RE:RE:LTX outlook The new outlook about google was just posted only in the recent quarter update on sedar, here it is once more:
Outlook
A Minimalist Management Style
After a tumultuous fiscal 2012 where the CEO was deposed and later rehired in October 2012, fiscal 2013 was a year to regroup, refocus, reengineer software, and dramatically cut costs. The Corporation currently has two employees, its CEO and its President & CFO, supported by competent consultants, familiar to the Corporation.
The singular change for Labrador was the recruitment of Bruce MacDonald CPA in March 2013, who started with KPMG, worked with Sceptre Resources and became the Senior Executive at Qbyte/P2 before joining the Corporation. Current management’s ability to “wear many hats” has reduced losses, year over year, by 44% and, in an extraordinarily difficult time for micro-cap public companies, has raised equity and made unsecured loans with insiders that have allowed Labrador to beta release the most exciting software product in the Corporation’s thirty-three year history, wellTrieverTM.
The GoogleTM Connection
For years, customers have requested access to premium Canadian Oil & Gas data through Google. Canada is viewed by the world to be an ideal country to invest in, and Oil & Gas Assets are a prime target. Now, if a worldwide customer enters a township, range meridian or well location into Google, they are taken immediately to the wellTriever web-page. One click and the customer is taken to the well(s) on a Google map. As the Corporation is undercapitalized, R&D has been selective but, nevertheless, wellTriever’s functionality provides critical, graphical information that anyone interested in the Canadian Oil & Gas Industry will find useful. Comparing wellTriever to AccuMapTM is ill-advised. AccuMap is an advanced, highly successful Oil & Gas analytical tool, while wellTriever provides premium data visualization “snapshots” for customers prospecting and “checking-in” on what’s going on in the Canadian Oil & Gas Industry.
Thus, it is not surprising with the power of Google that, without any wellTriever sales or marketing, 64% of thousands of visitors have come through the “Google Gateway”. Revenue has just begun but 30% of it is from the US, most of which is from New York, the financial center of the U.S. The city of Calgary is the biggest visitor but Toronto/Ontario, Canada’s financial center, has now surpassed the province of British Columbia, as second largest Canadian visitor. U.S. visitors have doubled from 10 to 20%, from January 1, 2014 to February 21, 2014, and paying customers have increased by 43% comparing January, 2014 to the first twenty-one days in February, 2014. Although limited, the user interface is continually being enhanced and streamlined, showing immediate results in increased visitors and visitor to revenue conversion.
It is early days but wellTriever’s global market transcends the normal boundaries of traditional Oil & Gas data retrieval software.
Alternatives for Financing being Evaluated
Raising capital is a challenge for all companies in today’s markets so LTI is evaluating selling certain assets to minimize dilution and finance and market wellTriever. Material events will be announced appropriately if and when they occur.