Yeah!!!!!!CEOCFO: How do you decide where to focus?
Mr. Dawalibi: “We look at market studies to figure out where the high growth opportunities are. We look at our capabilities and our skills, because we have a set of expertise and skills that we have been building over the last thirteen years. We look at how we apply that set of capabilities to the market that has potential to us. We have been in the business of using RFID for the last 13 years to identify and deal with motor vehicles. We apply it in those new types of applications.”
CEOCFO: Are you primarily in North America?
Mr. Dawalibi: “We are primarily in North America but we do business globally.”
CEOCFO: What is the financial picture at Sirit today?
Mr. Dawalibi: “We do not have any debt. We have a substantial amount of cash on our books. With the growth that we are seeing, we forecast that we will be cash neutral by the end of this year. We feel very comfortable in terms of our financial situation. We did raise a fairly substantial amount of capital last year.”
CEOCFO: You mentioned you were best-of-breed in many areas; what do you know at Sirit that perhaps others do not? What makes your product superior?
Mr. Dawalibi: “There are a lot of new companies who have started getting involved in RFID because they looked at the opportunity and realized there was a very substantial marketplace here. In reality, we have been doing RFID for the last thirteen years. RFID is more complicated than traditional information technology applications because you have to deal with the environment. There are complications in terms of how you actually make it work because of the nature of radio waves, such as if you have metal, it gets reflected, if you have water it gets absorbed. How to make it work is not a simple thing, it takes a lot of experience, hard lessons learned. We have been in that business almost from the beginning. We have outstanding talent and skills. We believe we know better than our competitors how to take the base technology, how to apply it, and how to put it in a way that it actually performs in a real production environment. This is a huge differentiator in the marketplace.”
CEOCFO: What do you see two or three years down the line for Sirit?
Mr. Dawalibi: “I am excited about the opportunities that we have. We have some strong business in our traditional AVI or Automatic Vehicle ID application business. There are a number of very exciting new applications that are coming in the marketplace. We have been talking about supply chain for a long time, it is taking a long time to start happening in the marketplace, but there are a lot of good signs that it is happening and it will be huge in terms of volume and in terms of opportunity. What we are seeing is a large number of new application areas. People are very creative, they see the technology capabilities now, and they are applying it in a number of areas and I talked about some of those; cashless payments, asset management, product authentication. In pharmaceuticals, where there is a huge amount of counterfeiting going on, being able to uniquely identify every bottle of drugs from the time it is manufactured through the supply chain all the way to the pharmacy becomes critical. Applying that technology in that environment can be extremely beneficial. When I look two or three years down the road, I see a Sirit as a very successful company and the technology being used successfully in a large number of applications.”