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I agree, they have the ability to call in up to 45-50 workers on a days notice.
So lets hope that is what is happening. If they are, that's exactly what we would hope they are doing. You scale up and scale down according to your needs.
GLTA, GOODH2O1
Let me refer you to the conference call, Chuck Pinkerton referred to the hiring company where they could have 40-50 workers at anytime.
So they only thing I can think of is since monday they are working 2 shifts. I was quite at the conference call with the same concern.
However, it is a concern I have had since the conference call. What they are saying and how many people are at the plant do not match. Each time I have posted is based on my most recent visits to the plant.
I did see workers there on a saturday in January. However, it was only one saturday. The same week they were working 2 shifts, but as of last monday at shift change there were not 2 shifts, based on my conversation with people waiting to pick up a worker.
I definitely am getting an uncomfortable feeling, but there seems like too much upside to get out.
What I've seen does not much with the reports from the conference call and from what Rainier is telling Bogs.
I've got the picture of colortek posted here, I've been there, I want and need for this thing to do well. I think it has all the potential to do better, but what they are saying is not matching with my visits to the plant.
If I wanted this to tank, I would have brought this all up right after the conference call. I had all the same info and concerns at that time. However, I waited to confirm the single shift on two different occasions since the conference call.
I've got about 7000 reasons to lie for the company, I don't lie for anybody. Let's hope they called for workers since monday.
GLTA, goodh2o1
There are not 2 shifts running as of last monday. As of last Monday at shift change there was not 2 shifts. Now there might be a saturday shift and they might be working 2 shifts now, but there was not a second shift and no talk of a 2nd shift last monday.
Well there could be more workers. There is a back entrance with 12 cars parked back near that entrance. There could be some people riding together gas is close to $4.00 dollars around that area.
Then there is a front entrance where another 3 vehicles park.
The guy I talked to Monday was there to pick someone up from work.
In January there was 15-16 cars parked in the back, when one of the workers told me there was 18 workers on the first shift and 4 working the second shift.
It was nice to get the Roush work, but how many are we looking at maybe 500, 1000 Roush Mustangs. It should bring more business to MWWC, but they are not going to make us rich off the Roush business.
The CNH is what needs to get tied down. Signed contracts, production started that will pay the bills and make money.
I won't be able to get by the plant for several weeks.
GLTA, goodh2o1
Based on my visits to the plant, I see approximately 12-15 workers, and 3 other people.
Early December there were 12, got up to about 18 early mid January and had a second shift of 3-4 for a few weeks. They have eliminated the second shift for now and moved those workers to days.
This is per the conversation I had with people on this last Monday.
So as of this last Monday, it looked like 12 workers and 3 other people. I thinking the others are administrative, shipping, logistics, and supervisory personnel.
During early mid January there were up to 18 vehicles and 3 others in the parking lot.
FYI, glta, goodh2o1
I visited the plant again on Monday. They are still only working one shift as of Monday.
fyi, goodh2o1
Check out my posts about visiting the Baroda facility.
If you have any other questions I might be able to answer, just ask.
NO second shift working this week. fyi
Shifts!!! As of last week, we were only working 1 shift.
That's right 1 shift, when I visited the plant at 8pm central, there were no cars in the parking lot and no lights on at the entrance doors.
I didn't bring it up then because most of the hype had settled. In addition, they worked some 7 days a week which I didn't find out about until they had stopped. As Pinkerton said they have the ability to ramp up and ramp down on day to day basis.
Go MWWC, GLTA
CFO leaving, in my opinion only, I think he was asked to leave based on some of the conversions that were negotiated.
Some of the conversions were helpful, some not so helpful. Maybe a little carelessness on his part, or heck maybe he just had a better opportunity to go else where.
I didn't care for some of the conversions and I think they hurt the company on a short term basis. Based on the other cost cutting measures Pinkerton has installed, I would imagine a large disagreement on how some of the conversions were negotiated, based on how many shares it cost the company. He did leave within 2 weeks of our trading low.
IMO, GLTA
FYI, He has left the company, I believe in December.
The reason we don't have a PR on the big contract is the contract is "NOT" signed and a done deal, in my opinion.
When they disclosed the name the other day it was only a disclosure not a signed deal, were close, we have made the prototypes, we've done a production run, were setup to start in April. We do not have a signed contract in hand. If we did we would have the PR.
I have an issue with shifts mentioned the other day, but haven't had a chance to double check, so I haven't brought up the difference in the amount of people working versus the quote of number of workers in the CC.
I will do my own check on the number of people working and report what I find. I was told they were working seven days a week. But the first sunday I checked they were not working. I hope were working 2 full shifts, but I was told three weeks ago there was only a skeleton crew on the second shift.
