Ariel Way in a bad way
October 25, 2010 by Dave Haynes
About three years ago a company called Ariel Way started making a pile of announcements about partnerships and acquisitions and big plans that included digital signage.
Then they kinda went off the radar screen about as quick as they came on.
The recession, it appears, was a bit of a 2 by 4 to the head for the firm:
Dear Ariel Way Shareholders, starts a letter today from CEO Arne Dunhem:
You have all been concerned about Ariel Way, Inc. and several have called me or sent messages to me. I would like to take this opportunity to provide some updates on the Company.
Ariel Way is a technology and services company for highly secure global communications, multimedia and digital signage solutions and technologies. We are focused on developing innovative and secure technologies, acquiring and growing profitable advanced technology companies and global communications service providers and creating strategic alliances with companies in complementary product lines and service industries.
Most companies, including ours, were hit badly by the economic downturn in 2008 and 2009. Some larger equity investments into Ariel Way got cancelled and we also saw during end 2008, like for many other public companies, a dramatic sell-off of our stock, which in turn caused our stock price to drop to the very bottom.
We are actively working on revising and upgrading our business plan and we believe we have a strong opportunity in the business of technology enabled multimedia communications services. This includes services and technologies for networks for digital signage.
Activities we are working on also include:
- Returning to full OTCBB trading by becoming fully SEC compliant after filing outstanding quarterly and annual reports;
- Improving our financials and balance sheet by working out certain settlements with various creditors to reduce outstanding debt and liabilities and to improve our capitalization structure for future growth;
- Further strengthening our operational and financial management team;
- Updating our Web-site and introduce new media technologies.
It looks like the company has been in trouble for a while and has been unable to file SEC forms since 2008.