| To: Debra&Jeff who wrote (19) | 9/3/1998 10:52:00 PM | | From: Debra&Jeff | | | |
The following is an OCR version of the current investor letter, in case anyone is interested. If there any "typos" please blame me and not the company. I think that all the OCR problems are cleaned up but proofing is not my forte.
Jeff
SAFARI ASSOCIATES, INC.
64 Edison Street, Amsterdam, NY 12010
Voice: 518-842-6500 Fax: 518-842-6657
August 27, 1998
Since our last letter to stockholders, there have been some very positive developments in our business. Your Company now has four new wholly owned operating subsidiaries. We have been granted an exclusive license to make, use and sell Smith & Wesson single-use and conventional cameras and Smith & Wesson recoil pads. Your Company acquired all of the issued and outstanding stock of Shoothru Inc., through which we now market unique self-sealing reactive pistol and rifle targets. We are presently negotiating new relationships in order to increase our product line with more unique products that will fit into our distribution network.
SMITH & WESSON CAMERAS
This Company is licensed by Smith & Wesson Corp., to exclusively make, use and sell Smith & Wesson single-use and conventional cameras. It is now producing Smith & Wesson single-use cameras for sale to federal, state and local law enforcement agencies. There are over 20,000 police departments In the United States. We believe that with proper marketing, many of these police departments will purchase Smith & Wesson single-use cameras to be issued to all of their field personnel and that the Smith & Wesson single-use law enforcement cameras will become standard equipment for law enforcement agencies throughout the United States. Smith & Wesson has been an American tradition as a law enforcement supplier since 1852. It is known for its high standards of quality and innovation. At $4 50 each, law enforcement agencies cannot afford not to arm themselves with Smith & Wesson single-use cameras. Law enforcement is a growth industry, which we are penetrating with our Smith & Wesson cameras and Shoothru self-sealing targets.
We are now dealing with a major camera manufacturer in the Orient to design and produce a 35mm time and date camera that we intend to sell to law enforcement agencies to supplement the single-use camera Our plan is to sell to law enforcement agencies and tie in a two year agreement to supply the agencies with photographic film. We recently commenced marketing the Smith & Wesson Law Enforcement Camera by direct mail, fax and advertising. Preliminary results have been very promising. Our direct mail and faxing is directed to about 1,000 law enforcement agencies a month. Enclosed is an article reviewing the Smith & Wesson Law Enforcement Camera that appeared in the June, 1993 issue of Law & Order Magazine. This magazine is read be law enforcement personnel throughout the United States and has resulted in sales and inquiries. We use this article in our marketing by direct mail and faxing.
SAFARI CAMERA CORPORATION
Over 76 million single-use cameras were sold in the United States in 1997. Approximately 20 million of these cameras wire produced in the Orient, predominantly China. Fuji has commenced a legal action in the United States Trade Commission to stop these cameras from entering the United States as they allegedly violate Fuji patents. Because of the uncertainties caused by this lawsuit, retailers and importers are purchasing fewer of these cameras. Safari Camera Corporation is taking advantage of the Fuji lawsuit, which does not apply to Safari Camera Corporation. Safari has established a national field rep organization to offer its cameras to retail stores and as premium and promotional cameras. The market for single-use cameras has grown 1900% since 1985 and is projected to grow 2O% a year for the next five years Automobile insurance companies are now recommending that every vehicle be equipped with a single-use camera Safari Camera Corporation intends to penetrate this new market Your Company is now producing private label single-use cameras for the Price Chopper food chain, the New York State Museum, the Battleship New Jersey Foundation which is dedicated to bringing the Battleship New Jersey home to New Jersey and the Cape May-Lewes Ferry which is operated by the Delaware River and Bay Authority.
SMITH & WESSON RECOIL PAD COMPANY
This subsidiary has an exclusive license from Smith & Wesson Corp to make, use and sell recoil pads under the Smith & Wesson name The Smith & Wesson recoil pad is vastly superior to any other recoil pad now on the market. Recoil pads are affixed to rifle and shotgun buns to reduce the impact caused by recoil when rifles and shotguns are fired. Our marketing includes selling to rifle and shotgun suppliers. distributors, gunsmiths and owners of rifles and shotguns who want to replace existing recoil pads.
Within the next four months, we will be distributing a self-adhering recoil pad that is without competition. The new recoil pad will adhere to any outer garment worn by the shooter and can be removed, moved and will adhere to any other garment. The "Stick-On" recoil pad is approximately 3/8' inch thick. It is believed that the new Stick-On recoil pad is appropriate for mass-market merchandisers such as Wal-Mart, Kmart and Sports Authority. When in full production, and after marketing, the recoil pad market can be a high profit revenue source.
SHOOTHRU. INC.
Shoothru lnc., was acquired by Safari Associates Inc., in January, 1998. This Company distributes Shoothru self-sealing knock down and knock down-spring back targets. Shoothru Inc, has these targets manufactured targets will replace steel knock down targets that are now being used by law enforcement agencies, shooting ranges and individuals throughout the United States and Europe. Steel knock down targets cause many injuries by reason of the spatter, fragmentation and ricochet that results when a bullet strikes the target. It is expected that the use of steel knock down targets will be prohibited by law within the next three years.