However, since we have shifted all logistics and shipping to Borada,MI. We very well could have 40 plus people working there.
I was only under the impression that about 20-23 people were working there, but that info is three weeks old.
Nice Summary of the reasons we believe in this company.
GLTA, GOODH2O1
Fyi, Overtime. Nobody was working on Sunday. I was told on Saturday by a source that Borada, MI was working 7 days a week. i went by the plant on Sunday they were not working.
They did work saturday, who knows maybe they got the overtime job done.
GLTA, GOODH2O1
Loss of facilities Page 6, refers to Howell as our offices and fulfillment facility, blah, blah, blah, could easily be moved.
Page 2 Colortek refers to Borada, MI as being the facility were "the majority of our future business to come from." It also refers to household and industrial work.
There may indeed be industrial/commercial clients. I'm looking for someone like Deere and Whirlpool, not more auto clients.
The person I talked to referred to an Italian company that had not been finalized as of the 18th as far as he knew. But, Hey he is just a worker and probably out of the loop. But as of the 18th he hadn't heard about a confirmation about it.
I find his info to be valid because it would cause a change of product. There's eighteen people there, anything new is going to get talked about based on my factory work experience. Everybody takes breaks together, gets pissed together, but they could have some of it wrong. Maybe its a done deal, just to be started later, I can hope.
GLTA
No update on the commercial/industrial news since the 18th.
I believe the Howell facility is only a distribution point and not a manufacturing point.
As far as how much can go into a trailer.
I figure at least 30 pallets. The spoilers and items I saw in the parking lot had an items count of 120 per pallet. I really thinking this was for a Malibu spoiler. So 120 times 30 is 3600 for a Malibu spoiler for a truck load. I don't know the dynamics of or if we are in the truck load business. Given our specialty type of items we make, were probably doing less than truck load quantities. I saw boxes for 4-5 different product lines in the parking lot about 3 weeks ago.
Those are all gone. The paint booth in the parking lot may now be inside? Or, maybe we have sold it.
I'm going to be up there tomorrow. Besides gambling on penny stocks, I gamble in general. They had a drawing for 2 new trucks today, going up tomorrow for a free night at the casino. I will check out production tomorrow to see if the info I got today is true. Won't post the info till probably monday afternoon. Can't find the android app for Ihub, either that or my phone can't handle it.
Glta, goodh2o1
It's OVERTIME. Just back from recent visit to the plant today.
We are working overtime. Did not get to speak to anyone at the plant.
Typical day there are 18 vehicles in the lot on a daily basis. Today there were 9 vehicles in the lot.
I was encouraged by this and continued my visit to Four Winds Casino. Just so happens I again saw someone who know people who work at Colortek. They have been on mandatory 7 days a week for the last 2 weeks.
We must be busy would be my conclusion. But maybe that is just a pinky wish.
GLTA
Production.
Based on what I read in the quarterly and annual reports. The only place with production is Borada, MI. at Colortek.
We have had other people in the past and other facilities that we owned making stuff. We have closed those or no longer use them to my knowledge.
We have three lines at Borada, MI.. Two lines are for painting, one line is used for priming parts.
There are 18-20 people employed on the 1st shift, and 3 looking to hire a 4th on the second shift.
I went by the plant on the 14th of January, which was a saturday, they were not working that saturday. I went by the plant on Wednesday the 18th and picked up the info about shifts and numbers of workers.
I was also told at that time that there was no other commercial work being done at that time. I've been by the plant 5 times since the 29th of November.
GLTA, goodh2o1
I agree he is a good moderator.
I asked that he be even-handed.
A quick review of my posts does not show me bitching. I merely ask for facts.
I had a post taken down earlier this month by Bog, it has since been restored by IHUB. As I stated earlier, I only wish that he be even-handed.
Your always sugar coating the reality.
Remember, we were promised a Conference call during the first 2 weeks of January.
If your going to be a moderator, be even handed or give the job up.
The facts are the facts, production was promised in December, it was pushed back to January. As of last wed, it was not a go.
My central and only theme is to find out our production capacity. Based on those numbers I can figure out if I want to stay invested in MWWC.
We had a production run. We probably proved we could run the product.
I talked to someone who would know. He said it wasn't a done deal.
Read my previous posts, it should be very obvious how I would find the information out.
It issue is "How much can we realistically expect to produce".
Until we know our production capacity at the Baroda MI facility, you are dead in the water.
I am hoping we are capable of 10 million a quarter at this facility.
When we had other production capacity, the maximum we ever produced company wide was approximately 2.3 maybe 2.5 per quarter.
