ALBUQUERQUE, N.M., Nov. 19, 2008 (GLOBE NEWSWIRE) -- AccessKey IP, Inc., (Pink Sheets:AKYI) CEO, George Stevens, issued a letter to shareholders today. The letter reads as follows:
A MESSAGE TO OUR STOCKHOLDERS
I find it extraordinary that the stock price continues to decline for absolutely no apparent reason. Look at the positive announcements that have been published in the last year. Why wouldn't one consider the company to be on strong footing? Perhaps, the market views the company as some sort of high wire act with no legitimacy. It's true the markets are coming under intense pressure, but we're talking about a penny stock with a positive upside. Let me take a moment and review some of the actions taken by this company and its accomplishments especially when the stock prices were around seven cents two years ago with no saleable products, just some office furniture.
1. The middle of this year we entered into a Joint Venture Agreement
with CSI Digital to develop and engineer a Set Top Box product
that will have appeal to multiple segments of the market. From an
engineering perspective, the initial box is complete and within a
short time will be marketed to a variety of vertical markets. This
revolutionary product upon final completion will be marketed in a
direction that will stand the Set Top Box market on its head.
2. Months ago, a new corporation was formed, wholly owned by
AccessKey, specializing in the development of consumer
electronics. The first product, the InCharge, has been approved
for use with all the applicable certifications as well as a patent
pending. It is only being sold through distributors, some of the
largest in the world, and not directly to the "big box" stores.
Although we are contractually prohibited from disclosing 'who' the
retailers are, we can announce that the entire first shipment
available to retailers and etailers throughout North America have
been completely sold out! In addition, TeknoCreations already has
developed new products intended to be marketed through the same
distribution channels. Other products are currently on the drawing
board. Etailers are picking up our products and advertising them
on some of their websites. Go to our website and look at the names
listed as "Where to Buy".
3. In order to prepare AccessKey for the future growth of its
businesses, we recently announced a stock buyback initiative and
is preparing the company to be listed on the OTC/BB. Subject to
and contingent upon insider trading regulations, shares will be
purchased on the open market and in block sales from private
investors. I know everyone is anxious for an update on the move to
the Bulletin Board. We are progressing with the initiative.
Although the timing of the move will not be affected, we have been
advised by our auditors to have our books audited through year-end
rather than audit through Q3 and Review thru year end. We believe
this will not only save the company audit fees, but will be looked
upon more favorably by the SEC for their review.
We have orders and products that are worth more than the damn market cap of the company. Why is that? What drives people to continually dump the market on this stock? Is it a day trader mentality? Take a typical day, where a million shares are traded in AKYI, 800,000 is selling and 200,000 is buying, the stock maintains a status quo level, then someone comes in and buys 5,000 shares and the price jumps 25%. This makes absolutely no sense to me. Or an individual sells 100,000 shares at .01 cent, when we just put out an announcement that shows profitability and a tremendous margin.
Whatever the reason, you or a group of people are damaging the currency within the company. Do you understand what currency is? And no, it is not money, it is the ability to use an asset to continue to grow. Obviously, this same group does not give a damn about the company, its stockholders, its success, nor its employees. All they care about is a fifty dollar return for one day.
So let me ask a question out loud, why should we continue to pursue the OTC/BB initiative, absorb the expense for same, redraft and rewrite all of our debt instruments with our creditors, when the actual value of the company is tied to our public stock? For some of you it is just a short term stock play. Instead, you should be asking yourself what an investment really is and is the information given to the market legitimate or smoke and mirrors. Do us all a favor, if you are a short term investor, sell your stock and go park your money in something that will give you a small overnight return.
Why not just take the company private? At least then the profits will be used for the continuation of all of our initiatives without being worthless in the open market and without having to deal with a group of people who just want to realize a short term profit with no consideration of the company.
I'm sick and tired of being asked questions from stockholders to which I do not have the answers relating to price per share. Company related activities, absolutely, but stock market questions allude everyone, including me.
I personally intend to buy company stock on the open market to add to my portfolio, which requires a legal review due to my insider status and is subject to and contingent upon insider trading regulations.
I will plan and execute something to change the perception or activities within this stock, I owe it to the long term investors and those individuals that believe in our progress.
Sincerely, George Q. Stevens Chairman
About AccessKey IP, Inc. AccessKey IP, Inc. is a developer of cutting-edge technologies and best-of-breed products tailored to address the market opportunities created by the explosive growth of digital communications, entertainment-related services and specific consumer electronics platforms. AccessKey IP's AccessKey(tm) products, powered by the Company's patented technology, provide complete access to the coveted "Triple Play" Set Top Box (voice, video and data) and "Quadruple Play" Set Top Box (voice, video, data and wireless) offerings of cable, telecom, satellite and broadband service providers. The Company's AccessKey Home(tm) and portable flash drive-sized AccessKey PC(tm) allow subscribers to "channel surf" streaming "HD Quality" television content (IPtv), navigate the internet, watch Video on Demand (VOD) offerings, play video or internet-based games, listen to music, make phone calls (VoIP), video conference, run a full array of computing applications, securely store data and more, all from a single device and service provider network. Its' wholly owned subsidiary TeknoCreations was founded to participate in the explosive growth of Consumer Electronics and Business security needs, TeknoCreations designs high quality products with attractive pricing to enhance the consumer's favorite electronics products and the expanding security needs of corporate America.
The AccessKey IP logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4945
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of AccessKey IP, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR INVESTOR INQUIRIES: Please visit the Company's website www.accesskeyip.com, or contact: Bruce Palmer, 310-734-4254.