June 1, 2017
Dear Piksel Stockholder,
Having recently been appointed by the board of directors as Interim Chief Executive Officer, I wanted to provide you with a brief update on Piksel.
Created out of a melting pot of many technology companies, from the outset Piksel’s greatest challenge has been to identify where we should focus our resources to provide the best return to our clients, investors and employees. Three years ago, we identified a trend in the information technology sector that we felt would differentiate Piksel from the rest of the market and provide us a platform by which we would innovate more effectively than our competitors. This trend is known as Micro-Services and is now widely being recognized as the state of the art in how software is developed, delivered and maintained.
Building a Micro-Services Architecture (MSA) is difficult. It required a complete change in culture, organization, and mindset about innovating and supporting information technology (IT) customers. It combines professional services, managed services, product development and customer support into tightly knit synchronized teams. It allows organizations to innovate faster, change direction quicker and scale easier. Used by organizations such as Amazon Web Services, Netflix, eBay and Uber, Micro-Services Architectures is how the world’s leading IT organizations are winning, and Piksel is one of them.
Piksel’s Micro-Services Architecture is known as the Piksel Palette™. By using the Piksel Palette™, our clients are able to select the individual blocks of functionalities they require for their specific needs. Each block of functionality within the Piksel Palette™ is a commercialized product, which allows us to deploy to multiple clients and provide scalable support. Within the last twelve months, Piksel’s MSA has been the key differentiator in being selected by five tier one Media and Entertainment clients, including the world’s largest cable operator, Liberty Global, and industry leading content provider Discovery Communications. These successes have also been key in continuing to attract the top-notch technical expertise to allow us to continue to expand the services we provide within the Piksel Palette™.
As it relates to the financial side of the organization, and as previously communicated, Piksel is no longer a publicly traded company and its securities are not traded on any exchange or OTC marketplace. Termination of the registration of Piksel’s securities under the Securities Exchange Act of 1934, as amended (the Securities Exchange Act) became effective on January 2, 2014. Subsequently, Piksel filed a Form 15 with the Securities Exchange Commission providing notice that the Company’s reporting obligations under Section 15(d) of the Securities Exchange Act had been suspended. As a result, Piksel no longer has any obligation to file reports with the SEC or provide financial and other information to its stockholders under the Securities Exchange Act, nor does Piksel currently intend to provide stockholders with financial statements (annual, quarterly or otherwise) or detailed business updates. As continues to be the case, interested parties (e.g., customers, suppliers, etc.) may contact Piksel to request a non-disclosure agreement (NDA). Piksel management will then determine the appropriateness of entering into such an NDA and sharing of financial and other business information.
In closing, 2017 will be my fifth year with this organization. The company has been transformed significantly over these years, and I will be the first to admit, that it has at times been difficult. However, I have never been more confident about the course we set four years ago and the market’s acceptance of the Piksel Palette™. The pace at which technology is changing is a challenge for both suppliers and clients. This creates fear and uncertainty in making technology decisions. Like all challenges, the market has responded with a completely new way to design, build, deliver and support Information Technology. Piksel’s Micro-Services Architecture and the organization we have built is showing positive results and we hope will be the foundation by which we will create value for our clients, investors and employees into the future.
Interim Chief Executive Officer