eCom
eCom.com, Inc.
Advisory Committee Report
October 21, 2003
To
The Board of Directors of
eCom eCom.com, Inc.
The
Board of Directors appointed and charged this Committee with the
task of reviewing the Company’s current business plan, consider
changes and make recommendations if any. This mission was accomplished
and the following is our report.
1. The Advisory Committee (AC) first studied the corporate
structure of eCom eCom.com, Inc. (ECEC) which has been in a development
stage for over two years. We determined that there were too many
projects on going with insufficient funding. In other words, none
were being completed in a timely manner. The Company’s annual
revenue had fallen from 5.2 million dollars to less than .5 million
dollars during this period.
Recommendation:
ECEC should consider concentrating on only its top three projects
which are Software, Sports Auctions and Paintball. All other projects
should be placed on hold until these three are profitable.
2.
The corporate structure should be rearranged to permit for a separation
of these projects, as they are completely different in nature.
The subject projects must be in completely autonomous corporations
under the control of independent management and employees.
Recommendation:
USA Performance Products, Inc. to focus on paintball; MyZipSoft,
Inc. to focus on software; and USA SportsNet, Inc. to focus on
online auctions of sports items.
3.
Since the projects vary so much, it appears that raising the necessary
operating funds has been difficult and will not become any easier
in the future. Investors desire to participate in only one of
the projects but not all three. Serious consideration should be
given to this situation and corrected as soon as possible.
Recommendation:
The three subject corporations should be spun off as independent
publicly traded units. It is our understanding that each corporation
meets the requirements of SEC Bulletin 4 and registration can
be accomplished through the filing of SEC Form 10.
Further,
the AC suggests that each unit consider establishing a business
relationship with one or more established organizations engaging
in the same or closely related field. This could take the form
of a working agreement, acquisition or merger.
It
is the AC’s feeling that the items outlined in this report are
the best way to both attract the necessary investors and partners.
In addition, we suggest that each unit execute a one share for
one share spin off to protect ECEC’s current shareholders.
Respectfully
submitted on behalf of the Advisory Committee, Dr. Guy Lindley,
Robert Munson and Dr. Keith Volstad.
________________________________________
Guy
Lindley Chairman GL/s
This release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform
Act of 1995. Actual events or results may differ materially from
those discussed in such forward-looking statements.
Contact:
eCom eCom, Inc.
David J. Panaia, 561/622-4395
dpanaia@ecomecom.net
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