Good afternoon members. I finally got some time to really look at the 14A, and I was absolutely shocked to see TXP has disclosed the customer for their $5.2M photonics project -- none other than tech giant FoxConn.
>>Marketing and promotions and travel decreased by $26,000 and $16,000, respectively, as the company and management focused on the execution of operations especially the $5,240,000 pre-manufacturing services project (the "Project") subcontracted to TXP from Foxconn, a large tier 1 contract manufacturer. <<
Never heard of them? Here is some DD on just how big these guys are. Needless to say, this is yet another example where Texas Prototypes is working with another of the world's largest technology companies!
>> For 2005 Foxconn's revenues reached approximately US$5-6 billion which was up compared to US$3.3 billion in 2004. For the fiscal year 2006 Foxconn expects to rise further in revenue, at least 30%.
Rumors said that Foxconn would acquire the Taiwan based CCL provider Uniplus Electronics but that was declined to DigiTimes by Foxconn's spokesman Vincent Tong. <<
<< Recent evaluations by investment banks Goldman Sachs and JP Morgan have pushed Foxconn Electronics (the registered trade name of Hon Hai Precision Industry) to a peak market value of NT$854 billion (US$26.7 billion), according to market sources. >>
If Goldman Sachs and JP Morgan both cover Foxconn, and believe they worth $26.7B dollars - don't you think someone is going to start to notice TXP is getting some of their subcontracting work? Even post- merger, TXP will be a tiny $30M operation. Even at the $100M level where I believe it deserves to (and should) trade, TXP has quite a bit of growth ahead of it.
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