LETTER TO SHAREHOLDERS ON THE STATE OF THE
COMPANY
NEW YORK, NY -- March 16, 2018 -- InvestorsHub NewsWire -- On4
Communications, Inc. (OTC:
ONCI) announces the following letter to shareholders from CEO
Steve Berman:
Below is an update
of most everything that is going on at the company, some
you have heard about and some are new. I will be
discussing everything I can talk about.
FINANCIALS
Q1 revenue was another
record with growth continuing at a rapid pace. We enjoyed an 18%
plus increase over last quarter and a huge increase over Q1 last
year.
The numbers speak for
themselves as revenue grows at current dealerships as well as new
dealerships signed. I expect revenue to continue on the uptrend as
we sign new contracts and distribution deals. February was a record
month and March is shaping up to be even better.
#REVENUERULES
DEALERSHIPS
We are signing dealerships
every week . Last week was a record as we signed dealer groups in
New England, New Jersey, New York and Florida. We have contracts
out that we expect to close on an additional 10 dealer groups
within the next 10 days. Our re-order pace has grown significantly
as we are getting re-orders at 97% of all stores.
Our deal with USW is
starting to pay off as we should be in 5 huge stores in Florida
within the next week. Currently, I have only been turned down by
one group in Florida and not because they did not love the product
but it was a financial decision.
What I am most pleased
about in our dealer network is that most stores are increasing
there re orders and selling more units every month. We are
collecting the cash as fast as we can and will only get better as
we put more feet on the street. At this point in time we are the
only company dealing with both fleet groups and single and large
dealership groups.
All new stores are
starting at a minimum of 25 units per month and some stores are
selling 200 plus per month. We have also started to ask some of the
new stores for CIA and in some cases are getting it. We started
this with nothing and we are growing at an incredible pace and will
continue to grow month over month as we add new stores to our
Network. #DEALERSHIPSROCK
DISTRIBUTION
I am pleased to say that
besides our core sales people we have signed distribution deals
with companies based in New England, SouthEast and Middle Atlantic
states, Texas, West Coast (including Washington thru California),
Minnesota , Midwest, Southwest, England and Ireland, Canada,
Europe, UAE and Middle East, South America and, most recently,
Australia and New Zealand.
In total ,we have over 85
salespeople selling our products all over the world. We are in
discussion with groups in Mexico, South Africa, Asia and
Scandinavia. I will update as soon as we close these deals.
#WEAREWORLWIDE
MIDDLE
EAST
Working with
Consulting/distribution agent Mr. Graham Bell. Graham has very good
relationships with the Auto and technology industry throughout the
GULF region including UAE and Saudi Arabia. Just returned from the
region last week.
DUBAI TAXI
CORP
The main purpose of my
trip was to push our current best prospect Dubai Taxi "over the
line" into a test mode. From there I (Graham also) can follow up
and, subject to a successful test, move towards closure of at least
initial unit orders. The objective is to close these initial orders
and then ramp up orders over the coming months.
Dubai Taxi Corp has 5500
in their fleet. Following the installation, Osman, the IT guy I was
working with, was then confident to be able to download the
Fleetsafer software to his computer and monitor the taxis. He
assured me he would call directly if he had any problems. Have not
heard anything. I will follow up this week.
Dubai taxi has now
completed their test with a report being generated to the CEO.
While they will not commit we should hear from the CEO within the
next couple of weeks. This report could include a "Green light" to
move ahead, a provisional "Green light" with recommended changes
required, or an outright rejection. Fingers
crossed.
