June 10th CC notes:
1. Company buyback virtually non existent = hasn't happened yet. Dean and affiliates have been buying though. The O/S increase is meaningless compared to the value it is helping to create.
2. Richard Branson's status will be used as well as other affiliates in promoting Mineseekers. Looking to name first helicopter "Spirit of Lady Diana". Bid in for two helicopters.
3. Funding from London: all roadblocks have been completed and receiving traunches of 100 mil in the near future.
4. When will there be a major reduction in O/S. Most likely first week in July and moving forward after that. 20-30% possibly.
5. A/S increase is still off the table. No need to increase it.
6. A major trust fund bank is affiliated with the 110 mil loan collateral. First 10 million is anticipated imminently. And the next 100 million will follow within days.
7. Dean said we have a new COO coming in July 1st with an extensive background in the Aerospace Industry. He also said we will a new CFO that will handle the financial aspects of the company.
- reiteration of 6 to 7 Acq coming on line before end of month.
8. Not seeing the world economy as affecting business at all. One company does 40 mil a year and 250 mil backlog. Each company should produce 20% EBITDA except Tigerfish. Limiting investing at 7 mil. Will receive venture parter from EU or Indian aerospace to carry that on.
9. Mark Lundquist role: At annual meeting in August will be on board full time and will be managing Quasar financial corp. Will have over 100 mil cash.
10. In the process of 2009 Audit to be completed by the 20th - 25th at the latest. Will have to do a consolidated balance sheet by June 10th.
11. Mineseeker will be closed the week of June 21st. Dean is very very confident about this...will announce the closing the minute it happens.
12. Mineseeker radar can penetrate to 3 meters, if bombs are deeper then they wont be detected.
13. Float and restricted shares: N/A
14. Possible dilution will be over @ 1.5 billion shares issued. Then the anti dilution will commence. Point is, it could go to 1.5 bil but not over.
15. No dilution needed after funding is received.
16. Possibility of R/S? Only time to do one would be when it was necessary to list on AMEX and NASDAQ exchange. That's the only scenario.
17. Will be a fully reporting pink sheet company soon. Limited info sign will go away then.
18. Many things happening in the next 10 days and he will be traveling a lot and therefore will film a weekly update from where he is.
19. Signed a contract with a new web designer. Website will be very different by early July. Later changes will be made within minutes insted of days.
Stay safe and keep the faith.
(forgive if there is any inaccuracies, at work and was trying to write fast...)