Building up teams is what he said they are doing;
• AEM continues to grow its work force, making strategic employee hires based on unique role-specific skillsets and promote key staff within the company to support its ongoing growth strategy.
And I agree with you that there must be something in the air up in Kelowna!
After previous head, Toby Chandler (or whoever?) made those connections with the previous head of AEM and told shareholders that Canada would be the focus of a new CVM ‘sticker empire’, they moved one of SMN’s most important developers over there to work with AEM.
He was still living there the last time I looked him up although he left AEM in 2020 (maybe someone who was a holder when this happened can remember his name as it has now slipped my mind )
Those Friday free donut parties must be quite something?
And Boeing?
Kicking up about wanting surety CVM Aft Pressure Bulkhead stickers can pass final tests for which no testing has ever been developed?
It sounds to me like the female b
ureaucrat in that TV series
(which name I have also forgotten) who stares at the ‘customer’ who is making an easy enquiry and says - repeatedly and unapologetically ;
“The computer says no
.. “again, at no stage during any of the testing – including in the additional testing required by Boeing– have the sensors failed to perform as expected and required.
The remaining issue ahead of certification involves testing of the sensors' performance at the lowest equivalent load as seen on the 737 APB and the ability for the CVM™ sensors to detect cracks that have formed under that low stress level.
The AEM team, led by Trevor Lynch-Staunton, Chief Technical Officer at AEM, has developed and presented a number of proposals to the Boeing Certification Engineers and Management with the intent of agreeing a course of action to satisfy this final requirement with Boeing as a matter of urgency.
However, until this is resolved, the Boeing project timeline released by the Company in early December will clearly have to be further updated; We will communicate this update with shareholders as soon as it the information is available.
Delta Air Lines continues the agreed installation of the CVMTM APB kits on its 737 fleet ahead of certification release with installation partner TESTIA participating in the next set of Delta installations at the end of the March quarter.
But it’s good that Ross is so positive about the future - jokes aside, Kelowna and this business sound like a life path with which he is very satisfied. although it was clearly sailing close to the wind that it needed that loan from him?
During the quarter the Company received a loan of US$100,000 from Executive Chairman Ross Love to assist with short term cashflow within the Group. The loan, which is unsecured is at an interest rate of 5% fixed with no fixed term for repayment.
And why is he so invested?
“I would also like to take the opportunity to draw shareholders' attention to the continued growth, and in this quarter the first positive EBITDA result, for the Avionics and Contract Manufacturing segments which the Board believes can equal the value potential of the CVMTM segment in the coming years and are now on a sound and sustainable financial footing.
Profit of $820,000 over the last three months for a public company that’s been listed in Australia for almost 20 years, with an operations base making radio equipment in Canada is kind of hilarious when I consider it, but at least it IS profit, and I like that last sentence from Ross above about .
ie finally - after almost two decades - a company leader of SMN is able to use the words “sound” and “sustainable”.
cheers
(20min delay)
