Sigma Labs Inc (SASI)

[alanthill]

Chef:

I sold all my SGLB shares sometime ago. I continue to have a strong interest in the company because I have many close friends who are current or retired employees at the Lab and I know the quality of R&D
that goes on there. I also attended the last Board meeting and was extremely impressed with Mark and with the Board members. There were only a very few of us in attendance at the meeting and we had an extended opportunity to interact. I made as strong a case as I could at that time about the need to bring on additional outside Board members with strong startup credentials. They did bring on O'Mara very shortly after that but that is clearly not enough to change things around. Right now I see SGLB as a very insular self-contained organization that does not feel that they have to answer to anyone. This is evident in the lack of shareholder communications, the repeated miss on self announced commitments, and some (what I consider to be ) bonehead moves like the outright purchase of a 3/4 million dollar printer (that has yet to be delivered). It is extremely hard for me to understand why time could not be leased on a close by printer, or at worst enter into a lease instead of a purchase agreement on the printer they acquired. The excuse that it was going to be a revenue generator for custom made parts was simply laughable.

I'm watching the share price closely now and while I'm still uncomfortable with the current risk/reward the share price is getting closer to where i will be a buyer once more. If I buy in before the Board meeting, I will almost definitely attend, if not of course I will not attend.