Hi James,
Rick forward your note to me to respond to your questions.
1. Unfortunately, we can't do tours of the new plant. Individual tours would be disruptive to operations. In any case, it isn't all that an exciting thing to see at this stage. Lots of beds of compost with worms doing their thing. It will be more interesting in the future as we install more automation equipment.
2. We really haven't initiated retail sales from the plant. That is coming, however, likely in about three weeks or so. Part of the automation plan is to install a bagging line for retail product. Please check back with me in a few weeks and I will let you know where we are at on this.
3. We never forecast when we might be issuing news releases on sales or distribution agreements. We will make timely disclosure of these as the events occur. We are working with or negotiating agreements with a number of parties.
4. This financing is intended as a bridge to when cash flow increases further and we also may arrange other financing for specific requirements (such as the next plant). The bridge nature of this financing is why there is a provision enabling the company to repay it after six months. Financing is not related to running at break-even; that's more a function of sales, improving operating efficiencies (i.e., through automation), and increasing margins.
Thanks for your congratulatory comments and your interest as a shareholder. Contact me any time you have other questions or comments.
Regards,
Richard W.
Investor Relations for Forterra Environmental
meeting I am having with Ron on Tuesday. We will be establishing the various pricing by sector and bagged product will be available to the public in three weeks when we have the bagging line operational as part of the automation plan