06/23/2006 Transcript of Richard Bendis video part 1
Hi I’m Rich Bendis, president and ceo of tpid u.s. A lot of the shareholders have wondered why I at this stage of my career, take on a new challenge of building a new emerging entrepreneurial business. I believe that tpid is uniquely positioned to be the global leader in anti-counterfeiting based on the foundation that has been built by Jim Mackay, Michael Cimino and the rest of the tpid team over the last two years. What excites me about the opportunity is we are dealing with the largest evolving market in the world, which is China, where we have the greatest challenge in counterfeiting, and we have assembled a world class Chinese operation throughout the country who we think will be able to capture the leading market share in product authentification and anti-counterfeiting of anybody who has attempted to enter this challenging market.
In order to build a global entrepreneurial company, it takes world class leadership. I believe that we have assembled the best team within this industry that will help us achieve that goal of being the leader. First of all we have attracted John Voeller as our chief technology officer. Let’s talk about John Voeller, our chief technology officer who has been recognized as one of the top 100 cio’s, cto’s and cko’s in the United States. John and I have a 25 year working experience, he has been recognized as one of the leading resources in technology and innovation in the world, he has been on loan to the White House and the office of science and technology policy for the past two years, specifically working on the Department of Homeland Security and identifying technologies that can help the U.S. war against terrorism, piracy and anti-counterfeiting. He is a great compliment to the tpid team to take us to the next generation technologies were going to need to maintain our leadership position within this industry.
In addition we have added Fred Young, Fred Young is a multi-talented individual who has most recently worked for the committee of 100, which represents the 136 most influential Asian Americans trying to strengthen the Sino and American relationships in the United States. Fred prior to that worked for the Harvard Business School, working on case studies in China for six years studying some of the most successful Chinese companies including Alibaba dot com, Costco and the Shenzhen Stock Exchange. Also Fred was an entrepreneur in his own right, managing a Hong Kong based technology company for eight years before taking on the assignment with the Harvard Business School.
In addition we have J.T. Kaufenberger, one of the longest term employees of tpid who has spent over seven months in China in the development of our proprietory software technology, our kmack system and is working on enhancing the development of our taggant technology and our scanning technology. As a matter of fact J.T. is over in China this week working with our key vendors, to improve our vendor relationships and making key customer support calls on the initial customers for tpid.
Complimenting our management team also is Richard Miller, our chief marketing officer who has over 25 years of experience in global marketing, public relations and investor relations with multi-national companies. Richard and I have worked together over the last five years in my most recent start up which was Innovation Philadelphia which has become best practices in technology based economic development around the world.
Part 2
One of the reasons I am also excited about tpid is I’m going to get the opportunity to use a lot of the international experience I’ve developed over the last 20 years. I’ve been a consultant to the United Nations, NATO, the European Commission METI and Japan and specifically in China. I’ve worked on intellectual property rights, technology commercialization and how to build entrepreneurial ventures over the last five years with the Chinese Government and the key Ministries of China. Within the last week I have just recently returned from China to visit our tpid Beijing offices. I didn’t know what to expect before going but let me tell ya, I was pleasantly surprised. I’ve seen 70 dedicated, knowledgeable employees working for tpid Beijing who are committed who are committed to making this technology with tpid the national standard in China, and I believe a strong foundation has been built with the additional resources and tools that were going to give them in financing and upgraded technology plus enhanced intellectual property protection. I believe that we are now poised to be the leader within China and that will be our doorstep to the rest of the world. I believe that tpid, not just in the U.S. but also in China and other places around the world is a threshold company. Threshold companies are those defined where they started out entrepreneurly and they are now ready to progress into professionally run organizations with world class resources. I believe that we have most of those resources in Beijing right now, the facilities are first class, our laboratories, were mixing our tagants, and chemicals are first class and while I was there we had a chance to retain the largest intellectual property law firm in China and we are also engaging now one of the big 4 accounting firms who we wish to engage in the next 30 days. In addition I believe there are other professional resources that will compliment the tpid team, where initial introductions have been made and we hope to build strong partnerships with these professional resources and service firms that will be complimentary to our full time staff.
As you know tpid U.S. is only three months old, our fiscal year begins July 1st 2006. I think that is an appropriate time for our fiscal year to begin. Basically that’s going to be the launch of tpid on a global basis and I believe that’s when revenues will begin to flow into the tpid global enterprise. We have two years of work in working with key Ministries, industrial partners, governmental agencies in China all of the fruits of that labor are going to come to fruition within the first quarter of our new fiscal year.
When I joined tpid just three months ago, it was overwhelming. It was hard to comprehend why we had four separate entities. TPID Beijing, tpid U.S. Suretrace and Globe Staff. I now understand James Mackay’s vision that all of these ingredients were necessary to build a differentiated global leader in anti-counterfeiting product authentification. We now have a unique ability to go through a global supply chain from raw material to finished goods and track products anywhere in the world. We can also use this same technology to track people anyplace in the world with the unique proprietory Globe Staff technology.
I look forward to communicating with you, our shareholders and also our key stakeholders on a regular basis as key developments emerge. In the meantime please continue to check on a regular basis our website which is currently under construction at (website) I’d like to thank all the shareholders of tpid and the related affiliates. I think now your patience and perseverance will start to pay dividends in fiscal 07 for all of us.
