Update from Michael Liik E-mail ReplyHi David
Thanks for the note and your comments. Regarding Otokar, the award was for the Cobra 1, the predecessor vehicle.
Having said that, we are optomistic that Otokar will soon get an award for the the new vehicle. Regarding investor updates, this is a common problem with early revenue companies - we generally take the position that we only press release material events. Having said that, we are considering the posting of an investor update letter on our web-site on a quarterly basis to deal with the issue.
Best,
Michael
> Mike
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> Congratulations on your announcement yesterday of the Alusion™ contract to clad the exterior façade of the newly constructed Congress Center in Mallorca Spain, a win a long time in the making. I guess yesterday’s reaction by shareholders tells the story, bailing on good news because it gave them a chance to exist their positions with the slight increase in trading volume. It’s great that Cymat can win the odd Alusion sale but for the survival of this company it needs to establish a recurring revenue stream such as in the automotive or military vehicle segments.
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> In December Otokar, a Cymat partner as announced in June 2010, indicated that they had won a significant contract for their Cobra military vehicle, a vehicle noted to be using Cymat’s blast mitigation technology. Has Cymat been awarded any business from Otokar’s win?
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> Unfortunately the lack of disclosure and information sharing with shareholders makes it not only hard to keep existing shareholders but even harder to attract new ones. I personally know of many long time investors who have sold their shares over the past few months in total frustration.
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> One must remember that what Cymat’s management knows is great, or maybe not, but if is not disclosed publicly to the shareholders know one else knows what’s going on leading to pure speculation. No one is asking for the company to disclose trade secrets but there must be a way to give the shareholders some context about progress being made in each segment such as through a quarterly newsletter update on the website as many other small companies do.