We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Castpro - Fraud In The Making?

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: jjs64 who started this subject5/16/2002 1:29:29 PM
From: StockDung   of 24
Further vindication!!->Thaon Communications Continues Execution Of New Strategic Plan, Cuts Overhead By $650,000 AnnuallySubsidiary, CastPro, Discontinues Operations And Withdraws From Los Angeles Production Facility
SAN LUIS OBISPO, CA, May 16, 2002 (INTERNET WIRE from COMTEX) -- Thaon Communications, Inc. (OTC BB: THAO chart, msgs) announced today that its wholly owned subsidiary, CastPro, has discontinued operations in its downtown Los Angeles production facility, resulting in estimated annual savings of approximately $650,000.

Thaon's Chief Executive Officer, Adam Anthony stated, "While we steadfastly believe in the viability of Live Webcasting, the anticipated demand for CastPro's production and Live Webcasting capabilities has not materialized. Further, the ancillary streaming technology and related services are quickly becoming commodities. This combination of factors has made the profitable exploitation of the streaming frontier a tremendous challenge for CastPro as well as scores of its competitors."

Mr. Anthony continued, "In accordance with our new strategic plan, which has, at its core, the financial review of all business lines and the elimination of any non-productive overhead, we have decided to discontinue our support of operations in the CastPro studio. By doing so, we estimate Thaon will save approximately $650,000 per year."

On May 6, Thaon announced that it had completed the framework for a new strategic business plan. The new plan articulates several key objectives, including achieving significant revenue growth and profitability in its core business (serving consumer products clients with marketing strategy development, direct response media placement and fulfillment) and driving additional revenue and cash flow growth through the acquisition of other media-related organizations that complement Thaon's core business.

Mr. Anthony concluded, "As always, we are committed to driving Thaon to profitability and our actions over the past 10 days have accelerated our progress toward that goal."

About Thaon Communications

Thaon Communications, Inc. is a holding company operating through a collection of subsidiaries that provide multimedia communication solutions to a broad array of companies and industries. For additional information, please visit or contact Amber Saldate at 213/252-7050 or mail

Note: Any statements released by Thaon Communications that are forward- looking, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the Company's business prospects and performances. These include economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission.

CONTACT: Amber Saldate

Copyright 2002 Internet Wire, All rights reserved.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext