Letter to Shareholders 09.21.15

 

Dear Shareholders,

 

By way of introduction, my name is Robert H. Estareja and I am the new Chief Executive Officer of WOWIO. I am very happy to have the opportunity to serve you all, and I am humbled by the responsibility I now have to breathe new life into this entity. As you can see, we worked very hard to bring the company current with respect to its disclosure statements.  This was not easy, but I feel it was necessary to start with a clean slate.  I have the knowledge and experience necessary to bring WOWIO to profitability using a common sense, strategically thought out, long term growth approach by developing acquisition programs to create and increase revenues and build assets.

 

I know that this organization and its shareholders have gone through some difficult times. I also understand that many of you are frustrated by the company’s performance on the market over the past year. However, if we are to really create something of value, I have to ask for your patience and support in this journey. I will be as transparent as I can, and I will work around the clock until I succeed. That's the best I can offer in the way of a guarantee. A personal vow to do my best.  I assure you that I am personally committed to WOWIO and will do my best to enhance shareholder value and stabilize the company's operations.  In my new role with WOWIO, I plan on leveraging my background, particularly with mergers and acquisitions, and relationships made throughout the years to propel WOWIO forward.

 

Thank you in advance for your continued support of the Company. There have been several recent strategic changes which have positioned WOWIO to succeed operationally and competitively in the near –term and more importantly, have set the foundation for long-term growth and to effectively compete in this booming media technology industry. I want to take the opportunity to personally update you and provide an overview of my strategic vision and plan moving forward.  The next few months will be just as significant as the past few months. Management, including myself, will be staunchly focused on high priority initiatives such as the reporting of our financials, as well as optimizing our merger and acquisition strategy.

 

 

In April we secured a preferred equity investment commitment worth $5 million from a private equity firm, Premier Venture Partners, LLC.  Using the Convertible Preferred Stock as announced in previous filings and news releases along with the preferred equity investment that initiates in October, we can begin acquiring profitable businesses and assets.

 

Currently, we are in discussions with several entities that have revenues and assets.  We are seeking companies with strong revenues, profits, assets and strategic fit.  We hope to close our first acquisition in Q4 of 2015 and  we hope to close our second and third acquisitions with revenue and EBITDA contributions by year end 2016.   At this time I believe that growing revenues and increasing assets is in our shareholder's best interest.

 

I see an unprecedented amount of opportunity for the company, both this year and in the long term. Although we still have a lot of hard work ahead, I couldn't be more excited and optimistic.

 

As always, thank you for your continued support.

 

 

Robert H. Estareja

Chief Executive Officer