Thursday, May 12, 2016

Shareholders Letter


  • Recent Legal Activities & Potential Transfer of Control
  • A New Vision for the Company

LAS VEGAS, NEVADA, May 10, 2016 
To My Fellow Shareholders:

By now, many of you are aware that I filed suit against TransGlobal Assets, Inc (OTC: TMSH) in July, 2013. This litigation was initiated as a result of Company Management’s failure to uphold legal and operational responsibilities, including but not limited to its contractual obligations. The lawsuit was a last resort following my repeated attempts to seek their performance in satisfying the conditions of promissory notes between the Company and myself, which were first breached in [December 2010].

This case was adjudicated in the District Court of Las Vegas, Nevada in July, 2015. Neither Mr. Strickler nor Mr. Johnson, the two officers and directors of the Company, chose to appear and testify at their own trial. At the conclusion of the trial, I was awarded a judgment against the Company for their breach of contract. It is my opinion that, in an effort to avoid satisfying the judgment against the Company, the sole revenue producing asset of the Company, SLXCO, was divested without official public notification thus depriving all TransGlobal Asset Shareholders of their proxy voting rights on this matter and any foreknowledge of the devaluation of their shares, as well as removing the Company's financial wherewithal to satisfy the judgment against it. The Company has since filed an appeal with the Nevada Supreme Court, attempting to overturn the judgment.

As with most cases filed with the Nevada Supreme Court, a mandatory mediation process is instigated to provide the parties an opportunity to settle the case. The mediation process is governed by the rules of the Nevada Supreme Court and is presided over by a Settlement Judge. Such mediation was conducted in February, 2016. After many hours of negotiation, a settlement was reached, freely agreed to and signed by all parties. Amongst other stipulations, it was agreed that the Company would, through its director, Mr. Johnson, appoint me, Fredrick Conte, as the new and sole director of the Company. The Settlement Judge reported to the Supreme Court that a settlement had been reached between the parties. A few days following the settlement conference, while awaiting the logistics of the transfer of control of the Company, the Company notified the Settlement Judge that it had “changed its mind” and had chosen to continue with its appeal, rather than abide by the settlement which it agreed to just days before. No reason was given for this action. Through a motion filed with the Court, I have asked the Supreme Court to enforce its own mediation rules by ratifying the settlement already reached with the Company.

This has been a long, arduous and expensive process. In the end, if, as expected, the settlement agreement is upheld and ratified, and a transfer of control takes place, then the new management team of TransGlobal Assets will be shifting its full attention to aligning with solid, well established companies that when moved under its umbrella can and will provide multi-million dollar revenue streams and thereby bring significant value that is long overdue for the Shareholders of TransGlobal Assets, Inc. Serious discussions have been underway for some time with potential quality partners that are seeking a publicly traded vehicle to enhance their operations. To provide a glimpse of the future direction of the Company, at this juncture I can share some of the industries in which prospective companies operate: Hospitality; Medical/Cannabis; Ancestral Research; Product Delivery/Distribution, amongst others. Of course, there are no guarantees that we will be successful in this effort, but we are very optimistic and we look forward to several new partners joining our Team in the near future.

I also wish to make known to my fellow Shareholders that if, as expected, the transfer of control of the Company is finalized through the Ratification of the Settlement Agreement, I will keep Shareholders informed in accordance with the letter and intent of the laws by which public companies must abide. Now, more than ever, operational transparency must be a business practice and not just an empty platitude used to largely to embellish news releases and marketing materials. Upon receiving control of the Company, my first order of business will be to conduct a thorough accounting of all shares. Any change in the share structure, if necessary will only be due to the enhancement of the Company through bona fide Acquisitions, Strategic Partnerships and /or Mergers. and for the benefit of all Shareholders, not just Company Management as is the case in many companies today.
It is my hope, that by sharing with you some of my perspectives of past circumstances and my hopes for the future of OUR Company, that you will gain insight and perhaps even optimism into the new direction that TransGlobal Assets is likely headed. Together we can forge a new Company for all to be proud of and share in its growth. Please contact me with any sound opportunities that you feel will enhance the value of TransGlobal Assets, Inc., for all Shareholders.

For more information on my professional background and credentials, you are welcome to review them on LinkedIn:

Most Sincerely Yours,

Frederick Conte

Thursday, January 6, 2011


Vision. All good executives have it; great executives have learned to effectively communicate that vision. The effective communication of that vision hinges not only the viability of that vision, but also, and perhaps more importantly, upon the executive's willingness to market that vision.

Recently, I had the opportunity to assist in the merger of a privatly held company with an underpreforming public entity. The private entity is involved in a growing, "sexy" industry focused on timly and important renewable energy initiatives. It has a wonderful story to tell, projects being developed around the world, and the potential to attract a great deal of interest by the investment banking community, as well as individual investors. As a private company, the need to express the vision of that company was limited to the attraction of individual investors; now as a public entity that vision must be expanded to attract the interest and gain the confidence of a much larger ( and perhaps more skeptical ) audience. As the merger has proceeded and the myriad of details addressed, the importance of an investor relations program has become more apparant.

