|Dear Fellow Shareholder-|
Charles Dickens' famous words 'It was the best of times, it was the worst of times' describe the push and the pull between polar opposites of love and hatred, a persisting paradox of epoch proportion. Regardless of your belief system, your political slant, or your 'glass-half-full or glass-half-empty' world-view, one cannot deny our world has been a bit upside down.
Similarly, in the face of uncertain external forces beyond our control, which often seem as though they persist way too long, one might ask- how is it that BioLargo continues to advance? and why we are thankful? and how can our expectations of the future remain optimistic? There are a number of key reasons that BioLargo is able to enjoy its 'best of times' thus far.
Technology- Our world-class technology solves some of the most challenging problems that threaten our water, food, agriculture, healthcare and energy. We believe our breakthrough work in treating contaminated water will make our technology a game changer for multiple global industries. Scientific proof of its claim is slated for peer-reviewed publication soon.
Purpose- We are charged to 'make life better' and believe our world-class technology, as it is put to work, will help us become a world-class company of great value. Doing good and making money is a powerful motivator.
Team- We have surrounded our company with leading experts from various industries to help us focus on solving specific problems of high value. Our team is time tested and committed to our success. They joined us because they know what we can accomplish as a team.
Focus- Our path ahead for our animal care and odor control products is well defined and marching ahead. While we have not yet been able to rely on Central Garden and Pet since our product introduction at SuperZoo 2012, we have continued to advance the products and develop complimentary selling channels. We continue to receive glowing support for our cat litter additive product and believe, with the team we are assembling for marketing and sales, our success is imminent.
Our work in the advanced wound care field is precise, not complicated, and will allow us to apply for 510k clearance with the FDA in the mid to late 2013. If we can stay on schedule, we could be cleared a few months later, to take product to market and begin generating revenues from this subsidiary.
Our work with the University of Alberta, industry stakeholders, and the Canadian Government, tasked to solve the contaminated water issues associated with the oil sands tailings ponds, has verified our major technical breakthroughs which also helps set the stage for us to serve other industry segments, such as hydraulic fracking and industrial water users that can benefit from our commercial offering. We are developing commercial strategies now.
Principles and Managing Risk- The diversity of applications for our technology continues to present meaningful and diverse business opportunities as we push through various barriers to entry. Our principle business model remains licensure, but we have been forced to do more work than initially anticipated in order to succeed. We face this increased burden because most of the companies we target for licensure have been forced to consolidate operations and lower their own risk profile.
In addition to just plain hard work, there are a list of principles that help define our business; our willingness and commitment to run a lean operation with a culture of integrity, invest cautiously, seek risk-sharing partnerships from industry, continue to do as much work as we are able in spite of limited resources, maintain a willingness for management to continue to invest in our company through stock purchases, preserve and protect our shareholder equity for all of our shareholders (remember that our existing debt is convertible to equity on fixed term and price and we have only one class of stock), remain patient as we refine and narrow our business focus. These attributes continue to enable us to survive where other technology companies often fail. Of course, we could not succeed without the continued investor support we have enjoyed. We believe our breakthroughs and focus will take us from 'survive' to 'thrive' as we push ahead. We are steadfast and sure.
We are thankful for you and excited about our future!
Please take time to tell your friends about our company and as always, call me anytime I can be of assistance.
President & CEO