I had an informative talk with management today and asked them your questions along with others. I would characterize them as no-nonsense, straight-shooting, well-focused and confident. I liked what I heard and how it was communicated. No hype, just the facts.
Currently 5,622,000 shares out fully diluted.
Public float 4,500,000 with most in "friendly hands".
1,100,000 of the float restricted until May 14, 2000.
With the acquisitions (RRC and UTWI):
Fully diluted: 33,000,000 of which 19,000,000 are restricted for two years. No significant debt at this point in time.
What was emphasized is that the LDSR technology is different from any other recycling approach. They actually remanufacture the raw material to make it competitive with synthetic and natural rubber BUT AT 40% OF THE COST OF SYNTHETIC OR NATURAL RUBBER.
LDSR is completely independent from China. They made a one-time purchase for a license in perpetuity. There are no royalties, commissions or future payments of any type. The Letter of Intent for a joint venture with the two Chinese tire manufacturers (mentioned previously in press releases) is now on hold as the company intends to pursue the more lucrative North American and European markets.
The Dayton plant will be fully operational in June. They are taking more time (two months more than previously announced)due to the acquisition of better equipment which will make the plant fully automated. The plant is intended to showcase to tire manufacturers how a standard commercially viable product can be produced in a profitable and feasible manner. This plant is capable of being expanded to full production runs.
It also sounds like LSDR won't be undiscovered for long as an awareness program is about to start.
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