To: Buckey who wrote (496 ) 1/5/1999 12:31:00 PM From: DR. Read Replies (2) | Respond to of 635
Dear John, Thanks for your input. Did you know that existing customers of Life-Line (the product being sold) include Boeing, US National Guard, US Navy, Air Force, Star Oil Co. and Northrup Grumman. There are others but these are just in the last year. The US arm has made the sales but Canada is already benefiting by association. You are right about it being hard to have the product accepted but this part has already been achieved. Your point about the main selling point being the economies that it offers - dead right, and any company can see the savings achievable. It is just a question of running the numbers based on your workforce for this type of work being almost halved and projecting the time that it will take for the system to pay for itself. The existing customers have obviously done this and seen the light!! (not to mention, heard the radio signal!) An idea of the scale of this industry - there are, in the US approximately 1.6million workers in 300,000 facilities who are affected by the law governing working in confined spaces. Similar legislation exists in Canada, the United Kingdom and is soon to be introduced throughout the European Community. The figures for the US do not include those organizations that conduct hazardous entries, but are excluded from OSHA (Occupational Safety and Health Administration) regulations. These are estimated to be an additional 500,000 entries per year at over 2,000 facilities. Confined spaces are only one area that this product can be used in. There are a multitude of other potential uses that include the Security industry, forestry, mining and petrochemical industries, as well as passive monitoring of penal institutions, hospitals, shopping malls, airports, rapid transit, sports stadiums and care facilities. I have been sold on the product and on the company. I believe that SFU is positioned at the forefront of the next stage of development in the world of monitoring, both in confined spaces as well as others. Safe Environment has the patent on this product and as a consequence a lead over the market of several years. I know that this is a little George Orwell (1984 - Big Brother is watching you!) but this is the way that things are moving. Who knows what will happen - maybe one of the giants will come along and buy Safe Environment out, but I would certainly not rule out some serious upside in the stock. On the other hand, at twenty cents or so there is limited downside. Kind regards.