Dear Friends, Colleagues and Supporters,
We wanted to update you on the AVTN.TV Project – It is sadly time to lay the Project to rest.
While we remain convinced that we have not spoken to the correct people yet, or are being overlooked, I can honestly say that the responses we have had from would be investors in recent months reflect a very negative perception of the Current World Political outlook, World Trade, Brexit and oddly Media Investments, despite the recent headline Media M&A news. Following Farnborough and the last of our scheduled meetings, Kinny and I have decided that it is time to draw a close to the Project, and over the coming weeks will wind things down while responding to any remaining enquiries, and looking to our own futures. That doesn’t mean to say the project won’t one-day rise like a phoenix, just that at this time it is unlikely.
Over the last year we have approached many Independent investment houses, VC’s and Hedge Funds. While we are still hearing back from some VC’s we sent info to nearly two months ago, apart from some long-shots and making approaches to existing networks, I think we must be realistic and say that we are not going to get this done at this time. There is simply too much noise getting in the way of our message.
On that basis, we are looking forward and positioning ourselves to make as much as possible out of the downside as we can. That is, unless we or someone else can pull a rabbit from the hat!
We have taken the decision to publish the Latest Version of the Full Proposal, in case it does draw in any interest, and because it is pointless no-one knowing what we tried to achieve and indeed have achieved.
Kinny and I would like to thank everyone that joined us in the journey and provided invaluable help and expertise.
Phillip Covell CEO & Kinny Cheng CTO