PORT JEFFERSON, NY / ACCESSWIRE / May 18, 2015 / Net Savings Link, Inc. (PINKSHEETS:NSAV) today has provided details through its CEO, Steven Baritz, on a strategic planning schedule that has the approval of all of the officers of NSAV and the officers of its recent acquisition, Pyrotree Software Inc.
NSAV is announcing its first formal Board of Directors meeting since its acquisition of Pyrotree Software Inc. Steven Baritz, the CEO of NSAV released the following comment: "NSAV will hold a Board of Directors meeting, which will include the officers of NSAV and their wholly owned subsidiary, Pyrotree Software Inc. on June 30th, 2015, to discuss and formulate a comprehensive strategic roadmap for our growth, revenue, and funding objectives, including a Private Placement Memorandum."
Mr. Baritz continued, "The agenda is being finalized shortly, but the integral components of the meeting will formally analyze all of the various revenue channels and proposals that we are presently entertaining, and moreover, we will be conducting a deep dive into a comprehensive 3 year forward looking funding plan and integrated business plan of NSAV and Pyrotree that will properly organize and prioritize our immediate corporate requirements, revenue objectives, growth opportunities that may present themselves to us, and capitalization requirements." "We have made various Intracorporate proposals toward long term growth and solutions, and we hope to finalize those strategies at the meeting," Baritz said.
Mr. Baritz elaborated further on the issue of capitalization and funding: "NSAV is actively exploring all available opportunities and venues for funding and capitalization by first, using our preferred share classes of stock that we currently have. This is currently our preferable venue of raising funding, and we will have some time to explore this venue with our current and prospective funding partners. These share classes were reserved to create a potentially attractive equity instrument to attract long term funding by qualified investors who aren't clouded with a myopic viewpoint of our current share structure, and rather, can see our viable and attainable corporate vision, and where we believe we will go with the right support from our investors and/or lending partners that would benefit from our growth in a symbiotic fashion."
Mr. Baritz provided some preliminary information on the commencement of the process to issue a Private Placement Memorandum. "We are currently working on a Private Placement Memorandum (PPM) for long term funding, utilizing our preferred shares, with the intent of raising up to $1.5M. We will be releasing more news on this PPM process within the next 20-30 days. For more information on this PPM, please contact our VP of Operations, David Pecoraro, whose contact information is listed below."
"Furthermore," said Baritz, "We are, as previously reported in a prior announcement, now generating actual revenue with retained earnings, which can be used to leverage potential funding options that we are exploring, and furthermore, those earnings may provide self-generated capital that may provide subsidization that may defray our necessary day to day operating expenses, potentially minimizing the need for external funding for those expenses. NSAV is not prepared to disclose the cumulative amount of the revenue that is being currently derived through Pyrotree's products until our quarterly filing, but we are, however, prepared to disclose that Pyrotree's revenues have continued to grow, and our outlook for continued revenue growth through Pyrotree's product channels is optimistic at this time."
Hilart Abrahamian, the VP of Pyrotree provided additional clarification: "We are currently working on several contracted software solutions that we are developing code on, that will provide additional layers of capability and options for our POS system that can actually be applicable for deployment to other industries, besides our current core industry focus. Upon their deployment, this may result in additional revenue channels from our potential customers in those industries as well. Once we know the revenue amounts and metrics from these systems, we will publicly disclose them as they are added to our financial statements." Mr. Abrahamian continued, "Additionally, we are actively engaged in discussions with various potential partners regarding the Reselling, Licensing, and Wholesale Marketing of our products for additional distribution and exposure of our branding and product line."
About Net Savings Link, Inc.
Net Savings Link, Inc. owns and operates a wholly owned subsidiary, PyroTree, Inc, a software firm that provides tracking and traceability software that incorporates the use of proprietary Radio Frequency Identification (RFID) technology, along with customized website designs and a fully integrated "seed to sell" point of sale (POS) platform for the growers, distributors, collectives, vendors, retail establishments, and patients in the medicinal and recreational cannabis space in the States where it has been legalized. People interested in learning more about Pyrotree, Inc should check back with the company at its website, www.Pyrotree.com.
DISCLAIMER: This Press Release may contain certain forward-looking statements. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
Contact:
David Pecoraro
Vice President of Operations
Email: DavidPecoraro@rocketmail.com
Tel: 814-418-6648
SOURCE: Net Savings Link, Inc.