Mr. Jones: Arel was founded in 1988. In 1995 it entered into the interactive distance learning market, or IDL. The company is traded on the NASDAQ under the ticker ARLC. The shareholders are global shareholders from the Far East, Europe and the US, as well as Israel. The company has its registration in Tel Aviv. 95% of its revenues are generated out of the North Americas. Dayton is the North America headquarters. Arel acquired W2COM, an interactive distance learning provider in August. We have completed the integration of the two companies. Headquartered here in Ohio, we have offices all across the US. The organization has research and development and finance in Tel Aviv, and marketing operations and sales are handled out of the North Americas. We are a profitable company in the distance learning industry, which is rather unusual. We would hope that through our growth we continue to provide shareholder value. This year we will embark on a campaign to market the company and build a brand here in the North Americas. We hope to be one of the top five in revenue and customer base in the distance learning marketplace by the end of the year. We have three product offerings that we bring to the table. The industry in essence has three components, and that is services, platforms or technology and content. Arel came to the North Americas with the technology and platform. We provided the services and content repurposing. So as you combine the two companies, we have a complete solution for the end-user. We focus our attention in three very key strategic areas, and from a product perspective; first we deliver live, synchronous education and e-training and distance learning capabilities to corporate America. We provide an asynchronous product called Spotlight On Demand for the same customer base. And then third, we do an integration of collaboration capabilities in terms of an instructor- based, live, very little latency video to the desktop as well as group systems. So instructors can work with their students on a one-on-one or one-to-many basis, fully interactive. So those are the three key product offerings. Our customer base is AT&T Wireless, Lucent, Anheuser- Busch,Volkswagen, Bank of America, Toronto Dominion Bank, Royal Bank of Scotland, The Amway Corporation, Owens-Corning, Motorola, just to name a few. We have a good customer base. We primarily focus our attention on corporate America, the Fortune 1000, if you will, or 2000 at the high end, the federal government and state governments and the K-12 school districts across the US.
Tickers included in this excerpt: ARLC
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