Legal Update – November 2010
We are very excited to confirm that the business is progressing very well since the launch.With members around the world excited about the business and generating sales and income, we would like to congratulate you all for your efforts.
As a new company the growth of the business is extraordinary, for which we are working hard to develop the internal team to support the growth. We are also working hard to provide the tools and systems to support the business through our three year business strategy to become a market leader within the industry through our new and exciting business model.
The IPO process is gaining momentum where we have been working closely with our legal partners in more than 25 + countries. In order to support the process and support both the Western and Eastern markets we have engaged some of the best Legal firms in the world to help us ensure our business model is both compliant to local laws and to support the IPO plan initiated in July this year.
While initial discussions gave a focus on utilizing the European stock exchanges for IPO, our strategy has expanded to include looking at Eastern markets also. We have engaged the services of one of the top 20 Asian Lawyers who has successfully completed IPO’s for many companies including a multi-billion dollar Global IPO.
One of the challenges we have had to face like most companies who have become so successful in such a short space of time, is communication with members contacting our legal partners to either seek assurances or to find updates on our progress. This has caused us and our partners a lot of issues as they do not have the infrastructure to deal with thousands of calls and emails, thus we had no alternative but to amicably cancel this relationship. However, this has turned into a benefit for us and the “fit for IPO” process is progressing to plan; and if we continue making the progress we are, we will probably speed up the timeframe for IPO.
As a lesson learnt we will no longer be announcing the details of our legal partners. Instead, we will be working with the Inner circle leaders from around the world in order to communicate our progress and receive feedback on the progress.
So it is onward and upward and we look forward to recognising even more of you as we continue to develop the business together.
Best regards
UNAICO Management Team.
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