From the Chairman and Chief Executive Officer,
As we begin 2011, I want to take this opportunity to bring you up to date on the work ESP has been involved with, reveal the milestones we have achieved this past year, and briefly cover what the future may hold. There is no question that 2010 was a challenging year on many levels. Despite challenges, we have had significant achievements that have provided the Company with a solid foundation for 2011.
While funding has been our major challenge, in that receiving the funding has taken much longer than expected, we have made progress toward our financial goals. We are in the final stages of securing the necessary collateral to close our funding commitment. While we are confident and optimistic that funding will be received soon, we need to move forward to complete the necessary requirements to receive ESP’s initial funding. Proper funding will provide the groundwork for the 2011 launch of several new programs and contracts.
Our auditing work for the Securities and Exchange Commission (SEC) reporting is in the final process and will be completed and up to date by the required filing date of Fiscal year 2010, March 31, 2011. Full SEC reporting for prior years is the cornerstone for our Company’s financial stability and future.
While addressing these challenges on the financial side, our staff has not lost sight of moving ESP toward strategic partnerships and programs that will provide exponential growth for us in 2011. These important accomplishments include:
- Launching the first training program that includes indoor air quality and energy efficiency which will be used to train Veterans; the National Association for Moisture Management (NAMM) has been pivotal in development of these national standards;
- Establishing the American Workforce Program for Veterans;
- Working with already established direct contacts and relationships with the Department of Labor, Veterans Administration, Department of Defense, EPA and the Department of Commerce to prepare for the launch of our American Workforce Program;
- We are now a partner in the California Energy Upgrade California Program that will create thousands of jobs;
- Our business models and divisions have made significant changes in 2010 and will continue their forward progress in 2011;
- ESP continues to work closely with Congressional Representatives, Federal Agencies and Private Industry Stakeholders on our core and new programs:
- Healthy Homes America
- Healthy Home Mortgage
- Healthy Green Living Certification
- American Workforce
- We are in the final stages of establishing recurring sources of inspections through our “Healthy Home America” Program and through our “Healthy Home Mortgage Program”, which will embrace our 10 year Annual Home Inspection Protocol Program "The Healthy Green Living Certification".
We continue to be optimistic about the arrival of our principal funding, and we have structured alternative plans to ensure the successful financial future of ESP. Many of you have helped us throughout this period of time, and we are grateful and thank you for your contributions and patience. The success we are about to experience is due in large part to the dedication and many sacrifices made by our past and current employees, our Board Members, bridge lenders, and investors.
I look forward to continuing to lead ESP into the future as we chart our course for success for our Shareholders, Corporate Divisions, Stakeholders and all of our Employees. We are planning a Shareholders Meeting to be held in Palm Springs, California. Look for details through our press releases.
Edward L. Torres
Chairman and CEO