DonPat...Turns out you were right on the money!!!
Because of your question, there were many, many talking points that were derived during the Q & A!!!
I don't want to get ahead of myself so I'll start from the beginning.
This years shareholders meeting was much more organized and structured compared to last year. (Last year, Raj gave a simple powerpoint presentation based on goals.)
This year, the meeting was divided up into five catagories and what goals were achieved. Here is a breakdown:
1) Company Overview - Presented by Raj
2) Administration/Finance - Presented by Gene Sharer, President
3) Sales and Marketing - Presented by David McCartney, V.P. Sales
4) Engineering and Production - Presented by V.V. Sundaram, President, Airbee - India
5) Q & A - BY ALL OF THE ABOVE. (BTW, the Q & A was wide open and had NO TIME LIMIT!!! It was extremely informative.)
I had several questions of my own, but I promised to get the answers to fellow investors first. Here are the answers to your questions...
1) Do we expect any ZigBee products out by Christmas with our software in them? ANSWER...YES.
2) Do you have any plans to reduce the number of outstanding shares? ANSWER...NO.
3) From donpat: What I had in mind was ABEW's thrust into the non-zigbee wireless stuff. I don't expect them to abandon ZigBee...far from it - what I want to know is how advanced they are in this new avant garde field and where they think it is leading and when? ANSWER...See below.
Airbee Wireless now has approximately 40 engineers with multiple PhD's and MSEE's that are now highly skilled in various forms of low power RF mesh software. These software teams have now completed several different types of projects that involve ZigBee and OTHER low power projects. This type of knowledge is NOT taught in schools and can only be learned in an RF evironment that was based on numerous projects from many of our clients. According to David McCartney, he doesn't know of ANY OTHER software company that has accomplished - or can be duplicated - what Airbee has done over the past 3 - 4 years.
Because of the huge demand for software engineers in India - especially TALENTED engineers - many companies are gobbling them up right and left. (As an example, Cisco just hired the entire graduating class of engineers from a prominent university to help fill the void of one of their facilities.) Many, many more companies plan on moving their software facilities to India to take advantage of the highly skilled and low wage engineers...but the supply and demand ratio is taking its toll. However, because of Airbee's reputation as a well-established entity, they are able to attract (AND KEEP!!!) the core of talented engineers within their company. Apparently, in India, if you are well-established within the community, you become well-respected amongst the people as well. My point is, that it would be very hard for a start-up company to open it's doors in India and try to duplicte what took Airbee to accomplish in 3 - 4 years. (Hiring the right talent, dividing them up into software teams, training them with an RF environment on real-world projects WITHOUT losing those same engineers to another firm!!!)
The bottom line is that Airbee has built a world-class technical team that is well-respected and very hard to duplicate. They are highly skilled in numerous forms of low power software using different frequencies. Airbee is MUCH MORE than just ZigBee!!!
Now, on to my questions...
1) What is the status of our application for the OTCBB?
ANSWER...We are currently waiting to hear from the SEC regarding what we think is the last set of questions. We hope to have some kind of response by tomorrow!!!
2) Where do we stand with our financing?
ANSWER...We have completed the bridge and have now signed with a well-established institutional bank. (No other details can be discussed at this time.) BTW, Raj said that Cornell has made several offers for a SEDA to be set up. The last offer was for $20 million. However, Raj said that he didn't feel it was in the best interest of the company or its shareholders to use their form of financing. (I wonder how many other companies would have taken that offer??? Hmmmmmmmmm)
I'm sure that I'm missing more details, but I'm too tired to type anymore.
Good night all.
abew4me