COLONY TRUCKS-
KUWAIT
I had a very long meeting
with this company. They have over 1000 trucks and construction
machinery in their fleet. We went through all the advantages of
Fleetsafer and how this can manage their trucks, Buses, etc as they
all travel throughout the Gulf region (not just Kuwait). Jamil
Malik and Alvin Lewis are the key guys there and agreed to test the
system. Graham will be sending them 2 units now for testing. I will
follow up with them in a week to make sure they receieved the units
and get them to start a test. We will contact the team in Vancouver
again to walk them through it. They are currently testing the
product
MERCEDES TRUCKS/VANS-
UAE
Met with Navin Sook, head
of Fleet management and Safety/Security features. In addition to
just selling/leasing their trucks/Vans, he also makes sure to sell
them the additional features package which includes many of the
already existing Mercedes features such as automatic breaking ,
tracking , etc. We discussed including the Bsafe/Fleetsafer
software as part of their package offering. He said it could not
come as part of the Mercedes package as Mercedes only puts their
own items in a package; however, he said he could potentially
"bake" it in as a separate item but included in an overall price. I
gave him a unit to test and will follow up with him again in a
week. A proposal from Mercedes trucks was submitted to their
headquarters for inclusion in the package items. Waiting for
disposition on this proposal.
Al FUTTAIM
MOTORS
Had a confirmed
meeting with the CEO Len Hunt whom Graham and I spent time with at
the auto show. Two hours before the meeting I had call from
his office cancelling the meeting but putting me onto their Head of
Multi brand services, Omar Edris. Graham will go over and see him
with a unit to test. This is another one where we could be sold in
the after sales packages. I will follow up with him after he's had
a chance to test the unit, give feedback, and provide some proposal
options. We will get next steps within a week.
WEHBE
INSURANCE
I met with Omar Wehbe who
runs one of the 3 top Insurance companies in the Gulf Region. We
reviewed Bsafe and Fleetsafer, He saw multiple benefits for
Insurance companies but also has good relationships with other
Fleet and auto companies. He wanted some time to think about how
best to use the technology. He said the best thing to would be for
me to let him know next time I'm out and he would arrange further
meetings/ intros as well as propose what he would do with Bsafe.
Meeting with them again end of March
OTHER
ACTIVITY
Graham and I are also
working on:
- UBER Middles East-
Waiting for outcome of Meeting with S. Berman and Global safety
team based in NYC. Uber Middle east would like to proceed. Uber
Middle East is still waiting for Green light from US to proceed .
Uber NY has product waiting for a test result
- Dubai Police (Colonel Al
Masri)
- KIA Motors Middle
East
- Volkswagen Middle
east
- CAREEM Middles East
(Uber equivalent)
- Al Tayer
Motors
- Juma Al Madjid Group
(Hyundai)
- Sheikh Saif's office in
Abu Dhabi (Antoine)- potential Master dealership
- SAPTCO Bus company
Saudi
- Al Naghi Group (bus/
trucks) Saudi
- Tamimi Transportation-
Saudi.
All the Saudi activity has
been on all hold with all the Big players in detention. Saudi
starting to open up again. Graham will be going in the next 2 weeks
to start speaking with potential customers.
UK
We are working with
consulting/ distribution agent Mr. Gordon Poots who is based in
Belfast, Ireland. He has very good relationships throughout the
auto and tech industry in the UK.
He has sent brochures and
following up with the companies listed below
-
Vendigital automotive technology distributor
-
SFU- major Fleet Company- 6000 + cars/vans
-
SLOANS- major Fleet company- 8000 + cars, minibuses and
Vans
-
Addison Lee- Major Fleet company- 12000 Vehicles
-
OH Vehicle Conversion company- Upgrading/modernizing classic and
contemporary cars through the UK.
Meetings set up over the
next 2 weeks
TURKEY
We are working with a new
agent in Turkey Mr. Murat Kortan. He is owner and principle of
Kortan Consulting. The company identifies new products and services
into the Turkish market primarily in the Insurance, Dealer
distributor/Agency business and new technology
distribution.
Have had 3 conference
calls with him including one this morning. He has all the brochures
and is sending them out to his contacts and following up. Next step
is to arrange a call this week to review questions and discuss
commercial terms for the Turkish market. Turkey is 80 million
people and Murat feels this could be taken up by at least 500,000
to 1 million users.