Shoothru Inc., has commenced marketing of its targets to federal and state law enforcement agencies, shooting ranges and individuals. With proper marketing, it is expected that this will be a very substantial profit center.
Your Company is actively pursuing mergers, acquisitions and other arrangements for the purpose of increasing its product line and sales potential. We will make you aware should any of these ongoing negotiations result in any of the foregoing.
We are now preparing our financial statements so that the Company can file with the baited State Securities and Exchange Commission to become a Reporting Company
Finally, your Company has a new website at www.safariassociates.com. If you wish you can email any inquiries you may have by using the email on the website or simply email SAFR1@aol.com.
SincereIy,
Morton Berger
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| To: Debra&Jeff who wrote (21) | 9/17/1998 10:21:00 PM | | From: Debra&Jeff | | | |
An SI poster with level II was kind enough to get the MM's for me.
Since I'm talking to myself anyway, here you go Jeff:
Market Makers:
Very odd looking screen. These are the MMs:
SRRA,PGON,WEIN,SHRP,FRAN,and HILL
Thanks k. By the time we get level II the real investors will have level III!
J |
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| To: Frank Fontaine who wrote (23) | 10/1/1998 12:08:00 PM | | From: Debra&Jeff | | | |
LMAO! No they had to stop using that film. It seems that every time they shot a picture they had to write another report to explain the damage to the evidence! And imagine what happened when they were shooting a suspect! The film wasn't good for repeat business. <VBG>
Jeff
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| To: michael john stout who wrote (25) | 11/18/1998 12:36:00 AM | | From: Debra&Jeff | | | |
Well we're not in SAFR because of Barrington's. We weren't even aware of the info until we received the fax from the company. We had actually been in this one for about 6 months at that point.
I have AFRI on a watch list since Cav pointed out the web page and the connection. Other than that I know nothing about the company and even less about Barrington's. Safari is another story....
Most of what I know is already posted on Safari. On the upside they are a real company with real products making real money. They have affiliations with Smith & Wesson, specialized marketing programs, which include organizations such as GSA and a network in place for their camera-recycling program. The company survives on its own income while pursuing new products, ventures, distribution and distributorships for additional, related products. You can actually call the company and get an update on progress.
The downside is no PR (withholding judgement on downside here!) and they are not fully reporting, yet. This too shall pass...!?!? Mort (the CEO) has stated adamently that we will not be a "pink sheet" stock! IMHO this will be a big factor in their success or failure. This is not a startup company so I lean more towards success than failure. I am overdue for an update but my last report had the "accountants calling daily" on the filings.
I discussed the Barrington Report with the company. It was not a paid report and it appears they may have been "wooing" Safari to get some business. AFRI, based on their report, appears to be a different story. Heck, I was hopeful Safari was finally doing something to promote the stock!
We own TOOOO many shells. It's nice to have a company that has a "real business". The only sour feeling we have to Barrington's is that they didn't gain more attention for the stock<g>! From what I have watched both stocks are thinly traded and not overly volatile. If they really have potential this does not make them a bad long. Safari has potential, maybe you should dig deeper into AFRI.
Whatever you do, good luck.
Jeff |
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| To: Debra&Jeff who wrote (26) | 11/18/1998 9:07:00 AM | | From: michael john stout | | | | |
Hmm. I don't really know anything about SAFR, but it does sound like it could be good. As far as I know, AFRI is legitimate, but I have been digging for information. Is there something you know that I don't know about it? That's just the way it sounded. Anyway, SAFR may be worth a look. Thanks. |
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| To: michael john stout who wrote (27) | 11/18/1998 10:32:00 PM | | From: Debra&Jeff | | | |
I actually know nothing about AFRI. My point was more towards thinly traded stocks. They are not "Internet stocks" subject to massive hype, naysayers, doubt touters and pump & dump schemes. You may find that there is a real company making more unpublicized results than the internet favorites. You may also find a non-complacent company that is trying to market peace signs & bell bottoms. What chance does a company like that have? <g>
Debra and I had considered selling SAFR at one point. The stock valuation didn't justify our continued support. A friend from SI suggested that we determine why we owned the stock. I listened and redoubled my DD. After several hours on the phone with the CEO I/we decided to stay. You could find something similar in AFRI...or nor.
We're done following. Sharing info worked with some and not others. At this point all info must be verified. We feel more comfortable making our own mistakes. <VBG> We have provided the basic info to check out this stock. We hope our sharing works for others willing to do their own DD.
Well back to the wars<g>,
Jeff & Debra |
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| To: michael john stout who wrote (29) | 12/22/1998 12:02:00 AM | | From: Debra&Jeff | | | |
As you may note we are way behind in following anything and everything! We're looking at year short/long term gains and losses. Currently we hold this one in both positions and it looks like hold is the operative word. I know they have distribution deal in process and are comfortable with the fact that they don't hype the stock on something that might happen.
Filings would have been a nice Christmas Gift but We're not holding our breath!
I have watched AFRI for some time. Glad to see you are getting news releases. Wish we could say the same!
Happy Holidays,
Jeff & Debra |
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