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Wow. How would you like to be a company that has a great product, be virtually alone in your field, have a customer base of nearly a thousand, and have this product that starts at around $3 million be Canadian government sanctioned by standards that everyone must meet within 3 years. That is the enviable position that Autumn Industries finds itself. The product is the Vortex Gasifier. Below is information taken from their web site at autumn-industries.com Autumn has exclusive Canadian rights to patented technology known as the Vortex Biotherm Gasifier Energy Systems¦. (VBGES.) The process converts wood waste into valuable heat energy which equates to cost savings and environmental compliance. The primary market for Autumn is sawmills of which there are some 455 mills in B.C. and many more in Alberta. On January 1, 1996 legislation was passed that requires 80 of these mills to reduce emissions to less than 120 Mg./M3 with penalties on an increasing basis over the next two years (Refer to Order in Council #1488, British Columbia,) for noncompliance. Similar legislation packages are developing across Canada generally known as "clean air" bills. Applications from outside of the forest industry, for example, proposals with municipalities with landfill sites, are being received as well. The first system was installed with Zeidler Forest Products in McBride B.C. (cover photo) and emissions are running around 50 Mg/M3, significantly below legislated standards. The product of VBGES is thermal energy which can be used in the creation of electricity or the replacement of fossil fuels as energy sources. Canadians will be spending billions of dollars in the upcoming years for environmental related issues. Much of what Autumn provides to it's clients is eligible for various grants and subsidies. Customers are sophisticated corporations who understand the concept of making capital expenditures and achieving paybacks through future related cost savings. Some 30 quotes and proposals are currently in progress. From energy savings alone the payback of the system can vary from 1 to 3 years. These projects range in size from S2.0 to 20.0 Million each. Although a compelling business case on economics alone, the environmental issues and penalties are a catalyst that are forcing the industry to act. Also, they have jsut recently made another deal in acquiring a company in Grand ForksBC that will manufacture the product. Below is some information about this acquitsition. The company had originally developed a strategic alliance with Interior Mill Equipment Ltd.(IME) in Grand Forks, B.C. This alliance was established to manufacture and install the Vortex Biotherm Gasifier Systems. IME has been in business for 35 years and, ironically, manufactured many of the beehive burners that are to be replaced. IME has approximately 70 employees and an excellent reputation for quality and service within the peers of our target market. We are pleased to advise that Autumn Industries Inc. has purchased all of the outstanding shares of IME, effective May 31, 1996. This vertical integration of manufacturing into Autumn has added annual sales of approximately $8,000,000 per year to the revenues of Autumn Industries. Autumn evolved from a research and development company up to 1995 to a "going concern" in 1996. From February to August of 1996, approximately $1,500,000 worth of new capital has been raised. The most recent capitalization of the company, which is described in the News Releases of the company, was a brokered private placement through Canaccord Capital Corporation. Management is dedicated to building a profitable company and increasing the worth of the common shares. These goals will be achieved through the profitable operation of vertically integrated subsidiaries and through the continuing acquisition of companies that will achieve this end. Autumn currently has 5.5 million shares fully diluted. Do the math people. It won't take too many sales of their product to greatly increase the share price. This stock has been pushing to new highs every month and is currently poised to break out above it's current high of .90. Do your due dillegence and let me know your thoughts. Cheers, Sean Bork | ||||||||||||||
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