President of Zultys responds

I wrote briefly about the financial troubles Zultys was having. So I popped off a few questions to Ian Milnes, the President of Zultys. If I were a Zultys customer, I would be really nervous until I saw an announcement about a new round of funding. I wish them all the best.Here is his resopnse. Fratto: How long do you think it will be before operations resume?Milnes: Your question seems to assume something that has never happened. We have never ceased operations so there never has been any need to resume them. For the past two weeks we have been building product, selling product, taking orders, and shipping product. We have been supporting product and fixing software bugs that have been found in the field. So, I don't think your first question is the correct one. If your question is when we will be back at full bore as we were a month ago, I cannot answer that. We are going through a restructuring and will come through that a stronger company (with some managers who are wiser now than they were a month ago!).

Fratto: What services are being offered today and how long do you expect them to continue?Milnes: I think I have answered your second question. However, I would add that each of our sales and support offices around the globe is operating at 80% capacity as before. It's a bit more of a work load for people, but sales are already picking up and we hope to be able to hire back people at the remote offices to full capacity this year.Fratto: Is there a strategy in the event that Zultys can't get funding?Milnes: I do not consider your third question a viable option at this point. We have engaged an investment banking firm in NYC that is an expert in assisting companies in our position. They have generated significant interest in Zultys and at this point I don't think we will fail to get funding.