MAD
17/07/2014 10:02
ADDRESS
REL: 1002 HRS Energy Mad Limited
ADDRESS: MAD: Chairman's Address - 2014 Energy Mad Annual Meeting
Media Release 17 July 2014
Chairman's Address - 2014 Energy Mad Annual Meeting
This is Energy Mad's third Annual Meeting and from the offset I acknowledge
Energy Mad has failed to deliver and be profitable as a listed company.
The reasons for this year are set out in the annual report.
Since the IPO three years ago, Energy Mad has been focussed on Compact
Fluorescent Lamps (CFLs) in Australia, the United States and New Zealand.
At the time LEDs were on the horizon as a relatively new and expensive
technology for general residential and commercial lighting.
This has changed and Energy Mad has recognised the market opportunities for
them.
As a result, we are now moving from CFLs to LEDs and Energy Mad has done
extensive work to quickly transition to this technology.
We are focussed on a new strategy combined with cost reductions to bring the
company to profitability. Progress will be reported in our interim results,
along with guidance on the full year result.
I acknowledge and thank you as shareholders for your continuing support.
I now hand over to the Managing Director and Co-Founder Dr Chris Mardon to
provide detail on our strategy.
End CA:00252804 For:MAD Type:ADDRESS Time:2014-07-17 10:02:06
