Directors hold 38% of o/s. PPS seems to jump both up and down. look in Mar - Apr. for a likely price spike.
33,656,987 o/s
I received this email yesterday from Travis Patterson, Investor relations.
In January 2009 Mirenco signed an exclusive agreement with Whayne Supply as a result of many years of a working relationship between the two companies. Prior to this agreement Mirenco and Whayne saw market potential more readily reached through equipment distributors who already have the experience and an existing relationship with their customers and the heavy diesel equipment they already service.
Whayne and Mirenco’s strategy was to market Mirenco products and services through the existing Caterpillar network and then to expand this market to other equipment distributors. Mirenco would have access to the Caterpillar marketing base and Whayne would have access to services and products for their customers that no other company provides.
The economic downturn that occurred during this time and continues today has forced many of Whayne and Mirenco’s potential customers and potential distributors to cut costs and reduce any new spending. Existing Mirenco and Whayne customers are continuing to utilize Mirenco’s products and services to save fuel and reduce emissions. In fact, some are planning to increase Mirenco’s involvement with their fleet vehicles in 2010.
Historically, the Mirenco stock price has fallen at this time of the year, however Mirenco and Whayne have been doing a number of things to get us through these difficult financial times. Mirenco has cut spending as much as possible without sacrificing the services we offer. In spite of the economic downturn Whayne has set up a new technology division which Mirenco is a major part of. This new division’s sole purpose is to market available Mirenco and Caterpillar technologies. New marketing strategies have been implemented in the final quarter of this year. For example, Whayne has begun installing Mirenco products and emission testing all of their rental equipment and lot equipment as a sales aid, increasing commissions for sales representatives, and exploring new marketing strategies.
Since Mirenco’s agreement with Whayne many potential distributors and potential customers have expressed great interest in Mirenco’s products and services. Mirenco believes the agreement we signed with Whayne early this year is still the best for Mirenco’s future. As the economy continues to improve throughout the first and second quarter of 2010, we believe our revenues will increase as a result of these relationships.
If you have any other questions, please do not hesitate to contact us.
Travis Patterson
Database Manager/Investor Relations
Mirenco, Inc.
206 May Street
Radcliffe, Iowa 50230
Tel: 515-899-2164 515-899-2164
Fax: 515-899-2147
tpatterson@mirenco.com
