Rapid Fire Marketing Shareholder Update 12 December 2013
It has been a few months since we posted an update, so I want to take this opportunity to update shareholders on where Rapid Fire Marketing stands…
It has been a long and rough road for this Company since we began the endeavor to become a fully reporting Company and run a business at the same time. This has been a difficult process for all involved, including our shareholders.
As most of you know, we filed our Form 10 with the SEC on Nov 19. We are now working on amending the Form 10 to include our audited 3rd quarter financials.
I have had lots of emails from shareholders asking if we are “still in business”. The answer is: We are very much so in business and looking towards growing revenues.
Now that all the hard and time consuming work on the Form 10 is done, we can go ahead with the rest of our business. And, bear in mind that because the Company is well organized now, required audits going forward will be much easier, take much less time and will be far less expensive.
So, using the same format as previous updates, I have put together the following comprehensive update on our business and strategy going forward with respect to products and corporate structure.
Points to be Covered
- Fully Reporting Status
- Removal of the DTC Chill
- Dry Vaporizer
- Growth Strategy as a Fully Reporting Company
- Management Team/Board of Directors
Fully Reporting Status
After finally getting through the long and arduous audit process, we filed the Form 10. On the same day we filed our Form 10, we were assigned an SEC examiner. Our attorneys have worked with this individual before and have a good relationship in place. We expect to get through the comment phase of the Form 10 and get the document effective as soon as possible. We were going to file the 10K for 2012 but since we are most of the way through 2013, we will file the 10K for 2013 no later than March 31, 2014. Once our Form 10 is effective, we will apply for a OTCBB or OTCQB listing.
Removal of the DTC Chill
Background: On February 17, 2012, Rapid Fire Marketing was designated Trade for Trade and exited from the DTCC’s Continuous Net Settlement System (CNS). Additionally, a few trading firms restrict the purchase of our stock and only allow sales.
The same legal firm that completed our Form 10 is also working on our DTC Chill issue. There has been a lot of communication between our legal firm and the DTCC. However, work on the Form 10 has eaten up a lot of their time. Now we are proceeding ahead with submitting our next package of opinions to the DTCC. Hopefully this time, we will satisfy their requirements and our DTC chill will be lifted.
Dry Vaporizer
I expected to have the new dry vaporizer in August of this year. In fact, we have been through numerous engineering changes and modifications to this vaporizer. I have had a great deal of concern with regard to quality. I simply will not take delivery of this unit unless it performs perfectly. We now have a unit that is ready to go to production.
I have been working directly with the owner of HexCorp to ensure we have a unit that performs extremely well and a unit that has unique features. I have a call set up with HexCorp late this week or early next week to finalize the process and go to production. Once I know when we will start receiving these units, I will let shareholders know. I will also get pictures and video, if possible, of the final unit that will be stocked at our fulfillment facility for sale.
We are setting up a new website for sales of this unit. We plan to add more units in the near future as I have built relationships with other vaporizer manufacturers over the last few months. Additionally, I am discussing other products with manufacturers that we can acquire and sell. More on this as we get into 2014.
Growth Strategy as a Fully Reporting Company
I absolutely believe one of the best ways to build a Company is through high quality acquisitions. As mentioned in the “about” section of our news release regarding the Form 10 filing, we are going to transition to a Holding Company . To that end, I want to rename the Company and get a new ticker symbol .
I also want to solicit shareholder input as part of our growth strategy going forward . I have had many good ideas sent to me by shareholders in the past but we simply were not ready nor had the resources to implement those ideas. I am going to have a section set up on our website specifically for shareholder input. Renaming the Company and obtaining a new ticker symbol will have shareholder input.
Management Team/Board of Directors (BOD)
Now that the Form 10 is filed, it is my desire to build a management team and a BOD for this Company. Some of the individuals that I had earmarked for positions have turned out to not be a good fit for us. I am only going to bring onboard people that will clearly understand where we are headed as a Company for the future. The first business veteran I want to bring onboard will be well versed in mergers and acquisitions.
Finally, I appreciate the patience and understanding exhibited by many of our shareholders through the long and difficult audit process. We are now in a position to begin our transition into the New Company. And, as I said in a previous update, between getting to fully reporting status, lifting the DTC chill, accretive acquisitions, and up-listing to the OTCQB or BB, developing and acquiring new products and technologies, we will be well on our way to becoming a Company that builds shareholder value.
Regards,
Tom Allinder
CEO
