Eyemakers Inc. CEO Ernest Remo Issues Letter to Shareholders.Business Editors SAN DIEGO--(BUSINESS WIRE)--Sept. 25, 2001 Eyemakers Inc. (Pink Sheets:EYEM EYEM Every You Every Me (Placebo song) ): CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Ernest Remo issued the following letter to shareholders. Dear Eyemakers Shareholder: On behalf of Eyemakers Inc. I thought I would take a moment to inform you of some of the events taking place at your company...Eyemakers Inc. ("EYEM" or the "Company") Background Under prior management, the Company was in the business of practice management for optometry optometry (ŏptŏm`ətrē), eye-care specialty concerned with eye examination, determination of visual abilities, diagnosis of eye diseases and conditions, and the prescription of lenses and other corrective measures. practices. This business model proved unprofitable. In 1999 the Company opted to enter the business of owning and operating Total Vision Solution facilities, incorporating a wide variety of optical products and services, including eyeglasses eyeglasses or spectacles, instrument or device for aiding and correcting defective sight. Eyeglasses usually consist of a pair of lenses mounted in a frame to hold them in position before the eyes. , contact lenses contact lenses contact npl → verres mpl de contact contact lenses contact npl → Kontaktlinsen pl contact lenses npl , sunglasses and laser vision correction, in one facility. In late 1999 and early 2000, we became involved in a joint venture with ICON Laser Eye Centers Inc. an Ontario corporation with headquarters in Toronto, Ontario, Canada. ("ICON"), which resulted in joint operations A general term to describe military actions conducted by joint forces or by Service forces in relationships (e.g., support, coordinating authority) which, of themselves, do not create joint forces. in Mesquite, Texas Mesquite is a suburb of Dallas located in Dallas County and Kaufman County, Texas (USA). The city had a total population of 124,523 in the 2000 census which increased to 129,902 in the 2005 census estimate. (outside Dallas) and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . Under those joint ventures, ICON was to provide ongoing marketing, advertising and management services relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the joint venture operations. In April of 2001 ICON filed for receivership in Ontario and ceased providing any services to the joint venture operations. Following these developments, EYEM "stepped up" and took over several obligations of the joint ventures, including those for rent and equipment leases. The process of formalizing all these arrangements is almost complete. In addition to operations in San Diego and Mesquite, the Company is expanding to the Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. market and in other geographic markets I believe will be beneficial for the Company. The San Diego Facility. This facility, which consists of 7,200 square feet of prime retail space, is located in the prestigious Mission Valley area of San Diego and is currently the Company's flagship facility. The store is architecturally appealing and conforms to the Company's idea of its Total Vision Solution centers. In addition to an upscale retail optical store, the facility houses two optical lasers, one of which is owned, the other leased, for performance of laser correction procedures. A grand opening under the Company's control as well as a new local advertising campaign planned for September of 2001. Mesquite, Texas. ICON's departure from this facility has necessitated that the Mesquite facility be temporarily closed so that we may redecorate re·dec·o·rate v. re·dec·o·rat·ed, re·dec·o·rat·ing, re·dec·o·rates v.tr. To change the appearance or furnishings of; refurbish. v.intr. To change a decorative scheme. and remerchandise the store. The Company plans to reopen the store under its sole control, with a grand re-opening planned for October 2001. Columbus, Ohio EYEM has currently negotiated a lease with the landlord of this brand new, yet never operated vision center. This store was designed by the same architect as the San Diego facility and although smaller in size, maintains the open and contemporary atmosphere of the upscale California store. The Company plans to open this store sometime in October. Other Locations In addition to preparing its current stores for grand openings, the Company has begun to research and negotiate for additional sites in other cities as well as certain countries abroad where management has relationships and prior business experience. Eyemakers is also currently negotiating joint ventures in strategic locations in the U.S. and hopes to be able to make an announcement in the very near future. Financial Discussion While the down turn in the capital markets has made raising money difficult for most small companies, Eyemakers is actively raising the capital necessary to execute our business plan. While no guarantees can ever be made to capital raising, the Company has raised $100,000 through a private placement led by Granite Financial Group. The Granite placement was completed through the issuance of 1,250,000 shares of restricted common stock and warrants to purchase another 6,250,000 shares at various strike prices. If all warrants are exercised by the holders, the Company could raise up to a maximum of $ 9,800,000. The Company continues to explore other financing alternatives, including joint ventures, that can help us execute our business plan. The Company's Common Stock Currently the Company trades under the symbol EYEM and is quoted on the Pink Sheets. As of Sept. 24, 2001 the closing bid price for the stock was $ .25. The market for the Company's stock is not active and the Company is exploring ways of increasing liquidity for its shareholders. Accordingly, the Company is currently endeavoring to complete audited financial statements for the past several years and to file with the SEC all past-due reports. The Company intends to complete such financial statements and reports and to apply for inclusion of its common stock on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . The Company has also retained SmallCap Solutions Inc., a specialist in micro-cap stocks, as the Company's investor relations Investor relations The process by which the corporation communicates with its investors. firm. Summary As you can see we are operating in exciting times. Due to unsettled conditions in the markets for the types of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. marketed by the Company, we believe there is a window of opportunity for us to successfully bring our services to market, capture a share of that market, and expand to additional markets. Our Total Vision Solution stores are designed distinctly with Eyemaker's branding in mind. Our sales and marketing plan is based on relationship building with our clients, as we can meet all of their optical needs, from eyeglasses, contact lenses, sunglasses to laser vision correction. Feel free to call me personally at anytime to discuss Eyemakers. While I am busy structuring our efforts I can always make time to talk with you, our shareholder. Sincerely, Ernest B. Remo Chairman/ CEO and Sole Director "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Information in this release relating to the future plans or prospects of Eyemakers that are "forward-looking statements" are subject to certain risks and uncertainties that could cause actual results to differ materially, including, but not necessarily limited to, the following: (1) availability of capital at reasonable terms or at all and (2) the ability to locate and successfully negotiate with joint venture partners. Intense competition in the various markets in which Eyemakers competes may result in pressure on Eyemakers to reduce prices on the goods and services it provides. Eyemakers undertakes no obligation to update information contained in this release. Eyemakers Inc. has not timely filed required periodic reports with the Securities and Exchange Commission, though it intends to remedy this situation in the near future. Accordingly, information usually available to investors is unavailable as to Eyemakers. Investors are discouraged from relying on the information in this press release to make any decision whether to buy, sell or hold any securities of Eyemakers. |
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