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TekModo Industries Announces Private Placement and Share Consolidation
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2017) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TekModo Industries Inc. (TSX VENTURE:TEK) ("TekModo" or the "Company") announces that it is proceeding with a non-brokered private placement and the consolidation of its common shares.
Non-Brokered Private Placement
The Company intends to raise a minimum of C$2 million and up to a maximum of C$3 million in a non-brokered private placement (the "Private Placement"). The Company will issue a minimum of 10 million units (the "Units") at a price of C$0.20 per Unit (post 1:5 consolidation) and a maximum of 15 million Units. Each Unit will consist of one common share and one transferable common share purchase warrant. Each warrant is exercisable at a price of C$0.25 per share for a period of 2 years from the date of issuance. The Company will have the right to force conversion of the warrants if its common shares trade at or above C$0.50 per share (post-consolidation) for 20 consecutive trading days.
The Company intends to use the proceeds of the Private Placement for general working capital. TekModo may pay a 6% finder's fee in cash and/or Units, at the election of the finder, in connection with the Private Placement. Finder's fees will be paid where applicable exemptions permit the Company to pay such fees.
Immediately following closing of the Private Placement, the Company will complete a share consolidation (the "Share Consolidation") on the basis of five (5) pre-consolidation common shares for each one (1) post-consolidation common share. The Company's outstanding incentive stock options and warrants will be adjusted on the same ratio (1:5) in accordance with their respective terms, with proportionate adjustments being made to exercise prices. The Share Consolidation is subject to regulatory approval, including the approval of the TSX Venture Exchange. The common shares and common share purchase warrants issued pursuant to the Private Placement will be issued on a pre-consolidation basis.
Participation in the Private Placement
The Company will be offering Units to:
Accredited investors;
Existing shareholders pursuant to the exemptions available in Canada and described below; and
Investors pursuant to the new Investment Dealer exemption where available.
All or a portion of the Private Placement may be completed pursuant to BC Instrument 45-534 - Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders and similar instruments in other jurisdictions in Canada (the "Existing Security Holder Exemption"). As at the date of this news release, the Existing Security Holder Exemption is available in each of the provinces of Canada, with the exception of Newfoundland and Labrador. The aggregate acquisition cost to a subscriber under the Existing Security Holder Exemption cannot exceed C$15,000 unless that subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment. The Company has fixed February 16th, 2017, as the record date for the purpose of determining existing shareholders of the Company who are entitled to participate in the Private Placement pursuant to the Existing Security Holder Exemption. Subscribers purchasing securities under the Existing Security Holder Exemption will need to represent in writing that they meet certain requirements of the Existing Security Holder Exemption, including that on or before the record date they became a shareholder of the Company and that they continue to be a shareholder of the Company. If the Company receives subscriptions from investors relying on the Existing Security Holder Exemption exceeding the maximum Private Placement, the Company may adjust the subscriptions received on a pro-rata basis.
In addition to the Existing Security Holder Exemption and other available prospectus exemptions, a portion or all of the Private Placement may be completed pursuant to Multilateral CSA Notice 45-318 - Prospectus Exemption for Certain Distributions through an Investment Dealer ("CSA 45-318") and the corresponding blanket orders and rules implementing CSA 45-318 in the participating jurisdictions in respect thereof (collectively with CSA 45-318, the "Investment Dealer Exemption"). As at the date of this news release, the Investment Dealer Exemption is available in each of Alberta, British Columbia, Saskatchewan, Manitoba and New Brunswick. Pursuant to CSA 45-318, each subscriber relying on the Investment Dealer Exemption must obtain advice regarding the suitability of the investment from a registered investment dealer. There is no material fact or material change of the Company that has not been generally disclosed.
Completion of the Private Placement is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The securities issued pursuant to the Private Placement will be subject to statutory hold periods expiring four months and one day from the date of issuance of such securities, and such other restrictions as are required by applicable securities laws.
