The 10k is incredible. The company is nowhere near being ready to manufacture, let alone obtain a contract. I would not be surprised if you never hear from FMK again.
"From its discussion with potential customers, the Company expects that customers will require an extensive qualification period once the customer receives its first commercial product off a production line. To date, the Company has not provided any such commercial product to any potential customer, and therefore, has not started any product qualification period."
"In December 1997, the resignation of Calvin L. Reed, the Company's former Chairman of the Board, Chief Executive Officer, and President became effective. As had been previously announced, Mr. Lev M. Dawson then became the Chairman of the Board, Chief Executive Officer and President. In January 1998, the Company's former Executive Vice President, Worldwide Operations resigned and Joseph P. Hendrickson, who originally was hired as Vice President of Administration, became Senior Vice President, Operations. In January 1998, the Company's Vice President General Counsel, resigned. In June 1998, the Company's former Chief Technical Officer, Tibor Kalnoki-Kis,
resigned, and Mr. Dawson assumed his responsibilities." |
