ElectriPlast: Integral Expands Board of Directors...again.
Herbert
Reedman,
Jr.
Now On
Board
By: Business Wire May 11, 2011 09:00 AM EDT
BELLINGHAM, Wash.--(BUSINESS WIRE)--Integral Technologies, Inc. (OTCBB:ITKG) (“Integral”), an emerging leader in hybrid-conductive plastics, is pleased to announce the appointment of Herbert C. Reedman, Jr. to its Board of Directors. Mr. Reedman brings extensive automotive experience to Integral as they continue to gain recognition in the automotive sector for their specialty material ElectriPlast™ a hybrid conductive plastic, which mimics the shielding and conductive properties of metal but is 40-60% lighter than aluminum.
“The Fifty Visionary Dealers Who Shaped the Modern Industry.”
A leading automotive retailer, Reedman’s business successes span nearly four decades. In his previous role as the chief of operations for Reedman World Auto Center, a position he held until his retirement in 2005, he was a visible and widely respected leader in the community and among his peers. Often sought out by industry executives for his knowledge, experience and inspiration, Mr. Reedman continues to leave his imprint on the automotive landscape.
“We are honored and thrilled to have a person of Herb’s caliber on our board," said William Robinson, CEO of Integral, "His vast experience and relationships within the automotive industry will prove to be invaluable to Integral as we continue to introduce our ElectriPlast™ technology. Herb will focus his attention on the awareness, marketing, branding and sales of ElectriPlast™.”
During his career in the automotive industry, Reedman participated on numerous corporate advisory boards including Jaguar Cars, Ford Motor Company, General Motors Corporation, GM Credit Card, General Motors New Product Development Committee, GM Customer Relationship Management Board, XM Satellite Radio and OnStar. He is an avid supporter of American car companies and has made numerous speaking appearances on their behalf.
Commenting on his appointment, Reedman stated “I am excited to join Integral and help further this exciting technology. There has never been a more critical time for the worldwide automotive industry as demanding economic forces are in play. The need for increased fuel efficiency as well as alternative fuel technologies has never been greater. I believe ElectriPlast™ will play a key role in the future of Hybrid and Electric vehicle innovation by reducing weight and helping to increase mileage. I will be working very closely with Integral to help further their successes throughout the transportation industry and beyond."
Reedman is co-founder and Managing Partner of Vantage4 LLC, a Fort Washington, PA based marketing and consulting firm specializing in the automotive sector. He has advised many clients including Coda Automotive; a California based all-electric vehicle manufacturer and LBC, Inc., a privately held maker of after-market occupant safety and stability devices. He was a co-founder and served on the boards of First Peoples Mortgage Corporation, Affiliated Abstract, Inc., Hallmark Realty, Inc. and as a director for CoreStates Capital Advisors, LLC., a wealth management and institutional advisory firm. In 2000 and again in 2003, Reedman was awarded The Jack Smith's Chairman Award from General Motors for his outstanding achievements.
About Reedman World Auto Center: Founded on the family's Pennsylvania farm in 1946, Reedman World Auto Center went on to become the single largest auto dealership in the world at one location. The dealership, which covered 150 acres, employed 1200 people and delivered over 1 million vehicles, is considered one of the great automotive retail accomplishments of our time. Automotive News named Reedman World Auto Center one of "The Fifty Visionary Dealers Who Shaped the Modern Industry." In 2004, Reedman Enterprises was purchased by Bruce Toll, of Toll Brothers Builders fame and operate today as Reedman-Toll Auto World.
Integral Technologies
Integral Technologies, Inc. (OTCBB:ITKG) (“Integral”), (www.electriplast.com) engages in the discovery, development, and commercialization of electrically conductive hybrid plastics used primarily as raw materials in the production of industrial, commercial and consumer products and services worldwide. Its core material, ElectriPlast™, is a non-corrosive, electrically conductive resin-based material whose properties allow it to be molded into any of the infinite shapes and sizes associated with plastics, rubbers and other polymers while reducing component weight by 40 to 60%. Integral is a leader in conductive hybrid plastics with a broad Intellectual Property portfolio referencing its ElectriPlast™ technology. Applications for ElectriPlast include: Shielding Wire, Power Electronics, Connectors, and Cables; Shielding , Conduction, Batteries, Semiconductors, Heated Elements, Sensors, Antennas, Medical Devices, Consumer Electronics and Acoustics, Fuses, Capacitors, Resistors, RFID, Busbars and Terminals.
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 http://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.
Contacts: Integral Technologies, Inc.
Doug Bathauer, Director of Corporate Communications, 812-455-5767
email: info@electriplast.com
http://www.electriplast.com/
posted by PK... | 5/13/2011 09:56:00 PM
13 Comments:
At this rate, we should have more board members than shareholders by year end.
But its sad to note than none of these recent BOD members mention anything like "represent the shareholders". Also, there is no mention of how much stock they own in this company. Wouldn't it be nice if board members had some substantial skin in the game?