When you have only produced 2.5 million on a quarterly basis in the past. How do you realistically bid on 130 million in RFQs.
It is great to bid on 10 times more revenue, but we have never shown we can produced 2 times our maximum output.
We shut down our facility in Europe, the paint facility in Elkhart, IN. is no longer mentioned.
We have the ability to sub out our work, which means less profit for us.
GLTA, GOODH2O1
I think the only industrial/commercial client is GSI International at this time.
We may be negotiating with others. The rumor I heard was a company from Italy regarding farm tractor type equipment. It is not a done deal.
fyi, goodh2o1
As previously stated, I went by the plant yesterday.
They have 2 paint lines, 1 line is used for priming, which equals 3 lines of production.
They have 2 shifts. Approximately, 18-20 people on the 1st shift and 3 person skeleton crew for the second shift. They are looking to hire another paint person for the second shift.
They utilize a hiring service, so I do not think they are a union shop.
I visited the Four Winds casino, yesterday evening and found a person there who was related to 2 workers at Colortek. They were recently asked to take a pay reduction, the request was not received well from what I heard.
I know when I went by the place on 29th of November, there were only 12 vehicles in the parking lot. After new years, I went by and there were 15 vehicles in the parking lot. The workers had started leaving before I go there yesterday, so I did not get a count yesterday.
fyi, GLTA
10K where is it posted at? Has it came out?
Conversion.
In theory, all of the notes could have been converted to shares?
I thought that was their option to convert at anytime. That maybe why the shares were purchased at .02 on the wed before Thanksgiving, when the stock was trading at .005
Just want to make sure they could have all been converted.
Conference call.
I received an e-mail last week from Investor Relations.
Portner had surgery and was recovering. I suspect that is why we have a delay in the PR and Conference call.
I had numerous questions, which I have posted here. He told me he would get back to me in a few days. But I haven't had any additional contact from him.
FYI, GLTA
Colortek photo. Thanks for help in getting the image loaded up.
I think we will get better numbers for our current quarter than we expect. The second line was running during that period. The third line was up for the last quarter so numbers should be better.
I'm a little computer challenged this morn.
Went by the plant in Borada, MI yesterday to get a photo of the plant for some naysayers and to check to see if were working overtime, this last Saturday.
Got the photo, but can't figure out how to get to link on here. I think I can e-mail it, if a moderator would like to send me an e-mail link I'd be happy to send it to them.
By the way there was no activity when I arrived, approximately 11 am on saturday the 14th.
As I turned around in the parking lot in the back there appeared to be a paint booth assembly sitting in the parking lot of the rear of the building. I can only speculate we may be trying to sell it to another company? Scrap steel was about 200 a ton, 10 days ago. The metal was neatly stacked, but snow covered.
I will be in the area on Wednesday and will check to see if we are running a second shift.
fyi, goodh2o1
Well I agree there is new management.
New management claims a 50 increase in product, with 40 reduction in cost.
They started a second line and installed a third line for production at colortek.
So taking best case of year 2007 we are producing about 2.2 millionper quarter, we get out 50 increase in production to 3.3 million, then times that 2 times for the second and third production line gets us to 9.9 million on a quarter to quarter basis.
This is all based on approximately 9 million in revenue from 2007.
We can outsource. But to make our best profit we need to make the stuff ourselves.
It still boils down to our estimated production figures from colortek. Mazda, Ford, Chevy, Toyota, all had to certify that could make their product, I'm sure they had the same questions.
Let's hope it is all true, because "I wanna be RICH".
I genuinely hope this stock ends up with a PPS of more than a dollar. It has potential, we seem to have bid enough 130 million in RFQs. The only thing we don't know is how much the plant in Borada, MI can produce.
One would hope we could produce in the 50 million dollar range.
However, we have only ever projected sales of 11 million prior to the economic collapse.
That is the key, how much can we produce. I've ran a business before, sometimes you bid on jobs that you have no intention of getting. So you bid those jobs higher, knowing you will never get the job. I suspect some of the 130M in RFQ's fall into this category.
I hope we have several multi year contracts which are getting us to the 130M in RFQs.
It is still hard to get past the fact that we have never produced more than 9 plus million in revenue for a year.
Based on those types of figures, the increase in OS, we are probably looking at a .20-.30 cent stock. Which puts me very near retirement.
GLTA
I think this post is misleading and unrealistic.
We have never before been projected to generate more that 11 million in a year before. That year was 2007.
To be constantly posting this is stepping way over the line in my opinion.
I look to get rich off this stock, but some kind of realism needs to be used.
Imo
3.2 after hours.
Was that a purchase or a sell in the after market, right after the close yesterday?
