BELIZE GOES TO CANADA AND MEETS OUR CEO MR. ROBERT SIMONEAU
Belize Share Tuesday, September 28, 2010 2:57:20 PM
Re: None Post # of 15313
This information I obtained from Wanderport Corporation, Mr. Robert Simoneau during our meeting.
Hello fellow WDRP investors.
I recently returned from a business trip to Montreal Quebec.
As a matter of fact I arrived on Thursday the 23rd of September and departed on Saturday the 25th. Though my main reason for going to Canada was business, I called Andrew and requested a meeting with himself as well as Mr. Robert Simoneau, if time permitted. To my surprise Andrew called me back a couple of days later and advised me that Mr. Robert Simoneau would be in touch with me to arrange a meeting. Andrew also informed me that he himself was out of town and would not be able to attend the meeting. The next day Mr Simoneau called me and after adjusting both schedules, we agreed to meet at 10:30 am Friday morning at my hotel. The itinerary was as follows.
Mr Simoneau arrives at the hotel and we leave and go to his office for an informal meeting. After we are done we leave and go have lunch. That was the initial plan and it did begin as we had planed. As it turned out after lunch we toured Montreal until later afternoon. Saturday morning Mr. Simoneau again arrived at my hotel and we continued discussions in regard to WDRP through breakfast up until Mr Simoneau brought me to the airport for my departing flight early in the afternoon.
I suppose I should start by describing my thoughts in regard to Mr. Robert Simoneau. After meeting Mr. Simoneau for approximately 10 to 12 hours for two days I found him to be a true
dedicated professional. He is articulate, concise, yet possess’s the ability to convey his thoughts in a manor that most can understand without being an expert if the area being discussed. I am not an engineer nor am I an expert in the electrical or microwave water heater field. However I now have a full understanding of the mechanics of the microwave water heater that I did not have, even though I have researched our product and the components within for months.
Mr. Simoneau has traveled extensively through out portions of the world for business purposes and during our discussions we engaged in light conversation of areas we have both visited, Asia , Europe, ect.
He is by definition an Entrepreneur, an innovator in that he introduces new technologies as well as marrying existing technologies, increasing efficiency, productivity which generates new products and or services. This was evident as he shared some of his accomplishments in different fields where he developed new products currently being used through the world. Of course I as well as other investors have researched this and are well aware of some of his inventions, but it was exciting to see first hand some of these inventions . Mr. Simoneau is currently working on other projects, however they were not discussed in detail and I can’t say I do not blame him for not revealing them, I wouldn’t have either if they were my idea.
Friday morning Mr. Simoneau and I left the hotel and arrived at his office complex. This area is located in what I would consider a business, light commercial area just outside of Montreal. His building, yes the building belongs to Mr. Simoneau, is an up scale two story. Security is tight in that the doors are automatically self locking, alarms and exterior cameras in place.
Much like such business, light commercial sites here in the United States. We entered and walked down the corridor to a conference room. The down stairs area is a standard business office setting. However the up stairs, which I did not visit is the location where several components were retrieved is considered the R/D portion of his building. Mr. Simoneau displayed several components and discussed each one in detail. However one component was not displayed, that component being the newly developed heat exchanger which a new patent has been applied for by Mr Simoneau. Mr. Simoneau did allow me to take a photograph of the components. There is the switch, circuit board, power converter, and the magnetron. We then moved to the question and answer period of the meeting. I will give the direct question asked and the direct response given by Mr. Simoneau. These questions came from several investors that have addressed these issues either to me directly or posted these questions.
1.) Who are the corporate directors, officers of the company?
Richard Martel President and CEO.
2.) Please explain why you took the company public?
I am the licensor. The company was already a publicly traded entity actively seeking a viable “ green “ product. Wanderport wanted to acquire the technology in order to develop a “green tech” product for an under serviced market. The MHU offered unique characteristics that would permit them to achieve this objective and at the same, monetize my technology. From my perspective, as a licensor, this opportunity is much greater than I can develop on a solo basis.
3.) Will dilution be needed to produce the units?
This is a financial question however to the best of my knowledge, the company will not dilute for continuing operations. The company has several opportunities in place for financing the engineering as well as the initial production costs. Some of which being our distributors as well as Federally Funded programs within the Canadian government.
4.) What is Wanderport’s plan for pink sheet status. Currently Wanderport is at the distressed tier
listed with limited information. Do you plan to upgrade anytime soon to the transparent tier with current information?
