Message to Fellow Shareholders from BioLargo President & CEO - Dennis P. Calvert
June 9, 2011
Dear Fellow Shareholders,
How’s business? That is THE question that I hear most often. It seems as though everyone is busy with the demands of life and battling to recover practically and psychologically from the global economic crisis. Most of our shareholders cannot take the time to pour over our company blog or read our exhaustive public filings we maintain. Rest assured, everyone, especially me, realizes all too well that at the root of THE question is the nagging desire to see meaningful revenues and a healthy stock price.
“So, Dennis How’s business?”
When we measure THE question in terms of meaningful progress, optimism and confidence, the answer is, without any hesitancy or reservation on my part:
BioLargo has never been better.
Then, are we satisfied? The answer is: No.
Please remember we publish robust disclosures about our limited financial resources and early stage revenues. We even detail the risk factors, which include a list of caveats about how difficult the task of introducing what we often refer to as “game changing” technology into highly competitive markets. (See our Annual Report) So, please measure our optimism in light of those realities. We battle the huge barriers to entry every day.
Aside from our team’s inherent commitment, drive and determination, we have good reason to be optimistic and confident. A brief summary of our recent meaningful developments might help explain:
1. We recently signed our first major license with the number one seller and distributor of pet related products in the USA, Central Garden and Pet (Symbol: CENT). The agreement calls for Central to maintain a minimum level of purchases to maintain their exclusive rights as described in the executed agreement and the associated revenues. If Central maintains the minimum levels of purchases called for in the agreement, it will generate material revenues for BioLargo.
3. We have recently added two internationally recognized industry experts to our team: (former CTO at Halliburton & Sr. VP, and currently the Executive Director of the Research Triangle Energy Consortium – Vikram Rao, PhD) and (Harry DeLonge, former senior technology officer at Pepsi and life-time award winners in the water industry and the technologies society for the Food and Beverage industry). They joined us to help guide us in how best to navigate what we believe are massive commercial opportunities for our technology in their respective industries.
4. We were recently selected as a founding member of a new research chair at the University of Alberta sponsored by the Canadian government and joined by six of the top Canadian oil companies and the regional water district to solve the oil sands contaminated water problem in tailings ponds. We will be providing more details soon. Our CTO, Ken Code will be working hand in hand with the members of the research chair for at least the next five years. As a result of our role in this research chair, additional similar opportunities are being presented to us, and we are expanding the awareness and recognition of our technology.
5. Industry and regulatory developments in the Natural Gas industry and specifically hydraulic fracturing are in such a stir that it is creating an increasingly obvious opportunity to play an important role.
Is there more? Sure, we have a substantial list of more opportunities for both technical recognition and revenue generation at various stages of development. Stand by for more information as they develop. Remember, as Thomas Edison is quoted, "The three great essentials to achieve anything worthwhile are: hard work, stick-to-itiveness and common sense."
How is our financial condition? See the most recent quarterly report here. Remember our convertible debt converts to equity on a fixed calendar schedule.
In summary, we have good reason to be confident and optimistic. We also are not satisfied and are keenly focused on developing meaningful results that will drive both material revenues and awareness of our company and our stock.
It is an exciting time at BioLargo!
We appreciate you.
Dennis P. Calvert
President & CEO
* Note- Remember to read our annual report and other public filings for insights about our financial condition. Also don't forget to pay attention to the risk factors associated with the execution of our business plan and forward looking statements like those incorporated in this communication. This message is not a solicitation to purchase or sell securities.