5BARz CEO Issues Letter to Shareholders
January 13 2015 - 7:00AM
Business Wire
5BARz International, Inc. (OTCQB: BARZ), (www.5BARz.com)
("5BARz" or “the Company") a technology leader in the cellular
network extender industry, has issued the following letter to the
shareholders:
Dear Fellow 5BARz Shareholders,
Technological advancements and progress in the mobile culture is
at the center of many important discussions today. The number of
mobile devices has now surpassed the global human population
according to OpenMarket, with nearly 90% of consumers owning a
mobile phone. More than anything else, this is the year that mobile
phones will be used more than all other devices in the market. As
the industry continues to focus on the proliferation and reliance
of the mobile phones, I’m proud to say that we are engaging in
larger discussions on capturing the lion’s share of the market
opportunity with our product development, which is now entering
into commercialization.
We begin 2015 at 5BARz preparing for the commercial rollout of
our ground-breaking product, the 5BARz Network Extender. We had
many achievements and accomplishments in 2014 despite the broad
challenges we faced associated with developing our revolutionary
products. Nevertheless, with our exceptional engineering team,
headed by our Chief Technology Officer Naresh Soni, we were able to
successfully complete the development of our Network Extender,
generating results from independent field trials that far exceeded
our previously published performance objectives. The Network
Extender not only demonstrated a definitively improved mobile
experience for the consumers, but is also the first ever,
single-box, integrated, plug and play product in the industry. Now
that we are ready to bring the Network Extender to market, and the
fact mobile phones are used for surfing the net and streaming music
and video, the demand is stronger than ever for seamless clear
strong signals with 5BARz.
I believe that our recently finalized, first generation Network
Extender product will prove to be the best product on the market in
its class. Furthermore, we continue to make new advances at our
innovation lab in San Diego so that future versions of our Network
Extender and other products will position us as industry leaders.
As the massive market for improved connectivity continues to grow
at a steady pace, we are very confident about the future of our
Company and its growth potential as we begin commercialization and
deployment of our Network Extenders.
Please find below, a review of 2014 and specific highlights of
our activities and achievements that have brought us to this
significant inflection point in our development and also a peek
forward of what we see for the future of 5BARz and outline of our
plans for 2015.
In February 2014, we presented the Network Extender at an
invitation-only gala held at the Majestic hotel in Barcelona,
Spain, in conjunction with the Mobile World Congress 2014. A video
of the product launch is available on our website www.5barz.com.
This event was attended by many top-tier mobile carrier executives,
shareholders and other industry luminaries and telecom executives
who openly expressed their excitement for our cellular network
extender product. We met with many tier-one mobile carriers from
around the world and in the ensuing months actually established
strong working relationships with seven tier-one carriers based in
India, Africa, Europe and Latin America. Furthermore, we have
either formed, or are in the process of completing the formation of
our first three operating subsidiaries in India, Africa and Latin
America. We will be focusing the vast majority of our business
development efforts in these regions during the first half of 2015.
To that end we were happy to announce, in late summer, the hiring
of Marcelo Caputo to serve as CEO of 5BARz Latin America. Marcelo
had spent the last 17 years working for Telefonica and most
recently served as it’s President and CEO of Telefonica USA, making
him the most qualified executive to run our Latin American (LATAM)
division.
Road Warrior
We also began 2014 by shipping 1,000 units of our Road Warrior
devices to Mexico from our manufacturing partner in the Philippines
with the objective of completing the sale of a total of 16,000 Road
Warrior devices. Getting the product imported, obtaining the
necessary approvals, and forming our distribution infrastructure in
the country proved to be extremely difficult and lengthy to
complete. After nearly nine months, we were ultimately successful
in accomplishing this task. We also recently announced that we have
begun working with Grupo BTMex of Mexico City, given their
specialization in commercializing top electronic brands in Mexico.
We are confident that together we will be able to grow the Road
Warrior business into Mexico in 2015. We believe the Road Warrior
is the best automobile cellular booster product in the market in
Mexico today, and we look forward to announcing our sales results
in the coming months.
Intellectual property
In addition to our three existing patents, in 2014 we filed
three additional provisional patents and have seven more patent
applications in process as we continue to innovate. In the coming
year we expect to file eleven new provisional patents, further
building the Company’s IP asset portfolio, creating a competitive
advantage, and adding shareholder value to the company.
Financing
The Company’s recent developments have not escaped the notice of
the investment community. As a result, we also have developed
working relationships with some tier-one investment banks and
associated bridge financing arrangements are in place and
expanding. This additional working capital will facilitate the
global corporate roll-out of our products in 2015, a year in which
we are expecting to achieve sufficient cash flows from operations
which would not only further grow shareholder value, but also clean
up our balance sheet and improve shareholder equity.
Results of Operations
In 2014 we raised just under $5 million to fund operations. We
will be delivering our annual audited financial statements in early
March.
2015 and Beyond
I believe that 5BARz products will have a significant role in
improving cellular connectivity for consumers as the need to stay
connected is now more relevant that ever. Our vision is clear and
our strategy is progressing very well. I am confident that we will
achieve our primary vision of providing an improved mobile
experience to mobile consumers around the world. I’m proud of our
accomplishments thus far and am excited about what the future holds
for 5BARz. We thank you for your support and look forward to
providing you with our next update.
Yours truly,
Daniel BlandChief Executive Officer
Legal Notice Regarding Forward-Looking Statements
The information contained in this release consists of
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. These
statements may involve risks and uncertainties that could cause
actual results to differ materially from those described in such
statements. Such forward-looking statements involve known and
unknown risks and uncertainties, including all business
uncertainties relating to product development, marketing, market
acceptance, future capital requirements, and competition in general
that may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
The Company is under no obligation to (and expressly disclaims any
such obligation to) update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
IRTH CommunicationsRobert Haag,
866-976-4784barz@irthcommunications.comorIntegra Consulting Group,
LLCJeremy Roe, 925-262-8305jeremy@integraconsultinggroup.com