*New DD/Update/Compiled*
On Nov 09, 2009 the Company entered into Letter of Intent (LOI) to merge with Southeastern Retail Services, Inc., d/b/a "ProRemote Solutions" ("ProRemote Solutions"). ProRemote Solutions, www.proremotesolutions.com, is a manufacturer of innovative, home-based technology solutions for the Home Theatre Industry. The company provides a value proposition of proprietary, single source remote control solutions integrating audio & video media servers along with remote monitoring, security and lighting systems in a single remote control unit. ProRemote also offers stand alone home theater products. ProRemote Solutions is headquartered in Marietta, GA.
The merger provides for the shareholders of ProRemote to receive approximately 75% of the issued and outstanding common stock of QED Connect at closing, which is expected to occur no later than January 8, 2010.
About ProRemote
Business of ProRemote – Products and Services offered
There is a significant gap between high and low end of price/feature matrix for home theater solutions. This leaves the user with the challenge of determining the level of functionality required to enable the user to experience the full capabilities and value of their system. High end solutions are very feature rich but expensive and the low end misses most of the necessary and desired functionality. Furthermore, with high or low end systems, achieving the additional functionality and maximum value usually requires multiple remote controls and technologies.
In the home theater and environment control arena there are no standard codes or platform for programming. Further proliferation of IP controlled devices will only make remote operations increasingly more complex and difficult to integrate.
ProRemote Solutions proprietary software for Home and Office Automation and Video/Audio Servers offers a one stop solution, in a single remote control unit, at an affordable price. Following is a summary of our product categories:
Remote Control
• Low price vs. competition with greater functionality
• Easy to use, install, implement
• Flexible software
• Can be operated from PC, smart-phone, or any web-related device
• Seamless integration between products
• Multi-location, multi-channel controls
Music Server
• Low price vs. competition with greater functionality
• 5 Independent Streams in 5 Zones
• Controllable from any web browser
• Highest Specs- THD .007, SNR 109
Video Server
• Low price vs. competition with greater functionality
• 5 Independent Streams in 5 Zones
• Controllable from any web browser
• Blue-Ray capabilities
Product Distribution Method
ProRemote will target Home Theater dealers to develop a network of authorized reseller and retail outlets. The Company will initially focus on the 3,500 dealers and custom integrators who are members of CEDIA. CEDIA is an international trade association of companies that specialize in designing and installing electronic systems for the home. Founded in September 1989, CEDIA’s members are established and insured businesses with bona fide qualifications and experience in this specialized field. For more information on CEDIA, visit the association’s website at www.cedia.org. Currently there are over 30,000 custom installers in the US, within the A/V and control industries.
Competition and competitive disadvantages and advantages
The company differentiates itself from competitive products:
•Low cost structure
•Low relative industry sector price
•Greater product functionality
•Proprietary software with unique features
•Key industry relationships
•A product comparison is available on the website www.proremotesolutions.com
•Any Intellectual property including patents, trademarks, licenses, proprietary knowledge
•ProRemote Solutions proprietary software for Home and Office
•Automation and Video/Audio Servers
Management Team
Michael Gregorakos, CEO
Igor Avratiner - VP- Sales & Business Development
Chris Corrigan - Chief Software Engineer
Board of Advisors
Allen January - Best Buy
Mary Berg - Dell
Mark Donnigan - VUDU
Daniel Kolber - Baker Donaldson
Mike Powers, CPA - Powers, Farmer & Company
All shares i found held by insiders:
M. Thomas Makmann – 88,001,767
J. Roger Kirkland – 8,000,000
Raymond Purdon - 20,800,000
The VP Sales & Marketing, Roger R. Kirkland's wife and adult step son approximately 8,000,000
Thomas Makmann, has 2 adult children and 2 minor children approximately 5,000,000
Cape MacKinnon Inc. 250,000,000 Common Shares
Steve Frye
2063 N. 102nd Pl
Scottsdale, AZ 85255
Falcon Financial Partners LLC 250,000,000 Common Shares
Ed Liceaga
1446 Front Street Ste. 400
San Diego, CA 92101
Firebird Global Management, LLC 230,000,000 Common Shares
Matt Connor
3340 Peachtree Rd Ste. 1800
Atlanta, GA 30326
Connor & Kirk Capital LLC 230,000,000 Common Shares
Matt Connor
415 Madison Ave.
15th Floor
New York, NY 10017
Samoset Investment Group LLC 200,000,000 Common Shares
Mark Makmann
125 Erskine Ave
Manchester, NH 03104
Current Share structure:
A / S 5,000,000,000
O / S 4,229,425,280
Float 2,886,723,512 (currently tradeable)
Held by insiders: 1,342,701,768 (based on figures given to us)
Total shares held by insiders i found based on who owns them; 1,289,801,767
That leaves 52,900,001 unaccounted for; however I did find a clause stating board of directors own approximately 1% 53million/4.2bil = 1.25% give or take.
Ok, now the exciting part:
The merger provides for the shareholders of ProRemote to receive approximately 75% of the issued and outstanding common stock of QED Connect at closing, which is expected to occur no later than January 8, 2010.
currently available: 2,886,723,512 (in the float)
2,886,723,512 x .75 = 2,165,042,634
2,165,042,634 gets tied up now subtract old float from shares getting tied up.
2,886,723,512 - 2,165,042,634 = 721,680,878 available for trading.
New Float Estimate: 721,680,878
These are estimates, it clearly states Approximately these could be less. Either way I see the new float being under 1,250,000,000
Courtesy of PERSER
Date-volume-close:
Nov. 9 - 155 million - 0.0002 (Signs Letter of Intent for Merger)
Nov. 10 - 70 million - 0.0002
Nov. 11 - 28 million - 0.0002
Nov. 12 - 29 million - 0.0001 (Partner Seeking Finalize Contract)
Nov. 13 - 87 million - 0.0001
Nov. 16 - 46 million - 0.0001
Nov. 17 - 44 million - 0.0001
Nov. 18 - 9 million - 0.0001
Nov. 19 - 216 million - 0.0001
Nov. 20 - 68 million - 0.0002
Nov. 23 - 1.1 billion! - 0.0003
Nov. 24 - 452 million - 0.0003
Nov. 25 - 401 million - 0.0005
Nov. 26 - US markets closed
Nov. 27 - 358 million - 0.0008 (half day to trade)
With this information I went and looked at a chart and estimated Buys vs. Sells
Results i came up with from the 9th of November through the 27th of November:
1,964 Buys 1,099 Sold
~865 Million being held by share holders IMO
If you think about it, its as if we are already trading on less than 1 billion... All IMO we continue to move up fairly quick.
All DD is found by me with in PR's, Filings on Pinksheets, Company Websites, Google Searches.
Please do your own digging and come to your own conclusion, it is you that must live with the decisions you make with your money, so make sure you are confortable with the information you obtain.
Feel free to ask any questions.
AI
