A recent excellent follow up w CEO! Posted by: alopex63 and confirmed by SharonB which follows.
In reply to: None Date:5/8/2007 1:55:10 PM
Post #of 5065
OK, I just spoke to Radomir. He says that as far as the N. African deals are concerned, everything is complete, and receiving the money is just a matter of time. Things have been delayed thus far by the need to deal with N. African gov't agencies over inspections, etc., and also the complexities of the international banking system-- arranging trading accounts, letters of credit, American/Canadian banks communicating with N. African banks, etc. He believes that by the end of May/early June they will be able to announce resolution of those issues, as well as "a few" other deals.
Confirmation voice only. I asked him for an e-mail I can post to the board. He indicated possibly this weekend.
I also talked with Radomir yesterday for the first time and can confirm the same was told to me. I felt reassured by his knowledge of international banking. We discussed moving to Dubai as they are western friendly and have respect in that part of the world. He preferred Saudi Arabia which also makes sense. In that part of the world contacts who have juice are all important and his father worked and lived there. His father was involved with the shipping industry with a large number of ships. We have name recognition and family friends on our side. Our cost basis of operations is quite low as most all are part timers with their own other source of income. Radomir is not especially interested in solely making a lot of money and is more interested in building the business and draws a minimal salary. His business philosophy can be evidenced by his insistence in establishing long term contracts rather than a single or couple of transaction deal. It is too easy to change conditions of the contract from shipment to shipment even to the point of cancellation. He is very much interested in cement contracts in the Baltic region where we also have contacts. There is tremendous growth in that region and cement demand is huge.
Heaven only knows what else is on his mine.
SharonB 10/10/2007
