Report from ASM
This post is a good summary of what happend at ASM yesterday. Message comes from sign SOLEN and posted on ragingbull.com All in all very POSITIVE
Shareholders Meeting Info.................................
This info is from notes that I wrote down during the meeting.
*Voted in 6 people elected to serve as directors for one year period at the meeting.
*Voted in Stock incentive program for employees
*Voted in BDO International independent auditors
*43 employees
*9,390,000 Shares outstanding
*3,500,000 Float
*Partnerships with Matrix vehicle tracking, Across Wireless, several network, terminal, SIM card and SMSC manufacturers.
*25 engagements with and 7 proposals on the table at this time!!!
* Listing is not a question of if but a question of when. Red tape within the SEC only thing thats holding the listing back. They are now just waiting for the OK. Once the OK comes they plan to be listed on the Nasdaq NM and not the small cap, this means we will be with the big boys!! This though, will cost CLPT $80,000 extra but they feel that it is well worth the cost.
*France telecom has accepted CLPT's technology and a signed contract is not too far away according to CLPT.
*CLPT not interested in selling the technology, they feel that the basic techonology is uninteresting, it's the services that one can offer from adapting CLPT's technology that's interesting and where the money is to be made. It is therefore that CLPT way of being paid is thru the sharing of revenue with the mobil phone operators.
* CLPT is concentrating on GSM. Because GSM is by far the biggest market and (suprise!) the FASTEST growing. Right now there are 183,300,000 GSM users and 1999 that number gained by 7,6 million. TDMA has only 24,000,000 and CDMA 18,000,000.
*CLPT is planning to get into the U.S. market but they are concentrating on Europe and Asia for the near term. One of the reasons is the fact that GSM is not that big in the U.S. Another reason is that U.S. mobil phone users turn often off their telephones when they are not calling out. This is due to the fact that U.S. users have to pay for both outgoing and incoming phone calls. This will not be the case in the future, according to CLPT, but they say that TDMA is very similar to GSM and that future mobil phone in the U.S. will probabily have a SIM card that works with both GSM and TDMA.
*CLPT has welcomed third party developers realizing that the more services CLPT can provide the better for them.
*Cellnet, a division of British Telecomm, very happy with recent test in London and reported an 50 meter accuracy. (Tele2 has from 50 to 200 meter accuracy in the Stockholm area)
* Cellpoint Systems SA working on getting better accuracy out of the technology.
*CLPT has a hefty lead on it's competitors. Ericsson's system is too expensive. Unwire and Kipling, which also have a terminal based system, are not ready with any product as of yet.
*CLPT has filed quite a few new patents.
*At $35-$40 CLPT would consider doing a split.
*Year 2000 CLPT will be cash flow positive.
* Feb. 2000 GSM world congress conference CLPT will be there plus they believe that several operators will be there showing off CLPT's technology so this should be great for CLPT and stockholder.
*March 2000 is the Wireless Position and Location Service conference in London.
* New offices to open, the first would probabibly be in Asia once CLPT gets it's first contract.
ALL IN ALL A VERY POSITIVE MEETING, BUY ON THE DIPS IS MY RECOMMENDATION.
Solen |