This news release is not an offer of securities for sale in the United States. The offer and sale of the securities offered in the Private Placement has not been and will not be registered under the US Securities Act of 1933, as amended, or any state securities laws, and such securities may not be offered or sold in the United States absent registration or applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction in which the offer, sale or solicitation would be unlawful.
On Behalf of the Board of TekModo Industries Inc.
Jacob Vogel, Executive Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Notes Regarding Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "intends", and variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information the use of proceeds associated with the Private Placement. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward- looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
TekModo Consolidates Company Activities in Elkhart, Indiana
Wed Feb 15, 2017 (RV News)
148717483589319.jpgVANCOUVER, BRITISH COLUMBIA - TekModo Industries Inc. is providing an update on its current operations and business plan going forward.
At year end, the company experienced an unexpected manufacturing equipment failure which resulted in approximately seven weeks of production down time and substantially reduced sales and cash flow for the months of January and February 2017. The equipment is being repaired and upgraded and the manufacturing schedule is being resumed.
In addition to several existing manufacturing and assembly lines, the construction of the new GRP gel coat manufacturing line is expected to be completed in March and will initially allow the company to produce commercial samples of SpectraLite exterior skin replacement, for initial select customers. TekModo intends to commercially launch its SpectraLite product in July 2017. SpectraLite is a highly engineered exterior wall panel to be produced in a continuous process, resulting in a high-gloss seamless panel with improved optics, reduced weight and extreme durability. After completion and subject to testing, this product, when integrated with the company's proprietary substrate (secondary layer) material, Fortis, will be designed to provide the most advanced seamless sidewall skin system in the marketplace due to its appearance, quality and durability. Based on preliminary discussions with TekModo customers, demand for the patentable, disruptive SpectraLite is anticipated to be very strong.
TekModo announced the delivery of its first shipment of distributed, pelletized activated carbon on Dec. 8, 2016. Since then, the demand for this product has increased and resulted in multiple orders.
The business plan of the company going forward will be to continue to grow the customer base and demand for the current manufactured, assembled and distributed products while in parallel, focusing on the development of the GRP gel coat manufacturing line and the commercialization of the SpectraLite product. This will involve the completion of construction of the GRP manufacturing line, commissioning of the GRP line and development and evaluation by potential customers of the SpectraLite product. The commercialization will be dependant on the quality of the product, the rate at which the product can be produced and pricing enabling TekModo to achieve acceptable margins. Commercialization cannot be assured.
As a result of the January shutdown and the associated interruption to cash flow, the company requires an immediate equity financing to maintain its current business operations and complete the GRP commercialization. Discussions are being held with various parties and progress will be reported in a future news release. The amount and pricing is yet to be determined.
TekModo has made the decision to consolidate all of the company activities in Elkhart, Indiana including administration, accounting and corporate finance. As part of this initiative, Jake Vogel has been appointed Executive Chairman and John Proust has stepped down as Chairman and will remain on the board as Executive Director. Marc LaCounte, a founding Director and former Business Development Officer, has been appointed President. LaCounte has a thorough understanding of the TekModo business operations, suppliers, customers and employees. The board has great confidence in Marc to lead the company and execute the business plan, according to a press release.
"I am pleased to assume the leadership role of President of TekModo and strengthen our business efforts moving forward," LaCounte says. "I am proud to be leading our team and working with the caliber of people that are associated with our business. If we are able to successfully finance our operations, this opportunity will allow me to focus my energy and realize my true passion on building this business, executing our vision and continuing to bring truly disruptive technologies into the marketplace. The opportunity is present; the time is now."
Mary Wetzel has resigned as President and director, for personal reasons, but the company looks forward to working with her in the role of consultant, as TekModo potentially diversifies into the automotive manufacturing industry at some point in the future. Robert Cross, Gordon Keep and Morris Klid have resigned as directors, and Jack Khorchidian as a Director and COO as the company transitions into the USA.
Bill Fenech has resigned as a Director and will be taking on a new role as an Elkhart-based Strategic Advisor joining with existing Strategic Advisor Jeff Schwartz. Fenech and Schwartz will focus on new product development applications, customer relationships and overall business operations.
