SMTR Unlimited A/S Vote Meet 12/10
$0.032 could be <0.02 State of Inc: BRITISH COLUMBIA 1987
7. To consider and, if thought fit, to approve the formal stock incentive plan providing for the granting to eligible employees, directors, officers and consultants of the Company or any Related Entity;
8. To consider, and if thought fit, to approve the following special resolution amending the restated articles of incorporation of the Company to change the authorized number of Common Shares of the Company from 300M Common Shares without par value to an unlimited number of Common Shares without par value.
ADDITIONAL COMMENTARY:
"Based on existing market conditions at the time, we had anticipated a significant increase in revenues during this past fiscal year," said Robert Rudman, President and CEO of SmarTire. "However due to the continued delay of the TREAD Act that mandates the use of tire pressure monitoring systems on passenger cars, major orders did not materialize. As a result, our revenues are slightly less than last year. Also in 2004, we invested considerable time and effort establishing product acceptance and distribution channels for our tire pressure monitoring systems in other markets such as motorcycles, recreational vehicles, buses and commercial vehicles. With the Tread Act now in place, as fully described in our September 20, 2004 news release and our complete product line ready to ship, we anticipate 2005 will be a break-out year for SmarTire."
Pennies not a zero sum game as much as some zero game.
