An influential new friend called me last week and said some things to me that really reminded me about the power of what we are building. At some point in the 2000’s, the tech world took the lazy route. With all the capabilities, who would have ever thought that we would have been presented with a flat, two dimensional view of our world. Directions with lines, pin markers and no landmarks of any kind. This wise man pointed out to me that the power of what we’re trying to accomplish lies in our core competency. We’re not an ad agency, we’re not a web design firm, we’re a travel technology company with over 30 years’ experience in Hospitality. We know what the clients want, we know how they spend their money, we know who their customer is, and we have the network. We’re talking about a uniqueness that this segment hasn’t seen in over 30 years, and there’s true power in this. We’re building this for ourselves, but my instincts tell me that if we stay this course, there will be plenty of people that want in. We are onto something that will change the Hospitality Industry forever.
We are currently right where we need to be with the production of ZoomedOUT, our vertical slice has been done for some time now and we’re in full production. I’ve been meaning to update you on this over the last few weeks, but I’ve been diligently prepping for the next phases of the product. Our market price isn’t where we believe it should be based on the great news over the past months, but we also can’t control market whims, so we are sticking to the plan which builds a continually growing solid shareholder base who believe in the product as much as we do.
ZoomedOUT continues to progress with new doors being opened every day, both with partnerships and unsolicited investment opportunities. We have announced a partnership with Google and that has been one of the highlights thus far in our history. It has been a great relationship to have, and it took lots of time and effort to cultivate. We have been working with them for months now, providing feedback on their product, and they have been of great assistance in helping us get the product to where we need it to be. The word partnership is used twice in the recent release, and that’s their words, not mine. These types of relationships are key to this product.
We have shared so much of ZoomedOUT’s potential; the business model, the presentation deck, the revenue projections, even the production timelines. The costs just to build a project of this magnitude are immense, building the platform, ramping up of labor costs to sell and market this product, and of course, one of our biggest expenses will be user acquisition. Users are the number one thing that investors bring up while reviewing the program, and with Google’s help, we have a plan for acquisition of users. Strategic relationships and using other people’s market power are a key focus for me. From large corporations to convention and visitors’ authorities, there are plenty of opportunities to bring on partnerships because of the power of what ZoomedOUT is. Bottom line for us is that big data comes from many sources, some paid for, some sewn through good relationships, partnerships, and sponsorship opportunities. My belief is that we will attract the attention of other potential partners with deep pockets. We have had great success raising funds recently and will continue to do so as needed because this project, done right, can create the kind of revenues that self-sustain growth.
We continue to move our Legacy business forward every year with all the spare time that we have. There are a lot of acquisition opportunities in this space, and everything we do now or in the future has some part to play in the ZoomedOUT project. Our second and third quarters for our Legacy business are typically good but we continue to work on ways to get the fourth and first quarters every year to produce better numbers. To be fair, we cash flow through the winter months very well, and it’s in these quarters that we spend a lot of our time booking and collecting deposits for large events that will happen in the spring and summer. Keeping in mind, we are not allowed to count these as revenues until the customers have come and gone, so most of our hard work in Q4 and Q1 is borne out in future quarters. We have been waiting on exchange approval on our Tripsee acquisition for some time now and hope that happens soon and that we can start to use that product to bolster everything else we do.
We will continue to be strategic in our updates and will continue to create videos that showcase the potential. There’s a lot of time that goes into these updates and each is geared to a specific audience. We will continue to focus on IR during the next few months while exposing the product to traditional media and potential future advertisers as well. I hope to be able to update you on some client onboarding very soon.
These are exciting times for all of us, this product will be amazing, and I appreciate your ongoing support.
Zoomaway Travel Inc.
November 15th, 2019