Miami deal closed by end of September? LMAO!!! Or is that 2013? LOL
Miami?
I announced a "Letter of Intent" had been signed for the Miami franchise. That group has until September 30 to follow through with the purchase. We have been answering their questions, moving documents and applications back and forth, working out financing issues, etc. Unlike many shareholders who want to buy and sell over a 3-hour period, REAL BUSINESS often works in steps and phases, and these things take time, simple as that.
Indy?
We have been working on setting up Indianapolis while many other things are going on. There are processes within the State of Indiana that need to be developed and executed, as well as putting together the franchise itself, personnel, etc. It's a process, and I will NOT invest significant company money into ANYTHING in haste just because I have some impatient shareholders.
Canada?
Post 9-11 regulations and process is dramatically more complex. It's a lot of work and there are only a few of us. Doing the paperwork to open franchises in Canada does NOT mean there will suddenly be franchises open in Canada. It means we've had enough interest and inquiries to lay the groundwork to have the ability to market and open franchises in Canada.
Employees?
What about them?
Does Mr. Libby still work for You?
That remains to be seen. I haven't made any announcement on that because nothing is yet official. Mr. Libby and I are having philosophical and business differences, and we are presently trying to work them out. Mr. Libby is a VERY good man and has been a fine President for ATYG, and whether he stays or departs, he has been a positive influence on this company and on me personally. Once something is definite, it will be announced.
What happened to your franchises?
Same franchises are still operating as before, except we have suspended operations in Boston because we have been inundated with the national process, and found we were being neglectful enough to the franchise that we were doing more harm than good. Once things lighten up a bit, and we can find and hire a competent Manager, we fully intend to re-activate Boston.
What about the Attorney hired to investigate short sales?
The attorney looked into the shorting and has basically said that YES there is shorting going on, but at this point, there is little we can do about it without spending significant money to pursue it. Now would you rather we spend our money pursuing that, or investing the money to grow the company? At this point, we have decided that though this will be ongoing and we will eventually pursue this matter with more vigor, what's best for the company right now is to invest in its growth.
Come on!!! Back up your statements with facts.
The above is what I know up to this minute, and what I'm willing to share.
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Respectfully,
James J. Albion, CEO, Chairman
Atlas Technology Group, Inc.
Everything is all just a matter of opinion.
