I guess going from zero to $11.5 million in sales over the past 3 years is not fast enough growth for this CEO. They are giving up all that business to concentrate on a different business plan. Nobody does that if they were truly selling the amount of units they are claiming.
In other words the CEO is saying they are going back to zero sales until they can close an insurance company deal. They have spoken to 5 international insurers and of course all 5 are close to a deal.
I really wish the CEO would have someone else read his SHL before releasing.
NEW YORK, NY—January 31, 2020– On4 Communications (OTC PINK: ONCI) is pleased to announce the following update to Shareholders:
LETTER TO SHAREHOLDERS
2019 was a great year for ONCI. We increased revenue YOY and we reached important goals and targets. As we move forward we see a change coming to how we do business going forward. We were the first company to sell our app to car dealers. but as we move forward we need to change the way we do business and move to a more important business model. As we have discussed I feel the most important opps for growth are Insurance Companies both in USA and abroad. The best chance for optimum revenue growth is to make deals with Insurance companies all over the world. We are currently in talks with 5 International Insurance companies and are close to making deals with them. If this happens going forward we can increase revenue five fold in 2020. This would be a sea change for ONCI
Moving forward Bsafe mobile will be changing its marketing and revenue plan Instead of doing one sale at a time at a car dealer we will be Fishing where the Fish are. We will be focusing on Insurance companies both Large and Small in the USA and abroad. Our revenue model will be switching from a onetime payment up front to a recurring revenue model. We will move to an all or nothing model. How this works is an Insurance company will be charging their users a small license fee on the anniversary of every auto policy for safe driving. The fee will be like a tax and every auto policy holder will pay it. The Insurance company will send every client a link to download the app to their mobile phone. The customer who does not download the link will get 2 additional emails reminding them to do so. We are looking to do 5 year deals with the Insurance Companies and automatic renewals. What this means is that our potential revenue will change every month once the deals are signed and we add more policies to the fold. As stated already we need to make some changes to our IOS version of our software based on the specs of the first 2 companies we have spoken to. The change should take 45 days but that’s in best case scenario.
To date we have spoken to 5 international Insurance Companies with over 12 million auto customers. What this also means is that we will not have to chase companies for money. We will get a breakdown every month of each policy renewal. This way of doing business is also great for the companies because it won’t cost them any out of pocket cash and they will save millions of dollars in claims.
We believe that this model is a win win win for all parties involved. What we find interesting is that foreign Insurance companies are much more interested in this than are the US companies.
We believe that this model will be a total game changer in the way our business conducted going forward.
More on the rest of the company to follow at a later date as we move every aspect fof each division forward.
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 within the medical marijuana and emerging MJ ancillary products space.
In other words the CEO is saying they are going back to zero sales until they can close an insurance company deal. They have spoken to 5 international insurers and of course all 5 are close to a deal.
I really wish the CEO would have someone else read his SHL before releasing.
NEW YORK, NY—January 31, 2020– On4 Communications (OTC PINK: ONCI) is pleased to announce the following update to Shareholders:
LETTER TO SHAREHOLDERS
2019 was a great year for ONCI. We increased revenue YOY and we reached important goals and targets. As we move forward we see a change coming to how we do business going forward. We were the first company to sell our app to car dealers. but as we move forward we need to change the way we do business and move to a more important business model. As we have discussed I feel the most important opps for growth are Insurance Companies both in USA and abroad. The best chance for optimum revenue growth is to make deals with Insurance companies all over the world. We are currently in talks with 5 International Insurance companies and are close to making deals with them. If this happens going forward we can increase revenue five fold in 2020. This would be a sea change for ONCI
Moving forward Bsafe mobile will be changing its marketing and revenue plan Instead of doing one sale at a time at a car dealer we will be Fishing where the Fish are. We will be focusing on Insurance companies both Large and Small in the USA and abroad. Our revenue model will be switching from a onetime payment up front to a recurring revenue model. We will move to an all or nothing model. How this works is an Insurance company will be charging their users a small license fee on the anniversary of every auto policy for safe driving. The fee will be like a tax and every auto policy holder will pay it. The Insurance company will send every client a link to download the app to their mobile phone. The customer who does not download the link will get 2 additional emails reminding them to do so. We are looking to do 5 year deals with the Insurance Companies and automatic renewals. What this means is that our potential revenue will change every month once the deals are signed and we add more policies to the fold. As stated already we need to make some changes to our IOS version of our software based on the specs of the first 2 companies we have spoken to. The change should take 45 days but that’s in best case scenario.
To date we have spoken to 5 international Insurance Companies with over 12 million auto customers. What this also means is that we will not have to chase companies for money. We will get a breakdown every month of each policy renewal. This way of doing business is also great for the companies because it won’t cost them any out of pocket cash and they will save millions of dollars in claims.
We believe that this model is a win win win for all parties involved. What we find interesting is that foreign Insurance companies are much more interested in this than are the US companies.
We believe that this model will be a total game changer in the way our business conducted going forward.
More on the rest of the company to follow at a later date as we move every aspect fof each division forward.
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 within the medical marijuana and emerging MJ ancillary products space.
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