ONCI Letters to shareholders from Feb 5 and Jan 31
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Posted On: 02/05/2018 2:18:26 PM
ONCI Letters to shareholders from Feb 5 and Jan 31 >
NEW YORK, Feb. 05, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- ON4 Communications (OTCPINK:ONCI) -- 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 that I can talk about.
Financials
We had a stellar year, grossing over 1.8 million from nothing last year we were up 50 plus percent quarter over quarter and far out-paced expectations. With regards to the 2-million-dollar payment that was to buy the remainder of FMS marketing that we did not own, Alan Baily and I are in negotiations with the Del SOS to reduce the debt owed. The debt is nowhere near $900 thousand that is a number that they put on all companies until they file. In regards to the share reduction I stated on page 2 that the reduction has been reported with the Colorado SOS and is under Hexagon Holdings. As soon as we get approval, the share reduction will be in place. I have also reduced my commission rate to 12.5 percent, a 50% reduction, so we will have more cash for all the things we need to do. Overall, I’m thrilled with our financials and we are growing very fast signing deals every week.
KL
We are in the process of making our mold, which will allow us to reduce our costs by 50%. Each mold can make 150,000 to 200,000 units. I will be travelling back to KL to start production shortly.
Garden City Group
They have 150 units and are selling now. I will be reporting sales at the end of the month.
Penn Group
They have units and are selling now.
H Group NY
They have units and are selling now.
Gunther Fla
All stores have units and are currently selling.
San Antonio
I am told by my Rep. Scott Wells that we will be getting an e mail with bid requirements shortly. Nothing ever moves fast with Government.
Municipalities
We are in discussions with a group that sells software and hardware to all government agencies both Local and Federal in 21 countries. I will release the name when a contract is signed.
Growth of our marketing team
We have engaged two major automotive after market product sales agencies. These agencies sell into multiple channels in the automotive industry including but not limited to internet sales, direct sales to the major auto parts chain stores, direct sales to auto parts distributors, wholesale warehouses and direct sales to automotive dealers. The combined total of new sales representatives is 21 now covering more than 50% of the country.
We are near completion with signing contracts with 2 other sales agencies that will bring another 29 sales representatives that would cover the entire US. In addition we are in negotiations with another two agencies that cover big box retailers such as Target and Best Buy to represent bSafeMobile. We are in discussions with our partners in Great Britain to take over all of western Europe and meet with them in mid March when they come to the US.
bSafeMobile has updated its back office systems (inventory control, accounting, billing, invoicing, etc.) to handle the expected increase and sales activity generated by these sales agencies.
USW
We will be implementing sale in 2 dealerships in South Fla next week and working out all kinks until we roll out in Fla first.
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, the IT guy I was working with, Osman, was then confident to be able to download the Fleetsafer software to his computer. We have a deal memo on the table.
COLONY TRUCKS - KUWAIT
Had a very long meeting with this company. They have over 1000 trucks and construction machinery in their fleet. 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 received the units and get them to start a test. Will contact the team in Vancouver again to walk them through it.
MERCEDES TRUCKS/VANS - UAE
Met with Navin Sook, their 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. But 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.
Al FUTTAIM MOTORS
Had 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 a 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.
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.
OTHER ACTIVITY
Graham and I are also working on:
- 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
Graham will go to Saudi first or second week of February and meet them.
We currently have 2 other deal memos on the table and are meeting with other potential clients as well.
UK
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
TURKEY
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 with S. Berman 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.
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
Have recently found a very good consulting agent, Mr. Rossen Tzvetkov. Bulgaria is part of the EU and need 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.
Uber
I have had 1 meeting and 1 conference call with them. Bsafe will not work for them. Fleetsafer is the play and we have to make adjustments to the software to do what they need done. Our tech team is working on this ASAP.
Amazon
We will be back on Amazon next month.
Facebook
Fly has created some new ads for us and we will be rolling them out within 2 weeks with a better understanding of the right targets.
I will be sending out another update with more activity as soon as I get the answers back from our reps, including more dealership activity as well as other things we have discussed in Press Releases over the past year. We will also be discussing all arms of Hexagon.
