"Developing Products for the 21st Century"
June 8, 1999
President's Letter
Greetings Shareholders:
As of February 8, 1999, we have a new Chairman and a new President and we've been busy! Urecoats Industries has been securing a solid ethical foundation for its worldwide growth and we are extremely enthusiastic about our progress in the last four months. We expect to offer product placement commitments within the next six months. Going through Research and Development can be most trying and at every corner difficulties arise. For those of you who understand Research and Development, prototypes, development problems, trial and error, etc., etc., no explanation is needed. For those of you looking for a quick fix or some vertical movement in your stock, that just doesn't happen over night, unless of course, it's an Internet Stock and that we are not. I believe we are actually better. Remember, in development there are always stages. I personally would like to thank Howard Weiser and Jay Fontana for fighting the fight to bring us to our next stage of growth. No one should take for granted the time, energy and uphill battle that these men and their colleagues consistently encountered through Research and Development phases, at times these were of the highest stress levels imaginable. Howard, Jay, Dr. Raja, Dr. Uma, Michael, Sam, Dori, Patrick and all of our Consultants, Engineers, and Suppliers, I personally thank you, and on behalf of the Stockholders and the Board of Directors, everyone is to be commended for his/her strength, support, and dedication to keep this project on the right path for its next stage. Research and Development is difficult to achieve in any given business when no cash flow is being generated.
Please let me introduce myself for those of you who are unaware of our restructuring. My name is Larry Clemons, your President and Partner in Urecoats Industries' worldwide positioning in the sealant market.
I offer no apology for my lack of dialogue over the last four months and if you saw our progress and our positive results, you wouldn't want one. Understand, we have an extremely viable product that truly can change, not enhance or support, but change various industries. My time, my energy and our finances have been dedicated to our lab and Chemist and not the suit and tie of the executive office. Don't misunderstand, there will be a time and place for that role to be initiated, but right now its product, product, product! After product there will be distribution. While we're on the subject of product, we must understand a few requirements. First, my confidence and enthusiasm for our new Urecoats 100 "Rubber Sealant Membrane" is a wonderful attribute for gathering support, interest, and even potential sales, but without UL rating test (Fire Test), Bonding and Adhesive Test, Puncture Test, and Mechanical Properties Test (strength, elasticity, tension, etc.), we will have "no" product. Without these test approvals and ratings, we could never get a financial institution to Insure our Company/Product. Without this Bond, no customer, even if they wanted to, could purchase our products. It's a legal "must" for us to comply with testing criteria and then offer our results for "legitimate product approval", at that point, we will have a product. Then and only then will my personal enthusiasm and drive be truly respected and "supported" because we will have independent research and studies to substantiate our claims! Then watch out, because in my opinion nothing will stop Urecoats Industries, "Rubber Sealant Membrane" from entering the Automotive Arena, the Construction Industry, the Shipping and Railroad Industries, and of course the Rubber Sealant Membrane can change the landscapes of the 23 billion dollar a year (U.S. only) Roofing Industry.
From day one, when I sensed our products mechanical properties and applications, I was convinced that we could build upon a multi-billion dollar industry with support and determination. Well this has come in the form of your new Chairman, Richard Kurtz. I can assure you we are supported by a leader whom we all owe a debt of gratitude and reciprocal support. I commit to you personally and professionally, I will not let Mr. Kurtz and our Board of Directors down.
Friends, we have something here. It is timely and will be embraced worldwide. It is my belief it will enhance the longevity of current products and projects. And it is expected to save industries and individual consumers millions of dollars. I am, at this point in time, very pleased with the progress of our preliminary test results. I am optimistic, and upon final completion of all testing, I will once again communicate to you.
"Achieved through Knowledge, Delivered by Technology",
. . . and soon to be used worldwide,
Your Teammate and President
Larry T. Clemons
P.S. - The Internet opens up the World to Urecoats Industries and we will embrace it as an extension of our Knowledge, Development and Communication
Thank You.
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To contact us:
Phone: (954) 977-5428
Fax: (954) 977-9589
Email: urecoatsdialog@urecoats.com |
