The Evermedia Group, Inc. (Pinksheets: EVRM) would like to issue the following letter to customers, shareholders and colleagues: First and foremost, I want to thank our supporters; it has been a privilege to serve as CEO to The Evermedia Group, advancing the interests of wholly owned subsidiaries: System Technology Solutions (STS) and Evermedia Biometrics (EBC). I have been fortunate to work with many outstanding professionals contributing to our growing enterprise. More than ever, I am convinced that we can play a significant role in providing global market solutions in federal defense services and biometric security.
We continue to have a positive outlook regarding defense spending for cybersecurity and biometric applications adoption. This investment trend seems sustainable despite a distressed economy. With projected compounded growth rates in the biometrics market exceeding 20% through 2015, and even greater numbers expected for defense security spending, we’re confident our success will continue.
Revenues increased this year by 43%, reaching approximately $989,000. These revenues reflect the continuation of existing defense services contracts and the addition of new government and corporate customers. We anticipate a greater increase to our top line in the coming year.
Thanks to the excellent leadership at STS and EBC, we executed 12 new teaming agreements and MOUs this year. Our ability to develop sound business relationships have been a cornerstone in generating revenue and we fully expect to continue to increase our visibility going forward. As part of that effort, we increased our presence in Washington, DC, developing a government affairs strategy to increase our profile. The number of full time employees and contractors increased 30%. The Evermedia Group and its subsidiaries currently employ 17 personnel.
In the biometrics sector, we are building a reputation as a vibrant and innovative technology company. The team has done an outstanding job completing our first demonstrable proof of concept using our proprietary iris recognition application. We will be presenting it publicly in Q1-2012 to invited investors, venture partners and customers.
Though our market capitalization has increased 41% to $7.4M between 12/13/10 to 12/05/11, we still have not secured meaningful, long-term funding. This is the case with many development stage companies in this economy. To this end, we continue to work with our accountants to complete the required audits in order to become an SEC reporting company. Our expectation is that we will complete the final 2011 audit by Feb. 2012. At this time, it is our intent to file registration statements with the SEC and FINRA.
Overall, we are pleased with our progress, learning much from the growing pains associated with developing an enterprise. Looking beyond, we have higher aims and greater milestones to achieve. We continue to refine our processes as well as creating operational efficiencies moving into the New Year. Moreover, as a commitment to greater transparency and corporate governance, we satisfied the alternative reporting standard for OTC Markets and increased our media investment in corporate communications. Evermedia will continue to provide access to management, discussion and analysis by means of newsletters and open conference calls.
About The Evermedia Group, Inc.
The Evermedia Group, Inc. is a Service Disabled, Veteran Owned Small Business (SDVOSB) providing defense and security solutions to government agencies and private entities. Evermedia Group’s wholly-owned operating subsidiaries include defense contractor System Technology Solutions, Inc. and biometric technology developer Evermedia Biometrics Corporation. Follow Evermedia on Facebook (facebook.com/Evermedia) and Twitter (twitter.com/evermediagroup).