O Kay Heres more or should I say all my thoughts, now that supper is over etc etc etc,
1 Met with Mitch and Daryl, had a nice get aquainted lunch, broke the ice etc.
2 Got the story on the former President, not much there except he did not follow through on his promises, that was the guy that just resigned.
3 Clarified some things that Earl Hope said to me, re plant being closed. The biggest thing there is that the plant is not open nor is it closed, it is in existence but they are not in production. All the equipment is idle, sort of like General Motors being on strike at the Oshawa plant, nothing happening but soon as the strike is over they are up and working. The strike in the case of WAMC is a lack of orders.
4 The company needs financing but not a lot of money to clear up some past debts and move forward to new deals.
Jim and I both suggested , during the lunch that WAMC should have one person speak for the company and quit making promises regarding press releases etc that can not be kept.
This little company is looking for money (financing) to move forward.
The above is the bad now the good, (note the bad is not so bad).
The Product
I actually have two of the products on my desk and they are really exciting, that is if you can get excited about sealants. However the sealant that seals walls of buildings is incredible it is 69.7% solid product, next to it I have Benjamin Moore's equivalent sealent and it is approximately 20% solid, I am not a construction type guy but I can guarantee you as a professional salesperson I could blow the Moore product outta the water everytime. Especially since the price is the same so I am told. A caution on this price thing, WAMC's product maybe higher but frankly it just doesn't matter, because the quality of the product is 10 times better. Like I said give me the product the Moore salesmen and me, lets sit in front of the largest hardware chain in North America and with all due respect to the Moore salesman, he's gonna lose the DEAL, PERIOD.
Next product a roofing product similar to the sealant, this product can go on a roof, seal it and the people can then catch the water from the roof and drink it, it is that environmentally friendly. One application we came up with today with the chemist is the replacing of "pine shake" roofs in Edmonton as it is a huge problem in that city. Pine shakes are actually making homes in the edmonton market un saleable.
The People
Mitch has inherited Glenn Collick's mess and it appears that Glen abandoned ship in early January.
In August both Mitch and Daryl quit jobs at Glenn Collick's urging to move this project further along and Glenn has left, do Mitch and Daryl have a tough job, yup, can it be done yup it can, will it be done, I believe it will be (for reasons I'll go into later).
Daryl and Mitch have their own money at risk and Daryl has given virtually the last three years of his life to this project.
The Integrity of Daryl and Mitch MY OPINION ONLY.
I would have both over to my house for a meal anytime, and would become friends of theirs anytime. These guys strike me as honest people, having a business problem that can be overcome and they are working on it.
Now A Big Bonus
The Chemist that invented this product is in his early 60's (guess) and he is a down to earth guy. The kinda guy who you instantly like, one of his best attributes is he admits to his limitations, he says I am a chemist as I say I am a salesman.
I then asked this chemist to cut samples in half so that I could send them to a construction contact that I have in Dallas and New York (these people are building a 1000 homes in Argentina this year) The chemist, before cutting the product wanted to know how much I could sell and reminded me that he as heard all kinds of stories in the past, well I replied that there were no guarantees in the sales business all we could do was try, but the product is very saleable, thus this gentleman also has been Bull Chited by salespeople before (Methinks Glenn Collick, my thoughts)
This Chemist has developed 72 other products and if WAMC can bring the three to market that they are currently working with, they could also have the potential to work with these other products, let me caution you these other products are not the property nor does WAMC currently have the distribution rights to them.
This company is still risky because things hinge on financing and sales, but with some money and a few good salesmen this could be a very viable, profitable company.
If anyone has any further questions please ask or Private message me and i'll try to clarify things for you, I took no notes this is all from memory and while I am not as old as Jimbo, I'm getting there, sometimes me forgets things.
regards
john
PS and just guess who bought lunch? |
