Letter from the President
As I stated in my last letter, we are very keen to bring our newest technologies to market and to place the company on the soundest possible financial footing. In furtherance of these two goals, we’ve been carefully examining ways to get to market faster and have opted to move forward with a more aggressive development plan that entails utilization of third party developers and technical licensing arrangements with leaders in certain functionalities.
In order to conserve our resources for this effort, I have cut our in-house development and Q/A staffs by a significant amount. In effect, we are trading the opportunity to create all proprietary code for the speed and cost savings that come from using open source materials and the expertise of development partners.
Our license renewal rate remains high through the first quarter and our dedication to our current InfoWorkSpace customers is unabated. Demonstration activity for new potential DoD customers has increased and our IWS system has recently deployed to Asia with the Navy SEALS.
It is also the direction of our Board that we will work to realize the value of Ezenia’s financial structure in partnership with other businesses. As potential in this direction develops, we will provide additional detail to our shareholders.
Although there is always a certain amount of personal dislocation involved in changing direction in this manner, it is incumbent upon the management team and the Board to move the company rapidly in the direction that promises the best return for our shareholders. For the duration of this year, it is certain that Ezenia will be moving faster and with greater agility than ever before and we anticipate positive results from these efforts.