TAMPA, FL — (Marketwired) — 07/17/13 — TheDirectory.com, Inc. (PINKSHEETS: SEEK), an emerging leader in the Local search space, today announced that it will host an investor conference call on July 23rd after the market closes. Additionally the Company provided the following business update to its shareholders in the form of the following letter from the CEO:
Dear Shareholders,
I am pleased to report that last week OTC Markets removed the “stop sign” that had been placed on our stock and upgraded us to OTC Pink limited information. It has been a transitional year for the Company so far and this was the first step of our plan to upgrade our Company to Fully Reporting status by the end of 2013.
We-re coming off the heels of multiple buy-out offers during 2012 by Internet Brands, Inc. (a $100 Million plus privately held Company), a complete revamp of our Local search platform and our ongoing efforts to close a $1.9 Million acquisition. As we emerge from this period and resume our efforts to transform our Company into an SEC Exchange Act Reporting Company and capitalize on the opportunities in front of us, I-d like to provide shareholders with an overview of our business plans moving forward that we believe, if executed properly, will result in a multi-million dollar profitable Local Internet Search Company. To expand on the details of the keys points I discuss in this letter we-ll be hosting an investor conference call after the market closes on July 23rd.
First and foremost our plan is to resume our activities to complete the necessary audited financial statements to once again become an SEC exchange Act Reporting Company as soon as possible. This is probably, at this point, the most important step in our plan if we are to be taken seriously by quality investment banks and possible acquisition candidates. During our recent attempt to finance and close our previously announced acquisition target, we received very positive indications of interest from several large Institutional investors in regards to funding our business plan and acquisition strategy going forward. I firmly believe that when the reporting uncertainty is removed we-ll have several high quality options in regards to financing our future growth and acquisition plans.
In addition to our previously announced acquisition, which we-re still pursuing, we have several other acquisition targets in mind. Our strategy of build, buy or partner means that we are always looking for opportunities specifically in the areas of mobile and video to grow our core Local search business. We-ve developed a comprehensive acquisition strategy that we-ll be ready to execute as soon as we become a fully reporting Company again. Going forward, strategic acquisitions will provide us with both the revenue and profit levels that should help us attract the attention of national advertisers and large investors/funds as well as a future up-listing of our securities to a national exchange. The market for acquisitions in our space is robust on all levels.
In order to achieve our goals of build, buy or partner to grow, based on our current size and structure of our Company, we-ll need to partner with other Industry leading technology Companies that can provide us with access to cutting edge technology and products that, when coupled with our portfolio of products and services will deliver a combined offering not currently available in the SMB market today. Products drive traffic and traffic drives revenue. We-re focusing on the areas of both Mobile and Video as these are the areas that advertisers are the most concerned with. We have several agreements already in place that we-ll be announcing shortly to roll out industry leading products and services coupled with our core products to both new and existing clients. We-ve identified additional Companies and are currently in talks with, whose products and services can affect our business in a positive way when bundled with ours, and will help fuel our future growth without the large investments and time devoted to development.
The market for our products and services is huge, worth many billions a year, we all know that. Change at the top has been happening, albeit slowly, it-s still happening. With the recent growth in mobile, video and Internet search in general, the 150 year old multi-billion dollar a year yellow page business model has essentially collapsed and been replaced. During this process the mobile/video space in particular has become highly fragmented. Opportunity in just the mobile space alone is huge right now with no clear leader. To me this is the most exciting part of what we-re trying to do. We-ll launch our first Local search mobile app during 2013 and we-ll launch a video product this year that we think Local businesses will gravitate to. Mobile and Video search will be the future of TheDirectory.com, it provides us with an enormous opportunity to grab critical market share. It will take quality products and execution to get to the next level, we think we can deliver both, we have the digital assets and the people required to get the job done.
Timing can be the most important part of any businesses success in the long run and I believe our timing could not be better. There is no leader in the mobile/video space for local businesses right now. Because of the events occurring at the top of the Local search eco-system, we have an opportunity to capitalize on this massive opportunity and grab a share of this multi-billion dollar a year business.
We-ve already had a $100 Million dollar Company owned by a $20 Billion hedge fund make us multiple, unsolicited, buy-out offers. We own one of the best domain portfolio-s in our space. We-ve received a positive response from very high quality Wall Street firms, not the typical micro-cap players. So clearly we-re in the right place at the right time, it-s now down to strategy and execution. Step one is to get fully reporting ASAP. That will put us in a position to build a profitable, multimillion dollar Company that creates shareholder value. I-ll get into the details of our plans on the conference call next week. One thing is clear, the future is bright and we-re excited to start the process of building our brand into a household name, creating shareholder value and becoming a serious player in the Local search space. As always I appreciate your support in our Company.
Best Regards,
Scott Gallagher
Founder and CEO
TheDirectory.com
o
TheDirectory.com is a diversified Local and Vertical Internet search company that owns and operates a network of Locally targeted, category specific, search destinations anchored by its Local business search engine , other sites in the network include:, , , and many others. For more information see the Company-s financial statements and related filings on .
Forward-Looking Statements
Certain statements contained herein are “forward-looking” statements (as defined — Private Securities Litigation Reform Act of 1995). TheDirectory.com, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.
Scott Gallagher
727-417-7807
You must be logged in to post a comment Login