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TheStreet Open House

Crexendo CEO Discusses Q2 2011 Results - Earnings Call Transcript

Crexendo does not undertake any obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or any other occurrence.

I’d now like to turn the call back to Steve. Steve?

Steve Mihaylo

Thank you, Jeff. As all of you are aware, I’m sure we made a decision in the first part of July to change the way we sell our StoresOnline products to our SOHO customers, our entrepreneurs, and individuals. We are aggressively pursuing sales through online marketing, inside sales and affiliates. We have however discontinued seminar sales. We think this will be a better way to reach those customers and we also think that it will reduce our expenses tremendously.

In addition, we beefed up our customer service towards those customers so that we can even help them more in the future. Rather than going through all the numbers at this time, I just want to state that as a result of the sales from the previous quarter probably aren’t that meaningful, what’s more meaningful is the amount of cash on our balance sheet which is nearly $12 million and the net receivables which are fully reserved in approximately $24 million to $25 million.

Going forward, of course the important things are the number of sales people that we have the sales through our Crexendo, which would be our Crexendo Business Services and Web Services as well as Crexendo Telecom and of course the number of customers that we have in our StoresOnline division.

At this point what I’m going to do is, turn the meeting over to John Erickson to go over all of the granularity and the individual information.

John Erickson

Thank you, Steve.

Steve Mihaylo

You bet.

John Erickson

In order to provide you more clarity on what to expect from our operations in coming quarters as a result of our decision to suspend seminar operations

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