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Message: My SHM notes....

My SHM notes....

posted on Nov 19, 2009 08:32PM

1st, wonderful to meet many Agora people and it was a huge highlight to my day. Now, on to business, and I have missed a few things for sure, or did not bother as many are already known, so here is my list:

Mtg in 4 parts:

A: corp governance

B: FF Presentation

C: RP comments

D: Q&A

Here we go:

A:

  • 2:00 til 2:07, and proxy vote passed

B:

FF presentation,

  • digecor deal had many biz plans on hold
  • down economy hurt eVU sales
  • airline deals in the works, 1 USA a done deal, 1 in trial, total = 3, news to follow
  • 9/30/09, debt = 96,900 and debt as of "today" zero
  • staff reduced by 40% since Mar-08
  • burn rate reduced from 250K to 150K
  • WAEA mtgs were successful, future customers to be announced
  • MEZZO still a major partner, trials in process that could result in large PO's
  • opened 2 additional eVU repair centers in the UK & France, re: MEZZO
  • eVU service contracts growing with increased product sales, and margin growing
  • service contracts range in monthly revs between $5K to $14K, depending on the customer and content upgrade cycle
  • economy down cycle hurt efforts in healthcare, cruise lines and rental car biz
  • DM CO 19 wanting to settle and be done with it...faster pace expected, some have already come to the table
  • 2:32, FF done

C:

RP, set the stage for Q&A re: legal reasons, company strategy etc...very well done I might add!!

  • as revs ramp up, company will consider divs to SH's or share buyback...all options are open
  • concerning patents re: 1st 7, zero prior art an issue...patents strong
  • we are still in tier 1, tier 2 will include removable or embedded infringement, and will be the bigger players
  • Markman not a goal for all of the 19 or future...maybe 1 or 2, but it takes 3 years or more to "get a check"
  • patents proven strong to date re: tier 1...nobody chose to fight us to date
  • "price of 2nd round is round 1"
  • out of debt for 1st time in EDIG's history
  • IP efforts to be an 18 month to 5 year time frame

D: the answers

  • divs or share buyback being considered, and a reverse split highly unlikely
  • again, NO PRIOR ART FOUND RE: 1ST 7
  • actively working on signing law firm #2 to handle DM conflict cases
  • 5000+ eVU's now out there and growing
  • RP felt a PR firm was not needed, and he will be our voice to attract new investtors etc
  • 174 ID's # still about the same from day 1...a few dropped...a few added
  • "raise the bar" means we will be asking for higher settlements
  • Here's a good one: Per RP..."I think there will be some surprises in round 2"

I don't have time for questions...just being a reporter, and I'm sure I missed may points, but these are the key one's IMO.

Dischino

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