ElectriPlast: Integral Expands Board of Directors...
James
Eagan of
ORBCOMM
On Board
By: Business Wire
Jan. 6, 2010, 9:00 a.m. EDT
News Release
BELLINGHAM, Wash.--(BUSINESS WIRE)--Integral Technologies, Inc. (OTCBB:ITKG) (“Integral”), an emerging leader in hybrid conductive plastics used to replace the metallic component currently used in EMI shielding and conductive devices, is pleased to announce the appointment of James Eagan as a member of its board of directors. In his new role, he will focus his efforts on commercializing Integral’s patented ElectriPlast™ material and transforming Integral into a company with global operations.
Before joining Integral, Eagan spent nearly 15 years as an executive in the satellite telecommunication industry and has extensive international management and business development experience. He was previously based in Seoul, Korea and Sydney, Australia. Eagan was responsible for establishing ORBCOMM Global, L.P.’s (“Global”) terrestrial infrastructure throughout Asia Pacific and setting up their regional franchise partnerships in Japan, Korea, Malaysia, Thailand and Australia. In 2000, the economic downturn that affected much of the telecom industry forced Global into Chapter 11. Seeing an opportunity, James co-founded ORBCOMM LLC (“ORBCOMM”) and acquired all the assets from Global, including its 36 satellites, and continued to operate the ORBCOMM business, saving over 100 jobs in the Northern Virginia area. As ORBCOMM’s Chief Marketing Officer and Director, he was key in its restructuring and revitalization. In 2006, ORBCOMM completed an IPO valuing the company at over $400 million (NASDAQ: “ORBC”).
Previously, Eagan was with Lockheed Martin where he was responsible for international programs supporting the sale of naval weapons systems. Prior to that, he was a naval officer working in the Navy’s Aegis shipbuilding program.
Eagan attended the University of California, Los Angeles on a Navy ROTC scholarship and received his bachelor’s degree in economics, and an MBA from George Washington University.
Integral’s Chairman and CEO, William Robinson, said, “This is the start of an exciting year for us, and we are thrilled to welcome James to Integral. His experience in commercializing new technologies and partnering with multinationals and iconic brands, such as Panasonic, NEC, Hitachi, Caterpillar, Komatsu and Volvo Trucks, will help to further our plans in making ElectriPlast™ a globally accepted material, for use in every market segment that needs this technology, including automotive, consumer electronics and wireless product manufacturers.”
Integral Technologies
Integral Technologies, Inc. (www.electriplast.com) 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. Integral Technologies is an emerging leader in the development and application of next-generation conductive plastic materials. The company currently has 52 issued US patents relating to the composition, manufacture and application of their ElectriPlast™ technology, and they continue to develop and protect new intellectual property. The company was recently cited by ipCapital Group (www.ipcg.com) as the indisputable IP leader in resin-based materials. Their IP consists of ElectriPlast™ and multitudes of different applications pertinent to a wide variety of industries. No assurances can be given that all patent applications will be approved; however, to the extent that patents are not granted, they will continue to attempt to commercialize these technologies without the protection of patents. Various examples of industries where ElectriPlast™ can be used are automotive, defense, antennas, shielding, lighting, circuitry, switch actuators, resistors, and medical devices. The company is currently introducing these new products and ElectriPlast™ technology on a global scale.
Safe Harbor Statement
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. These statements include, without limitation, predictions and guidance relating to the company’s future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. These forward-looking statements are based on management’s current expectations but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties 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, including, without limitation, those described in the Company’s annual report on Form 10-K for the year ended June 30, 2010 as filed with the Securities and Exchange Commission and available at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
SOURCE: Integral Technologies, Inc.
Scott McArthur, 888-666-8833
www.itkg.net
posted by PK... | 1/08/2011 05:50:00 AM
14 Comments:
Another revenue stream leading AWAY from the company. Financed not by product sales, but by shareholder equity created by the PROMISE of future product sales. Nothing has changed in ten years.
I'm a long-time share holder and have to agree. When I think of Orbcomm I think of failure -- theirs and ours. Although that was not Integral's motivation in naming him (obviously), this move does absolutely nothing to instill confidence in the investor. More importantly, I fail to see how this move helps Integral achieve their stated goal of "commercializing Integral’s patented ElectriPlast™ material and transforming Integral into a company with global operations."
How many consultants does it take to bring commercial success to EP? Apparently 'one more' is never enough.
I agree. This is not a positive development for the company. Eagan's credentials are telling: he is cited as "key" in the $400M ORBCOM IPO in 2006. Now ORBCOM has a market cap of $123M. Either he was a high level director involved in this loss of $250M+ of shareholder value or he was merely a mid-level manager.