The reconstituted Board of TekModo now consists of Jake Vogel, Executive Chairman, John Proust, Executive Director, Marc LaCounte and Murray Flanigan. The Officers of the company are Marc LaCounte, President, Vince Boon, CFO and Eileen Au, Corporate Secretary. The Elkhart-based Strategic Advisors are Bill Fenech and Jeff Schwartz.
Vogel is the Chief Executive Officer of Boat Holdings, LLC, the manufacturer and owner of several industry-leading recreational boat brands including Bennington, Godfrey, Hurricane and Rinker. Together these brands represent roughly 30 percent of the market share in the large and growing pontoon boat segment, and 45 percent in the deck boat segment. In his seven-year leadership role with the company, Vogel has achieved more than 11-fold growth in Boat Holdings' business through both acquisitions and organic growth. Prior to his position at Boat Holdings, Vogel spent two years in investment banking, focused primarily on mergers and acquisitions, and almost seven years as a business services consultant with Accenture, where his clients included leading international companies and government agencies such as CN Rail, NASA, Johnson Controls, Corning and PepsiCo. Vogel is a triple major honors graduate with a Business degree from the Indiana University Kelley School of Business, and holds an MBA from the University of Chicago Booth School of Business.
"I am very positive about the direction of the business and moving its leadership more to Elkhart where the core of its operations and customers reside," Vogel says. "The Elkhart team has the necessary knowledge, experience and passion to best manage the business and make decisions. As Executive Chairman and the largest shareholder, I believe in the company's ability to bring value to its customers and the team's ability to execute this plan."
LaCounte is a co-founder of TekModo LLC. He has extensive experience in developing and marketing new technologies. LaCounte was the Senior Business Unit Manager of Specialty Markets for Webasto Thermosystems, a wholly-owned division of Webasto, one of the world's largest automotive industry suppliers. At Webasto, he was responsible for the strategy, product development and commercial conversion of new technologies, where he managed all aspects of the military, industrial/commercial, marine, cargo and RV market groups. He is credited with introducing a revolutionary cargo heating system to the market from concept through to global distribution. LaCounte was the Senior Business Unit Manager for Hoff and Associates Company, which supplies advanced computer-aided engineering and design services. LaCounte was also a managing director of Group Impact, an advanced polymer material science and complex rehologic thermoplastic material development company. LaCounte holds a Business Degree from Indiana University Kelley School of Business.
Fenech brings decades of RV industry experience to TekModo. Fenech started his career in 1989 as the District Manager of Coachmen RV, and went on to become a co-founder of Keystone RV Company in 1996. He held several key management positions with Keystone before ultimately selling the company to Thor Industries in 2001. He continued on at Keystone, and then assumed the role of President of Damon Motor Coach in 2004. In 2010 he took over the presidency of Four Winds International. Both motorhome companies are divisions of Thor Industries. Damon Motor Coach and Four Winds International were merged in 2010 to form Thor Motor Coach, North America's top motorhome manufacturer. After retiring in 2011 from his role as President of Thor Motor Coach, in 2012 Fenech co-founded Grand Design RV Company, a privately owned RV manufacturer focused on quality workmanship, top-level customer service and innovative products. In October 2016, Winnebago announced that it had agreed to purchase Grand Design for $500 million.
"I recently invested in TekModo through an investment group that I am part of," Fenech says. "The reasons for the investment were the products that they were producing at the time and the products that were in the pipeline for production and/or distribution. I remain excited about these products and feel they could be the next generation of mainstream products for the industries they are targeting."
Schwartz has more than 25 years of paint and chemical experience. He owns and manages numerous entities that manufacture, distribute and apply coatings that primarily revolve around wood components, RV/bus, large truck and specialty architectural applications. His focus throughout the entities is designing customer specific products that require unique chemical footprints to solve product issues or constraints.
