Here Is John Howells Speech From Shareholders Meeting.
Thanks Cem!
"As you have seen today, our story is both complex and exciting. It is not
just about a transmission technique or patents or black boxes or timelines for
products. These things are part of it to be sure, but our story is about
something that is not usually associated with the hi tech world. It is about
influence.
As Rich has pointed out, there are physical restrictions in the free flow of
information. The last mile bottleneck is one of them. As we perfect and promote
our solution to that restriction, we will be opening up an affordable means to
deliver new content. The look and feel of how we communicate will change. The
ability for telephone service providers to bundle voice, video and data, and
make it interactive, will change how we are entertained and how we buy and sell
products.
Our technology is a catalyst to that change. Our goal is to influence the
creative process, not to identify and target competitors. Our desire is not to
alter the telecommunications landscape but to enable those within that landscape
to do their jobs better. The end result will be the uninterrupted flow of data,
including full motion, full screen video, for both the home and business.
This is a complex process that enlists the talent of a very diverse pool of
industry contributors. It is a process that will evolve and mature over time. We
are asked, when will this process be completed? We believe the greatest value to
you, our shareholders, will come through influencing that process as it evolves
rather than trying to put timelines on specific tasks.
Most of you here today consider yourselves privileged to be part of what has
begun. You are the visionaries, those with an eye for the art form that is
emerging and with the sense of adventure of a pioneer. You recognize the value
of increasing our global influence and feel a partnership with us as we navigate
the telecommunications maze.
Others of you place a lesser value on that process and are primarily
concerned about the share price. That implies learning specifics about the
process and timelines. As products utilizing our technology are developed and as
bandwidth is freely available, it will no longer be necessary to place greater
emphasis on vision than on specifics. But for today, that vision is necessary to
imagine a high definition television that serves as your TV or your computer
monitor or as the viewing screen for videophone calls, all over a single pair of
telephone wire. Why is vision necessary? Because current bandwidth will not
allow this kind of communications. With the adoption of Cu@OCx you can
share with us as we make that vision a reality.
The day is approaching when we take our story beyond this intimate group.
Many new investors will want to be part of this communication enhancement
technology. New methods of shareholder communication will be implemented and as
products and alliances mature, more specifics will be shared. You will learn
that our contributions are much more than relieving a bottleneck of bandwidth in
the last mile. It has larger economic implications. 95% of the fiber optic
cabling in the long haul sector of the fiber optic network is dark. No one is
using it. Those that own these huge pipelines would like to see the spigot
opened up at the user end. The major telephone companies have been losing market
share to the cable companies for the bundling of voice, video and data. To
compete with bundling, they need to add video. DSL as we know it today cannot do
that.
You will learn about the first telephone company to provide a solution to
that bundling dilemma by using our technology and about the equipment
manufacturer who is first to provide a set top box or DSLAM to that telco using
our technology and about the developer of integrated circuit silicon chip sets
to use our technology that goes inside the set top box that the telco provides
to the end user. You will learn about the studios and TV networks that offer
interactive television and entertainment over telephone wire. You will learn how
your little bulletin board company that has a technology started in a garage,
has gained the credibility to influence that process.
Knowing this, we are confident that you, our shareholders, will score our
progress using the measuring tape of accumulated credibility instead of the
ticker tape.
Today we have given you a glimpse of where we are after the first year of
research. I ask you to preserve that snapshot in your memory and bring it back
with you next year. To best appreciate where we are requires remembering where
we have come from.
New Visual is changing and creating change. Influence. Thanks to each of you
for joining us in this bold venture."
Excel - Greg
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