agm - tzl is too cheap!!

After seeing my small fortune become ash tray change over the years I had promised myself to leave this one in the bottom drawer for my kids and not to visit the TZL thread on hotcopper. However, TZL is now simply to cheap so I have been accumulating recently. Had the day off today and decided to go to the AGM. Here are my notes:

- TZL's accountant resigned because they merged with another firm not because of anything to worry about.
- No plans to raise capital. Resolutions was just in case they need to do so quickly. All Bouris companies have these resolutions.
- PDT going ok now. Ukraine office is going to be used more to increase profitability.

- TZL is very focused on IXP and PAD
- TZL has relied on big companies in the past. These companies have let TZL down. eg: Textron. It needs to control its own destiny by creating its own product
- Too early to license in 2009 when new Board came in. Need to get runs on the board to justify a higher value licensing deal.
- Points were made in presentation made to shareholders in 2009
- New generation of SMA locking mechanism used in Swing handle
- IXP and PAD had no sales in 2010
- Since first deployment of PAD at Safeway in January 2011 there are now > 50 deployments
- Microsoft has agreed to order lockers regularly from TZ for their Seattle campus. No longer buying one bank at a time. Structured deal. Cisco too?
- $8M over 3 to 5 years
- Aust Post lost due to PB. Learned alot. New Businss segment for TZ. Would not have won Sing Post without experience from Aust
- In discussions with 5 other Postal Organizations
- Sing Post hotly contested. Ting met with CEO. TZ was "dark horse"
- Won Sing Post because of commitment of team and tech
- Sing Post network will be most advance in the world.
- Coles happy with TZ refrigerated lockers and heavy marketing of them. Replace padlock system. 300 - 400 sites if successful
- Australian PAD network will be carrier agnostic. will be a more dense network than Aust Post network - lots more of everywhere them due to advantages of SMA. Competitors use Solinoid and DC motor.
- Aust Post just announce that their lockers will be limited to their parcels only and Startrack express
- New Space saver PAD system for convenience stores. 7/11?
- IXP now in stage where they will increase volume via integrator channel, OEM and distributor channels
- Ting excited by TZ ready swing handle. It will compete with cheap handles that are made in china that is currently on almost all cabinets. It will give end users ability to future proof their cabinet without an investment now.
- Given choice of CPI TZ ready cabinet vs normal CPI Cabinet users will choose TZ ready coz it will cost the same
- > 2000000 cabinet sold globally each year. TZ only has 3000 with their gear. Huge market.
- Bouris and Ting responsible for originating and closing all sales in Australia and Asia Eg: Next DC, Mactel. They are the only sales people in Australia. Bouris said they paid for their own air fares to Singapore
- Belden Cabinets
- Spoken to woolworths
- Bouris excited about the Australian PAD network.

For those that were at the AGM please add if I missed something.