Further, the announcement is confusing. Is he to be a Board member representing the interests of the shareholders? Or is he working on the commercialization of the product? If the latter, then he should have been brought on as contractor or employee of Robinson.
I hope this is not just another PR ploy to trade off another name in the industry.
Looks like I'll be selling some soon. I'd like to believe these guys are going to go somewhere, but I can't help agree with some of the bashers for once. All we see are half-truths (at best) and recycled stuff (I Googled to see if this guy was indeed around in 2001... and he was).
So, I will be selling off a portion of my holdings to get some of my money back, just in case.
Who is the board of directors? Aren't stockholders suppost to vote on directors? How much is he getting paid? What is his function, beyond the title?
OK...more questions. Let's hope for some answers....soon.
I am sure you will receive answers from the company to these questions "soon" (as defined by Integral = never). It is their hallmark.
The BOD at Integral is essentially who you are paying when you invest. They operate the company and their very generous compensation packages are disclosed in SEC statements.
No, you do not get to elect any Integral BOD members and, consequently, they are not compelled to represent your interests. They have a great deal of latitude to do as they please with your investment funds; which includes increasing their compensation.
As to Eagan's function - who knows? We only have his track record at Orbcomm where he helped to eradicate almost $300M in shareholder value.
If you're a shareholder, get ready for a trip down.
As a shareholder I agree... and during the trip down I will be buying more shares. Thank you to the nay sayers as you probably have succeeded in convincing others to sell for quite some time which equals cheap shares for the LL's. I understand the frustration, but for many who don't understand this type of investment it just doesn't happen over night. Yes, it can take a long time - welcome to reality. Remember the days when investing in a publicly traded company was a long-term investment (i.e. more than two years)? And I'm talking about a blue chip stock, not a start-up / development company which you should expect a much longer holding period. I know, ITKG has had more than ten years. My response is simply this, is Apple's technology (one example of many) the same as it was in the beginning? Think about it.
I also recently bought a few more shares to lower my break even price. Why not? It's kind of all or nothing at this point. I'm more of an optimist anyway.
I would, however, appreciate a little more substance in the 'Company Corner' post on the Electriplast website. Afterall, we are the ones paying their bills and salaries. For Doug or the 'Board of Directors' not to at least address the shareholder frustration is a bit insulting. I understand the need to project a positive image, but even if they are scrambling behind the scenes, at least a nod to the shareholder frustration would be appropriate. Maybe a "We understand, but.." or "We are working diligently and can expect..." Embelish it for all i care, just don't give me the same Electriplast application ideas over and over. We know, it's got great potential. How about a little respect or acknowledgement to all those shareholders funding your idea.
Pretty lame response.
Apple didn't take 10 years to come out with a much more sophisticated technology. They also had sales right off the bat.
And is there any evidence that ITKG's technology is "evolving"? The only thing that seems to be evolving is their flailing around in the marketplace looking for a buyer - any buyer.
Good luck buying shares - they sure do need the money.
Looks like the support is starting to erode. There has been strong support for the stock through the selling over the last few months. The share price has not suffered that much. That support seems to be taking a break, or at the least looking to pick up shares cheaper which is not hard these daays.
Still believe that the company can find a way forward but worry about finances if the stock price drops significantly.
I am a glass 1/2 full kind of person but the water is evaporating. I am now glass 1/3 full instead of 2/3 empty.
With support eroding, this might be the best opportunity to unload that we will get. Every week that goes by without sales is another nail in the coffin. Things are not "looking up". Just the opposite: the situation is deteriorating. Their cash has dried up, no other funding appears to be on the horizon and they have exhausted just about every possible application for the product. No takers.
If the stock heads down from here, it will be the end.
It actually looks like the support is very strong. Anyone will look at letting the price drop to pick up shares at a lower price, but it appears to me that there are people competing for those shares at the bid.
There was a sell for over 40K shares that did not drop the bid yesterday. That speaks to accumulation.
A bunch of sells today and then both the bid and ask go up on a few buys. There has been selling pressure for a while and not much of a dip. Feels to me like there are people at least expecting good things to happen.
People in the know are not going to chase up the ask. They will sit on the bid and collect shares. Especially when news is slow in coming.
Still see this as very high risk but the trading over the last few months actually makes me feel a little more secure...
Oh boy!!!
Big announcement today: Integral "completed a 1200 lb order"! It is strange that the words "purchased", "sold" or "paid" were not part of that announcement.
I love how these guys now make giving away free samples sound like a bona fide order.
But it should make nice fodder for the monthly pump, eh PK?
Anyone else notice at the end of the day someone comes in and buys at the market price? Seems to have occurred for the last month.
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