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
