July 17th, 2021
We appreciate your support of TheDirectory.com during this exciting period in the history of our Company. We are working on multiple fronts at the moment to create sustainable value for our shareholders, employees and partners. Here is a summary of our activities since our last update.OTC Markets & Reporting
Our application was filed and we are actively responding to comments and document requests regularly from OTC Markets in order to become a reporting compliant Company under OTC Markets and SEC Rules. We expect financials to be released on OTC Markets some time in September. We do not expect any major update here until we are granted access to the OTC Markets portal and we file our financial statements to become a fully reporting Company.Debt Reduction
Obviously a key area in our growth going forward will be our balance sheet. As previously mentioned we signed a settlement and note agreement with a fund that resolved an outstanding judgement from 2016. The deal reduced our outstanding debt by over $1,000,000 and removed a significant financial hurdle going forward.We are continuing to work on cleaning up our balance sheet to position the Company for future growth. We will announce other deals as they are completed. We are currently working on other similar deals we hope to finalize in the coming weeks.TheDirectory.com Site & Vertical Network
We recently completed a series of site upgrades to TheDirectory.com. You will see another set of important upgrades to the site completed in the coming weeks. These upgrades to the usability of our site are extremely important. We are planning our first major marketing campaign of TheDirectory.com in years and getting the site tightened up is a make it or break it issue once we begin.The campaign will use primarily social media and TV advertising.
TheDirectory and our network of vertical search engines now consist of over 200,000 local business listings.Our goal is to have over 1,000,000 listings in the network by August 1st and we are on track to reach that goal.TheDirectory.com continues to get more pages indexed by the major search engine algorithms daily.
As we mentioned in earlier updates we are modeling our primary customer profile from the data set related to small businesses with 4 or less employees and less than $500,000 in annual sales. The dataset we are developing will allow us to geo and mirco target the businesses we can impact the most. These same tools and tactics will be used to generate new customers for our featured business partners as well. Our first test campaigns will begin next week.Other Opportunities
We continue to explore other opportunities that will compliment and grow our core business and create value for our Company. We are in active discussions regarding several of these opportunities and will disclose additional information as it becomes available as talks move forward.
With that I appreciate your support of our Company.
Scott GallagherForward-Looking Statements
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). TheDirectory.com, Inc. cautions that the statements made in this shareholder update constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.