MEMO FROM THE PRESIDENT JULY 2004
Dear Shareholders,
Tirex's primary objective continues to be to sell our patented cryogenic tire recycling system, the TCS, to our first commercial customer. Concurrently , our manufacturing and sales partner, Simpro S.p.A. of Turin, Italy, is also actively marketing the TCS technology and will build a commercial showcase in Italy to demonstrate the TCS technology in collaboration and support with the state university, Politecnico, also of Turin, Italy.
Negotiations with potential customers in Brazil, England, Malaysia, Mexico, Quebec, Puerto Rico, Australia, Botswana and Saudi Arabia, among others, continues to give Tirex and Simpro management optimism that closing sales is inevitable. Our renewed optimism comes from the qualified companies at the table, some recyclers and/or environmentalists who can ‘write the check’ (as apposed to entrepreneurs looking for equity partners) and are being solicited by Simpro directly or as a referral from Tirex. Simpro is the primary on the contract and, needless to say, their stability and success lends more credibility to our customers who require more than warranties and performance bonds to commit to new large capital equipment. Several of these projects have progressed to the final stages of negotiations with Simpro and the others are not far off.
Prospects are many, and our return on investment, even without government subsidies (i.e. tipping fees), remains very attractive and is one of our stronger selling points. Further, we continue to see a need in the industry for new technology and cryogenic crumb rubber.
Tirex and Simpro continue to market the TCS technology worldwide and still believe we have superior technology and that the first sale will initiate and ignite the demand for many more TCS sales. And, as many of you know, TCS sales is only the tip of the iceberg, as Tirex plans to exploit the even more lucrative downstream recycled rubber products market.
Tirex’s position on the ‘pink slips’ or ‘gray sheets’ will continue until Tirex closes a sale. When we close our first sale, Tirex will be welcomed back on the NASDAQ Bulletin Board and our stock will once again become trading in a more regulated and responsive market. Tirex’s transfer agent will not be active until Tirex is in a position to move forward. Please be patient with your stock transactions until we are in a better position to transfer and/or exploit your shares for you. If you do not wish to keep your shares contact me and I will help you move them.
Recently, the SEC took steps to eliminate market makers from ‘shorting’ penny stocks and small cap companies. Needless to say, once Tirex is back on the BB to announce our first sale, our position for growth will, for the first time, not be subject to market manipulators.
Tirex and Simpro welcome all governments, companies and investors interested in our business of bringing to market what we believe is the most economically viable and environmentally friendly tire recycling process in the industry.
I assure you that as long as there is a market for the TCS technology we will persevere, no matter how long it takes, until we succeed. So we continue to say to our shareholders ‘hang in there’, and to new investors we welcome you as the market improves and Tirex moves forward.
Sincerely,
John L. Threshie, Jr.
514-935-2525
fax 935-9758
threshiejr@yahoo.ca
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".....He's who laughs last, ...laughs best...."!!! .....And, "...it's the Technology, Stupid..."!!!
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