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From: Perry and Lorae Merritt (plmerritt, hypermall dot net)
Date: 2002.01.07 - 16.44 MST


X-Mailer: Microsoft Outlook Express 6.00.2600.0000

No this isn't what you hoped it was, but I thought I'd update you. (Dan can correct me as needed)

Things are starting to happen. 

We should hear back from our guy in California on Wed. He's meeting with his investors Tuesday or Wednesday. He has the goal of getting a firm commitment by the end of January and funded no later than the middle of Feb. Sooner if possible.

Dan is continueing to push on StorageTek. He and Mitch talked to one to STKs resellers Friday. This guy wants us to present to their technical team next week. Some guy named Ken Willis is on the team. (BTW he sent me an email Thursday asking if I wanted to work in their Boulder office, so I guess he doesn't hate me.)

Garage.com, a venture capital group that we applied to just before Christmas, contacted us last week and want a conference call this Friday morning.

Barry was supposed to meet with Paul (the English guy) Friday last week. I haven't heard anything about that meeting. I believe Barry was going to ask about the initial funding again. He also had an option to ask for funding $30-50K to build a prototype. The benefit to Paul is it shows him we're for real and it gets us moving. The benefit to us is a little cash and we can get started on something.

Dan has been meeting with consultants to continually polish the business plan.

As at least two of you have seen, the first patent doc is written. I'm assuming Kevin and June haven't seen it yet otherwise they would have replied by now. ;-)

Hope this helps bring you up to date.

P


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