Becoming a public entity is not the panacea that many executives think that it is. With enormous possibilities come enormous responsibilities. Without a well thought out plan to communicate the company's plans and goals for the future, the initial enthusiasm of the opportunity quickly and devastatingly fades. Effectivly and convincingly communicating that vision is not a case of pandering to the interests of the investment banking community, but rather an opportunity and responsibility that should be taken with the utmost sincerity.

For the executive that has the skills and the drive to promolgate that vision for themselves, great. For the executives that have the vision but lack the skill to put their plan in motion, for the sake of the shareholders, find the assisatnace needed to make that vision a reality.

Wednesday, October 13, 2010

Perhaps an idea whose time has come..

There is an idea that is currently being bandied about that I believe deserves some serious consideration. Given the current state of the economy, even radical ideas should be considered. As many are all too aware, one of the root causes of the GREAT RECESSION has been the collapse of the real estate market in this country. The troubles and abuses in this sector have been well documented. Now the headlines reveal that many of the largest banks and mortgage service providers have exacerbated the problem by blindly approving foreclosures without even a cursory review of the underlining documentation ! This does not portend well for a resolution of the crisis. The idea that is gaining some traction, is calling for zero interest mortgages! Proponents make a compelling argument. Instead of the Federal Government continuing with its policies of funding bailouts for large banks ( allowing them to sit with the bailout cash rather than investing or loaning the money to improve the competitiveness of small business ), or purchasing toxic assets from the banks to improve their balance sheets,( which in many cases only passes the risk of defaults to the taxpayers ) why not consider having the Feds actually purchase the real estate itself, refurbish the properties through public work programs, and position those properties for sale to the public with an interest free mortgage. the mortgage would not have to be lengthy, say no more than ten years, allowing for the taxpayers to recover their investment in a timely manner, neighborhoods to be revitalized and putting people back to work. The banks are happy, the taxpayers are happy, home buyers are happy. Sounds to me like an idea whose time has come.

Monday, March 29, 2010

Impression For Monday

Between the recent "bailouts" of large banks, investment houses, auto manufacturers, big insurance companies and now homeowners who are facing foreclosure, is it no wonder that taxpayers are weary ? Now faced with "Health Care Reform" and the additional tax burden that it will create on an already overburdened citizens and State Budgets small businesspersons wonder "When and Where will it end ?"

Friday, September 26, 2008


Outline of Presentation at ARDA Round Table Discussion- Frederick Conte
"Did You Have A Pleasant Stay?"

I. Attracting Guests
• Mini vacation program
• Member discount specials advertised in company newsletter going
to existing owner base of 67,000
• Chamber of Commerce functions
• Community involvement programs
• Programs coordinated with exchange programs to fill empty rooms
• Arrangements with local hotels to book overflow transient guests
• Offer of a complimentary three day/two night stay at time of
sale to encourage new owner to take first vacation promptly
• Active Reservations Department program to update owners who
are making reservations on special room offers and referral

I I Setting Expectations
• Expectations: Vacationing at our resorts is like coming home; resorts
have a family atmosphere due to the life long relationships formed between company and owner; some of our owners have vacationed at the same resort for 10 years in a row.
• Welcome letter is sent after reservation is confirmed
Notices of special themed events (Halloween parties, caster egg
painting, etc.) are mailed to guests prior to check in so that they
get excited about upcoming vacation. Remember: the expectation of
fun is fun in itself.
• Welcome call is made 14 days prior offering upgraded
accommodations, express check in and check out, etc.

Timeshare Investment Conference Managing For Success

In order to manage for success, the stage must be set in a manner that provides a reasonable expectation to succeed. Successful organizations have one common central focus: Customers. It doesn't matter if the organization is involved in timeshare, a professional practice, a hospital or even a Governmental Agency; success comes to those, and only those, who are committed to looking after and continually developing its customer base.

Advertising, product positioning and market share pricing strategies are all important, in fact vital in our business. But when all is said and done, goods are not sold; products and services are bought.

Eight years ago, the quality wave was breaking over us. Through this process, we
realized quality is not enough. Today, customer service is swelling larger than the
quality wave. Why? Human beings all have fundamental, emotional needs that must be recognized when delivering a service. They also have expectations. The challenge is to exceed these expectations during each and every customer service contact. Customers have come to expect more in our products and services. This wisdom is not a secret; talk to your customers. They know all the buzzwords the hospitality industry conveys in the pursuit toward quality.

Our owners and guests are educated. With today's rapid pace, speed is considered
service, but let us remember that the speed of a computer will not replace a kind wort or a human touch.

Saying you value your customers on a poster in the employee lounge without a program, a vision, or a defined process to deliver the message will not get the job done.

