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We sent you this update because you are a shareholder of LBC Global. Because of favorable reaction to our Fall 2003 Issue, we are sending this Spring 2004 Issue. This update briefly describes some highlights of LBC's growth since the last update. If you would prefer not to receive this quarterly update, send a note to investor-relations@lbcvideo.com and we’ll remove you from the list immediately. LBC Global Web Sites
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Doug Mondo, CEO cdmondo@lbcvideo.com USA: 888-298-5008 International: 714-546-8011 |
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Corporate Structure We had some corporate and organizational changes during the past six months. The name of the company has changed to LBC Global to reflect our growth beyond service to the Legal Profession. Also, the three operating divisions Have been re-named as LBC Video, LBC Conferencing, and LBC Training and Education. The operating division previously known as Internet Streaming and Archiving has been integrated into The LBC Global corporate structure and provides its services to all three operating divisions. These changes have enhanced management control while improving operational costs. LBC Conferencing At this writing we have signed contracts with the San Francisco, Contra Costa, Utah, and Rhode Island Bar Associations. We are following up with The Bar Associations' member lists, and have shown a steady increase in the number of attorneys signed up as Conference Moderators. One of our major events last December was a live seminar hosted by Fiberlink. This conference reached between 200 and 300 participants and had three moderators: one on the East Coast, one on the West coast, and one in Europe. The conference was recorded and employed LBC Conference OS to stream it to participants on demand. The event was so successful Fiberlink plans to establish a monthly conference. Learn more about LBC Conferencing's services and ConferenceOS. LBC Video We completed the acquisition of Video Central, a Los Angeles video production company. The profitable operation has been successfully integrated into LBC Global. In January, Video Central exceeded its projections by 20% in annual revenue in video production. We have issued a Letter of Intent and are now negotiating the acquisition of two Western U.S. based video production firms. We are continuing to pursue opportunities for acquisition of our current 32 nationwide video production affiliates. LBC Training and Education We have finalized the Letter of Intent and are consummating the acquisition of True Colors Communications Group, a personality based education system. LBC will web enable this education system for worldwide consumption. The True Colors concept is used for K-12 schools and adult seminars and is fully accredited through City University in Renton, WA. |
The True Colors Communications client list includes Microsoft, Disney, Pacific Bell, Ford Motor Company, and school districts, colleges and universities across North America. Financial Update Assuming the successful completion of pending video company acquisitions and the acquisition of True Colors Communications, 2004 revenue can reach US $5 to 7 million, with strong revenue growth projections continuing in 2005. Thaon Dividend Update Thaon is now PracticeXperts (ticker code PXPT). You hold all of your original shares in Thaon/PracticeXperts and were given a dividend in LBC in addition to your Thaon/PracticeXperts holdings. LBC Is not associated with Thaon/PracticeXperts. Your LBC shares were calculated based on your percentage of ownership in Thaon as of February 14, 2003. Based on that percentage, you were given your portion of the 300,000 shares Thaon gave as a dividend. Your entire current LBC share holding is held electronically. No LBC share certificates will be issued. You will have electronic access to your shares when we go public. Offering Update LBC is targeting to list as a public company in late 2004. We envision a potential trading price range of US $2.00 to $5.00. Until the public offering, LBC share holders who hold small or non-commercial parcels of shares will have the opportunity to obtain shares off of the market, at a discount to the book value, to achieve a reasonable holding in LBC. We are currently receiving funds for round two financing with an offering of $500,000 maximum in LBC Convertible Notes paying 5% interest annually. The notes, with a minimum individual investment of $2,000, are convertible into Common Stock of the Company at a conversion rate of $2.00 per share. The Chicago Investment Group's Los Angeles office is the investment banker for the Private Share Placement. If you want to participate in the offering, please contact Greg Myers in Los Angeles at 310-478-9777 or via email at gmyers@gocig.com. |
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For questions regarding your shares: CHICAGO INVESTMENT GROUP
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For questions regarding LBC products: John Frederick
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This document contains forward-looking statements made pursuant to the ``Safe Harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including limited product demand, competition, and other risks and uncertainties detailed from time to time in company's reports. The possible impact of competitive business and pricing uncertainties include, but are not limited to, general uncertainties in the marketplace. | |