Transparency has always been a priority as evidenced by the volume of Pr’s issued and by the way IR inquiries have been handled in a timely manner. Every effort will be made to maintain present pink sheet status ( as limited information ), however our immediate efforts will be concentrated on bringing the product to market.
5.) What is the current status of any Wanderport shares you may own?
All Wanderport shares that I own are restricted until early 4th quarter, 2011, and are not available for open market selling.
6.)Wanderport released several press releases in regard to your distributors sales forecast and showed values based on their selling price of $450.00. What does that mean for WDRP’s revenue? Shouldn’t your revenues per share be based on WDRP sales dollars and not your distributors revenue? Isn’t price per share based on income ( revenue minus expenses ) for WDRP?
Defer to CEO Richard Martel for projected revenue and price per share forecasts, with the exception of the following.
The estimates in regard to units required by any one distributor as released in previous press releases were in fact complied by the individual distributors themselves and provided to Wanderport. We felt that the distributors knew their market territory and the needs of future required units based on previous as well as projected replacement sales.
In some cases, our distributors will retail the WDRP tankless water heater under their own Brand, such as Freedom representing UMC. This being the case, the costs of advertisement, marketing ect., is absorbed by the distributor themselves, reducing costs to Wanderport.
7.) Who will be assembling, manufacturing the Wanderport water heater. Dave Meyers stated in a press release months ago that UMC had connections and could help getting the product to market.
We are working very closely with our distributors and have spoken to and visited several companies in regard to assembly, production of our product, some of which were introduced by our distributors. We have disclosed a few key vendors to date, however it would be premature to discuss any company in particular until negotiations are complete and a contract has been executed.
8.) If our product is far superior to what is currently on the market, why sell the unit for roughly 1/3 the cost of the closest unit on the market.
Defer to CEO Richard Martel for pricing of the unit.
9.) The press releases have been very vague in regard to the status of the water heater. Have you bench tested a completed unit or just sub-assemblies? If yes, do the test results meet or exceed the preliminary specifications?
From the beginning of conception, there have been sub- assembly, prototype devices, and variations assembled and tested. They have been bench tested for operation and for the purpose of characterization. However while reaching the actual stage where we are now, there have been discoveries which led to improvements which increased efficiency while reducing costs, such as the new patent applied for component, heat exchanger, which will be integrated into the final unit. Our current position is that we are now ready for engineering for a single cavity unit, moving towards the production phase of our tankless water heater.
10.) Would you comment on the past delays and are we on schedule as first initially reported.
In my opinion, Wanderport is following the business plan, and fully intend moving into the production, distribution phase with the completion of the final engineering completed. There have as I am sure everyone is aware, been design improvements ( such as in the case of the heat exchanger ), necessitating small delays, however this is standard in research and development. We do not anticipate any meaningful delays in the foreseeable future and we are confident we will be able to conceive a workable time line based upon input received from the selected engineering firm.
One must consider that with any new product that is taken to market, research and development does not stop there. I constantly look for opportunities to improve a product or devise new applications for a product that I have developed . The tankless water heater is not any different than any other product on the market. As far as delays, they have been minimal but some prefer to hear the steak sizzle, I prefer to cook the steak to perfection.
Final Opinion
I am sure that I did not ask all of the questions all investors would have like to have been asked.
I am also sure that some of the answers may not have answered the entire question. I believe that Mr. Simoneau was honest, and gave direct answers to those questions he was asked. He did defer some portions or questions in their entirety to CEO Richard Martel. I suggest that these questions be directed to Andrew and that he receive the answers from Mr. Martel.
The trip in my opinion was well worth the extra day stay to meet Mr. Simoneau. I will forward the photograph taken at Mr. Simoneau’s office to the head moderator for his approval to submit
it for posting. I have taken careful notes and have not interjected one word in the responses from Mr. Simoneau . We are all investors and I hope this shines some light on our company and product.
Per Mr. Simoneau and Andrew, any investor is welcome to arrange a meeting if they choose to do so. Contact Andrew and set initiate a meeting through e-mail or by telephone. Of course as I did, a negotiated time will have to be taken into considered as Mr. Simoneau is apparently very busy and I feel fortunate that Mr. Simoneau gave so much of his time to answer our questions. I am sure I will remember more from general conversation but this is good for now.
WDRP the very best investment of this year for me. IMHO
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