A Message to the Shareholders from the President and CEO

Recent world events have caused the failure of a significant financing for the Company earmarked for the development so several business initiatives. These were strategic ventures to provide short-, medium- and long-term financial returns.

However disappointing and damaging the failure of the recent CinemaWorks financing to close, I find the Company’s current vulnerable state ironically both satisfying and inspiring.

Satisfying in that CinemaWorks is now focused on its most promising business initiative, TelePresence. With the skyrocketing price of oil, global warming, the continual erosion of privacy and increased security pressure on ordinary travelers, TelePresence is the “perfect storm’ of global opportunity.

Inspiring, because it appears that management’s persistence during the last two years will now be rewarded. I defer to a man from a previous generation that endured difficult times far greater than our own:

“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

Calvin Coolidge
30th President of the United States

In closing, post an upcoming financing the Company hopes to triple revenue annually during the next two years.

Bill Massey