BLAINE, Wash., Oct. 2, 2012 /PRNewswire/ -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced today the overwhelming success of the company's first shareholder conference call on Friday, September 28th. "We couldn't be more pleased with the overall success of our event and shareholder interaction on Friday's call," stated Peter Meier, President of Hollund. "We're thankful to our shareholders for participating in the call and allowing us to provide increased transparency and our future expectations for Hollund."
Led by Sheldon Romain, Vice President of Hollund Industrial Marine, approximately 30 minutes of information was provided to those in attendance followed by an informative and thorough Q&A session. "For those shareholders who were unable to attend the event, we wanted to provide an update as to some of the happenings here at Hollund," stated Sheldon Romain. "To start, we more formally introduced our audience to the TigerLynk technology in which we acquired an exclusive license to manage, market and operate."
TigerLynk is a large submersible hydraulic machine, essentially a large articulated arm that is remotely controlled by an operator which can be used in a wide variety of underwater operations including mining, salvage, ocean clean up, infrastructure repair and environmental remediation. The machine is capable of harvesting at least one tree submersed underwater in approximately 5 minutes. This would equate to roughly 100 trees over an eight-hour shift. "As a project managing company overseeing concessions, we'd expect to realize between $1,500 and $3,000 per log," continued Romain. "If at an average of $2,000 per log when we're in full operation, using the metrics of an estimated 100 trees per eight-hour shift, we estimate that Hollund could realize as much as $200,000 in revenue in a single eight-hour shift, and that's just using one machine, without a dedicated sales and distribution relationship."
Next, Romain explained how they intend to raise capital, in-line with the company's non-dilutionary business plan. "When it comes to raising money, we are very sensitive to the type of offerings used to raise the funds and the cost of that financing, both on the balance sheet and intrinsically to our shareholders," continued Romain. "We have set out to raise a significant amount of capital, specifically for our project financings, via investment banks and high net worth individuals and other private entities in a non-traditional and more creative funding transaction than usually contemplated by companies of our market position. In other words, we will not look to sell a bunch of stock to raise millions of dollars in project financing."
The Company has begun to seek capital in the range of $5 million to $8 million. The transaction types envisioned for this capital raise would be along the lines of a traditional bank financing, partnerships or other joint ventures, which would essentially be non-dilutive as, again, the Company does not anticipate selling any major stock positions to raise project capital.
The third item on the agenda was the company's anti-dilution and stock retirement program. Romain Continued, "I'm very happy to say that we have successfully reduced our outstanding share count by approximately 30% of what was originally out there just a few months ago." In addition to the 30% reduction, Romain estimated that an additional one billion shares were set to be retired as of the day of the call. This would bring the total retirement to over 3.5 billion shares. The logistics of that reduction is still in process. Management expects that the directive given to retire the shares will be effective within 48 hours and will likely bring the issued and outstanding share count far below the original contemplated reduction amount estimated. Also, the details of how the shares were retired will be discussed in the upcoming quarterly shareholder update – where Hollund executives suggest that shareholders will be pleasantly surprised to understand how and why the shares retired will never come back to the market at any time in the future; and the faith those shareholders submitting to the retirement have in the future revenues of the company.
Among the final items discussed, and one of the more prominent for the company, is the newly evolving partnership with North Cal Wood Products. With revenues having an historical high topping as much as $40 Million, the 30+ year old reclaimed wood and distribution company is considered by many as the premiere reclaimed wood and custom lumber milling and distribution outfits along the Pacific Rim. For Hollund, the new relationship with North Cal could result in substantial amounts of yearly revenue. North Cal has already identified a number of tremendous sales and distribution prospects and opportunities to which the revenue potential is immeasurable. It is also quite likely these same opportunities are greatly lending to North Cal's ever so quickly evolving business relationship with Hollund. Executives at Hollund indicate that an opportunity of major size and scope may be found between the two companies; suggesting that the future prospects of the two companies will be detailed within the upcoming shareholder's update.
Romain concluded, "Simply put, our first event could not have gone better. It brings us great pride to be able to recap our past undertakings from which we've grown tremendously, within a live and interactive forum. We most certainly look forward to providing additional information in our first upcoming quarterly update and urge all shareholders to continue sending us your comments. Without all of you, we would not be the growing enterprise we are today."
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (Pink Sheets: HIMR) seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model – including resource and needs assessment, permitting, environmental and project planning, logging, milling, product branding and sales adds value for our shareholders, our partners and reservoir based communities.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.
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SOURCE Hollund Industrial Marine, Inc.