Annual Meeting Notes:
OnDemand-Goal, 2 more installed by April 1st, 1 per month near-term after that, with an increased pace towards the end of next year. Plenty of demand from traditional nursing market, plus working on a multi-dose version for assisted living market...has strong potential for retail/nutriceutical markets down the road also. Stopping short of true guidence, Todd hopes to begin discussing backlog numbers as soon as possible.
Amex- the company has been in contact with AMEX, and even if the stock price remains below $3, the company is confident that listing will happen around the beginning of the new year.
Capacity and FacilitiesAdditional punchcard press is likely early next year as Production needs increase and to simplify job scheduling for the many different types of new and existing packaging. Also, looking to add another 8,000 sq ft near-term...and plans are underway to address the need for significant additional space needs over the mid-term.
New Markets and products-siginificant introductions for Home care and Nutriceutical industry, along with one for the hospital market are still on track although the timetable is now being pushed back to around January as final adjustments are being made.
Re-Financing- They now have the funding in place to "aggressively" pursue their high growth expectations going forward. The relationship with the previous lenders had become severely strained to point where there wasn't any leeway to use excess funds for needed expansion or new funds for new objectives...Todd sounded very relieved that it was finally over.. As far as the final deal, 3 groups were originally bidding on this refinancing, it was narrowed to two, and then the final package was decided on, so they are very happy with the result and feel they got the best deal available.
PR/IRThe company is very happy with the job Porter,Levay,& Rose is doing in getting eyes on the stock. Todd and CFO Michael Conroy have made numerous presentations over the past year to many investment groups and professionals. One of the main concerns, the balance sheet/equity area has already of course been resolved and another, the OTC-BB status, should be eliminated soon.
Margins/Earnings- As the company begins it's new aggressive business cycle, there will be additional costs associated with this ramping up/positioning for growth. Because of this, margins will come under slight pressure near-term, however, one of the primary goals of the company, as they have historically shown, is to continue to grow their earnings and the rewards of this new effort are expected to show in future results.
New 5 year plan...the company has redefined it's vision going forward...One filled with very agressive goals and expectations. Going from $25 million annually to $50 million and matching/exceeding traditional growth rates is a big challenge, but a vision shared by all levels of management and one that with strong focus and strong products and service will be accomplished.
Management-My comments: I was fortunate enough to get a chance to meet some of the people I hadn't had a chance to in the past and continue to come away with the impression that the right people are driving this company to the next level for shareholders.
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Well, this all came from the top of my head, so i hope it was helpful to those who couldn't attend the Annual meeting....here's to another strong year and a stock price to match this time.
_Dave |
