tech industry in the UK.
He has sent brochures and following up with the companies listed below
- Vendigital automotive technology distributor
- SFU- major Fleet Company- 6000 + cars/vans
- SLOANS- major Fleet company- 8000 + cars, minibuses and Vans
- Addison Lee- Major Fleet company- 12000 Vehicles
- OH Vehicle Conversion company- Upgrading/modernizing classic and contemporary cars through the UK.
TURKEY
Working with a new agent in Turkey Mr. Murat Kortan. He is owner and principle of Kortan Consulting. The company identifies new products and services into the Turkish market primarily in the Insurance, Dealer distributor/Agency business and new technology distribution.
Have had 3 conference calls with him including one this morning. He has all the brochures and is sending them out to his contacts and following up. Next step is to arrange a call this week with S. Berman to review questions and discuss commercial terms for the Turkish market. Turkey is 80 million people and Murat feels this could be taken up by at least 500,000 to 1 million users.
SERBIA
Bsafe technology has been presented to senior government officials who seem interested in potentially legislating the mandatory use of this technology in the country.
In the meantime the Government has made introductions to the top 2 Insurance companies in the country. They are TRIGLAV Insurance Run by Dr. Dragan Markovic and AMS Insurance run by Mr. Dejan Jevtic. Between the 2 companies they provide coverage for 83% of all Fleet, Taxi companies, Buses, and delivery services companies in Serbia. They both have units after testing will follow up in the next 2 to 3 weeks.
BULGARIA
Have recently found a very good consulting agent Mr. Rossen Tzvetkov. Bulgaria is part of the EU and need to comply with the EU regulations for distracted driving. I sent Rossen some units and he is testing now. He feels it is a very good idea and that over time the country will need to comply with these laws. So he is already speaking to some insurance agencies, Fleet companies and the Police to help support the effort. He will get back to me.
Uber
I have had 1 meeting and 1 conference call with them Bsafe will not work for them
Fleetsafer is the play and we have to make adjustments to the software to do what they need done
Our tech team is working on this asap.
Amazon
We will be back on Amazon next month.
Facebook
Fly Has created some new ads for us and we will be rolling them out within 2 weeks with a better understanding of the right targets.
I will be sending ou another update with more activity as soon as I get the answers back from our reps, Including more dealership activity as well as other things we have discussed in Press Releases over the past yr. We will also be discussing all arms of Hexagon.
As you can see we have so much going on and are poised for major growth.We truly are a global company and have come from nothing to all this in less than 2 years. This is only half of whats going on at ONCI/Hexagon. And as I said there is so much more and it will appear in the next update.
$ONCI
On4 Communications, Inc.
info@on4inc.com