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1992-02-16
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INTRODUCING PowerVision, Inc.
WHAT IS VIDEOTEX?
During the 20th Century, electronic media dramatically changed the world we
live in. We take these new electronic media for granted every day when we
listen to the traffic report on the radio, go to the "money machine" for quick
cash, program our VCR's to record our favorite daytime soap opera, and even
when we dial a long distance call.
Videotex is the newest of these electronic media technologies. It combines the
power of communications with a computer by using a modem and telephone. The
computer serves as the terminal where a user views information and prepares his
or her transmission. Telephone lines transmit information between the user and
a central data base. The modem connects the terminal to a telephone and
translates the phone signal for the computer.
Videotex services are designed to be easy to use, to provide rapid transmission
and to be interactive. Videotex users are not passive recipients of
information, but can choose and interact with the services they want.
In North America today, there are many videotex users who are gaining access to
information and performing a wide range of transactions electronically by using
their personal computer and a modem. In the 21st century, Videotex will emerge
as a powerful tool for doing business, managing one's life, education, and
entertainment.
Powervision is a leader in this emerging Videotex industry.
ABOUT POWERVISION
In 1990, PowerVision was founded for the purpose of developing and exploiting
enhanced videotex technologies. The enhanced capability that has been
developed allows PowerVision to create a videotex network that is extremely
user-friendly and capable of displaying text, full color digitized photographs
and high resolution graphics. PowerVision is the result of combining this
technology with a unique marketing concept call "No-Load" Retailing.
PowerVision's mission is to provide a videotex network that will help the
average consumer save time and money on the products they normally buy. This
savings should allow the consumer to prepare better financially for their
future while living better now rather than having to sacrifice. Marketing
PowerVision through multi-level marketing takes the mission one step further
and provides a way for the average consumer to not only save money, but make
money and build assets as well.
Powervision was introduced in the summer of 1991 and will go online in spring
of 1992. Currently, the number of subscribers and vendors throughout the
United States is growing rapidly.
MANAGEMENT TEAM OF POWERVISION
One of PowerVision's major strengths is the entrepreneurial diversity and
experience of its management team. Our key executives include:
Jeffrey M. Cohen
President & Chief Operation Officer
Mr. Cohen began his business career in the insurance industry where he
established himself as an industry leader. At the age of 23, he became the
leading producer in the country for a major life insurance company and at 26
became the youngest to ever achieve "lifetime membership" status in the
prestigious Million Dollar Round Table. In 1983, Mr. Cohen assumed
responsibilities as Executive Vice-President and C.O.O. for a $50,000,000 resort
development company. His responsibilities included the overall management of
operations and supervision of over 500 employees in eight resorts around the
country. Ten months later, he was elected President and C.E.O. of United
Educators Life Insurance Company, a sister company to the resort development
firm. In 1986, Mr. Cohen founded a unique catalog-type retail operation which
quickly became one of the country's fastest growing companies. In less than
one year, the company revenues grew to over $25,000,000 per year and employed
over 150 individuals. Mr. Cohen graduated with honors from Florida Atlantic
University in Boca Raton.
Kevin P. Hammond
Senior Vice President
Mr. Hammond is co-founder and principle of VideoTex of America. Mr. Hammond
spent seven years as Associate Vice-President, Investments of Dean Witter
Reynold, Inc. His experience included managing $20 million in client
portfolios and placing over $250 million of investment capital. In that time,
Mr. Hammond conducted various research studies identifying growth industries,
including Investment Opportunities in the telecommunications industry for the
90's. Mr. Hammond is active in Real Estate Ownership and is licensed with the
National Association of Securities Dealers (NASD), as well as the Securities
Exchange Commission (SEC). Mr. Hammond is a graduate of USC School of
Business, majoring in Corporate Finance.
Philip Bruce
Director, Vendor Relations
Mr. Bruce came to the firm from Hardesty, Puckett and Company, one of the
nation's leading communications brokerage firms. whose primary emphasis is
cable television. His experience there in business evaluation, cash flow
analysis, and communications marketing makes a valuable cross-over to the
Videotex industry. Many analysts have pointed out the similar history and
development goals for the home consumer market between cable and videotex.
Prior to 1987, Mr. Bruce spent 18 years in sales and sales management within
the beverage industry, specializing in wine education and restaurants. Mr.
Bruce holds a Master of Business Administration in Marketing and Organizations,
and a B.A. in Sociology for the University of Kansas.
Lesa A. Laird
Vice President, Customer Service
Lesa began here career in the advertising industry with Dancer Fitzgerald
Sample, Inc. (currently Satchi/Satchi) where she coordinated Account Executive
Departments for both the Toyota Motor Sales and General Medical Centers Health
Plan/Greatwest Hospitals accounts. In 1985, Lesa relocated to San Diego, her
native town, and continued her marketing career with Interamics, Inc., a
Raychem corporation that manufactured high speed computer chip carriers. She
directed trade shows and plant tours, produced the corporate and product
collateral materials and directed advertising placement. She also developed
and computerized order delivery and communications systems and improved product
and documentation flow throughout other departments, resulting in improved
quality issues and subsequent collection of past due accounts. Lesa's
experience and expertise in both marketing communications and customer service
makes her a valuable asset to Videotex of America. Lesa graduated in 1982 from
the University of Southern California School of Communication Arts & Sciences
with an emphasis in corporate communications and advertising.