As you can see we have so much going on and are poised for major growth. We truly are a global company and have come from nothing to all this in less than 2 years. This is only half of what’s going on at ONCI/Hexagon. And as I said there is so much more and it will appear in the next update.
http://www.otcmarkets.com/stock/ONCI/news/Let...36&b=y
CEO Shareholder Letter from Jan 31, 2018
OTC Disclosure & News Service
Los Angeles, CA -
I would like to take this opportunity to talk to all shareholders about why the audit could not get done. We have been trying for months to get all the information needed to complete an audit. Unfortunately there is an abundance of information that was needed that current management of On 4 communications does not have access to. We have reached out to Tim Owens previous CEO of the company but have not heard back. In addition previous management racked up a huge bill with the state of Delaware causing a major problem for us with getting a good standing notice. We have been negotiating with Delaware to reduce this bill and are currently still in negotiations. Even though we are currently a Colorado company this outstanding bill needs to be paid to complete and audit. This is not a current bill but a past due bill from years ago. That being said just as the buck starts with me it ends with me. I take full responsibility as CEO of the company for not getting this done. We are working hard to get all this information together to get a complete audit done.
On a positive note for the year we reported record revenues of over 1.8 million.
And a 50% increase from last qtr over the previous quarter. We are expanding and growing and a fast clip and everything is coming into place. We are building a large and experienced sales force and should start getting new orders shortly. We are closing deals at a constant pace and will be making announcements soon.
We are about to make our mold for our OBD product in Asia which will allow us to produce our hardware at a faster speed and at a much cheaper cost. This mold will allow us to increase production and cut our costs in half.
AS you will see in our Financials we are now a Colorado company. Hen Hexagon is approved as noted in our docs filed with Colorado SOS the AS is now 4b reduced by the 1b promised and the OS has been reduced 1.4b to 2,458,547,369.In addition the 30 million preferred have been retired and an additional 20 million have been added .
In regards to Dubai we have 3 deal memos out and are discussing terms with these companies. This is taking longer than we hoped but we are expecting to close asap.
In closing I would like to say we are in the best position we have ever been in and we are working hard to deliver shareholder value and appreciate all your patience.
http://www.otcmarkets.com/stock/ONCI/news/let...49&b=y
NEW YORK, Feb. 05, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- ON4 Communications (OTCPINK:ONCI) -- 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 that I can talk about.
Financials
We had a stellar year, grossing over 1.8 million from nothing last year we were up 50 plus percent quarter over quarter and far out-paced expectations. With regards to the 2-million-dollar payment that was to buy the remainder of FMS marketing that we did not own, Alan Baily and I are in negotiations with the Del SOS to reduce the debt owed. The debt is nowhere near $900 thousand that is a number that they put on all companies until they file. In regards to the share reduction I stated on page 2 that the reduction has been reported with the Colorado SOS and is under Hexagon Holdings. As soon as we get approval, the share reduction will be in place. I have also reduced my commission rate to 12.5 percent, a 50% reduction, so we will have more cash for all the things we need to do. Overall, I’m thrilled with our financials and we are growing very fast signing deals every week.
KL
We are in the process of making our mold, which will allow us to reduce our costs by 50%. Each mold can make 150,000 to 200,000 units. I will be travelling back to KL to start production shortly.
Garden City Group
They have 150 units and are selling now. I will be reporting sales at the end of the month.
Penn Group
They have units and are selling now.
H Group NY
They have units and are selling now.
Gunther Fla
All stores have units and are currently selling.
San Antonio
I am told by my Rep. Scott Wells that we will be getting an e mail with bid requirements shortly. Nothing ever moves fast with Government.
Municipalities
We are in discussions with a group that sells software and hardware to all government agencies both Local and Federal in 21 countries. I will release the name when a contract is signed.
Growth of our marketing team
We have engaged two major automotive after market product sales agencies. These agencies sell into multiple channels in the automotive industry including but not limited to internet sales, direct sales to the major auto parts chain stores, direct sales to auto parts distributors, wholesale warehouses and direct sales to automotive dealers. The combined total of new sales representatives is 21 now covering more than 50% of the country.