"TekModo Industries has an excellent offering of building block technologies that will shape more modern manufacturing methods and vastly improve quality, price and performance for many industries," Schwartz says. "I am pleased to bring my experience and resources to the equation to value add to the existing portfolio of TekModo products and help create customer driven solutions that are second to none in the building products space."
The company feels that the newly reconstituted Board, and Elkhart, Indiana based management and Strategic Advisors will create the best opportunity for the business to provide value to its customers and to achieve the future growth and development objectives of TekModo, according to the press release.
ekModo Consolidates Company Activities in Elkhart, Indiana
Wed Feb 15, 2017
148717483589319.jpgVANCOUVER, BRITISH COLUMBIA - TekModo Industries Inc. is providing an update on its current operations and business plan going forward.
At year end, the company experienced an unexpected manufacturing equipment failure which resulted in approximately seven weeks of production down time and substantially reduced sales and cash flow for the months of January and February 2017. The equipment is being repaired and upgraded and the manufacturing schedule is being resumed.
In addition to several existing manufacturing and assembly lines, the construction of the new GRP gel coat manufacturing line is expected to be completed in March and will initially allow the company to produce commercial samples of SpectraLite exterior skin replacement, for initial select customers. TekModo intends to commercially launch its SpectraLite product in July 2017. SpectraLite is a highly engineered exterior wall panel to be produced in a continuous process, resulting in a high-gloss seamless panel with improved optics, reduced weight and extreme durability. After completion and subject to testing, this product, when integrated with the company's proprietary substrate (secondary layer) material, Fortis, will be designed to provide the most advanced seamless sidewall skin system in the marketplace due to its appearance, quality and durability. Based on preliminary discussions with TekModo customers, demand for the patentable, disruptive SpectraLite is anticipated to be very strong.
TekModo announced the delivery of its first shipment of distributed, pelletized activated carbon on Dec. 8, 2016. Since then, the demand for this product has increased and resulted in multiple orders.
The business plan of the company going forward will be to continue to grow the customer base and demand for the current manufactured, assembled and distributed products while in parallel, focusing on the development of the GRP gel coat manufacturing line and the commercialization of the SpectraLite product. This will involve the completion of construction of the GRP manufacturing line, commissioning of the GRP line and development and evaluation by potential customers of the SpectraLite product. The commercialization will be dependant on the quality of the product, the rate at which the product can be produced and pricing enabling TekModo to achieve acceptable margins. Commercialization cannot be assured.
As a result of the January shutdown and the associated interruption to cash flow, the company requires an immediate equity financing to maintain its current business operations and complete the GRP commercialization. Discussions are being held with various parties and progress will be reported in a future news release. The amount and pricing is yet to be determined.
TekModo has made the decision to consolidate all of the company activities in Elkhart, Indiana including administration, accounting and corporate finance. As part of this initiative, Jake Vogel has been appointed Executive Chairman and John Proust has stepped down as Chairman and will remain on the board as Executive Director. Marc LaCounte, a founding Director and former Business Development Officer, has been appointed President. LaCounte has a thorough understanding of the TekModo business operations, suppliers, customers and employees. The board has great confidence in Marc to lead the company and execute the business plan, according to a press release.
"I am pleased to assume the leadership role of President of TekModo and strengthen our business efforts moving forward," LaCounte says. "I am proud to be leading our team and working with the caliber of people that are associated with our business. If we are able to successfully finance our operations, this opportunity will allow me to focus my energy and realize my true passion on building this business, executing our vision and continuing to bring truly disruptive technologies into the marketplace. The opportunity is present; the time is now."
Mary Wetzel has resigned as President and director, for personal reasons, but the company looks forward to working with her in the role of consultant, as TekModo potentially diversifies into the automotive manufacturing industry at some point in the future. Robert Cross, Gordon Keep and Morris Klid have resigned as directors, and Jack Khorchidian as a Director and COO as the company transitions into the USA.
Bill Fenech has resigned as a Director and will be taking on a new role as an Elkhart-based Strategic Advisor joining with existing Strategic Advisor Jeff Schwartz. Fenech and Schwartz will focus on new product development applications, customer relationships and overall business operations.
