Business
Letter to Shareholders on the State of the Company
Letter to Shareholders on the State of the Company.
About this update from On4 Communications, Inc.
[{"type":"text","content":"\n\n NEW YORK, March 16, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--On4 Communications, Inc. (OTCPINK:ONCI) announces the following letter to shareholders from CEO Steve Berman:\n 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 their 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 (in...