Meeting over Google meet with some of the guys from SimLiv (https://symliv.com/). SimLiv is short for Simultaneous Living. They cater to gated communities, HOA's (homeowner associations), and other important security access venues.

My friend, Gene Spaulding, former banker and private equity investor, help to setup the meeting. The goal was to see if there were any common ground between what adilas does and what SimLiv does. Great meeting. There were four of us on the virtual meeting. We all live in the same area, in Northern Utah, and will most likely get together in person in the next couple of weeks. Here are some of my notes.

- Those where there: Taylor James from SimLiv, Tim Greenfield from SimLiv, Gene Spaulding, and myself.

- We talked about startups and accruing technical debt (old or unorganized code - anything like that).

- We went over what SimLiv does and where they are heading. See link above to view their website. They are very focused on a specific vertical and have big plans and more phases to do in the future. They were giving me some good advice as well.

- They had questions about adilas and what we do and where we came from. I gave them a small history overview and we chatted about all kinds of things. That was really fun for me. (history and investment options for adilas - small summary - see different sections on this page)

- We talked about SaaS (software as a service) and how that reoccurring revenue model is going and working. They highly recommended that we look into the transactional reoccurring revenue model as well. Something along the lines of payments, processing, small percentages of sales, per transaction fees, etc. This is what Tim said - "We are seeing that the transactional model is potentially bigger than the actual SaaS model." They were talking about multiples (raw numbers times a multiplier). I thought that was pretty cool.

- They were recommending that we either focus on making adilas a lifestyle business or change the focus and put an exit strategy in place. Basically, if we keep going, the way we are, we will have to keep working for years and years to come. That becomes a lifestyle, even if we don't have to do as much work. We basically maintain control and just grow things slowly over time (natural or organic growth). If the focus is more on exiting or getting bought out, then you play the game differently. Just some talks back and forth.

- All of the guys chimed in and asked questions and good dialog. I really enjoyed some of Tim's questions. They were deep and he wanted to know about certain aspects of things both technically and logistically. I thought that it was fun.

- Gene asked Tim, "What are your thoughts?" - I won't quote him, but Tim was basically like - If someone came to me, with a big dream, a plan and was saying the things that I was saying (just about adilas and what we are doing), he's not sure if he would believe it. Mixing operations and accounting and doing all of the things that we do is lot. That is super complex and may sound good on paper, but he just wasn't sure if he would believe it. He then said, if you were on the other side of that huge divide (meaning having done and/or doing everything that you had pitched or proposed) then that would change everything.

- We've put in the hours... We started back in 2001 and put in time, money (millions and millions), and have built it out. We have a working proof of concept, a working prototype, and have proved the model. Not only have we proved the model, but we've also made millions of dollars along the way. Way more than just a dream or vaporware. That's pretty cool!

- They recommended that we find a niche and follow that all the way. I told them that we are a general business package or generic on purpose and that our future goals include both white labeling options and industry specific skins (on top of the main adilas core). We would do that directly and/or allow for API socket usage and adaptation. Tons of options.

- How to make our customers "sticky"? I mentioned that we use the same term and sometimes do custom code to help those customers become more sticky (wanting to stay with us or stay around, while using our products and features). We played with some fun ideas, back and forth.

- Lots of talk about custom code and how to manage some of that. We ended up talking a lot about permissions and settings (some of the foundation pieces).

- They wanted to know the ratio between SaaS reoccurring revenue and other professional services (data entry, setup, training, marketing, custom code, design, consulting, etc.). I told them that currently, we are 70% SaaS model and the other 30% is other professional services. This brought on more conversations about multipliers and either focusing on SaaS multipliers or transactional multipliers.

- The more we talked, the more my head was going towards API sockets, API integrations, white labels, and other possible industry specific levels. That would help with marketing, development, training, etc. I love it!

- One thing that caught my ear was that they, SimLiv, are hardware agnostic (not tied to specific hardware). They also tout that they can interface with any other existing hardware, used in their industry, based on their current model. I would love to see what they have and/or are doing. We, at adilas, could really use that. We just barely got done with a very painful attempt to use some super old proprietary hardware for a company doing POS (point of sale) stuff. It would be super cool if we had a middleware type thing (some sort of software) that we could put on an older device and then be able to make a web, middleware, hardware bridge of sorts. We would really love that.

After the meeting, Gene gave me a call and we chatted for a bit. I recorded some notes and sent out some texts. I really enjoyed the meeting. It was fun.