Tadpole AGM - What's to come?

Two announcements came from Tadpole on Friday; the AGM date set for 14th June 2007 and the Interims (for the 6 months up to 31st March 2007) on 15th May.

Following previous years where the shareholders have had to practically beg for either of these to come out before that last possible day, it made a pleasant change to get pre-notice of both. For me personally it gives me a better chance of getting cheap flights to go down to London to attend the AGM and for pre-announcing the interims; it sends a better message to the market of their re-newed either confidence or position. Let's hope it's both.

I thought I'd take a look back at the interview I did recently with Peter Bondar and see if we can expect anything interesting from the run up to and/or the AGM. The blue italics are his comments, which I have heavily edited just so that I can comment on them, but you should read the interview to get the full context. My opinion or comments are in black beneath each comment and should in no way be read as anything other than my own opinion.

[subject - MMS2007] ......we did get some leads and it gave us the chance to network with some of the industry’s key players.

Too early to expect any results from this as yet, but it will be interesting to see how their attendance at this event is covered in the forward looking statement from the directors.

[subject - is gaming still on the radar] We are talking to some games orientated companies about using our technologies as part of their solutions. ....our Systems Integration model...... the Enterprise sector...... we see that there are sectors we can offer a strong and compelling offering, we are actively working those sectors.

Gaming may still be on the radar, but all traces of the partners, current deals and affiliates for this sector have been removed from the Endeavors website. Is this because they intend having a 'micro site' to deal with the StreamFlow section of the product offerings?

Meanwhile having dug around on google at the games sector I see that several companies are looking at retailing online game downloads or ads in games and even psychological profiling for advertising which I'm sure StreamFlow could handle on all fronts.

http://news.spong.com/article/12545?cb=129

http://www.gamersmark.com/news/2007/05/1/9348

http://www.escapistmagazine.com/news/view/71566-Its-OK-to-Advertise-If-We-Like-You

http://technology.guardian.co.uk/news/story/0,,2078061,00.html?gusrc=rss&feed=11

[subject - activities in Japan] Softbank (who acquired Vodafone Japan) are probably our most energetic and demanding client......... just because things look quiet doesn’t necessarily mean that nothing is happening.

I think it is interesting that part of his reply pointed out that Softbank had acquired Vodafone Japan, was that on purpose, who knows, but having looked as the Softbank Mobile Corp website they offer software upgrades by download which currently takes 20 minutes - could that time be cut down with AppExpress? I'd hope we are looking at their mobile download market - it's huge. Maybe in time we'll work our way over from their games site to there.

[subject - MS and Citrix settlements] The terms of the agreements at the request of our licensees is strictly confidential. I welcome our more conservative assessment of our situational analysis and our forward looking statements. Better to impress than disappoint..... I know that both these agreements create an environment that can only benefit Endeavors.

He welcomes the conservative assessment (presumably from the Trading Statement) and better to impress than disappoint. Well here's hoping that the interims don't disappoint, but hell they can't be brilliant let's face it. Any improvement will be worth seeing though.

[subject - house broker & brokers note] There are a lot of activities in the corporate development arena which David is leading...... I’m sure we will see some ‘outputs’ of this in due course.

This is something I'm getting quite agitated about - we really need to see the backing of our House Broker and the issue of a brokers note just to remind other brokers and institutes that Tadpole has a pulse, however weak it is. This is definitely something I want to bring up at the AGM. It's imperative that something with the right company details on it goes out.

[subject - taking a permanent role] Yes potentially, as always, the devil is in the detail. I’ve always said that I would be willing to ‘follow through’ if required.

It's interesting that he would consider a permanent role and also I personally feel that it is the kind of continuity that we desperately need in Tad. It would be a shame to have the progression Peter seems to have made in the short time he's been with Tad thrown into a turmoil again by more changes. Companies buying a product like to see a little consistency and so would I.

[subject - application free PC sales] Some vendors will offer products that stream operating systems and applications! I think we could see such devices in the next few months.

If this is the case then it will be a huge market for streaming and although there are competitors out there for us - we hold the patents and a nice steady licence fee would do nicely from the sales we don't pick up.

[subject - off the shelf solution] Can we discuss this later this year? Maybe you would like to come to the AGM? Seriously this is a logical extension and has been an evolving part of our product strategy for some time.......Stay tuned

This answer interested me..... discuss later this year...come to the AGM? Is there going to be some sort of announcement at the AGM - an unveiling of an off the shelf product? Or am I reading too much into that. hmm

[subject - Tad's survival and the future] I knew that Endeavors could, should and would be rescued...... I personally think AppExpress is a great product, its pretty mature so relative to other products its reliable, scalable and robust.......we are repeatedly told that ‘out of the box’ AppExpress is ‘better’ than the other guys. There are significant opportunities emerging.....There are also dilemmas; shorter term profitability and possible shareholder satisfaction versus larger, longer term investment with potentially bigger payoffs.

What I like about the above statement is that it's in the present tense - he knew it 'could, should and would' be saved. That sounds confident to me of having taken the first hurdle but having more to get over to be considered a success.

I always read between the lines on anything and sometimes I'm right and sometimes I'm wrong but I'm looking forward to the second half of the financial year having more than one announcement - both in product and deal terms. We have had a drought for 2 years, but the sales guys MUST have been talking to companies in that time, so something could come to fruition at any time.

If nothing else - Peter has got a buzz going again with the shareholders, there is the excitement of progress being made in the air.