Monday, May 14, 2007 12:27:16 PM
The CEO is being paid IN SHARES!!!
Garr has been up front and is a very savvy businessman; a recap from the open letter of 4/18/2007:
"Our Payday Loan division: There are new license agreements being
negotiated for multiple locations, from previously announced Japanese
clients to smaller domestic multi-store locations. Software is being
revamped, and will be redesigned to handle foreign currencies with ease,
opening up many new international markets.
The Forex division is young. Yet our website is fully functional. We are
waiting for a couple of software modifications (mods) before rolling out
mirror sites, with the next one ready to be released as of this date.
Once completed, we will begin an online and offline marketing programs to
generate traffic and new accounts. There are plans to diversify
vertically, but these need some discussion and additional strategic
analysis. Forex trading is in a very dramatic phase of change. We will be
careful to proceed in the best way possible, after due analysis of
options and negotiations with potential acquisitions or development of
our own resources.
The AEFM division is very new, having just completed all of the requisite
conditions for the acquisition. Jack and I are wasting no time putting
key relationships in place to support the various products and services.
I will be able to provide a better time line and expectations after the
round of meetings this week. What I can say is that Jack can pick up the
phone and get through to anyone we have needed to talk to. This
tremendous amount of credibility and Goodwill is not reflected in our
financials at this stage. The value of being able to skip through the
first 6 months of back and forth, is the difference between a market
leader versus second or third in with a 'me too' product.
Our structured debt settlement services have garnered interest from
several serious potential accounts. At this point, there's nothing to
report in terms of revenue. We are going to redevelop our software
platform to accommodate this type of transaction, and must still develop
rate cards and billing policies. We're a couple of months from beta
testing. Do we feel we have a winner? Emphatically! Timing of new revenue
streams - not likely for another 120 days.
We will continue to provide information, even if there are no revenue
numbers or projections we can comfortably share. Let's remember that when
Xerox invented the photocopier, they considered the market so small and
highly specialized that it was hardly worth the bother. We can project
impressive numbers all we like. It may keep investors excited - but not
for long. As I mentioned in the beginning, we are holding the course. We
feel we are doing the right things to build true shareholder value. I'm
prepared to have my performance judged in the longer term, when we
provide realistic projections that we deliver in the real world.
A final word of thanks to the entire management and support team that
have been putting in long hours to make things happen. I am very proud of
this team of high-quality individuals, who put aside the usual petty
office politics, and work extremely well as a team focused on results."
Shareholders are in a great co.!
Beware of hamster brains!!!
All IMO
Garr has been up front and is a very savvy businessman; a recap from the open letter of 4/18/2007:
"Our Payday Loan division: There are new license agreements being
negotiated for multiple locations, from previously announced Japanese
clients to smaller domestic multi-store locations. Software is being
revamped, and will be redesigned to handle foreign currencies with ease,
opening up many new international markets.
The Forex division is young. Yet our website is fully functional. We are
waiting for a couple of software modifications (mods) before rolling out
mirror sites, with the next one ready to be released as of this date.
Once completed, we will begin an online and offline marketing programs to
generate traffic and new accounts. There are plans to diversify
vertically, but these need some discussion and additional strategic
analysis. Forex trading is in a very dramatic phase of change. We will be
careful to proceed in the best way possible, after due analysis of
options and negotiations with potential acquisitions or development of
our own resources.
The AEFM division is very new, having just completed all of the requisite
conditions for the acquisition. Jack and I are wasting no time putting
key relationships in place to support the various products and services.
I will be able to provide a better time line and expectations after the
round of meetings this week. What I can say is that Jack can pick up the
phone and get through to anyone we have needed to talk to. This
tremendous amount of credibility and Goodwill is not reflected in our
financials at this stage. The value of being able to skip through the
first 6 months of back and forth, is the difference between a market
leader versus second or third in with a 'me too' product.
Our structured debt settlement services have garnered interest from
several serious potential accounts. At this point, there's nothing to
report in terms of revenue. We are going to redevelop our software
platform to accommodate this type of transaction, and must still develop
rate cards and billing policies. We're a couple of months from beta
testing. Do we feel we have a winner? Emphatically! Timing of new revenue
streams - not likely for another 120 days.
We will continue to provide information, even if there are no revenue
numbers or projections we can comfortably share. Let's remember that when
Xerox invented the photocopier, they considered the market so small and
highly specialized that it was hardly worth the bother. We can project
impressive numbers all we like. It may keep investors excited - but not
for long. As I mentioned in the beginning, we are holding the course. We
feel we are doing the right things to build true shareholder value. I'm
prepared to have my performance judged in the longer term, when we
provide realistic projections that we deliver in the real world.
A final word of thanks to the entire management and support team that
have been putting in long hours to make things happen. I am very proud of
this team of high-quality individuals, who put aside the usual petty
office politics, and work extremely well as a team focused on results."
Shareholders are in a great co.!
Beware of hamster brains!!!
All IMO
Not a buy or sell recommendation; everything is IMO.
Go Rutgers Scarlet Knights! RU! <:))))><<
