Laserfiche WebLink
IC-NEtica <br />Dear Friends of K-Netica: <br />~IAY ~ 9 2ggE; <br />K-Netica Corporation <br />6120 Earle Brown Drive, Suite 502 <br />Minneapolis, MN 55430-4112 <br />763.274.1000 <br />The past six years has been dedicated to the development of K-Netica's ISYLT'" ("I Speak Your <br />Language ") software. We operated on ashoe-string up to now, with little cash, space, or <br />personnel resources. However, like all early-stage companies have found, success does not occur <br />in a vacuum. <br />We have many supporters to thank. Without the guidance of our advisors and investment from <br />angel investors, the Elk River Investment Club, the Anoka County Economic Development <br />Program, and the Little Falls Initiative Foundation, we never could have financed our "survival" <br />through the past formative years. Without the help of the Genesis Incubator program, the City of <br />Elk River EDA and our land-lord Larry Hickman, we would not have been able to afford the <br />space necessary to get us to where we are today. <br />A few months ago our incubator space in Elk River was purchased by a new landlord. With the <br />loss of our space, we hurriedly looked at dozens of spaces in Elk River and the northern corridor. <br />We Found a GREAT sub-lease in the Earle Brown Farm system at 694 and Hwy 100 - (2.SK <br />square feet at 50% discount off of market rates, $ l OK of furniture and a phone system "thrown <br />in"...all with a 2 % year lease). <br />Today we are pleased to announce that we are currently implementing our first major <br />commercial project with Blue Cross Blue Shield of Minnesota, and have moved from survival <br />mode to growth mode! We are cash-flow positive (but may do a new financing to help <br />accelerate our growth), have hired additional staff, and are scoping even more new projects in <br />the Health Maintenance Organization market. We have been nominated as a candidate for the <br />Minnesota Tekne Award (www.tekneawards.ora) in the IT-Software, Communications and <br />Infrastructure category, and we're looking forward to thanking all of you publicly from the stage <br />"when we ruin" next fall! <br />We have a long way to go and remain forever mindful of "who got us here". Please note our <br />new location and stop in and visit us soon. <br />With deep gratitude and thanks, <br />Joe Roushar -Founder/CTO <br />ioer(a~knetica.com <br />Steve Pederson -CEO <br />stevep(a knetica.com <br />5/16/2006 <br />