NEWS: Shareholder email: Info on Listing
Dear Fellow Stock Holders:
In the past several days after I returned from my overseas trip, I have been swamped with inquiries about our intention to list the company. I thought in the best interest I will let you all know the procedures and what I have to do to comply with listing.
As much as I want to delay the listing, I am under tremendous pressure from the so-many stock holders who want to get this listed immediately. I have given you my undertaking that I will get shall this listed no later than Sep 30th 2007. At least the best thing going for us is that we have a very viable product. It will take some time to sell as much as we want but preliminary sales have been very encouraging. In my last e-mail I have briefed you on what I have accomplished so far. You may ask why we set Sep 30 as our dead line.
Public audit is now very stringent. The auditors are very careful with who and what they audit. When the audit is completed we will send it to our SEC Attorney, The Law office of Robert Brandt in New York, to write his Management Analysis and to prepare the filing-a form we called the SB10. We do not need an investment banker at this time since ours is purely applying for a registration statement. We had a registration statement before when we were trading. Now we are just seeking for a re-registration. From my past experience the SEC will start the process by asking numerous questions about the number of shares issued, about the business and almost about anything you can imagine. I have not known of any process that is quicker than 2 months. We intend to file Registration Statement sometime in June. Assuming that the SEC takes 3 months we would be right on listing sometime on Sep 30, 2007. This is an area that we have no control. We cannot be denied listing. Once the SEC grants us our registration statement, we will request our market makers to commence trading. We do so by filing to the NASD a form called 15c211. We will initially trade on the OTCBB (since we did not proceed with an IPO). For 90 days if our stock can hold a value not less than $4.00 we can then file for a listing on NASDAQ. How do we get $4.00? This is where I have always mentioned that we need to generate revenue. The longer the time we have the better our chances to generate enough of revenue to justify a $4 stock. So rushing to get listed is really not an option. We all don’t want to have a penny stock. In 1997 when we were trading hype took the stock to $12 a share. We don’t want this to happen. We want to give our investors great fundamental values.
In the next three months in between traveling and trying to sell more equipment to realize revenue, I have to work with the auditors, the market makers and most important of all to appoint a security firm to promote, write and retail our stocks. If I am able to do this, I want many such investment brokers to cover our stock. I have several years experience in these areas and I am confident I can make tremendous contribution. At the same time I need to go out on road shows to tell people about our company. My task is to generate some serious revenues so that we bring about those magic words – EPS. EPS stands for Earnings per share. If we can, I repeat if we can, generate $25 million in revenue this year, we will be looking very good. We would make $20 million and with 50 million shares we will have an EPS of 40 cents per share. This industry typically will produce 10 to 40 times earnings per share. Therefore we may be getting $4 in value to as much as $16.00 per share. These numbers are very subjective and please don’t say that I am promising you these numbers. I will work my life out to get these numbers i.e. $25 million in revenue this year. If the sales in the United States are not forthcoming then I will go to where the money is – Philippines and China. So far we have sold $900,000 of the DCM ROBOT both local and overseas. Last year we generated about $800,000 in revenue. So far our revenue to date is about $1.7 million. We have 20 more prospective customers who are waiting for logistic clearance to test our equipment. This would turn into another $1.5 million in revenue when sold. We are long ways to $25 million. Our average ticket for a product is about $150,000. So to get to $25 million we need to sell 166 systems anywhere. I intend to achieve this by appointing distributors worldwide. I have appointed distributors for Malaysia, Philippines, Hong Kong and now two more in the US. Next month I will continue lobbying in China. China imports about 20 CT Scans a month. If I can convinced them that the DCM ROBOT is definitely something they need with their CT Scans, then it makes my job a lot easier.
I have shared my thoughts with you and I hope you do not point fingers at me later that I have made lots of empty promises. I will work my life out to achieve these numbers. I don’t think it is difficult and I am confident I can achieve these numbers. We have launched several products in the past with not much success but this one appears to be a home run.
For those who own stocks in AMUT, they will be automatically converted to eFotoXpress stocks. We already have a QUSIP number for the stock. The QUSIP is a number when brokers identify our stocks when we trade. If you hold physical stocks you may send them directly to the transfer agent to change them into eFotoXpress stocks. The transfer agent charge $25 per certificate. The name and address of the transfer agent is located on the front page of the certificate. If your shares were bought through a broker you will not have to do anything. Your shares will trade once we start trading.
If I have missed anything and if there is anyone of you who can contribute to make us more successful, please do not hesitate to contact me.
Once again, I remain
Yours faithfully
Edward Tan, CEO
"To Give Anything Less Than Your Best, Is To Sacrifice the Gift." - Steve Prefontaine
