For what it is worth, I have been in contact with Scott Peyron, and he forwarded my message to Ken Danchuk.
Here is Ken's response:
Your concerns are noted. We, at the corporate office, are not happy with
the price situation and will be addressing it. You're right in assuming
that the company's business is increasing, however, our earnings are not
yet at the point where we have disposable funds for all budgets. This
can affect the amount and type of corporate expenditures. Management
runs a very tight ship.
The capital markets we approached for funding began to shrink at about
the same time we were talking to them, hence it has proven more
difficult to complete our plans. However, as Larry Vance has a way of
putting it, "we look under every rock for opportunity" and announcements
will be forthcoming.
As you can see by the latest press release, our major customer at the
moment is very satisfied with the PROBE's work and the following summary
talks about our 1998 record to-date:
"Earth Search collects and processes data from the surface of the Earth
for contract clients or resale customers. Remote sensing has become a
$Billions dollar industry in the 90*s and Earth Search*s new PROBE has
proven itself an important player. Carried in small aircraft, the
design has excellent advantages over satellite instruments by giving
clients an image that is higher in resolution, more precise in
substance identification and less costly. In an ordinary day of flying,
the PROBE can bring in detailed 5 meter data covering a 2,000 sq. mi.
area.
During 1998 the PROBE delivered mineral exploration information from
numerous countries for the world class mining company; Noranda Mining &
Exploration Inc. (NOR-TSE). It flew successful environmental
assessment missions for Turner Enterprises and Montana Fish, Wildlife
and Parks. This work caught the attention of scientists at NASA-MSU
TechLink and led to winning the NASA contract for an Ecosystem Study of
Yellowstone National Park. As the PROBE continued to demonstrate it
capabilities in natural resource challenges, it attracted the College of
Agriculture at the University of Idaho which administers programs
supported by the American Farm Bureau. These programs are examining
methods used to identify the noxious weeds that threaten our environment
and the PROBE was chosen to do a base-line mission over parts of Oregon
and Idaho. Other specialized groups attracted were the Desert Institute
which used the PROBE for collecting ecosystem data over California. In
the Artic the Canadian Center for Remote Sensing used the PROBE data for
mineral identification over lichen covered areas. The PROBE is
becoming the instrument of choice to unlock more of the secrets of the
Earth."
As you know Earth Search is a very small company at the moment, however,
with the experience of our strong shareholders support over the tough
R&D years, and with the satisfaction of successfully penetrating what
has been a "Big Boys" game, we look forward to growth and
earnings for all.
Hope this gives a little information for all of us here on the thread.
Still pondering re-entry at this time.......
ladyluck |
