GrooveVC Community Update – October 1, 2009
GrooveVC Community Members,
A quick note to update you on our progress and a few things community participants might find to be of interest.
As of September 30, 2009 GrooveVC Community participants have now increased to a level (541) that our research suggests could be adding over $4,ooo per day to Vertro’s bottom line during the fourth quarter if the averages are in line with what we experienced with control group #2 in the experiment we undertook during the due diligence process. During a quarter where management is projecting marginal EBITDA profitability, the importance of the Groove revenue stream should not be understated. If the numbers above prove out, the searching/shopping of 500+ Groove participants would be adding more than $400,000 to VTRO’s bottom line during the fourth quarter.
The reported share holdings of community members is now well over 1 million shares and approaching 4% of Vertro’s outstanding shares. We should note that the majority of the new Groove participants have chosen not to disclose their holdings.
We have grown our ranks by more than 400% over the past 30 days through simple word of mouth/viral marketing. Please continue to encourage your contacts to join us and keep spreading the word to friends and business associates – the earlier in Q4 that we get more people involved, the greater the impact our aggregate “searching/shopping” power will have on Vertro’s financials. Do not forget, when Vertro reports those fourth quarter numbers that will be impacted in a big way by our participation – the attention that will be thrust upon Vertro by the investment community should make expanding our ranks much easier.
The GrooveVC concept seems to be gaining traction, if the trend in new participants (more added in last two weeks of September than in the first 6 weeks of our existence) and the inquiries we have received from several notable small cap technology investors and hedge fund managers is any indication. Keep up the good work!
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