Capstone Companies Inc (CAPC)

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CAPC 8-16-21 Transcript : https://sec.report/Document/0001575705-21-000538/

Wallach: Based on this most current information, it is anticipated that shipments will commence before the end of August. We will, regardless of the cost, fly in the first round of inventory as previously committed to. As the largest Capstone shareholder, I'm acutely sensitive to the frustrations that investors are all experiencing with the delay of the product launch. Rest assured, your management has never lost sight of its goals and have taken proactive steps to maximize the program potential for the balance of 2021.
In addition to the testing timelines, supply chains have been impacted and logistics, costs, and space availability have presented challenges as well. To help mitigate the supply chain bottlenecks going forward, we have placed component order as well in advance, which will enable us to produce an estimated 3,000 mirrors in Q3. Depending on the customer demand in the weeks ahead, we are prepared to further commit to long lead time components for an additional 2,000 mirrors for Q4 production.

Frankly, there is no playbook for the adversity we have faced as a company during the pandemic. Many companies have simply closed their doors as they face defeat in these difficult times. I think is important for all of us to recognize that the Company has not only survived this global crisis, but is on the verge of launching its most impressive innovation in the Company's history. The fact that we are soon to enter the smart home market with our Capstone Connected Smart mirrors is at the very least commendable.
We are well-positioned to take our place in the 21st century technology arena and look forward to focusing our energies and growing the Company's revenues and increasing shareholder value. Keep in mind the market we are entering is explosive. The management remains optimistic and enthusiastic because the program potential is clear.