this is part of the faq on the wavc site - i like what they say about the next few years - 150$ - 250$ million - and we have a conservative management !!!!!
June 03, 1999
What transpired at your Annual General Meeting last week?
WaveRider's Annual General Meeting was held successfully on Wednesday of last week with Scott Worthington, VP Finance and Administration, acting as chairman. The
meeting was comprised of three parts:
1. The formal and legal component including the shareholders' vote on new resolutions:
Election of directors (G. Chastelet, W. E. Krebs, W. H. Laird, C. A. Mingay, D. B. Sinclair)
Appointment of PricewaterhouseCoopers LLP as the independent public accountants
The 1999 Incentive and Nonqualified Stock Option Plan.
All three resolutions were overwhelmingly approved by the shareholders.
2. Bruce Sinclair, President and CEO, gave a presentation which provided him the opportunity to informally present his view of WaveRider's progress and future directions.
Bruce outlined the company's accomplishments to date with particular emphasis on the company's rapid progress in the short period since the NCL 135 received FCC
approval in February of this year with sales contracts and installations throughout the world.
Regarding future directions, Bruce emphasized the important benefits that TTI will bring, making our product line one of the most competitive in the market in terms of
speed, features, price and flexibility. TTI will contribute an existing client base including over 1000 wireless installations and more than 75 VAR agreements. This is very
significant in that WaveRider will gain an important US operating base and an established sales and distribution network.
Bruce was particularly pleased that so many shareholders that he comes into contact with share his excitement and optimism for WaveRider's future and expressed his
appreciation to all shareholders for their support of WaveRider.
3. The meeting concluded with shareholder questions:
Can you provide sales and earnings forecasts?
Answer: We are frequently asked for forecasts. However, at our stage, it's impossible to make any short term sales forecasts - starting from a small base
any contract can double your quarterly sales. However, contracts such as Jamaica and China are starting to come in with greater frequency and are building
our backlog of orders. We have previously talked about our medium term goal of capturing 5 to 10% of a multi-billion dollar market and in that context, we are
comfortable in projecting sales of $150 to $250 million within three to four years. |
