To: TraderGreg who wrote (5511 ) 2/27/1998 12:15:00 PM From: jan_mike Read Replies (2) | Respond to of 11708
Notes from the Mike Millis conversation 2/27 11:00 am. First note: Mike reiterates to feel free to call him. It's his job and he loves it. It's my second conversation with him, and both times he talked for an hour non-stop. You can get more information from him than a month worth of postings. New numbers coming a couple of weeks after the end of this month. Form 10 progress. Working on it daily. The litigation is a complex issue to deal with, so they want to make sure everthing is done right the first time and doesn't get bounced back. Mike says "the issue will be behind us shortly". It appears that the suit has less merit than suing Oprah for beef. LPS - I got a tremendous dump of information about this topic. Since it seems to be the most misunderstood part of the business, and one of tremendous potential, I am authorized to state that MM is putting together an explanation of the nature of the products and why the potential is so tremendous. It will be way to long for a press release, so he thinks it will go out in the form of a shareholder letter. Call and get on the list if you aren't. Mike expects it to go out by the end of next week, but cautions that it will be mailed in batches. They don't have a Microsoft size mail department. There is a pilot program in Pennsylvania that has drawn absolutely stunning results. I have some marketing exposure, and the response and closure rates he mentions are unheard of. Hopefully that will all be addressed in the letter. The bottom line, which I think has been discussed here, is that the business requires almost no investment from CSMA, and keeps returning percentages even after the sales. There are some extra opportunities that are even beyond the products, compiling and selling demographic data and such. I can guarantee that's a big bucks business by itself. Gas - when do we start, everybody asks. We've started. Go turn up your thermostat. Enviro - the permit is issued. If I got this right, half the legislature has passed on it, and the state senate is expected to clear it, maybe next week. The well is ready to accept waste without modification. There is a consultant, who they also emoployed as a lobbyist, who is putting the final touches on the plan for monitoring the waste disposed of. The clients store up a load, and then that batch becomes an entity. The entity has to be tested and it's movements monitored and verified until and including disposal. Just a chain of evidence kind of thing, no big deal. Just found it interesting. Well could start producing revenue in April. Expect full usage in third quarter. Prices are market driven, they are not mandated by anybody. Mike always works with the lowest price when referencing income. The lowest price represents a 2000% increase over what they got for the old sludge. Now I'm tired of typing, because I keep getting interrupted, so I'll quit. There is a ton I didn't get in, but that's most of the biggies. The stock price fluctuation and the current valuation are much on their minds, and still being worked on. the other Mike Edit(I have typos and grammos galore. Live with it)