From and E-Mail I received someone named Tom Shutters :
"GIFS shareholders, the American Lift field trip went much better than I expected. I met with Jesse Lovell and Lisa Lovell for two plus hours. I also met D.C. McQueen and talked with him about his work (he
wanted me to go on an installation job with him). Jesse is very
knowledgeable about the lift business (all types of custom elevators).
In fact, I am impressed with the whole crew at American Lift
Jesse also has personal knowledge about the farm and the capped gas
wells. He met Mohammed through Gary Emery, who he has the greatest
regard for. Mr Lovell had hoped that being part of a public company
would make it easier to do business throughout the country. There is
probably a cash flow thing involved too.
The people at American Lift are confused about why a class action
against the company is being considered. They believe the suit should
be brought against the state of Tennessee, since it was the state's
actions (or lack of action) that caused the stock price to plunge.
This is a small outfit with only 12 employees, but they are working on several jobs as far south as Florida. I have worked in manufacturing most of my life and I knew what to look for. They have a board with several completed jobs, several in progress jobs, and several future jobs. It was so busy that Mr. McQueen had his tie off and was in there trying to get another job finished so that the installation crew could start installing another unit as soon as they finished the one they were on. Keep in mind that this is not a candy factory and that each unit is installed to fit the need of that job.
I toured this whole operation and I am satisfied that it is everything that it is supposed to be. When I showed the projections for net sales for January, February, and March, to Mr. Lovell, he admitted that they had not quite met the projection, but from what I saw they need a bigger building and a few more people to meet the projections. This mess has put a damper on any present thought of expansion at this time.
I am excited to be able to verify the existance of this asset and
ongoing business. I wish I had time to visit the farm in middle
Tennessee. Looking eye to eye with the people at American Lift has
enforced my positive opinion of the company.
It is with great pleasure that I bring this positive information to
you.
Tom Shutters " |
