Message from the Chairman
August 19, 1998
DEAR BRAINTECH SHAREHOLDERS:
Re: BrainTech Customers
I am pleased to report to you that product and customer development is moving forward rapidly.
On the product side, our efforts are focused on delivering turnkey and embedded vision solutions for a number of industrial
inspection applications: print quality, food; medical and aerospace. In addition, we are working with our partner, United
Technologies Microelectronics Corporation (UTMC), to develop a board (Odysee-IMPAC) to accelerate BrainTech's machine
vision applications.
On the customer side, we continue to expand our business with existing clients and establish new relationships with an
ever-increasing number of clients in the North American manufacturing and defense sectors. BrainTech and UTMC's
agreement to cooperatively market application-specific machine vision solutions built by BrainTech will further expand our
client base.
Unfortunately, we have encountered a problem with one of our customers. The problem is that certain shareholders have
repeatedly called this customer directly to inquire about BrainTech's relationship with the customer. These calls have been
so frequent that the customer has complained to us and asked us to take steps to stop these calls.
We have approximately 3,000 shareholders. Almost all of our shareholders are responsible investors who monitor
BrainTech's performance and obtain information regarding BrainTech through our web site and/or through discussions with
our investor relations department (Jennifer Burke at (604) 986-6121). All current information regarding BrainTech is available
on the web site and Jennifer will be pleased to discuss BrainTech matters with you.
We want our shareholders to be fully informed regarding BrainTech's affairs and to this end we frequently issue news
releases which are widely disseminated through news services and posted on our web site.
There are however a few shareholders who are causing harm to BrainTech through repeated contact directly with
customers. This behaviour is totally irresponsible and damaging to BrainTech and I will not tolerate it.
I am working with our customers to obtain the names of the abusive shareholders and BrainTech will commence litigation
against these people if this conduct continues. If you know of an abusive shareholder please provide me with details.
BrainTech recently obtained a judgment for $300,000 against an individual who made damaging remarks about BrainTech
over the internet. We are in the process now of executing on that judgment and in fact have filed documentation necessary
to petition that person into bankruptcy. This demonstrates our resolve to take action against anyone who interferes with our
business.
Our scientists, software architects, programmers and other technical personnel are working hard to develop leading edge
products. Our relationship with United Technologies (No. 41 on the 1998 Fortune 500 List with annual revenue of $25 billion)
through UTMC is strong evidence that we are on the right track with our products.
Our business development people are in the process of forging the customer base that will generate substantial revenues
for BrainTech.
I ask all shareholders to support BrainTech in these endeavours. Further, I ask those shareholders that are interfering with
our customers to stop doing so.
If any of you wish to speak to me on this matter, or on any other BrainTech matter, please call Jennifer Burke, Investor
Relations, with your name and telephone number and I will get back to you.
BrainTech is strong and is moving forward. Let's keep it that way.
Yours truly,
BRAINTECH, INC.
Grant Sutherland, Chairman
This can be found on the techwestmang. site
Tony |
