LETTER TO OUR SHAREHOLDERS
Date: June 17, 2021
We have finally concluded our annual meeting, and by approving management’s proposals, you have given us the tools we need to spring forward with our acquisition program as well as with the expansion of management to provide us with the diverse, integrated, experienced, and talented team that we need to drive this company forward on its aggressive path towards success.
During the past year, our efforts have been directed at eliminating the large debt we inherited in 2015 from prior management, in filing important current reports with the Securities and Exchange Commission under the Exchange Act (our 2020 10-K, two subsequent 10-Qs and many reports of current events on Form 8-K), and in preparing the paperwork and financial statements required to correct past filing deficiencies. We have noted that many issuers whose securities are traded in the over-the-counter markets operated by NASDAQ and the OTC Markets Group will soon be removed due to inadequate disclosure, a move we applaud. We are glad we will not be among them and we aspire to earn the right to have our securities listed on NASDAQ, away from the many issuers involved in pump and dump scams through issuance of flashy and misleading press releases, which have become all too common in the lower tiers of over-the-counter markets.
During the rest of 2021, we intend to concentrate first on capital-raising activities, next, on completing pending acquisitions, and finally, on recruitment of new officers and directors, and, concurrently, progress on our plan to transition out of “shell” status. We are working extremely hard to earn your trust by not promising what we cannot deliver and by always keeping our word. Our proposed operating plan is sophisticated and complex, seeking to generate significant synergies and savings as it evolves. We are dedicated to developing a business model that will, over time, generate a continuing stream of dividends, primarily stock dividends, in companies we develop and spin out.
In conclusion, our company is now set to move forward with strong underpinnings for future growth. We want to thank you for your patience. As I have said all along, patience rewards those who know the difference between expectations and performance. Like an iceberg, performance sometimes lies below the surface in hard work that goes unnoticed. Now, over the next six months, it is time to perform!!
Very truly yours,
Chairman, Chief Executive Officer & President