RE:AGMI am sure the company will soon have something regarding the AGM on the LOM website, I can however post some highlights for you on the "meet and greet" Kelowna shareholder meeting.
It was quite a small turnout, around 20 people but those things are always hard to predict. Who knows how many shareholders live in Kelowna are working or on vacation or attending the other meetings etc etc.
I found the shareholder mood to be fairly positive which did surprise me after 20 years. The meeting was kept fairly informal which I think shareholders appreciated. Guy and Ralph welcomed and answered questions throughout their updates.
Highlights from Guy
* They have secured 7.2 million dollars in financing. This is from a fund and they have the potential to revisit in the future should the company/shareholders need to go that route.
* Total dilution will be at 13 million, which is peanuts in the grand scheme of things (my opinion)
* Guy made it quite clear that the raising of capital was signed, sealed and delivered. I am sure they officially announced it at the AGM (my guess).
* Guy also made it quite clear he knows how to run a business and will work hard for the shareholders.
Highlights from Ralph
* Syringe has been modified to bring down price point and modify performance.
* Ralph and Guy have narrowed down a company for the moulds. Moulds maybe completed by Christmas.
* We will eventually produce 100,000 sample syringes and hand assemble.
* Patents are well protected and filed until 2035.
* FDA approval will take approximately a year.
My take on the highlights is mixed but positive. We were not going anywhere without funding and this board achieved that...cudos. We now have a heartbeat but will wait another year so that is the mixed part.
Make no mistake, Guy is leading this thing going forward. They also commented on seeking out industry professionals to assist or help lead this current board in areas where we have shortfalls, lets hope that also happens.
There was no discussion or questions regarding the gas cell or the current litigation.
Had a beer and left.