In order to deliver exceptional service and for your customers to have a pleasant-stay
you need to carefully examine what their expectations are. Then you must
exceed them. Each timeshare owner while on vacation expects:

• Efficient check in and check out
• Courtesy from all staff and associates
• Quality service during every phase of the stay
• Clean, tastefully-appointed accommodations
Have you ever known one of your customers to expect less? If your organization has solid quality program, all of these expectations will be met - not necessarily exceeded. Our job, in this unique business, is to exceed expectations creatively and with

Think 3-D: - Decide - Discover - Deliver
Customers, generally speaking, have simple needs. They are no different than you or me. We must first decide if we understand these needs. By listening to the customers, we can discover ways to exceed and deliver these needs.

Our secret to success is to discover consistently what the customer wants and to deliver more. If you are truly committed to this process, it is a commitment of a distinct, long-
term relationship with endless marketing opportunities.

Fostering programs that create excitement is the key to keeping owners happy. Some of these services and activities include:
e Home away from home atmosphere Theme-based programs
Elements of surprise
• Personal touches
d Message that you value your customers Consistency which engenders credibility
Value, value, value - consistent emphasis on creating value for your customers

Our company works and lives the three M's:
Mission - Center your mission around your customers. Focus on it, embrace
it, practice it, live it:l
Mentor - Lead by example, teach and walk a path of integrity, understand
your role is that of a coach, build your partners to be strong - train,
train, train.
Measure - Develop your quality plan with build-in checks and balances, ask for feedback from every owner and employee and react to it. Plan but be prepared to modify and plan when change is necessary.
Every one in your organization needs to be a salesperson. Opportunities are endless
when you celebrate the relationship of your company to its owners. The key to

delivering the mission is through your employees, in essence, your true business partners. They must be an integral part of the process. We use all of the traditional
methods: teaming, mentoring, internal competition, reward and incentive programs, and training. Our new approach is empowering our employees to understand, embrace and celebrate the relationship with our customers.
Often times management receives the message from the customer then attempts to convey it to the--tine. employees. We believe the message is best communicated through direct contact and close attention to detail. The key to a pleasant stay is to
deliver service beyond the owners' expectations each and every time he/she stays at your facility. Bruce Barton once said, "Sometimes when I consider what tremendous consequences come from little things, I am tempted to think there are no little things."
Another key point is to conduct what we refer to as win/win management training. All of your staff needs to be sales and marketing savvy. Share with them the company's desired results and give them resources to excel. Identify the human, financial, technical, or organizational support available to allow each member of your team to accomplish the company's goals and to exceed them.


"Using The Telephone To Hold In Sales" After Welcome Call To 90 Days Past Due

Presented By: Frederick H. Conte , Chief Operating Officer, Preferred Equities Corporation

Corporate Philosophy: Customer Service, Reservations and Collections work together to handle customer problems quickly and fairly to avoid cancellations. This philosophy is an important reason why
the Company's over-60-day delinquency rate is less than two percent.

1. Customer Service
• Reasons for cancelling
1) Non-use

2) Confusion about use

3) Financial trouble

• Solutions
1) Non-use: Department works with Reservations to get customer on vacation.
2) Confusion about use: Program is explained to customer. Offer
may be made for complimentary 3-day/2-night accommodations in Las Vegas.

3) Financial trouble: Customer may be offered a refinancing of the contract with 3-6 months with no payments (interest accrues) or a rewrite of the contact with a less expensive resort, season and/or unit.

2. Reservations
• Reasons for cancelling
1) Confusion about reservations procedure

2) Lack of satisfaction with last vacation experience

• Solutions
1 )Confusion about reservations procedure: Reason for confusion is
ascertained (missed deadline for Space banking, etc.). A reasonable
judgement on reinstatement of lost vacation time which is possible through RCI Bulk Bank Account.
2) Lack of satisfaction with last vacation experience: A 3-day/2-night stay
(good for one year) may be offered. Department Manager may talk to RCI
about special exchange. Reservations Manager speaks to RCI several times
a day to solve problems, often conferencing with Customer Service Manager.

page two
"Using The Telephone To Hold In Sales"

3. Collections
• Call/Letter Flow
Call 1:
Letter 1:
Call 2:

Call 3:

Letter 2:
Letter 3:

• Problems/Solutions
Over 20 days, customer is called to find out about payment.
At 30 days past due, computer generated reminder letter is sent. Collector asks for payment. About 70% of customers send post dated check for payment when asked at this point. Ask for honesty. Collector may offer refinancing or longer length of contract in response to financial problem.
Default letter is automatically sent at 45 days past due. Cancellation letter is sent at 60 days with 20-day deadline.
1) "Don't like program". A complimentary 3-day/2-night stay in Las Vegas may be offered in this case.

2) "Can't get reservation ; Department Manager works with Reservations to get customer on vacation. Manager can offer a bonus week too.

3) "Have financial problems"; Refinancing may be offered with 3-6 month payment moratorium or longer length of contract so payment drops.