Talked to a guy last night who just got called back to his job.
He works at a plant in Hammond, IN. they make seats for ford cars and SUvs. They just started up their second shift and may put on a third shift by April.
Got to like the surge in autos.
glta
I expect good numbers from the current quarter to be reported.
I expect blow out numbers from the quarter closing in December.
This isn't Portners first rodeo, I expect numbers sufficient to be above the .04 level.
We are headed in the right direction and he knows this already. He didn't buy 60K worth of stock to see it go backwards.
With the cutbacks on expenses, the increased efficiency we will see really good numbers. I would predict revenue projections of about 5 million for the coming year with 9 million for the next year, 15 million for the 3 year out.
We project $11 million in 2008 I think was the year.
It still all depends on how much capacity we have at Colortek and our subcontractors. I'm not interested in handling dollars,I'm interested in making a profit. Plenty of companies handle large dollar amounts and make no profit.
This is the main reason I want to know our total capacity at Colortek, before we have to start outsourcing our profits will go down when we outsource.
GLTA
Doing a little more leg work.
I did find where we had a painting facility in Elkhart, IN AutoFX in a Dec 07 press release.
Painting from American Autocoat, Hudsonville, MI the town may be wrong the company name is right, Sep 08.
From this fall one of our painters maybe a A K fininishing, listed with American Autocoat as one of our subcontractors.
I like the fact we can possibly gear up for more work, however that always comes at a higher expense.
I don't see the AutoFX as a listed Sub from the press release this fall.
Well I agree with all you have to say. I've drank the Kool Aid.
As for pictures, I will post them as soon as I can of the factory.
The building is actually closer to the town of Bridgman, MI. I live about half way between Indianapolis and Chicago along I-65.
The factory is less than 2 hours from my house.
The building is white. It faces to the north. It has a walk out man door and an over head for UPS deliveries, facing north. In addition, there is a 1 semi door which faces to the north.
The west side is not accessible. The east side is for parking and has the offices for this facility. The office door were locked with no lights on the day I visited. The office portion is bricked. The parking lot had 15 vehicles in the parking lot, three more than the day I was told (29 November)they were planning on hiring more workers in December.
There is a front sign which is on about a 4' mound, which says COLORTEK.
They already use JIT.
They get their products from Pinnacle and Polytech. They have storage and distribution at the Howell offices. At least they did in the past, I don't know about the new office.
I've worked in a production plant. The numbers don't appear to make sense at this time. That's why I want the questions answered at the press conference.
I have a tremendous amount of shares and want this to succeed.
If I have these questions, I'm sure many other people with the same questions.
Not brand new to the board.
My main concern is we have only had 9 million in revenue with a projection of up to 11 million in the past.
How in the world can you bid 130 million of contracts when your only probably realistically capable of 30 million, and that's guessing way high on that estimate.
More storage more production equals more expenses.
There is a white paper from 2007 details that the companies expect to get about 1 of 5 bids.
I don't think the numbers ad up in the end. Now if the bid is 50 million over 5 years, which includes 10 different RFQs well that would make sense.
The quotes on the RFQs for bids and total amount of the quotes do not make any sense.
Your making widgets, your capable of making 50 widgets an hour. You put in 3 lines and make 150 per hour. You cut expenses and increase productivity. Based on MWWC numbers they would then be capable of 600 per hour. Even using a best case scenario, I don't think they are capable of reaching a 20 percent rate of the RFQ dollar figure or the RFQ quote figure.
I want this to work, but don't blow smoke..
Here is my e-mail to Porter.
The main point of my questions is to find out about our total production capacity.
Based on previous interviews, we have had a 50% increase in production with a 40% decrease in expenses.
We have closed some of our capacity during this streamlining process.
Best I can figure we have never had more than 20 million in RFQ's.
We have 3 lines at Colortek, how many are in production?
How many shifts are we running. 2? 3?
How can we bid 120M in RFQ's when our maximum projected revenue was 11M for 2011.
I realize we will never get all the bids. However, if we only get 20% were going to be hard pressed to meet such demands. Will this mean buying more land, subcontracting this work out?
From my point of view, it seems unrealistic to bid so much more than we can possibly produce.
Hopefully, we can produce at this higher level. I just don't see how it will be possible.
FYI, I've actually been by the plant. A source told me right after Thanksgiving that they were going to be hiring 5-6 more people. When I went by there 2 days ago, there were three more cars in the parking lot, then there were on the 29th of November. I'm hoping there are 2 shifts, but I haven't had the chance to be by there in the afternoon.
I realize you can't answer many of these questions until the conference call, but if you could answer them then I would appreciate it.