RGI roto-gro international limited

Ann: AGM Presentation, page-9

  1. 12,343 Posts.
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    @Director12 - Government in two countries? Canada? Yes as no-one at HC is willing to make up their mind and decide whether the regulation about changing the address of a licence can or cannot be approved. The other country? Australia? Is the government the ones responsible for certifying a food as organic? Even if so, the delay is minimal. The delays for the Freshero deal have been due to a variety of factors, issues with their facility (which is in Central Coast, NSW, the original announcement was going to be more specific but Freshero was reluctant for too much info being given), wanting to get the fully automated 7 foot unit working properly, etc.

    @HairyRichard - CanniFarms is by no means a Gibio. CanniFarms is on the cusp of being ready to start growing (in two rooms on flat bed units) without the need for more cash. How much cash RGI need depends on how quickly CanniFarms wants to build out the other grow rooms but their are limitations to how fast they can build out grow rooms that are unrelated to cash flow.

    Production capacity is dependent on the availability of components. RGI outsources the bulk of the process for the production of the units (Adam got into a lot of technicals in answering that question which was way too much information for me to take in so sorry for not relaying that). At present their production capacity is 50 units a month although if needed there is the ability to ramp production up, I am not clear on how quickly that would be (again there was a lot of information being given). Having previously produced the units completely inhouse RGI knows costs, limitations, etc.

    Components are ordered/produced on an as needed basis and different components have different batch sizes meaning that RGI's inventory on hand can fluctuate between 20 to 60 units at any given time. With the suppliers larger orders take priority so big orders can result in components being available more quickly.

    Asking questions on your behalf? Pfft, these were all questions I wanted answered! And poor Adam, he will be hoping I don't return for the AGMs in future years.

    Present at the meeting were Adam (CEO), Terry and Jamie (who were up for election and the only Australian based board members), Melanie (CFO) and the three Michaels dialed in from Toronto, oh and the auditor Tutu who dialed in from Perth. Beforehand I was worried there wouldn't be a quorum for the meeting, as far as I know myself and a young couple were the only shareholders present with at least one proxy representative.

    When it came to questions I was the only one asking during the meeting, and I showed no restraint questioning heaps of things. The formal part of the meeting was interesting, I wasn't sure about the vibe, it is hard to explain but even though that part is dry it still seemed to lack a certain level of enthusiasm. That changed once Adam started the CEO presentation, every slide he was adding information, particularly of a technical nature, even without my questions.
 
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