Asatte Press 2nd Annual Shareholders and Directors Meetings

Asatte Press held its second annual shareholders and directors meetings Friday 7 September 2012 at BB Rovers in Austin, Texas.

Second Annual Shareholders Meeting

The second annual meeting of shareholders of the corporation was held at B. B. Rovers, 12101 Jollyville Road, Austin in the state of Texas, on 7 September 2012, at 8:30PM for the purpose of electing directors of the corporation.

David Hetherington acted as chairperson, and Tomoko Hetherington acted as secretary of the meeting.

The chairperson called the meeting to order.

The secretary announced that the meeting was called by the chairperson

The Secretary Certifies the Waiver of Notice
The Secretary Certifies the Waiver of Notice

The secretary announced that the meeting was held pursuant to notice, if and as required under the bylaws of this corporation, or that notice had been waived by all shareholders entitled to receive notice under the bylaws. Copies of any certificates of mailing of notice prepared by the secretary of the corporation and any written waivers signed by shareholders entitled to receive notice of this meeting were attached to these minutes by the secretary.

New Asatte Press Logo
New Asatte Press Logo

The chairperson introduced the new corporate logo for Asatte Press, Inc. The logo was redesigned during the summer of 2012 after experienced showed that many online and social media sites expected logos to be square. During the redesign, provision was also made for positive and negative versions of the logo to allow the logo to be laid out on both light and dark backgrounds.

New Systematic Logo
New Systematic Logo

The chairperson also introduced the new Systematic brand logo that will be used for books and merchandise.

The chairperson then presented the (written) annual report to the shareholders of Asatte Press, Inc. Highlights:

Revenue and Income

For FY 2012, Asatte Press had net income of -$56,480.00 on sales of $40.41.

Margins

The merchandise sold for $40.41 had a cost of goods of $1,998.02. The gross margin was ($40.41-$1998.02)/$40.41 = -4,844%. We hope to be able to improve our profit margins in FY 2013.

Earnings Per Share

At the end of FY 2012, Asatte Press had 95,000 shares outstanding. Earnings per share were
-$56,480.00/95,000 = -$0.60/share

Cash Flow

Asatte Press has a very simple cash flow. All cash flows outward from Asatte Press.

Investment and Return to Shareholders

In FY 2012, we were substantially 100% investment with no return to shareholders.

What’s Ahead

While FY 2012 looks like a year of all investment and no return, in FY 2013 we should begin to see the results of our investment.

  1. Systematic Martini Lifestyle – Our first book is in final edit and will be available for sale by the end of October 2012.
  2. AsattePressStore.com – Our store will be in operation by October 2012 with an initial complement of “Systematic” brand products.
  3. Systematic Cloud Tutor – During the summer of 2012, our interns produced a working prototype of the Systematic Cloud Tutor system that uses a highly scalable Google Application Engine backend to drive an iOS application on the iPad and iPhone as well as a Facebook application. During the fall of 2012, we will be productizing this application and taking it to beta trial by December.
  4. Kickstarter.com Promotions – At the end of August we launched our initial trial Kickstarter.com promotion for “Wine and Cheese: A Love Story”. In October we will release a more ambitious promotion designed to draw a higher level of funding and line up beta testers for the Systematic Cloud Tutor trial.
  5. Events – During the Fall of 2012 we expect to attend as many as ten different college recruiting fairs. These events will serve a dual purpose of making students aware of our internships for summer 2013 and also getting the word out about our products and services. A key goal will be to line up a base of supporters for our second Kickstarter.com promotion. We will also attend the Texas Book Festival which will be our first attempt to sell our book and Systematic products at a major event.
  6. Additional Skill Sets and Books – Around January we will start developing skills sets and content for our next set of products. These will be offered first as additional content for the Systematic Cloud Tutor, next as draft chapter content on our blog, and finally as published books later in the year.
  7. Commercial Promotion – Once we have the infrastructure up and running, we will begin to approach commercial accounts who might have training problems such as safety compliance that could benefit from our highly scalable, integrated social media approach.
  8. Additional Platforms – In FY 4Q2013 (around May 2013) we anticipate beginning development on Android and Google+ implementations of Systematic Cloud Tutor. We may also consider Windows 8 mobile if Microsoft provides seed funding for the development.
  9. Crowd Funding in Early 2013 – We are closely watching the ongoing implementation of the JOBS act by the SEC. Once the trading platforms go live, we may go out with a proposal and see if we can attract investment, preferably convertible debt financing.
  10. Conventional Angel Funding – We will also be using platforms like Gust.com to put out feelers to conventional Angel investors. An angel investor with strong ties to the oil industry would be particularly attractive.

Second Annual Directors Meeting

The second annual meeting of the board of directors of the corporation was held at B. B. Rovers, 12101 Jollyville Road, Austin in the state of Texas, on 7 September 2012, at 9:00PM for the purpose of reviewing the prior year’s business, discussing corporate operations for the upcoming year, and for the transaction of any other business that may properly come before the meeting.

David Hetherington acted as chairperson, and Tomoko Hetherington acted as secretary of the meeting

The chairperson called the meeting to order.

The secretary announced that the meeting was called by the chairperson

The secretary announced that the meeting was held pursuant to notice, if and as required under the bylaws of this corporation, or that notice had been waived by all directors entitled to receive notice under the bylaws. Copies of any certificates of mailing of notice prepared by the secretary of the corporation and any written waivers signed by directors entitled to receive notice of this meeting were attached to these minutes by the secretary.

The secretary announced that the following directors were present at the meeting:

Name of Director
David Hetherington
Tomoko Hetherington

The New Directors Accepted Positions on the Board
The New Directors Accepted Positions on the Board

The above directors, having been elected to serve on the board for a one-year term by the shareholders at the second annual meeting of shareholders held on 7 September 2012, accepted their positions on the board. The secretary then announced that the presence of these directors at the meeting represented a quorum of the board of directors as defined in the bylaws of this corporation.

The chairperson presented the near-term cash-flow plan for the corporation. The directors approved the cash-flow and spending plan.

The chairperson announced that the next item of business was the appointment of the officers and of standing committee members of the corporation to an initial one-year term of office. After discussion, the following persons were appointed to serve in the following capacities as officers, committee members or in other roles in the service of the corporation for the upcoming year:

Name                                       Title
David Hetherington                President
David Hetherington                Treasurer
Tomoko Hetherington            Secretary

The next item of business was the determination of compensation or fringe benefits to be paid or awarded for services rendered the corporation by employees and staff. After discussion, it was determined that no compensation could be planned at this time.
There were no further resolutions at the meeting.

The Meeting was Adjourned
The Meeting was Adjourned

There being no further business to come before the meeting, it was adjourned on motion duly made and carried.

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