Repost: Recap from Today's Call
Ok, for those that couldnt watch, heres my condensed take on the call...in no particlular order...
Dr. Ben started by offering up his email address for questions and then clearly stated:
"The purpose of this call is NOT to announce my resignation. I am here for the long term."
Dr Ben is very optimistic that 2008 is going to be a big year for H3 and believes shareholders will benefit and the pps will increase. "Shareholders should value what you have and get more shares if you can. We are on the way up."
HHSS Tampa:
-Revenue in excess of 210 000 in the past 2 months.
-Expect HHSS in Tampa will reach profitability before the 6 month mark.
-Fourth quarter financials to be posted shortly. Greater substance in what will be reported.
-Continue to improve the concept based on customer feedback,
-Four revenue streams: Food and beverage, online gaming, merchandise and recording studio.
-Needs more focus on video gaming side
-This weekend a major event on Mar 8th, co-sponser the Wild Splash concert at the Ford Ampitheatre in Tampa. A direct increase in business at the restaraunt since marketing for this event.
Tremendous interest in the franchise.
Expects the next HHSS to be in Miami Gardens (an existing business). More info next week. On the verge of taking the concept and establishing in other major cities. Must ensure the first store is successful and viable. Projections are to open up several more stores. Hopes to have 15 to 20 HHSS going into 2009. Expects these are the next areas for development :Miami, NYC, Atlanta, Houston, and LA.
Last week was in Seattle to meet with top execs at Microsoft (Mike Fisher, National marketing director,). Will be announcing a major agreement relationship with MS. A relationship beyond using products and logos, a business partnership between H3 and MS. Details and terms to be defined. More info to follow on next weeks call
Dr. Ben made it very clear that there are some internal problems between him and the BOD.
My take on this is; This was the major point of the call. I think he is sending a strong message to the board, that they need to get on board with the recommendations he and his team are making in regards to next steps. Dr. Ben wants H3 to bring on certain people (Ellis, Flemming, ?) and spend money and expand with a long term focus. In my opinion, give the man whatever he wants and let him and his crew take this company to the next level!!!
Announced that we will have another webcast next wednesday at the same time, with more details on the status of the company.
Please add anything I may have missed and please post your own opinions if you have a similar or even a completely different take on the call.
Just my opinion...
