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Replies to post #80469 on 8000 Incorporated (EIGH)
NMC
10/29/10 4:41 PM
#80473 RE: NMC #80469
Developments since the last statement - Statement by the CEO Quarter 3 2010 saw the start of construction on the flagship store at Limegrove, Holetown, Barbados. Completion of the store is expected October 29th 2010 and has real significance as it is the first of multiple planned 8000inc retail outlets across the Caribbean and Europe. Brand8000 has also been extended to 15 distinct clothing lines from the established Sports ranges to now included bespoke high end fashion for men and women. As part of the strategy, negotiations and planning has begun to identify and equip a state of the art cotton producing facility. It is expected that by quarter 2, 2011, this facility will provide the quality cotton material for the entire Brand8000 collection. The Company has also moved to secure a prime location for the first Desmond Haynes Sporting Centre of Excellence. Of importance this quarter is the strategic decision by the Board to invite 2 Investment Banks to nominate individuals to join the Board that will be expanded to 6 members. A management committee has been set up to coordinate this progression. One key factor of this move is that 8000inc will invest significantly in cash terms during quarter 4 invest in the industry of Barbados and its own product ranges as well as state of the art Headquarters and sporting facilities. These decisions and investments involve significant cash investment from the Company and risk. Therefore rigid financial control mechanisms and professional skills have been employed to manage the progression from a small business into significant cash driven and investment business with a significant workforce and cash flow. The results of Quarter 3 have shown that the rate of progression is continuing and there is no sign of down turn in any operation or expectations within the group, and in real terms the Company is ahead of plan. The Boards focus is now totally on the Brand8000 launch and progression o a reporting status. To achieve those goals we need not only a good product but also good revenue figures to justify Company positioning. I am and the Company is, absolutely confident this will be achieved. Thomas Kelly. CEO 8000inc.
janice shell
10/29/10 8:28 PM
#80587 RE: NMC #80469