Dear Investment Community,
I sincerely hope that everybody had a wonderful Christmas and is in line for a safe and inspiring new year. As you can probably relate, on a company level, I can’t wait to get out of 2011 fast enough to begin 2012 on a much more positive note. I thought it would be best to address some comments that have been submitted over the past week or so concerning our new direction. I am going to shoot straight as I always have.
The Stock Price
First is, I do not control the stock price. I recognize that there are ways to have an influence on the stock using various methods. And trust me when I tell you there is no shortage of individuals and groups that want to “help” us with this. But I will not have any part in it. We will never issue a press release or make any announcement that does not follow strict compliance and ethical guidelines set by governing authorites.
So I am asking very kindly to refrain from any requests for press or promotions to increase the stock price. It’s a waste of your time and mine. Our plan is to carefully communicate to the public the progress of our company. First and foremost stabilize financially and then report our financials through the proper channels. This is taking more time than anybody obviously would like. However nobody but our team sees the daily effort we are putting in to build the right business foundation for long-term success and shareholder value.
This is what I can control. I can control the company’s progress in executing our business model and plan with the very limited resources I have had to work with. I would personally never ask anybody to walk a mile in my shoes based upon the circumstances in which I inherited leadership of this company. So again, the stock price is not a problem I can solve for anybody. It is a problem that will solve itself as we do good business and drive value.
The Model
I have received some very pointed comments accusing us that our new business model is nothing more than a “scam at best.” I am grieved by these comments, not because I am personally offended, but because I wish every shareholder could see the work that has been put in to get this ship back on course for the past year. Again, if we were doing all of this to excite shareholders with nothing but smoke and mirrors, there would be more smoke and mirrors. I have done nothing but carefully lay out the execution milestones especially in regards to our dealings with the SEC and legal proceedings.
If you look through all my previous posts, along with video captured of me personally executing our model, I believe my track record of honest communication speaks for itself. I say none of this to defend who I am or the integrity of our company. It is my goal to have the right shareholders as true partners in our company that understand necessity has been the mother of all invention here. I hope that the right shareholder can see that we could have gone away a long time ago, but instead we are still here and I am still communicating to the best of my efforts. (I now know how NFL coaches and quarterbacks feel on Monday morning which actually has been a great learning experience.)
With that being said, this has given me an even greater appreciation for the shareholders that have sent me great encouragement over the past few months. A deep thank-you to you all from the bottom of my heart.
Expectations of “Big Things”
To all those who have sent comments around the idea that the shareholders are expecting big things in the new year, I want to respond by saying that nobody expects bigger things than me in this company. I firmly expect our revenues to soar and exponential scalable growth to occur in 2012. I firmly expect to have a healthy stock price that represents the value of our company. I firmly expect to be able to sleep at night knowing I have made things right and fought the good fight on behalf all the friends and family that have put these expectations upon me.
Nobody is more dissapointed than I am right now at the state of the company. However, I assure you that nobody is more hopeful then me at what I expect to accomplish in the next year. I cannot control the expectations of the shareholders. But I can control what I do everyday to make sure I am performing to the best of my abilities to meet the expectations of excellence and integrity I have set for myself.
Of course I will never make everybody happy which I accept. I also recognize that investors are burned every day by CEO’s that have said the very things I have here. So it is up to us to deliver. Only time will tell.
I look forward in publishing our first press release in the new year and hope it will be met with a fresh optimism.
Have a wonderful New Years,
Ed Kang
AI
