A New Startegy Is Needed For This Company:
This company, since its inception has not done what most OTC companies do, issue shares and more of them. However, they have stumbled upon an excellent market opportunity by accident and trying to take advantage of that situation. Kudos to Pandey and co. Now time to make it a serious company and fast. To make it a serious company, it needs a multi prone approach and serious professionals and serious investors. Professionals can find the truth about any company Here are some suggestions:
1) First clean up the website as it's the corporate face in today's digital age. No need to mention all those subsidiaries that are meaningless. That looks like the resume of a high schoold dropout where the individual mentions everything from working at McDonalds in the experience section. Just mention about your primary product and all the details.
2) Hire a professional CFO, it seems you don't have the right people to advise you on financing. You have to pay big $$ for that but its worth it.
3) Finances: You have to clean up the finance once and for all. Do the math and be realstic on how much cash you need until able to cover the operating expense on your own. Once you have that number, find the money preferably via debt vehicle. If you have to, then issue as many shares but get it done at once and make it clear to the stret that you don't need any more financing.
4) The private placement done so far are sad to say the least. The discounts offered shows that you are being taken advantage of becuse of lack of experienced professionals advising you. 25-40% discount is standard and plenty of funds available in this market. Put a restriction on conversion. PLRS was able to issue 700 Mil shares and put a restriction and you can do it too. That stcok has gone up from 0.02 to 0.13 after that placement and no product r revenue. Get the righ people to advise you. Getting $5-$10M is a piece of cake on 40% discount and a restriction on conversion.
5) Make sure al existing investors without restrcition have sold all shares that want to sell.
6) Once all the money in the bank, do a share restructring. A R/S is must to get noticed by the street and taken seriously. Go for 1:100 R/S, that will reduce the share count and move the pps to dollar range.
7) Move to NASDAQ and you are all set.
Other Items:
1) Earlier you had no choice, that is past, Disassociate from crooks.
2) Hire professional legal, accounting and PR firms like KPMG, Ernst and Young, Wilson Sonsini Goodich, MOFO to name a few. They will all work with equity participation
3) Hire professional staffs and renowned people to the board.
4) A good idea to hire a CEO and Pandey can relax.
5) You need serious political clout in Nigeria to get anything done. Kickbacks and bribes are a part of the game there. You need to have local people to take care of that. It seems that is being done well.
All this can be done in relative small time frame as you have a real business in hand.
Opportunity don't last forever. You will be taken seriously by the street and become a big company.
all the best.
Experience is the most powerful tool in the world !
