Is this what you wanted Jimmy..........Dear Fellow Stock Holders:
There are many reasons why we decided to chose Singapore as our Head office (or perhaps our Regional Office if things changed later). The Government welcomes foreign corporations to set up Bio-tech companies. There are numerous programs offered by the Government. For instance the Government will provide millions of dollars for Research and Development, tax holidays for many years and numerous other programs. We intend to open an office in the Science Park in Singapore where we will make the vaccine for osteo arthritis. We will also make the vaccine for pigs. I have already provided you with some information on this.
eFotoXpress itself will continue to market the medical products in Asia. Singapore is the ideal location especially when we are serving countries like the Philippines, Thailand, Malaysia and Hong kong. We will be able to provide support to our vendors and clients within 5 hours when called. As a financial center, Singapore is second to none. We do not have capital gain taxes and we do not have monetary restrictions. One can walk into a bank and withdraw millions of dollars without ever having to worry about completing Treasury Forms. We can send remittances irrespective of the amount to anyone we wish. The Singapore Government is a great supporter of entrepreneurship. They have one of the best infrastructure for business. Every one has predicted double digit growth in Asia in the coming years. I think we will be making a bad decision if we do not ride with the wave.
We have solicited Goldman Sacs in Singapore to participate in our program and having a big name like Goldman Sac is definitely a plus. We have not forgotten about the US market. As soon as we received funds we will invest several millions to building up strong marketing teams. We will spend some money in advertisement so that our product will be known in the medical industry. The United States is still a major market for the DCM Systems. We will continue to exist here in Fremont, California. We will also bring our pharmaceutical product to the US.
In Singapore we will hire top notch sales executives who will travel around the world building up markets for all our products. We intend to continue to pentetrate the European market and also into Australia and New Zealand.
The funding for eFotoXpress should be in place before the end of this month. The Registration of the New Company in Singapore can be completed before the end of February. The merger of all the three entities should be completed by the end of March. Share certificates for the new company will be issued following the completion of the merger. I will be spending most of my time in Asia this year to oversee this program and if you need to contact me the best way is by e-mail. I need all your blessings and say some prayers for the company.
While all these are going on we will continue to aggressively sell the DCM systems and hopefully the vaccines and the pig farming product will also help generate huge revenue for the company. These are the time lines set up by the partners and are subject to changes. If there are major changes I will notify you.
Thank you and we should be on our way to a successful 2008.
Regards
Edward Tan
CEO
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