Attention: Richard Martel addressed the recent development. Sunday, July 31st, 2011 at 8:15 pm (PST)
Dear Shareholders,
Please find my response to the numerous email inquiries received. This response has been blind copied to many investors who have conscientiously taken the time to write regarding recent allegations and status of the company.
We assure you Wanderport has been and will continue to communicate with shareholders on a regular basis. Please keep in mind however, that three explanations as well as a news release containing pictures were already issued during the past week. The first communication was on behalf of the company, the second, from our legal counsel's perspective and third, through an official attorney letter encompassing material information involving the AMF's claims which had to be included to maintain Wanderport’s "current" status.
As for Andrew, you must understand he is hired as an independent contractor possessing no involvement in the decision making process. He regularly communicates with Robert Simoneau, the company's Technical Advisor and Licensor and then provides technical explanations to investors. Over time, their relationship has developed which definitely lessens the burden on Robert and frees up his time to concentrate on the product rather than continually provide technical explanations to the public.
So far, Wanderport's growth potential has not been affected by actions taken by the AMF against certain individuals. Share price has unfortunately been affected by accusations made by individuals on a vigilante campaign involving unsavoury characters unrelated to the company. They are attempting to denigrate our licensor's character vis-a-vis his patent applications as well as managements' good faith towards shareholders. As individual shareholders, it is up to you to decide for yourselves who is telling the truth. I assure you of my utmost trust in Robert Simoneau's ability to guaranty the protection of proprietary information through his patent applications. In my humble opinion, the value of the company lies with the merit of our product and Robert has taken the steps to safeguarded the product’s IP by systematically filing and renewing his patents. All has been documented in disclosures and public announcements earlier this year.
Most recently, we have been accused of never meeting at UL regardless of publicizing a picture of Mr. Myers (US distributor) with Robert at UL. We also posted revenue projections and UML's contractual agreement as exhibits on www.otcmarkets.com which are still not enough to quell accusations that UL never took place. To think this is all a clever scheme is pure insanity. Please note that the projections in UML's agreement are based on the possible development of various models stemming from the current MCMHU being developed by our engineering partners.
As for Andrew, he is looking after his affairs by contracting a lawyer to contest the allegations made against him. Legal counsel is of the opinion that he is being made the scapegoat for overseeing our marketing efforts outsourced to accused unrelated parties. Such services were to be provided as "turnkey all in one" marketing services comprising our website and a "quote" link by choosing the "Investor Relations" tab. At present, Wanderport is not compelled to retain Mr. Barakett's services. He has offered his resignation in good faith towards investors; however, we feel he is entitled to defend himself against these allegations because no formal decision has been made against him. He is entitled to "due process" and that the old adage of "innocent until proven guilty" applies here.
For the record, any final decisions i.e.; the situation at hand or any others, including but not limited to company direction, content in news releases, financials, etc. are taken by me even though other sources (either distributors, licensor, attorneys to name a few) may be consulted from time to time prior to a final decision. Also, to avoid further nuance or unsubstantiated accusations, please be advised that the process to completely overhaul and replace our existing website was commenced prior to the recent AMF allegations. Brian was particularly made aware of our decision to change websites altogether, during a previous conversation with IR. The new website will be www.wanderportcorporation.net for those interested (still under construction). Our present website will cease operation as of August 4th due to the tragic passing of the server's owner. Yes, the timing is a total coincidence without being influenced or affected by the AMF allegations and only the result of Wanderport's maturity and growth.
Having said that, financial resources are limited so hiring new IR is not cost effective. Without IR, Wanderport would operate in a vacuum which would eliminate most technical explanations to investors and impose unnecessary stress and workload on Mr. Simoneau. Therefore, IR shall remain as is. Although Wanderport's or Andrew's involvement in this AMF investigation seem by association and circumstantial, we will continue to monitor the situation in case further immediate action is needed.
More news will also be released later this week touching on some of these points, as well as the product and our goals for in the coming weeks while Robert is away.
Anyone feeling the need to visit either myself in Florida or Mr. Simoneau and Andrew in Montreal may do so at a convenient time for all parties upon notifying the writer.
My understanding is that Wanderport is compliant with the SEC and FINRA, who have already verified all our product claims and contracts last year. Because of the dual nature of Wanderport having a portion of its infrastructure and Licensor in Canada, we must deal with the alleged accusations of a foreign regulator regardless of status quo from the SEC and FINRA. Whatever the case, I have held compliance positions within the insurance industry in the province of Ontario and very seldom did I witness a business that did not face some sort of grievance or litigation on the way up. Better to clear the air now rather than continue to roll in uncertainty and accusations.
Wanderport and its licensed technology are real and in the midst of transition from an R&D start-up to becoming what we hope to be an interesting “game changer” in the water heater industry. I am certainly proud of my role and association with Wanderport and take my duties very seriously in building shareholder equity and ensuring a compliant environment to grow the company. I can only hope investors share in my delight and anticipation of what should develop from our MCMHU in the coming weeks.
Hoping this meets with your approval,
Sincerely,
Richard Martel President and CEO
Wanderport Corporation 17445 US Highway 192, Suite 1, Clermont, Florida 34714 USA
