The R&D guys weren't there. I talked to the Accounting Mgr, Marianne. This was just a preliminary DD stop; introduce myself and hang out for a bit.
There's basically two ways you can handle a first contact - announced or unannounced.
Announced first contacts tend to be formal and rehearsed; the rep you talk to is well versed in what is in the 10Q and they are ready for the hard questions, plus the settling is prepped. You get a nice tour of the things they want you to see. I usually leave having learned a lot of info that reenforced what I found on the 10Q and they are a good time.
Unannounced first contacts give me info I wouldn't get otherwise. You get to see what it's like when the bed isn't made. Google Earth is your friend when you do this. If I look up the address for a public company and street view shows graffiti and bums sleeping on the sidewalk - probably not worth stopping by, or investing in. You have to make them feel relaxed and not pressured, or you might as well get everything online. Then just shut up and let them talk - and they do if they are motivated and excited about what's happening with their company, but it shouldn't feel like a sales pitch.
I stopped by on a Friday afternoon; did everyone take off early? Nope, a couple were still there - good. The door had a keypad entry, so she let me in and I just told her my name and that I was an investor; just stopping by to check the place out. She ran around looking for an investor kit - told her that's OK, I can get it online. I'm not wanting anything insider, just making sure it's not an empty warehouse.
There was a guy on the phone in one of the offices, the door was closed and I only got quick glances at him when he walked by the little door window talking on his headset phone.
She let me look down the hallway where the lab is, the lights were out. She said the R&D guys were waiting for more work to show up. She wouldn't let me walk through, (lol, I drove around back trying to get out of the complex - the lab has a window. It was pouring down rain, so I didn't stop or shoot any video, but it looks like they have some nice toys.)
We talked for about 15 minutes and I got the impression they are geared up just waiting for someone to throw them some work. The office looked worked in, her desk had paperwork, the dry erase boards were used regularly with order lists and memos - the kind of thing you see when groups work in an office.
Next time, like if any news comes out and I'm in the area - I'm set up to make a quick phone call to stop by for something more formal. Hope I'm loaded when these guys get a major contract.
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