Leslie Nary
Marketing Coordinator
Ms. Nary has spent ten years developing her career as a small business manager
and entrepreneur in diverse industries including construction, restaurants, and
retail. Her last five years were spent as managing general partner for five
retail desktop publishing and reprographics stores in San Jose and San Diego.
Her stores were known for their leading edge technology, professional
atmosphere, and exceptional customer service. Leslie had full responsibility
for successfully training the management team for each store as well as
developing and implementing the marketing plan and public relations strategy
that brought each store to a profitable level within its first year of
operation. Her hands on experience in business development, management and
marketing are a tremendous asset to the Videotex team. Ms. Nary has a B.A. in
Education form the University of Massachusetts, Amherst.
ADVISORY COMMITTEE OF PowerVision
The advisory team of PowerVision has the combined resources of over 100 years
of experience in engineering, finance, Videotex and software development, and
retailing.
S. William Linko
President, I.I.D.O., Inc.
Mr. Linko has 40 years of experience in engineering, hardware procurement, and
international business. He opened his international operation in 1968 and is
currently president of Micronel U.S. and the sister company, International
Industrial Development Organization. Mr. Linko sits on the board of several
U.S. and international corporations. Prior to 1970, Mr. Linko served as a
senior analyst and was then Vice President, International Operations for the
Kollmorgan Corporation and he has worked as a consultant for General Electric
on military systems and with MIT on developing the Polaris program. Mr. Linko
received a B.S. and Masters in Engineering from the Massachusetts Institute of
Technology where he also completed two years of doctoral studies. In 1966, he
received a M.S.I.M. from Harvard/MIT.
Jack P. Fitzpatrick
Vice President, Sales, Pacific Data Products
Mr. Fitzpatrick has worked for Pacific Data Products since 1989. His current
position involves worldwide sales through distributors and computer products
resellers. Initially he served as Vice President, Finance and Administration,
CFO where he positioned the company for IPO, managed creation and filing of
prospectus, and introduced controls and procedures to manage growth in revenue
for $7M/year to $63M/year. From 1985 to 1089, Mr. Fitzpatrick was Vice
President, Finance and Administration, CFO for Syntro Corporation in San Diego
where his responsibilities for finance included IPO, R&D limited partnerships,
industrial development bond, equipment leasing, and research of contracts and
licensing agreements. Prior to 1985, Mr. Fitzpatrick served as Manager,
Strategic and Financial Planning for the Xerox Office Systems Division in Palo
Alto and as a Computer Systems Analyst for Data General Corporation in
Westboro, Massachusetts. Mr. Fitzpatrick received his B.A. in applied
mathematics, M.S. in Computer Science, and M.B.A. in Finance from Harvard
University.
Amin J. Rahme
President, Nustar International
Mr. Rahme's expertise is in videotex and software development. In 1989, he
founded Nustar International to develop advanced software systems, tools, and
services for telecommunications based applications that combine the delivery of
text and graphics over telephone lines. He simultaneously is serving as
President of Everest Technologies, the developer of the IcoMetrics image
processing and analysis software. Between 1983 and 1988, Mr. Rahme founded and
served as CEO and President of two other companies. Encode International
specialized in developing management information systems software. At U.S.
Videotel, a subsidiary of Encode International, Mr. Rahme was the architect of
the technology and the corporate strategy, marketing and overall concept of the
business and deployment of systems and services. Prior to 1983, Mr. Rahme
developed a worldwide computerized network of integrated management information
and processing services for Midmac Information Services, Inc. He also served
as Director, Systems Development for Sogex International in London and Paris;
Data Processing Manager for Olayan Group of Companies in Saudi Arabia; and
Senior Systems Analyst/Programmer for Associated Business Consultants in
Beirut.
John R. Isaac, Jr.
President, Everything's A $1
Mr. Isaac has extensive experience in the retail industry. As Chief Officer
of Everything's A $1.00, he is responsible for 200 specialty retail stores doing
over $200 million in annual sales volume. Prior to his current position, Mr.
Isaac was Chairman/Chief Executive Officer of Hecks Discount, a group of 55
mass merchandising stores doing $200 million in annual sales volume. Between
1971 and 1987, Mr. Isaac also served as President/Chief Operating Officer of
Tradevest, a start-up specialty marketing retail operation and of Service
Merchandise, a group of 315 catalog specialty stores with $2.8 billion in
annual sales volume; as Executive Vice President/Chief Operating Officer of
Duty Free Shoppers with $500 million in annual sales volume; and Senior Vice
President of Gold Circle Department Stores (Federated) with 65 stores doing
$500 million in annual sales volume. Mr. Isaac has served on the boards of
Hallwood industries, Inc. as Chairman/CEO and Value Merchants, Inc. as a board
member.