The reconstituted Board of TekModo now consists of Jake Vogel, Executive Chairman, John Proust, Executive Director, Marc LaCounte and Murray Flanigan. The Officers of the company are Marc LaCounte, President, Vince Boon, CFO and Eileen Au, Corporate Secretary. The Elkhart-based Strategic Advisors are Bill Fenech and Jeff Schwartz.
Vogel is the Chief Executive Officer of Boat Holdings, LLC, the manufacturer and owner of several industry-leading recreational boat brands including Bennington, Godfrey, Hurricane and Rinker. Together these brands represent roughly 30 percent of the market share in the large and growing pontoon boat segment, and 45 percent in the deck boat segment. In his seven-year leadership role with the company, Vogel has achieved more than 11-fold growth in Boat Holdings' business through both acquisitions and organic growth. Prior to his position at Boat Holdings, Vogel spent two years in investment banking, focused primarily on mergers and acquisitions, and almost seven years as a business services consultant with Accenture, where his clients included leading international companies and government agencies such as CN Rail, NASA, Johnson Controls, Corning and PepsiCo. Vogel is a triple major honors graduate with a Business degree from the Indiana University Kelley School of Business, and holds an MBA from the University of Chicago Booth School of Business.
"I am very positive about the direction of the business and moving its leadership more to Elkhart where the core of its operations and customers reside," Vogel says. "The Elkhart team has the necessary knowledge, experience and passion to best manage the business and make decisions. As Executive Chairman and the largest shareholder, I believe in the company's ability to bring value to its customers and the team's ability to execute this plan."
LaCounte is a co-founder of TekModo LLC. He has extensive experience in developing and marketing new technologies. LaCounte was the Senior Business Unit Manager of Specialty Markets for Webasto Thermosystems, a wholly-owned division of Webasto, one of the world's largest automotive industry suppliers. At Webasto, he was responsible for the strategy, product development and commercial conversion of new technologies, where he managed all aspects of the military, industrial/commercial, marine, cargo and RV market groups. He is credited with introducing a revolutionary cargo heating system to the market from concept through to global distribution. LaCounte was the Senior Business Unit Manager for Hoff and Associates Company, which supplies advanced computer-aided engineering and design services. LaCounte was also a managing director of Group Impact, an advanced polymer material science and complex rehologic thermoplastic material development company. LaCounte holds a Business Degree from Indiana University Kelley School of Business.
Fenech brings decades of RV industry experience to TekModo. Fenech started his career in 1989 as the District Manager of Coachmen RV, and went on to become a co-founder of Keystone RV Company in 1996. He held several key management positions with Keystone before ultimately selling the company to Thor Industries in 2001. He continued on at Keystone, and then assumed the role of President of Damon Motor Coach in 2004. In 2010 he took over the presidency of Four Winds International. Both motorhome companies are divisions of Thor Industries. Damon Motor Coach and Four Winds International were merged in 2010 to form Thor Motor Coach, North America's top motorhome manufacturer. After retiring in 2011 from his role as President of Thor Motor Coach, in 2012 Fenech co-founded Grand Design RV Company, a privately owned RV manufacturer focused on quality workmanship, top-level customer service and innovative products. In October 2016, Winnebago announced that it had agreed to purchase Grand Design for $500 million.
"I recently invested in TekModo through an investment group that I am part of," Fenech says. "The reasons for the investment were the products that they were producing at the time and the products that were in the pipeline for production and/or distribution. I remain excited about these products and feel they could be the next generation of mainstream products for the industries they are targeting."
Schwartz has more than 25 years of paint and chemical experience. He owns and manages numerous entities that manufacture, distribute and apply coatings that primarily revolve around wood components, RV/bus, large truck and specialty architectural applications. His focus throughout the entities is designing customer specific products that require unique chemical footprints to solve product issues or constraints.