What this looks like is another equity-for-services play. There is no cash left, ITKG sorely needs some credibility and some consulting services so these guys are compensated with a position on the board and some options.
Looks like endgame stuff to me.
I thought the 10Q was supposed to have revenue broken out or at the very least discussed in more detail. Am I missing something? This was mentioned several times by management and would be a big let down if they left that out.
I found this to be a bizarre appointment. This fellow seems very accomplished in automotive retail. That's all fine but he has no stated experience whatsoever working with tier 1 or 2 suppliers to bring a product to market. He seems to have sat on few advisory boards but his expertise, experience and contacts are all in selling and marketing vehicles.
Unless ITKG is going to set up a car dealership, what's this guy bring to the party?
Its desperate - not bizarre. ITKG is grasping for credibility so they appoint someone (anyone) connected to a market they're interested in to their BOD. Herbie here was a great car salesman but his rolodex isn't going to have too many automotive development or technology folks. But ITKG gets a little name recognition and they hope to show that they're better "connected" to the automotive scene.
Same with that character from ORBCOM with respect to electronics. Unfortunately, his track record showed a remarkable destruction of ORBCOM shareholder value during his tenure.
How they're going to pay these guys remains problematic according to the 10Q. ITKG is out of cash and running in the red. They have increased their rate of common stock issuance and now they are hinting at selling preferred shares. So not only will there be more dilution but the preferred shareholders will get paid first when the company folds. This situation, combined with the fact that there are more and more warrants and options hanging out there, should keep the stock price anchored even if there is good news.
Not a good situation.
I've been going about this all wrong. Instead of speculative investing from the sidelines, I need to just contact Doug and get on the BOD. It looks like that is where you don't have to do much to profit from this company.
You have cracked the code. Only a select few will profit from this venture - and that few does not include the loyal shareholders. The business plan is 1.) jawbone the product and generate some hope that something will happen "soon", 2.) "pay" the insiders, BOD and consultants with freshly minted shares who 3.) pocket cash selling those shares to naiive investors who can't fathom the junk "science" that they peddle.
Its a great scheme and its fascinating to watch how well it works. But I guess PT Barnum was right...
Anyone know where we stand with the following schedule?
• January-March: Purchase Order received from Tier One auto supplier.
• March-April: Jasper, capable of 50,000 pounds of EP per month, manufactures and ships EP pellets to the Tier One supplier.
• April - May: Tier One supplier manufactures and ships required parts to the European automaker.
• June-September: Automaker assembles and ships final product to worldwide points of sale.
• September - October: Auto dealers worldwide sell the 2012 motorcar.
Sure has been quiet...
There is no evidence that any of those milestones were met or will be met. In which case, we have more evidence of the ITKG business plan: fabricate a hopeful application scenario, bolster the stock price to pay the principals and never explain why any promise, indication or innuendo didn't come to pass.
Such failures all point to a fatal flaw: the product either doesn't work or it has insuffucient value in the market to be of interest.
Stay tuned for the next hopeful set of promises. We have more mouths to feed on that BOD now...
Go lightly, but drive a big truck.
That's the idea behind a new UPS delivery vehicle being tested in Tucson and four other cities as part of the shipping company's efforts to cut back on fuel expenses and shrink its carbon footprint.
The company's CV-23 Prototype vehicle looks more or less like other UPS trucks that can be seen rumbling around the city except that the body is made of a lightweight, composite material.
Basically, it's a plastic truck.
The composite body panels cut the truck's weight by about 1,000 pounds.
Plastic? composite? aren`t they the raw materials ITLG screws with in order to make Electriplast? And the stuff that really conducts the electricity.....that`s metal.
Composite body panels on a UPS truck don`t need to conduct electricity. What`s your point?
The "point" is the basic junk science a previous poster referred to.
UPS trucks will soon be plastic and Electiplast is a plastic THEREFORE UPS trucks will soon be made out of Electriplast!
OR
Metal is a conductor and Electriplast is a conductor THEREFORE all metal will be replaced by Electriplast!
Don't be troubled by details like mechanical or electrical properties and certainly don't concern yourself with cost, price or value-in-use. Just buy ITKG before it goes to the moon (soon).
Well, since the Company doesn't communicate what's "really" going on, I'm left to speculate. I'm choosing to speculate on conductive plastic trucks - why you ask, I have no clue, it just sounded cool. I'm starting to embrace management's thinking....
Looks like this may be the end.
The company's out of cash, there's no income on the horizon and there's a ton of selling pressure with thousands of warrants and options out there (along with the company needing to print more shares). As a result, we've seen the share price drop 30% in a month.
The company has been very, very quiet. Nothing on Mo's results, nothing on the 2012 automotive contract. Not even any buzz. Could it be that everyone has been let go?
And insider Dickie Blumberg is selling. What does he know that we don't? Could be that PK's "other shoe has dropped"....
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