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“Refusing to sign what contract, Uncle Victor? We already have a signed contract with Knight Security as a major buyer. Ellen and David, would you mind handing out the copies you helped prepare?”
My uncle’s frown deepens as Ellen and Dave distribute the paperwork. Dave hands Chase a copy, and Ellen hands one to my uncle.
“What is this? These aren’t the projected numbers you showed us previously.”
“No, they aren’t. The reason we have a new major buyer is that we decided to go a different route. Instead of selling the software upfront for a one-time fee. We felt it would be more profitable if we offered an online web-based version of the software and charged a monthly subscription fee per camera.”
“That’s hardly any money upfront,” my uncle responds.
“That is true. If everyone could turn to page two. You will see that while the upfront profit is lower, by charging a monthly subscription fee, our profits are projected to be three times what they would have been if we had stayed with a one-time charge. We concluded that it was worth the wait. Also, because we are pricing the subscription by the number of cameras instead of the software itself, that will also increase our profits substantially.”
I turn and give Chase a smile. “This recommendation was made by Knight Security. Who, as our major buyer, is bringing their entire clientele on board. They will be including our software as a service to their current customers for an upcharge and the monthly subscription fee.”
“How many customers are we talking about upfront?”
“That number is on page four. If everyone could, please turn to page four.”
We hear a few gasps and pleased murmurings as the board members read the numbers in the report.
“Again, by bringing Knight Security on board, they guarantee that number of customers on day one. If you turn to page five, you will see the total number of customers plus the number of cameras that each of their customers currently has. As you can see, most of their customers have multiple cameras, which ensures a very successful launch right out of the gate.”
I look around the table and state, “If you have any questions, please feel free to ask. Ellen, Dave, and I are available to answer them. Thank you.”
I smile when I hear Dave’s answer to one of the older board members. “No, charging a monthly subscription fee is not considered a new concept. Many software companies are moving to subscription-based pricing. For example, Microsoft went from a one-time purchase price to a monthly subscription for Office 365 back in January 2013.”
My uncle stands and turns toward me. “Valentina, we don’t normally allow anyone but board members to attend these meetings.”
“Yes, Uncle Victor, I know. But I’m going to start suggesting some changes going forward.”
“You don’t have controlling interest yet, Valentina.”
I don’t respond; instead, I just walk away to answer another question.
Right before the meeting is adjourned, the Chair and Vice Chair of the Board stand.
“Everyone, we have an announcement. Yesterday, fifty-one shares of Carlucci Software stock were transferred to Valentina Carlucci-Knight, giving her controlling interest. Congratulations, Val.”
Everyone in the room claps except for my Uncle Victor. When my uncle starts to stand, the Chair turns toward him and states firmly, “Victor, please remain seated. We have another announcement.”
My uncle remains seated.
“The Board of Directors for Carlucci’s met Wednesday night. One day before Val received her stock shares, to go over some information that was brought to our attention. A decision based on that information required a vote by the directors: Chair, Vice Chair, Secretary, and Treasurer.
The vote was unanimous. We voted to press criminal charges due to unlawful kickbacks made to someone within the company. These payments were made by ReConstruct to Victor Carlucci for over two million dollars. exchange for being awarded jobs, despite not submitting the winning bid.”
As the rest of the board members gasp, the door opens, and two law enforcement officers enter the room.
They take my Uncle Victor into custody and read him his rights. His face is a furious red as he sputters his denial. It makes no difference to the officers who continue their arrest.
After the police leave the boardroom with my uncle, the Chair gives the remaining members more details. There are many different reactions to the news: outrage, disappointment, and anger. The look on both Ellen’s and Dave’s face is pure satisfaction.
Chase, who placed his arm around my waist in support when the announcement was made, has not left my side. As many board members file out of the room, he leans down and whispers, “That was a brilliant move, Val. Leaving it up to the board of directors before you received controlling interest. You didn’t even have to recuse yourself.”
“Thank you, Chase.”
We turn toward the Directors of the Board, “Val, we’ll get with you on Monday to begin discussions regarding the CEO replacement. We believe that some of your suggestions, while new, are also innovative. We’re all looking forward to the new leadership.”
They shake my hand.
