Dear Walter,
Thank you for your e-mail. It is always a pleasure to hear from our shareholders, and I assure you that the company is very interested in getting your comments and feedback.
Firstly, I would like to apologize for not responding to your previous e-mails. In order to ensure that we respond in a timely manner, kindly send your e-mails directly to me so that I can make sure we respond quickly.
Secondly, in response to your comments in the e-mail below, the company is always seeking effective ways of improving shareholder value. However, considering the size of the company and the current economic climate, we are concentrating our efforts and resources on conserving cash, to match costs with revenues, on intensifying sales efforts, and on diversifying our portfolio.
Consequently, in an effort to control expenses diligently, we have determined that having quarterly calls is not the best use of resources for a company of our current size. As part of an additional effort to rationalize expenses, we have focused most of our resources on expenses that directly benefit the operations, including process improvement and production-related investments. However, we are aware of our responsibilities as a public company and we will always ensure that we comply with SEC rules in regards to timely communication with shareholders on material news.
Furthermore, we really appreciate all the support you’ve given us throughout the years. I want to stress that we are working hard to build our company, while always striving to maximize value to our shareholders. We believe that, in this tough economic environment, concentrating our efforts on building up a solid company, while controlling the expenses tied to being a public company, is the most efficient way of increasing shareholders’ value.
Sherine Attia, L.L.L. & L.L.B.
In-House Legal Counsel
Avensys Corporation
400 Montpellier Blvd.
Montreal, Quebec
Canada H4N