I met Murat in Istanbul
this past Monday and met with one insurance company, Ak Sigorta.
Feedback was positive. But Murat will need to translate the
brochure and materials into Turkish as the level of English is not
that good. We are having a call tomorrow (11th) to discuss next
steps with Ak Sigorta and other potential
clients.
SERBIA
Bsafe technology has been
presented to senior government officials who seem interested in
potentially legislating the mandatory use of this technology in the
country.
In the meantime the
Government has made introductions to the top 2 Insurance companies
in the country. They are TRIGLAV Insurance Run by Dr. Dragan
Markovic and AMS Insurance run by Mr. Dejan Jevtic. Between the 2
companies they provide coverage for 83% of all Fleet, Taxi
companies, Buses, and delivery services companies in Serbia. They
both have units after testing will follow up in the next 2 to 3
weeks.
BULGARIA
We have recently found a
very good consulting agent Mr. Rossen Tzvetkov. Bulgaria is part of
the EU and needs to comply with the EU regulations for distracted
driving. I sent Rossen some units and he is testing now. He feels
it is a very good idea and that over time the country will need to
comply with these laws. So he is already speaking to some insurance
agencies, Fleet companies and the Police to help support the
effort. He will get back to me with Feedback in the next couple of
weeks.
I will get an update next
week
ADDITIONAL
ITEMS
COGOSENSE
We are working with the
Cogosense team to finish our new apps and develop new apps. I will
be in Vancouver within the next 2 weeks to meet with the
development team to discuss integration.
I have met with our funder
and we should be closing this acquisition by the end of April. Our
new mold will be able to create between 50,000 and 75,000 units at
a significant discount to what we currently pay for product and all
those savings go right to the bottom line.
#PROFITSINCREASE
3A10
The 3A10 is 99.9 percent
done and will be completed shortly. We were able to write off over
1.8 million of old debt that was choking us monthly. We are done
with that debt and are moving forward to complete and reduce all
old debt and we will do this shortly.
I will be sending out
another update next week and will include Cannabis, Colorado Dental
and other opportunities on our plate.
Overall, the state of the
company is in great shape. We continue to grow at a rapid pace and
are extending our operations into new and untapped
markets.
We have come a very long
way in 2 short years and I expect to grow this company and expand
into new markets every quarter. #REVENUERULES
$ONCI
About On4 Communications
On4 is a holdings company with an
aggressive focus of acquiring proven and profitable businesses. Our
first project is focusing on businesses operating in the $1.7
trillion U.S. healthcare industry. Our newest targeted businesses
are operating in the trillion-dollar mobile App space. Our first
acquisition in the mobile App space is FMS Marketing a global
creator and distributor of mobile Apps for Android and Iphones. We
are also targeting businesses to acquire and joint venture with in
the medical marijuana and emerging MJ ancillary products
space.
Forward-Looking
Statement
This release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements regarding our expected future
financial position, results of operations, cash flows, financing
plans, business strategy, products and services, competitive
positions, growth opportunities, plans and objectives of management
for future operations, as well as statements that include words
such as "anticipate," "if," "believe," "plan," "estimate,"
"expect," "intend," "may," "could," "should," "will," and other
similar expressions are forward-looking statements. All
forward-looking statements involve risks, uncertainties and
contingencies, many of which are beyond our control, which may
cause actual results, performance, or achievements, as described in
our reports filed with the Securities and Exchange Commission which
are available for review at www.sec.gov, to differ materially from anticipated
results, performance, or achievements. We are under no obligation
to (and expressly disclaim any such obligation to) update or alter
our forward-looking statements, whether as a result of new
information, future events or otherwise.
Steve Berman CEO
On4Company@gmail.com
(323)
487-0389
On4 Communications (PK) (USOTC:ONCI)
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