"TekModo Industries has an excellent offering of building block technologies that will shape more modern manufacturing methods and vastly improve quality, price and performance for many industries," Schwartz says. "I am pleased to bring my experience and resources to the equation to value add to the existing portfolio of TekModo products and help create customer driven solutions that are second to none in the building products space."
The company feels that the newly reconstituted Board, and Elkhart, Indiana based management and Strategic Advisors will create the best opportunity for the business to provide value to its customers and to achieve the future growth and development objectives of TekModo, according to the press release.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 14, 2017) - TekModo Industries Inc. (TSX VENTURE:TEK) ("TekModo" or the "Company") is providing an update on its current operations and business plan going forward.
Highlights
- Jake Vogel becomes Executive Chairman.
- Marc LaCounte assumes the role of President.
- Bill Fenech joins Jeff Schwartz as an Elkhart based Strategic Advisor.
- Equipment failure causes seven weeks of production down time. Production is now resuming.
- The GRP gel coat manufacturing line is expected to be completed in March 2017.
- Multiple Activated Carbon orders received.
- Need for immediate financing.
TekModo manufactures, assembles and distributes a wide range of advanced composite material to the RV, trailer, panel van, box truck, shuttle bus and marine industries from its 50,000 square foot facility in Elkhart, Indiana. RV customers are demanding superior quality and manufacturers are confronting increasing warranty claims. TekModo products fulfill both consumer and manufacturer goals by replacing legacy wood construction with vastly superior advanced composite materials.
Operational Update
At year end, the Company experienced an unexpected manufacturing equipment failure which resulted in approximately seven weeks of production down time and substantially reduced sales and cash flow for the months of January and February 2017. The equipment is being repaired and upgraded and the manufacturing schedule is being resumed.
In addition to several existing manufacturing and assembly lines, the construction of the new GRP gel coat manufacturing line is expected to be completed in March and will initially allow the Company to produce commercial samples of SpectraLite™ exterior skin replacement, for initial select customers. TekModo intends to commercially launch its SpectraLite™ product in July 2017. SpectraLite™ is a highly engineered exterior wall panel to be produced in a continuous process, resulting in a high-gloss seamless panel with improved optics, reduced weight and extreme durability. After completion and subject to testing, this product, when integrated with the Company's proprietary substrate (secondary layer) material, Fortis, will be designed to provide the most advanced seamless sidewall skin system in the marketplace due to its appearance, quality and durability. Based on preliminary discussions with TekModo customers, demand for the patentable, disruptive SpectraLite™ is anticipated to be very strong.
TekModo announced the delivery of its first shipment of distributed, pelletized activated carbon on December 8, 2016. Since then, the demand for this product has increased, and resulted in multiple orders.
Business Plan Going Forward and Financing
The business plan of the Company going forward will be to continue to grow the customer base and demand for the current manufactured, assembled, and distributed products while in parallel, focusing on the development of the GRP gel coat manufacturing line and the commercialization of the SpectraLite™ product. This will involve the completion of construction of the GRP manufacturing line, commissioning of the GRP line, and development and evaluation by potential customers of the SpectraLite™ product. The commercialization will be dependant on the quality of the product, the rate at which the product can be produced, and pricing enabling TekModo to achieve acceptable margins. Commercialization cannot be assured.
As a result of the January shutdown and the associated interruption to cash flow, the Company requires an immediate equity financing to maintain its current business operations and complete the GRP commercialization. Discussions are being held with various parties and progress will be reported in a future news release. The amount and pricing is yet to be determined.
Transition to Elkhart, Indiana and Associated Leadership Changes.
TekModo has made the decision to consolidate all of the Company activities in Elkhart, Indiana including administration, accounting and corporate finance. As part of this initiative, Jake Vogel has been appointed Executive Chairman and John Proust has stepped down as Chairman and will remain on the board as Executive Director. Marc LaCounte, a founding Director and former Business Development Officer, has been appointed President. Mr. LaCounte has a thorough understanding of the TekModo business operations, suppliers, customers and employees. The board has great confidence in Marc to lead the Company and execute the business plan.
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