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Grant Billing, the leading man of an investment group has reached an agreement with Calgary based company Cell-loc, to reorganize and provide a capital injection. Cell-loc will transfer all current technology assets to a subsidiary company, called Techco, where all the shares will be handed to their shareholders on a share per share basis. Cell-loc will move its operations to Techco while an oil and gas company headed by Grant Billing will move into Cell-locs location. The Directors of Cell-loc right now will become the new Board of Directors for Techco, and it is anticipated that the senior management of Cell-loc will become a large part of the management team at Techco. The CEO of Cell-loc, Sheldon Reid, will not make the move with the rest of the board because he will join Mr. Billing on the board of the newly formed oil and gas company, Capitol Energy Resources Ltd.
The investment group will be providing $4. million to pay liabilities of Cell-loc and to recapitalize the new companies going forward. After the restructuring is approved by the Court of Queens Bench of Alberta through a Plan of Arrangement, Techco will receive a cash injection of around $.5 million. This will be after all existing trade payables related to the companys technology business have been retired. Techco will now have a fresh start and own all of Cell-locs technology assets and have $.5 million to implement its business plan which is to go global.
In the business environment there is room to be an enormous contributor, but there is also the possibility of becoming a great failure. Right now it is all about the advancing technology and the advantages of making everything more efficient. This is why everything is becoming easier to use and operate. Now more and more products are becoming wireless, Cell-locs specialty. They have an advantage at the moment for being an innovator in their field of wireless technology. They have been highly successful with developing network-based wireless location products enabling location-based services. According to Techcos home web page they have been a supplier and producer of electrical technology distributed to other countries as well as Cell-loc. Cell-loc does not have to go far to reach their supplier anymore now that they are part of the same company. The competition from other companies will always be on the rise because every business is trying to find ways to make their operations more cost efficient and if developing a product rather than paying for a foreign product is the way to go, so be it. This can make a company a failure by not introducing a new better product sooner. With customers over seas there will always be a number of companies whose technology are not as advanced as a company like Cell-loc so they will be looking for that extra boost and try to find the best company that can give it to them. Over the last twenty-five years the most rapid changes have occurred in technology. The technological conditions are what control this business environment.
Success factors for a business such as Cell-loc would include being able to find the demand for their services. They have done business with many overseas countries and should continue to do so. Overseas is where they have the best chances of finding new companies that are a little behind current advances in technology and in need of assistance they are willing to pay for. Being able to reach people near and far is also an important factor to success. Being able to obtain and retain customers over seas will provide a look of success that other companies shopping for services will recognize and want to get involved with. This is all part of creating a reputation with other companies that will get noticed by new companies. A reputation of being a leader and an innovator in a certain field will keep people coming back to find out what is new and where it can fit into their future plans. Pleasing the current market will lead to expansion which is exactly what Cell-loc is looking for, global market.
To be successful there has to be room for the business to move forward and improve what it is already doing. With electronic technology getting better all the time a business must do the same to succeed. Cell-loc is moving its operations to Techco, which is currently a supplier producer. Joining a producer with another producer is a great way to get two brains operating together to expand and innovate in the proper direction that will be successful for a business in this market. Being able to grow together from what each part already knows can increase production of new and useful products providing more options a company can offer to another. Knowing what the market needs staying on top of the technological advances, and being able to provide efficient service to customers is what it takes to be successful in the wireless electronic business.
Techcos major strength comes from the support from the investment group led by Grant Billing. This group invested $4. million for Cell-Loc to carry out its reorganization. As a result, Techco emerges with no debts, no liabilities, and $.5 million left over for the sole purpose of carrying out their new business plan. (Globe Investor, September 00) Having this money, in addition to the assets provided by Cell-Loc, gives them a great advantage over their competitors, who all had to pay for factories or office buildings with the money provided by investors. Techco will be able to implement their plan right off the bat, and that gives them a huge head start.
Techco also has a strong board of directors. When Cell-Loc reorganized, not only did they give Techco their already-developed wireless location technology, Cellocate™, but they also sent their experienced board of directors to lead and manage the company. For a company to start off with that kind of experience gives them another head start. Having that kind of experience leading them puts a lot of mistakes behind them.
However, in the same vein Cell-Locs board of directors may overlook what Techco had going for them before the reorganization. Before Cell-Loc moved in, Techco was a supplier of a variety of electronics to a large number of companies. It would be a shame to waste what has made Techco successful as a smaller company. The board of directors from Cell-Loc may only be interested in seeing Cell-Locs technology grow. It would be easy for them to leave Techcos previous production aside. They will have let a good opportunity slip through their fingers. The board of directors bias toward Cell-Loc products presents a weakness for Techco.
Another problem is created with Techcos acquisition of Cell-Loc technology. They are going to need some time to relearn everything Cell-Loc has learned about producing Cellocate™. This problem is partially remedied by Cell-Loc providing Techco with an experienced board of directors, but the problem still exists at the middle and entry levels of employees. Techco is not familiar with the products they will be producing, and that is a definite weakness to their company.
Techcos strength comes from everything that Cell-Loc has left for them. This presents for them an opportunity for growth. At this point they need to make a plan that will bring them to success. They have $.5 million to spend on it, so they have a few options to choose from. This sort of opportunity doesnt come very often, so they had better choose well. This is an important decision point that will put Techco either on the path to success, or the path to failure.
There is another opportunity for Cell-Loc arising from their reorganization. Before the agreement, Techcos strategy was to deal with a very large number of companies on a small scale. Techco manufactured and sold miscellaneous electronics. Cell-Loc, by giving Techco all of their technology assets, has effectively created a connection with all of Techcos customers. Assuming their customers were satisfied with their products, Techco has established trust with their customers. With Techco selling Cell-Locs technology, Techcos regular customers are much more likely to buy it.
However, Cell-Locs reorganization does bring to light a looming threat. Cell-Locs strength is that they are among the first in the industry of wireless location technology. If they take too long to market their product, they make it possible for their competitors to catch up with them. Cell-Loc has been going steadily downhill for a while, frantically changing plans in hopes of boosting profits. They have even changed their CEO a couple of times. (Karleff) Their product, which was once on the very top of technological innovation, is starting to become old. There is a danger as technology advances that a competitor will come up with a better way to locate cell phones. Cell-Locs reorganization, although it may be a good idea financially, is just another delay to taking action. It shows more delay on Cell-Locs part to get their product out on the market, and very soon they may be too late.
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