We are near completion with signing contracts with 2 other sales agencies that will bring another 29 sales representatives that would cover the entire US. In addition we are in negotiations with another two agencies that cover big box retailers such as Target and Best Buy to represent bSafeMobile. We are in discussions with our partners in Great Britain to take over all of western Europe and meet with them in mid March when they come to the US.
bSafeMobile has updated its back office systems (inventory control, accounting, billing, invoicing, etc.) to handle the expected increase and sales activity generated by these sales agencies.
USW
We will be implementing sale in 2 dealerships in South Fla next week and working out all kinks until we roll out in Fla first.
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, the IT guy I was working with, Osman, was then confident to be able to download the Fleetsafer software to his computer. We have a deal memo on the table.
COLONY TRUCKS - KUWAIT
Had a very long meeting with this company. They have over 1000 trucks and construction machinery in their fleet. 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 received the units and get them to start a test. Will contact the team in Vancouver again to walk them through it.
MERCEDES TRUCKS/VANS - UAE
Met with Navin Sook, their 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. But 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.
Al FUTTAIM MOTORS
Had 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 a 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.
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.
OTHER ACTIVITY
Graham and I are also working on:
- 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
Graham will go to Saudi first or second week of February and meet them.
We currently have 2 other deal memos on the table and are meeting with other potential clients as well.
UK
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
TURKEY
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 with S. Berman 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.
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
Have recently found a very good consulting agent, Mr. Rossen Tzvetkov. Bulgaria is part of the EU and need 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.
Uber
I have had 1 meeting and 1 conference call with them. Bsafe will not work for them. Fleetsafer is the play and we have to make adjustments to the software to do what they need done. Our tech team is working on this ASAP.
Amazon
We will be back on Amazon next month.
Fly has created some new ads for us and we will be rolling them out within 2 weeks with a better understanding of the right targets.
I will be sending out another update with more activity as soon as I get the answers back from our reps, including more dealership activity as well as other things we have discussed in Press Releases over the past year. We will also be discussing all arms of Hexagon.
As you can see we have so much going on and are poised for major growth. We truly are a global company and have come from nothing to all this in less than 2 years. This is only half of what’s going on at ONCI/Hexagon. And as I said there is so much more and it will appear in the next update.
http://www.otcmarkets.com/stock/ONCI/news/Let...36&b=y
CEO Shareholder Letter from Jan 31, 2018
OTC Disclosure & News Service
Los Angeles, CA -
I would like to take this opportunity to talk to all shareholders about why the audit could not get done. We have been trying for months to get all the information needed to complete an audit. Unfortunately there is an abundance of information that was needed that current management of On 4 communications does not have access to. We have reached out to Tim Owens previous CEO of the company but have not heard back. In addition previous management racked up a huge bill with the state of Delaware causing a major problem for us with getting a good standing notice. We have been negotiating with Delaware to reduce this bill and are currently still in negotiations. Even though we are currently a Colorado company this outstanding bill needs to be paid to complete and audit. This is not a current bill but a past due bill from years ago. That being said just as the buck starts with me it ends with me. I take full responsibility as CEO of the company for not getting this done. We are working hard to get all this information together to get a complete audit done.
On a positive note for the year we reported record revenues of over 1.8 million.
And a 50% increase from last qtr over the previous quarter. We are expanding and growing and a fast clip and everything is coming into place. We are building a large and experienced sales force and should start getting new orders shortly. We are closing deals at a constant pace and will be making announcements soon.
We are about to make our mold for our OBD product in Asia which will allow us to produce our hardware at a faster speed and at a much cheaper cost. This mold will allow us to increase production and cut our costs in half.
AS you will see in our Financials we are now a Colorado company. Hen Hexagon is approved as noted in our docs filed with Colorado SOS the AS is now 4b reduced by the 1b promised and the OS has been reduced 1.4b to 2,458,547,369.In addition the 30 million preferred have been retired and an additional 20 million have been added .
In regards to Dubai we have 3 deal memos out and are discussing terms with these companies. This is taking longer than we hoped but we are expecting to close asap.
In closing I would like to say we are in the best position we have ever been in and we are working hard to deliver shareholder value and appreciate all your patience.
http://www.otcmarkets.com/stock/ONCI/news/let...49&b=y
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