SARNIA, Ontario--(BUSINESS WIRE)--Lamperd Less Lethal Inc. (OTCBB:LLLI)
("Lamperd") President and CEO Barry Lamperd today issued the following
shareholder update:
To All Lamperd Less Lethal Shareholders:
First of all, I would like to thank all of you who have demonstrated
your faith in Lamperd Less Lethal Inc. by buying our stock. Investing in
a company that is moving from research to commercialization takes
commitment and patience and I salute you for having the vision to
participate in the long-term success of the company, rather than looking
for short-term gains as so many investors today do. The defense market
is an exciting and rapidly evolving place to be these days and we are
working to ensure that we are properly positioned to take full advantage
of all the changes.
In recent weeks we have not had many announcements of large sales or new
distributors, but I want to assure you that this is not because we have
been idle – in fact, rather the reverse is
true. Our order book has been filling up with smaller orders as new
customers begin trials of our various products and we are confident that
we will start to see larger orders from these customers as their trials
prove to be successful.
We have also been working with several of our new distributors to assist
them in obtaining initial orders, and we are making good progress on
several fronts. Some of the potential orders we have been working on are
a significant size and, while it is too early to speculate on our
chances of success on any particular order, we believe that we are
getting back on track to meet next year’s
projected sales volumes.
While this year’s sales volume is well ahead
of last year, we are keenly aware that we are behind where we wanted to
be in terms of both sales and profitability. We work in one of the most
highly regulated industries in the world and the barriers to entering
many of the markets have been more significant than we anticipated.
Given that we manufacture goods to fight terrorism, one factor that we
did not anticipate is that with each act of global terrorism the level
of regulation and red tape has actually increased rather than decreased.
However, as we come closer to making initial sales in several markets,
we feel that the long-term payoff will also be substantial.
Finally, we recognize that our share price has dropped dramatically over
the past year and that is discouraging to our management as well as our
investors. I encourage you to keep in mind that the price of the stock
is not necessarily a reflection of the condition of the company; it is
an indication of the market’s impatience with
our slower than anticipated progress and this is exaggerated by our low
trading volumes. Right now small trades are making a disproportionately
large difference in our stock price.
We believe that the only way to correct this situation in the long term
is by performance, so management is focused on delivering higher sales
and profitability. As we achieve better results we will be able to
develop an investor relations campaign to publicize our success. If we
can attract the positive attention of more brokers and dealers, we will
increase our trading volumes and we should see our share price return to
historic levels and become more stable. However, the first step is to
deliver results, and that is our current focus.
Once again, thank you for believing in Lamperd Less Lethal Inc.
Yours Truly,
Barry Lamperd
Chief Executive Officer
About Lamperd
Lamperd Less Lethal is the developer and manufacturer of a wide range of
leading-edge civil defense equipment, including less lethal munitions
such as the WASP round and the Defender series of launchers, as well
acting as a supplier of training and accessories, for the police,
military, private security and corrections markets.
Forward-Looking Statements: This news release contains "forward-looking
statements," as that term is defined in Section 27A of the United States
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future. Such
factors include, among others, the inherent uncertainties associated
with the development of an early-stage company in the firearms and
munitions industry and its products and the entry into new markets for
our products. These forward-looking statements are made as of the date
of this news release, and Lamperd Less Lethal assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the forward-looking
statements. Although we believe that the beliefs, plans, expectations
and intentions contained in this press release are reasonable, there can
be no assurance that such beliefs, plans, expectations or intentions
will prove to be accurate. Investors should consult all of the
information set forth herein and should also refer to the risk factors
disclosure outlined in our periodic reports filed from time to time with
the Securities and Exchange Commission.
