We received timely news yesterday, below.
TheDirectory.com Releases Shareholder Update
Thedirectory.com, Inc. (PL) (USOTC:SEEK)
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TheDirectory.com, Inc. (PINKSHEETS: SEEK), an emerging leader in the Local search space, today released the following update to its shareholders.
Dear Shareholders,
A little over a month ago we released a shareholder update stating our goals and aspirations for www.TheDirectory.com both in the short and long term. Based on the importance of these goals, especially our short term goal of becoming an SEC exchange act reporting Company, I wanted to provide shareholders with a status report. We're working closely with our accountants daily in collecting and drafting the required 2 years of financial statements and organizing documentation for the audit. We've met with our auditors and SEC counsel to review the process and timing, which is set for late September. We've begun drafting key sections of our form 10, the document that we'll file with the SEC to become fully reporting again. We'll finish the first draft of the form 10 and send it out to both our SEC counsel and our auditors for review upon completion of the financial statements in the next weeks or so. At this point in the process we're comfortable with our stated timeline of filing the completed form 10 and becoming fully reporting again at the end of September, about a month from now. We'll continue to issue updates as we move the process forward. We're very anxious to get this process completed and begin taking advantage of the opportunities in front of us as a fully reporting Company.
In addition to our activities surrounding becoming fully reporting again, we've been working diligently with our programmers and designers to complete and implement our final user interface changes for www.TheDirectory.com. We're very proud of the new design that will be going live next week. At that point we'll resume our full scale sales and marketing efforts.
We continue to seek and consider potential acquisition targets in preparation for becoming fully reporting. With the roll out of the new UI changes next week we'll have fully integrated our partner products announced over the past month or so which will play an important role in growing Q4 sales and profits. We'll be holding our next shareholder conference call in mid-October pending filing of our form 10. We're expecting an exciting fall for our Company.
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