" It is not easy and I can understand that some of you are frustrated by the slow pace at which we're making progress. We're sure that our management team is dedicated to change and with our passion we will make our imprint onto this industry. As I have been saying all along, our goal is to capture $300 million to $500 million in annual revenue and we will not stop until we reach it."
"The Sustainables resins are probably the most exciting "..."we need to convince the operators to green their operation and offer consumers products with a lower carbon footprint."..."The potential market for Sustainables is infinite."
" It is just racking into tradition and finding champion who are interested in bringing more eco-friendly product to the market. I am certain that in United States we will find this champion and then soon we will not need to cross the ocean to sell our U.S. made resins."
"We expect to achieve similar type of growth for the second half of 2013 as compared to the first half. I would expect the fourth quarter to be bigger than the third as Europeans continue to practically close down their economy during the summer time."
"The driving force in the accelerated growth of our revenue will be the finalization of sanction in Italy against merchants who do not make the switch from traditional plastic bag to alternative bioplastics that we are hopeful that it will happen at early as fall of this year."
"Revenue growth is driven by sales in Europe specifically in Italy. We estimate that the potential addressable market for the blown film resin in Italy is approximately $50 million per year for our company. Again growth here will largely be attributed to the provision of the pending legislation to impose severe financial penalties on merchants who do not replace conventional signal-use plastic shopping bag with bioplastic alternatives."
"Severe sanctions will be imposed upon merchants that do not comply. Also this legislation is in the hands of the European community. We expect a realistic timeframe to go into full effect to occur in the fall of 2013. Upon enforcement we believe that there will be a substantial increase in demand for our bioplastic resins. For the past 18 months, we have worked closely with over 70 Italian companies that have completed multiple successful tests with values grades of Cereplast Compostables blown film resin."
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In early July, we received multiple purchase orders for Cereplast Compostables blown film resins totaling approximately $200,000 in sale, resins that will be used for the making bag, grocery. This resin will be used for the manufacturing of single-use plastic bag for use at about 45 supermarkets located in the Veneto and Trentino regions in Italy. It is a significant breakthrough to now have a working relationship directly with these supermarkets.
Our resin has been well received by Italian consumers and we strongly believe that these orders represent only a fraction of the overall market opportunity. Despite the short-term delays post to finalizing the Italian junction, we are seeing strong demand for our resin particularly from large retailers that are proceeding as the legislation is being fully enforced and continue to transition to bioplastic alternatives for single-use bag."
" I know that a lot of shareholders do not like the current illusion we are going through. As a shareholder myself, let me remind you that my equity has been drastically reduced. And in addition as CEO, I have voluntarily reduced my yearly compensation to $30,000 in salary. I have expanded very significant loans to the company, so we clearly have a vested interest in making this a success story.-food crops feedstock that will permit growth without trailing pressure on the price of food, when the market demand increases and starts to require very large quantities of feedstock."
"Our company is not cash flow positive, which means that we needed to accept cash to stand our operation until we will reach cash flow breakeven."
"We believe that based on the current trend we should be able to reach cash flow breakeven for operation as soon as we will reach our run rate of about $1 million a month, and depending on the Italian legislation this could occur by the end of this year."
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