Welcome Renavatio...I'll see what I can do to answer some of your questions and pull some info from the SH meeting and anyone is welcome to jump in and/or correct me:
Regarding a question 4 about R/S...this is from the SH meeting.
ITGUY: Question 12: R/S Split and TT Deal Answer: They don't believe that's inthe best interest of thier shareholders and/or themselves. The officers are shareholders -that's how they are going to make their money in the end. The last thing they want to due is make the stock weak. These guys are very down to earth. They have sacrificed a lot to get the company where it is. The core officers all moved up from Austin, TX with no guarantee this would work and with a fraction of the salary they could have made elsewhere. This is huge for them and they plan on it being their 'last job'. Wing and I learned quite a bit about thier backround last night and how they came together to build this company. They have a team that can 'solve big problems' - problems that other companies who tried to do this same thing (Revco - I believe the name was) failed to do and collapsed.
This should answer question 3 regarding an important source of revenue, in addition to Man Financial, Ameritrade and OptionsXpress:
ITGuy: TT is a huge deal. When TT came in the first time to view what Spooz has done, they left and, according to Paul, the VERY NEXT DAY, Paul has a contract on his desk from TT! How cool is that? The guys at Spooz have conquered what sounds like some high end problems and that's what is getting all the brokers excited. Spooz wanted everyone to thinkthey were at odds with TT but instead, they are working together to get Spooz to their customer. Paul said that if they had only 1 company in the world that they wanted to write to, it would be TT - AND Paul had already wrote to them before he had the contract. Paul knew TT would want them so they wrote to TT well in advance. Now that's just good thinking.
Also, since Spooz is initially launching to the Derivitives, Forex, and Options traders, these are the traders who spend approx. $700 per month (give or take) and makes it much easier and faster for Spooz to become profitable. From fedfunz: Just to give you an idea TT has about 6,000 screens. Everyone of them at least $700 a month. Do the math and you can see that Spooz could be a rocket ship very soon.
As for question 1, the Spooz website has a good overall description of who they are and what SpoozToolz is all about:
About Us
Expensive Trading Systems, a Thing of the Past Early trading was rudimentary at best – with open outcry in the pits and specialists writing notes on scraps of paper. Fortunately, as technology developed, incremental enhancements were made to the trading process. With improved technology came an influx of proprietary online trading platforms.
As access to time-critical market data increases, computer systems and trading platforms capable of managing and analyzing the avalanche of available information has become increasingly critical. More and more, the market is shifting toward systems that provide the option for algorithmic (automated) trading and custom screens that facilitate trading of multiple asset classes.
Today, the landscape continues to evolve and the demand for commonality continues to increase. Now more than ever, traders, brokers, professional hedgers, financial institutions and exchanges share a common need for a standardized, powerful and less expensive option for accessing data, information, and trade execution.
Unfortunately, these luxuries have been limited only to large financial institutions who could afford the high costs of such platforms. More... http://www.spooz.com/about_spooz.aspx
Perhaps one of the guys on the board here can enlighten you as far as competition for Spooz. Although I believe many of us were under the impression that Trading Technologies was going to be a main source of competition but now that Spooz has signed a deal with them...well, that's one down.
Hope this helps and if your interested calling Paul or Darryl at Spooz for further questions is always a good option. gltu allie
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