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After spendingFriday aternoon with Mike, the companies PR guy, "who holds a masters degree from Miami" and is a likable young man...The Co. has 50 million shares outstanding 2 to 3 million in float, 8 million owned by employees, with 25 employed in two locations, the above distribution location(Pompano Beach Fl) and the manufacturing facilities in Orlando,Fl...Along with the 25 home base employees the company has 25 sales rep's on the road as commissioned contract employees. The company is fully set up with and for the use of EDI....The company is located in a very clean industry park,there offices are will deep and show a Business like atmosphere, the employee's are will mannered and professional..The warehouse was full and arranged in a very business like manner, Mike told me that there next door neighbor was moving and by them removing the joint wall they would double there warehouse space. Don't let me miss lead anyone the space they have at this time is quite large. The company seams to understand the pit falls of gearing up for the large retailers, from just-in-time delivery, to return policies, to favorable pricing...they do business with the likes of Circuit City which accounted for 15% of Liteglow's 3.2 million in sales last year...they just sighed a contract with Radio Shack's 6800 stores..The stories about Mr. Krumholz, CEO of Litglow visiting Walmart is True,South Florida BUSINESS JOURNAL of March 20th has story intitled BIG CUSTOMERS,BIG DEMANDS. Its my belief the Company has it's feet on the fround and more ready then most to start supplying the big retailers. We talked about reverse stock splits, they will understand that investor like myself don't like them, and they seam to agree, stating they are not planning on any. They said there relationship with there banks are very good and the banks understand there buesiness. One can't see the future but its this (not so old x banker) belief that if this produce takes off in the Us like it has in some other countries liteglow Industries has placed themselves in a position to take positive advanage. Mike said shortly after this quarter they will be releasing there 12 month year ending Dec 31.1997 and there 1st quarter numbers..Both of which are audited....AS ALWAY DO YOUR OWN DD,,AND I OWN THIS STOCK AND WILL BE BUYING MORE...... |
