vti, page-31

I have just come from vti's AGM.
They went through the achievments this year and their business plan for now and the coming future. They say they have no hope of handling the developement of their products all over the world on their own and so are adopting the strategy of forming liasons with suitable companies who already have contacts with potential customers.(ie someone else does the marketting) They are already well down this path and have many licence contracts in place already and others nearing fruition.(including Japan) In discussion after the meeting I heard that they have a significant liason announcement nearly ready to make public.
Asked why new user contracts were taking so long to clinch they explained the slowness of getting the necessary party structures to a decision. (The mining industry is one of the slowest) They understand shareholder frustration but say for the breakthroughs to eventually emerge and take off will take time but they are sure it is going to happen.
Criticised at the lack of public feedback given to the ASX they say they they will only make statements as and when they are reliable and factual. They do not want to go in for "hype".
They also told how they were approached by Prawn farmers to find a way to reduce the mortality of farmed prawns. They came up with a solution in short order and trials are now presently under way. (They mentioned they had already been told they were successful.) There is a very big market for this in SE Asia.
I think most at the meeting felt the company was in the early stages of what will hopefully be a big company maker. Patience required.
Westmoon