Chapter 53
2000 February 16-28
Index with links to the other chapters
This remarkable one-day rise in valuation was completely ignored by the Nova Scotia media, even though the event was brought to their attention within hours. This was at a time when there was intense and continuing media coverage of the astonishing valuations occurring almost daily among the Internet companies listed on the NASDAQ stock market in the United States. But when a Nova Scotia Internet company achieved a performance that placed it at the top of the Ten Companies With Greatest Percent Increase list for the Toronto Stock Exchange for that day, the local media simply were not interested. Television stations were notified in plenty of time for the 6:00pm news the following day, and newspapers were notified more than six hours before deadline, but nothing whatever was reported here that day or any time later. No doubt they would have carried the item if someone in Toronto had written it up and put it out on the news wire. |
Witchity is a Bermuda-registered company with its operating headquarters in London, England. It was specifically formed to pursue the deployment of Internet Call Manager service in all countries of Europe. Witchity has a non-exclusive license to offer Internet Call Manager throughout Europe as part of a deployment agreement signed with the Corporation on 1 April 1999. In addition to the initial license fee associated with this agreement, the Corporation will be paid by Witchity on a per subscriber, per month basis. The Corporation is committed to pay Mr. J. Kelley Fritz, the Chairman and Chief Executive Officer of Witchity, royalties equal to 10% of the gross profits from the sale or licensing of the ICM technology in all countries that are members of the International Patent Cooperation Treaty, excluding Canada and the United States, to a maximum of $250,000. Up to 6 October 1999, no such royalties have been paid to Mr. Fritz. Mr. Fritz, a resident of Tortola, British Virgin Islands, with 1,777,151 shares is the largest shareholder, and is a former director, of InfoInterActive Inc.
In December 1997, the Corporation concluded a significant revenue-sharing agreement with Cincinnati Bell Telephone Company to launch Internet Call Manager in the United States. Since the beginning of this marketing plan in the fourth quarter of 1997, the Corporation has successfully entered into trial, revenue-sharing or sales and marketing agreements with several major telephone companies, including GTE-Internetworking, a unit of GTE Corporation, and Bell Atlantic Network Services (see "Business of the Corporation - Strategic Alliances" page 9 in the Preliminary Prospectus dated 6 October 1999, available in the SEDAR website). According to the IDC Report (see "Business of the Corporation - Industry Overview" page 17 in the same Preliminary Prospectus), Internet penetration is now estimated at approximately 32,900,000 households in the United States alone, and as a result the Corporation will have access to a large and growing customer base. In addition to the strategic partnerships with telephone companies, the Corporation continues to attract increasing numbers of customers through direct marketing and strategic partnerships with Internet service providers, principally in the provinces of British Columbia, Alberta, Ontario and Nova Scotia.
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Wayback Machine http://web.archive.org/index.html "Use the Wayback Machine to view web sites from the past." History of Nova Scotia, Chapter 53 The Wayback Machine has copies of this webpage from the early days: Archived: 2001 June 19 http://web.archive.org/web/20010619113846/http://epe.lac-bac.gc.ca/100/205/300/nova_scotias_electronic_attic/07-04-09/www.littletechshoppe.com/ns1625nshist53.html Archived: 2001 November 22 http://web.archive.org/web/20011122053929/http://www.alts.net/ns1625/nshist53.html |
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