I went to their presentation this morning. Sami Ahmad, CFO gave the slide presentation which was basically the same presentation on their website. One thing I was impressed by was the fact that he didn't sugar coat anything. He was upfront on the disappointing 2nd quarter and took responsibility for some of the failures rather than blaming them solely on their customers. For me, to see him standing in front of a room full of investment fund managers trying to convince them to investment in his company and not bullshitting them was admirable. You asked about new customers and they are close to finalizing a deal with a Canadian sand oil company. They are definitely selling their stake in AMAK. Almost sounds like it could be happening soon. I would be surprised if they still have their stake in 6 months. Until then, AMAK is providing a good revenue stream to the company. He said the sale of AMAK should get over $100 million for the company AFTER taxes which is great. I asked if that happens and they payoff/down debt has there been any discussion on a dividend. He said no. They want to build the company which will build shareholder value. I take that to mean share price. Wasn't impressed with the slide presentation as I have seen it before but came away felling good about the company based on how it was verbally presented. I did attend a couple of other presentations and Trecora had easily twice as many people at their presentation, if that matters. If you have any other question, feel fee to ask and I'll try to answer them the best I can based on what I heard.
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