RE: MP elects new boardI don't think there "will be" an internal struggle for control. The "struggle", and I don't think it was much of a struggle is past tense and occurred at the annual meeting. The result of the struggle is a new BOD. Brett Ironside seems like a very effective go-getter (see below) and I gather that the new board has very substanial personal holdings in MP (which of course is good). I also think that the price weakness over the last year has not been caused by any internal struggel but rather by the slow business progress being made by MP. And that is precisely why we have a new Board. A critical part of today's news is that "[t]he current board of directors directly represents a broad base of stakeholders in the company. In particular, Greg Wiegand, the founder of the company, inventor of the technology and largest shareholder, voted his shares in support of this board of directors." Here is some information about Mr. Ironside's business success, his current company. Looks to me like he has a nose for opportunity.
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THE SURPLUS TECHNOLOGY SPECIALISTS
Teltech Assets.Com Ltd. is a North American leader in surplus, excess, and distress technology inventory. This rapidly expanding company wholesales, retails, and remarkets surplus new and used computers, entertainment equipment, accessories, and peripheral equipment.
Teltech has expanded from a small retail storefront in 1994 to a multi-million dollar corporation. In 2001, Profit magazine recognized Teltech as one of Canada's top "100 Fastest Growing Companies".
Today, Teltech and its subsidiaries, Computer Surplus, Business Wurx, and Wired Merchant.Com are the asset management partners for many leading technology brands. Manufacturers, Fortune 500 companies and major consumer retail chains choose Teltech due to its size, experience and expertise in moving high volumes of surplus technology quickly and professionally.
Teltech clients range in size and all have special requirements. Small businesses and individuals seek quality equipment, dependable service and excellent prices. Educational institutions and multinational companies are attracted to Teltech's ability to provide quality equipment at attractive prices and also dispose of existing outdated assets.
The world of surplus technology transaction is a rapidly growing industry. Leading the North American market and meeting the demands of both supplier and consumer is Teltech Assets.Com.
The technology world is maturing. While manufacturers continue to develop new equipment and offer a range of new features, many consumers, companies, organizations and institutions are attracted to proven technologies that can be secured at attractive prices. That is Teltech Assets.Com, "the surplus technology specialists".
Teltech and it's subsidiary companies provide:
Wholesale:
This division is a global wholesaler of quality new, refurbished, and end-of-line computer products. With its highly qualified procurement team, access to the worldwide broker market and large volume inventory, Teltech's professional account managers can fulfill the requirements of any size of deal.
Manufacturing:
This division specializes in manufacturing and re-manufacturing quality computer equipment to customer and supplier specifications. Teltech's large new facilities, its specialized assembly lines and testing facility, its quality assurance, certified data erasure and destruction programs, and it's staff of experienced certified technicians, are the key reasons for the manufacturing division success.
Retail:
Computer Surplus, Teltech's retail subsidiaries have retail locations in major consumer markets of Calgary and Toronto. Computer Surplus offers a diverse and extensive line of computer and electronic products and accessories. It also provides the benefits of a large corporate retailer without large corporate retail prices. Fully stocked on-site service department, staffed by trained and experienced technicians, hassle-free financing, rentals and leasing programs, and trade-ins and disposal, are attractive services that are growing Computer Surplus sales volume and business reputation.
Consulting:
Business Wurx is the service and consulting division of Teltech Assets.Com. This company provides a vital service for small- to medium-sized businesses who demand quality service, exceptional value and a no nonsense business arrangement.
Special Projects:
Teltech offers a range of special services that are attractive to organizations large and small. Some of these include:
Auctions
Liquidations
Insolvency Management
Consulting and Third-Party Evaluations
Teltech in the news!
Profit Magazine Award [Tuesday December 18th/2001]
Quote from Profit Magazine - Teltech Assets.Com Ltd. sells excess computer inventory to both retail and wholesale dealers across Canada. Based in Calgary, the company was co-founded by Brett Ironside and Wayne Sutherland in 1994. Teltech, with five-year revenue growth of 1,318% is ranked at Number 68 on the PROFIT 100 this year. Sales increased to $17.8 Million in 2000 form $1.2 million in 1995. Teltech's next challenge is to take the company public.
Profit Magazine - Top 100 Company [Friday November 2nd/2001]
Cars can be sold when their owners upgrade to newer models, so why not computers? That insight led Brett Ironside and Wayne Sutherland to start Teltech Assets.Com in Calgary in 1994. "Wayne and I wanted to identify a niche in the computer industry," says Ironside, TelTech's president and CEO. "We saw that this would be an opportunity that would last for 20 years." But Teltech now does much more than buy, refurbish and re-sell outdated computers. It also buys surplus equipment from computer manufacturers who prefer not to use their normal distribution channels to sell older products. And it will move in and buy up inventory from companies, including computer retailers, that go bankrupt.
Teltech upgrades the computers to current standards' for example, installing CD drives, modems or sound cards on later models' before selling them to businesses or wholesalers, or at retail through its Computer Surplus outlets. "We're one of the few companies in Canada that take large quantities of computers, remanufacture and redistribute them," says Ironside.
Teltech dominates the used-computer market in Western Canada, says Ironside, but doesn't have a strong presence in the East. That's his next target. He's also planning to build a complete e-commerce operation so that by the time TelTech receives a computer to be upgraded, its customers know about it.
And if others see recycling outdated equipment as the unglamorous side of high-tech, well, that's just fine. "Other people didn't pick up on the opportunity," says Ironside. "They didn't figure there were dollars to be made."