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Subject:  Reality Bites – Part 3 Date:  8/23/2003  6:55 PM
Author:  SeaPhantom Number:  8042 of 15019

Do not, whatever you do or feel, feel sorry for me. I do this of my own violition, and not because anyone is holding a gun to my head.

This week (two weeks actually) in entrepreneurship…”Hanging on by a thread.”

I admit to posting lots over on the Current Events board since it keeps me current with a lot of the stuff going on in my field of business, and offers an outlet for some of the stress of daily life. Life? The longer this goes on the more it consumes, and the more convinced I am that if I walk away, someone will come along and take advantage of all of the work that's been done, and bear the fruits of my labor.

As I said last time, life as an entrepreneur is never the same from day to day or week to week. That means anyone in any business…whether it's a gym, a storage facility or a consulting business.

One of my senior Board members and close advisor commented that he would stand by me and offer his help and guidance as long as I wanted to move ahead. He then said something that initially shocked me…he said that he realized that the company had become an “obsession” to me…he immediately sensed my surprise and said, “No, it's a good obsession…its an obsession that a successful entrepreneur needs to have.” Maybe that's true. Honestly, I know that at this point, its way too late for me to turn back or second-guess the decisions that I've made leading to here.

On August 12th we submitted technical materials to another very significant governing body when we learned that they were already 3 week into an 8 long week evaluation study leading to a preliminary report in October. My tech guy was creative enough to identify the senior manager at the organization in charge of the study, and spoke with his secretary capturing all of the critical contact information. By 3:00 PM that day, I had emailed the information to the secretary with her promise to print it out and put it in front of her boss the next day. By mid-afternoon Tuesday, we were notified that our material had been including in the task force materials that would be used to write the preliminary report. We were also invited to present our materials at a conference being held in early October prior to the issue of the report (we've tried to “sneak” in a meeting while in DC this coming week, but it doesn't look like it will happen since the agency seems to be quite concerned about appearances of fairness and “fair access” when it comes to business interactions.

We're off to Washington DC on Monday for a one hour meeting on Tuesday with a critical agency that could spell a “thumbs up – thumbs down” for the company by the end of September.


I had mentioned last time that one of the government jurisdictions that we have met with had asked us to do some testing on a material. Of course, the sample was finally sent via FedX to the office on the 12th (when I was out of the office at a meeting in the city); it was on the bottom of a pile of other mail, and not until early this week did I find it after the sender emailed a copy of the FedX records…by the way, preliminary testing done this week suggests that the material seems compatible with our product (of course, my tech guy is still doing testing before he wants to report a positive outcome to the jurisdiction).

The local government contractor company is still ignoring my emails. Frankly, while it's a potentially important meeting, I'm losing interest in pursuing them, and may exercise “other” influence later next week to see if a meeting will ever happen.

Investment Update:
Shifted into “crisis” mode, given the real progress we've made and the ever dwindling cash in the account. Contacting everyone, including those who have turned us down in the past (and even those who we have told to “take a long leap off of a short pier”).

The paperwork for the “best deal in town” was finally sent to me a week ago. As usual (or as "expected", the terms and conditions bore little resemblance to those described verbally. Attempts to have a conference call with the “funder” and my CFO and I went no where this week, although we did get a communication that the guy is going to be available next week. The meeting that I mentioned two weeks ago that I thought would go no where, seems to have been a better meeting than I thought. More will be known mid-week when my associate calls them.

The “benefactor” hasn't been heard from yet (and I agree with my friend who's contact she is that people of her net worth don't like being pressured into an investment of nay size, so we're leaving her to her own timetable).

Meeting this coming Thursday with one of those “long leap” guys.


The Landlord actually sent us a new lease. Even though there's a rent increase, I'm still only paying $7.50 per sf for 2200 sf and my tenant pays approximately 85% of it…even though we're still six months behind (sort of tells you how soft the commercial real estate market is).


Disclosure: Our patented material could have implications on national security as well as having dual-use (meaning: commercial and government application) value.
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