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PRODUCER UPDATE FROM CRAIG

By: Craig Lillard    0   0
Hi Revo Producers,

I am late on this payment update and I completely understand any and all frustration due to delayed communication on my part.  I have delegated emails to Larry and Laura for the time being as I am working on the bigger picture items I am needing to dedicate my time to.  Additionally, I am having to manage some unfortunate family health issues that have made things a bit more challenging than usual.  I am hoping I will be able to address any messages I need to as soon as I am able.

As I mentioned in my previous video last month, while Revo was starting to gain some ground the first of 2015, we hit a pretty significant traffic/revenue drop again at the end of Spring and at that point I felt that I needed to jump into fund-raising (trying to raise money via investors, partners, co-founders, etc.) which has led to a lot of meetings, planning, spreadsheets, etc.  I also unfortunately had to cut back on some employees that we really needed, but didn�t need to be spending money on.  Because of this I have had to delegate emails and tickets to Laura and Larry who are working to cover things on the communication side.

If you haven�t heard from me, it isn�t because you are purposefully being ignored.  I am just a bit overloaded at the moment and hopefully things will level out soon.

We do have a small amount of funding coming in this month and because of that plus some other expenses I have been able to cut out this month, we should be able to get monthly payments on time starting later this month.  However, that doesn�t solve any past due amounts.

While I am still talking to investors, I am taking things to another level by also talking to potential acquirers.  While the last couple of years have been up and down, the last few months have been more so.  In a previous post I mentioned a competitor, ClipCanvas who went through a similar situation.  Cato, the CEO worked as hard as I am to solve the problem, but was not able to secure outside funding.

He did an excellent job of finding another company which took over ClipCanvas and took care of the outstanding payments as well as invested funds into ClipCanvas for future growth.  While that was a very difficult thing for Cato to do with the company he built and grew from the bottom up, I have a lot of respect for Cato being able to make that transition.  While, this is obviously not ideal, it is a solid option if it is needed and I am pursuing it as an option as well. There is a lot of value in RevoStock, our producers and content and while I have loved the journey, I really want to get these outstanding payments resolved.  If the way to do that is by partnering or merging, so be it. 

Finally, we have, in the past, required you to email us to close your account.  This was a security measure to keep someone logging into your account fraudulently and deleting your files.   

However, I am going to modify this and allow you to close or pause your account on the Edit Profile page.  I will let you know when this feature is up.  However, I hope you will hang in there with us, as removing content makes may make it difficult for us to get an investor or acquirer and therefore difficult to get past due payouts resolved (it�s a bit of a Catch-22), but I totally understand otherwise and appreciate you working with RevoStock. 

Thank you so much for your support and patience!

Craig