ElectriPlast: Integral Responds...
Sales
Process
Detailed...
By © 2008 BusinessWire
February 7, 2008 09:30 AM ET
Integral Responds to Questions on Sales Cycle of ElectriPlast™
Integral Technologies, Inc. ITKG ("Integral"), wishes to provide further information relating to the Client Specific Application Development process of its signature technology ElectriPlast™.
In November of this past year, Integral and Jasper issued a joint news release explaining and describing the work that was accomplished in 2007 and the focus for 2008 towards the goal of commercialization of ElectriPlast™.
We are pleased to report that 2008 has begun with an abundance of new customers contacting us and current customers who are now deciding what ElectriPlast™ materials they would like for their research and development tests in order to make business decisions for their specific applications.
One of the most frequently asked questions we get is how does a potential customer get ElectriPlast™ samples and how does this Company decide to use ElectriPlast™ for their products?
When a Company reads about ElectriPlast™ in one of several industry magazines which focus on material science and or manufacturing they can contact us in several ways. The most common is through our web-site that has a contact page or by our Jasper sales team who target specific industries. At this time we always contact the individual personally and set up a conference call to see what their needs are and how ElectriPlast™ will suit their product.
A non-disclosure agreement (NDA) that has been prepared by our attorneys Kirkpatrick & Lockhart Preston Gates and Ellis is then forwarded to the customer for their approval. There are instances particularly from large multi-national companies that will only use their NDA which is fine but often takes time as the attorneys on both sides then must agree on the interpretive language.
The NDA in place, a conference call is organized and often leads to broader in-house introduction where more development teams are informed of our technology, enhancing the development of ElectriPlast™ uses. Discussions are based on their respective product(s), the ElectriPlast™ technology, the uses, the benefits, our manufacturing capabilities, and how we can best to suit the customers needs and wants.
At this time we will share the ElectriPlast™ product specifications in order to help the customer decide on a specific polymer blend. The sales team will now provide samples of ElectriPlast™ plaques and pellets and in specific cases we will also send various blocks ranging in size from solid hot dog shapes to solid 1 lb. frames. The plaques are molded in an industry standard size in a square shape 4 by 4 inches with a thickness of 4 ml. The reason we send the plaques is to give the customer a quick and easy way to test the electrical characteristics of the blend they have chosen. Pellets are also sent, so the customer can mold or extrude their product within their facility. If the customer does not have the equipment to do the molding or extruding, Jasper Rubber can facilitate this for them in order to enhance the prototype.
The time frame up until this point may well have taken several weeks but the customer now has the ability to begin their own research and development based on the ElectriPlast™ technology. At this point we are not aware of the customer's timeline for engineering procedures but we are readily available to assist them with all their wants on engineering, processing techniques and manufacturing.
The procedures outlined above together with research and development, testing, engineering, design, and tooling make sale cycles time consuming especially when a new technology as diverse as ElectriPlast™ is being introduced to an industry that has been devoid of a product like this forever. This hard work, diligence and a world leading technology brings us closer to capitalizing on our Intellectual Property and Patent Portfolio.
Integral Technologies
Integral Technologies, Inc. (http://www.itkg.net/) is the developer of an innovative electrically conductive resin-based material called "ElectriPlast™," a highly conductive recipe that can be molded into virtually any shape or dimension associated with the range of plastics, rubbers and other polymers. Our IP consists of ElectriPlast™ and thousands of different applications pertinent to a wide variety of industries. To date, we have had 30 US patents issued, or allowed and pending issuance, and 87 patents pending on ElectriPlast™ applications. Various examples of industries where ElectriPlast™ can be used are antennas, shielding, lighting, circuitry, switch actuators, resistors, and medical devices, to name just a few. The company is currently introducing these new products and ElectriPlast™ technology on a global scale.
This press release contains "forward-looking statements'' within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, and (3) other factors detailed in the company's public filings with the SEC. By making these forward-looking statements, the Company can give no assurances that the transaction described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this release.
For more detailed information on the company and the technologies described above please visit our web site at www.itkg.net or contact Shareholder Relations at 888-666-8833 or The Investor Relations Group, at 212-825-3210.
To review the company's filings with the SEC, please go to http://www.sec.gov/.
Contact Information: Integral Technologies, Inc. Michael Pound, 888-666-8833
posted by PK... | 2/07/2008 07:15:00 PM
5 Comments:
Unfortunately the latest news just seems to be preparing investors for a LONG sales process. I believe an earlier blogger put it correctly when they said, "time is money" and investors seem to be running out of both.
Still think we have good things to come but not very soon like IR at ITKG kept telling all the Loyal Longs. So if you can camp out for a long time it may be worth the wait. Reading this makes it look like we can now sit back and enjoy many months of no news till some company gets done with R&D, its a long road till we see any deals that bring any great revenue.
Posted on one of the ITKG message boards but I think summarizes investor frustration with all the NDAs Integral has been touting for years but that never seem to amount to anything.
"So here is the #1 issue that I see as I sit here today that I simply cannot reconcile w/ Integral. According to Integral's own press releases, since some time (let's be kind here) in 05, or certainly in 06 and 07 they have had various companies under NDA's testing Electriplast applications. At a minimum, since the beginning of 2006 and beyond, companies like Heatron, Esprit, Jasper, Knowles and others have been utilizing this material. The major flaw, as I see it, w/ the 11/20/07 release about the long arduous sales cycle is that it implies that only at that time forward could that cycle proceed. In truth, w/ or w/o a supplier on board Integral was able to provide Electriplast in some quantity for numerous companies to play with and test for several years now (who cares if to do so they had to “rent time in a lab” -- bottom line is they got Electriplast in peoples’ hands to test). This process did not start at the end of 07 when Jasper was up to capacity to produce 50,000 pounds per month.
I cannot reconcile this point. All of those companies had at least two years (and if we are to believe Integral, some much longer) to test Electriplast to see if it was worth adopting in some way. THEN, once Jasper came on board to manufacture and once we hit the end of 07 when they became, according to them, fully up to manufacturing capacity, there should have been a flood of orders right out of the gate to all of the companies who knew the material but were only waiting for a manufacturer so that Integral could fill their orders. Integral has had years to work w/ companies to help them utilize the material. If 3 years + has not been enough time what makes anyone think that a 4th year in 08 will result in a single substantive sales order? If people seem ungrateful when ITKG provides press release updates (when they seemingly clamor for them when they are not coming out) it is because what they really want and are expecting w/ each release is that it will involve a large sales order. Really, how many times can we be told how revolutionary and great a product is when nobody is buying it? That 11/20 release, at least to me, implies that the prior several years somehow in a vacuum don’t exist.
People talked about the 1Q of this year. Now halfway through, does anyone really honestly believe that a major sale (heck, any sale) will be announced? Doubt it."
PK - Do you know why nothing ever came of the knowles deal?
PK -
You have been very quiet lately. Are you still a believer in ITKG? I am still long this company, but have been really sorry that I bought into this whole thing.
The fact that Intregral refuses to share any technical data at all with the public, and the latest amaturish PR's have shaken my confidence. If you are true to form, you likely will say that your confidence is base on the association with Jasper. But, really, how much do we actually know about the investment Jasper has made into EP? How do we really know if EP works and described?
The latest PR's have me thinking that I have bought into a big scam. My confidence is shot. Can you give any glimmer of hope?
KLN
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