*Disclaimer:
This interim update is intended to provide informal information regarding the status of iSIGN and its general activities. The information contained herein is not intended to be a source of advice or credit analysis with respect to the material presented, and the information contained in this update does not constitute investment advice.
Dear Shareholders, we know we’ve been quiet for a while and we thought that an update would be helpful to give everyone some insight into the goings on at iSIGN. We aim to put out an update every few weeks and share some insight into what’s new, what’s coming, and what’s currently happening as we move forward.
With this being said, here is the first of our updates.
Head Office Relocation:
ISIGN has closed the location at 45A West Wilmot, and relocated administrative duties to a coworking space located at 105 West Beaver Creek Rd. This move is in keeping with the new direction of the Company and allows us the flexibility to attract and accommodate new young talent when we have to ramp up operations as our sales and revenues increase.
Since projects have a tendency to have heavier demand on resources at inception and implementation, and this demand tails off as the project moves into maintenance mode, we have realigned ourselves to be able to bring on resources that fit the requirements at hand. This also aligns with our philosophy around resource usage and allocation, keeping the company lean and agile, and allowing us to scale up and scale down as demands ebb and flow.
Current Masthead:
A lot of changes have taken place in the last six months, some of which not all shareholders may be aware of. Here is a list of the current contacts within the organization:
Remko Noteboom is our interim Chief Executive Officer and brings with him decades of experience around application and product development. Remko’s knowledge is instrumental in our ability to create new applications and expand our offerings into new markets.
Bob MacBean is our acting Chief Financial Officer and his years of experience in the role provide a sober eye toward the financial health and plans of the company.
Rod Milne remains as the Company’s Controller and chief administrator/coordinator. Rod’s efforts are instrumental in keeping the organization moving and maintaining compliance.
Principal Advisors:
Robin Strachan and Mario Salerno have been working with our organization to complete the deployment of the current pilot projects, as well as providing expertise and executive leadership toward the company’s development roadmap.
Board of Directors:
After much review and restructuring, the current board of directors is settled and fully committed to bringing the company into the new year with renewed enthusiasm and vigor. The current Board of Directors is as follows:
David Beck, Chairman – brings decades of experience in the institutional finance sector and has been invaluable with regard to helping create synergy and stability in what has historically been an inconsistent board structure.
Bob MacBean – Bob has years of experience as a CFO and brings a qualified perspective to the company, providing clear direction and insight with regard to financial matters, and giving input to decisions regarding fiscal planning and funding structures.
Tony Peticca – our board’s newest member comes with an extensive background in marketing and business development. We look forward to his input with regard to branding and marketing strategies, we are certain his presence will prove extremely valuable in the upcoming months.
Remko Noteboom – as mentioned earlier, Remko is currently acting as interim CEO, and his analytical perspective has given the company direction and guidance under the current circumstances, allowing us to make changes to the overall direction of the product path, and providing a lean perspective with regard to development, deployment, and fulfillment.
Alex Romanov resigned from the board of directors effective September 28, 2022 and as of that date has stepped away from any and all duties, formal or informal related to iSIGN. We would like to thank Alex for his efforts over the years and wish him well in his new ventures as we steer the company in a completely new direction.
Current Pilot Projects:
Our pilot projects in Mexico and Florida are currently underway and results are aligned with expectations. While we have encountered some challenges with procuring the appropriate equipment and resources, we have been able to find workarounds to help us fulfill portions of the project and have arranged an extended delivery timeline to allow us to complete the full deployment.
In anticipation of positive results, we are currently exploring collaborative options with hardware vendors so that we can ensure fulfillment of customer requests as these pilots move into full-scale deployments.
Items of Interest in the Works:
We have been working steadily to expand the functional footprint of the initial portion of the software platform that was acquired earlier this year. Since acquiring the platform, we have been making significant upgrades and changes to the base code, reducing power consumption, processor demands, and optimizing the data received from our devices.
These changes have enabled us to provide solutions that function within the parameters of IoT devices, while providing intelligent functions normally reserved for traditional high-bandwidth/high-power microcomputers.
The first iteration of our enhancements will be made available before year’s end, and will be made available as a direct sale model which is in keeping with our intention to bring all customer interactions in-house.
Which brings us to our next bit of news, While the reseller model has been part of iSIGN’s DNA for many years, the model itself does not allow us to realize our true growth potential. With this in mind, we will be moving our existing resellers to a joint-venture/partnership model, and no longer be bringing in new resellers. iSIGN will focus its efforts on developing an internal sales team, and will see to have direct B2B and B2C relationships moving forward.
We will leverage the experience and expertise that we have on our Board and with our advisors to develop a marketing strategy that aims to bring attention to our capabilities, and generate further interest in our products and services.
This concludes our first update letter, and we look forward to bringing these out on a bi-weekly basis moving forward.
If you have any questions, please forward them to [email protected] and we will do our best to provide you with a response in the shortest time possible.
See you in two weeks!
Thanks from all of us at iSIGN,
