Elroy "Sun Tzu" Fimrite, comments as follows:
"The position of leadership that Landstar has achieved in the rubber recycling industry is a direct result of an investment in intellectual capital and research of all facets of the industry, worldwide. The Company has engaged an industry dominating team with knowledge and experience in rubber science, rubber manufacturing, tire processing (ambient, cryogenic and wet grind), general management, systems development, finance, equipment design, equipment manufacturing, asphalt rubber application, public company management and strategic management. This team has been assembled because it takes significant size and sophisticated management to build a successful recycling business. The business must be much larger than we currently are and the Company intends to aggressively pursue acquisitions to grow the Company horizontally and vertically. It is essential to this plan that we invest in manpower and the attendant costs of travel to pursue the goals of corporate growth and industry position. This commitment will be reflected in an operating loss until sufficient acquisitions are consummated to carry this corporate overhead.''
Mr. Fimrite further stated: ``Our campaign to bring order to the chaos of the rubber recycling industry is akin to a military campaign. In the teachings of Sun Tzu, (Honored Chinese military strategist Circa 500 B.C.), when `Waging War', Sun Tzu said: In order to establish an army, the general needs thousands of chariots, tens of thousands of wagons and carts, and hundreds of thousands of soldiers. Supplies must be transported over thousands of li (miles). There will be expenses for officers and staff, expenses for soldiers, expenses for chariots, leather armor, arrows, spears and swords, expenses for many things.
Thousands of liang (pieces) of gold will be expended each day to establish the army.''
Let's see, this is public notice that they will be spending vast amounts of money to maintain their WAR process... and that money is coming from?
Think MORE dilution is in the cards, no? Can you say, "private placement" ... assuming they haven't burnt their bridges already IMO... this one will be a tough sell! Yet I *think* I hear the share "printing presses" gearing up to run off millions more ...ah, don't you love the OTCBB?
They ceased operations in Michigan... need to revamp Oklahoma, are purchasing land in Arizona and revamping those facilities as well... and in their latest PR, no mention of the Pa. operations that were in default on loan convenants...
and the bid has dropped to .18... am I the only one thinking single digit share price is around the corner?
Good Luck!
kp |
