The 58-year-old says the recently relegated Glovers are meeting with players on a daily basis as they bid to build a team capable of competing in League Two.
The former Plymouth manager also said that he hopes to give an update on the futures of Sam Foley and Kevin Dawson later this week.
He told the club’s official website: “I can totally understand fans being a bit disenchanted at this time of the year. It is very difficult for me to sit here and rattle off names of players.
“I can assure the fans that there is so much work going on behind the scenes. We are meeting players and their representatives daily and we are trying to structure a competitive squad of players to be a force in League Two next season.
“We are trying to get the squad together as quickly as possible. This isn’t easy at the moment with players and representatives away on holiday.
“I will hopefully have news for fans on both Kevin Dawson and Sam Foley towards the end of the week.”