TheDirectory.com Inc (SEEK)

[sliderulex]

Well, I just spent the last half hour chatting with Scott (727-417-7807) about various business matters, and he was very helpful in answering my questions. Here's a summary:

1. There will not be a reverse split in 2011. Scott said he used to be a stock broker, and that he hates reverse splits.
2. July is shaping up to be another profitable month.
3. Scott confirmed he is the largest shareholder.
4. The work on the acquisition is ongoing and he was positive about it, but could not give specifics.
5. He declined to give a pps projection for end of year.
6. The debt is not as large as it appears on the balance sheet. This is because of an accounting procedure that causes the debt to 'look' larger than it is.
7. If profitability continues, Scott may buy back shares to reduce the O/S.

There were many other things, but this is the significant stuff. Scott likes to chat with investors. This is the 2nd time I've chatted with him. Very personable guy.