Well we didn't receive a copy of the entire report, only the Safari portion. Send the number on, PM if you wish I would call. My copy came directly from the company. I guess they were trying to keep us focused.<g>
We did know it was an International only release, but was not aware who generated it. The name of the underwriter is one piece of information we do not have.
I have hoped for some time that Mort would do SOMETHING in the way of IR and promotion. Their new website is defiantly a step in the right direction.
To date I have been unable to verify the legal proceedings from an unbiased source. This didn't make me run out and buy more. As said in an earlier post I think the release was overstated, even when only discussing recycled cameras. From what I've been told the other guys do it too, they just don't tell you! Taken with a grain of salt this would still be an excellent thing for Safari. We would be happy with a reasonable percentage of their target price.
To date Mort has continued to use his available cash to build the company. His focus has been on advertising in specialty magazines like Shotgun News, mailings to S&W stocking dealers and faxing to other gun dealers. With this they market the recoil pads, targets and Hunter/Outdoorsman Cameras. They also exhibit at specialty trade shows where all of the products are available for purchase and with someone ready and waiting to take down that large order. Most of their deals at shows are samples taken for testing before someone places an order.
The cameras are marketed in a variety of ways. They use distributors, retail and direct sales via the Internet. Some of the distributors have targeted promotions, which have proven very successful. I was thinking of a Stockholders Meeting/Party Special. There would be two versions. One with ticker tapes, confetti and champagne bottles and the other with pitchforks, axes and a hangman's noose. What do you think?
For the reasons above I can't say if it was a paid promotion or not. Even if it is I dare you to find another one in their 5-year history! He continues to market the company and not the stock. As we are investors in this stock we tend to agree with his focus, but our portfolio sure would look better if the price moved (up that is)!
We were invested well before this release. They don't have an investor kit available so it's been long chats with Mort Berger and others involved with the company. We have seen literature on the recoil pads, felt the product, used the cameras and seen the other products. Regular calls are made to check on progress.
The company is real, functional, on the verge of profitability, has a reasonably small float and is tying up loose ends to bring the SEC Filings to date. This is why we are invested, not that release.
I had lots of notes on the company but much of it is now on the website. safariassociates.com
He doesn't even have an investors page there yet!
Have a nice weekend,
Jeff
p.s. How's the WAMM count going? |
