Monday, March 05, 2007
Conforce International (CFRI) collected entries
This is a development stage company (formed on May 18, 2004) in the container shipping business. Top management has a lot of experience in the repair and selling of containers. Their main focus is a new flooring called EKO-FLOR for containers based on composite materials rather than the usual wood planks.
First post, Jan 5, 2007 (this has a lot of comments)
New Vice President, Feb 6, 2007
Oceanex trial order, Mar 5, 2007
Looking at financials, Mar 15, 2007
2007 and 2008 projections, Mar 22,2007
Conference call questions, Mar 31, 2007
Conference call, April 28, 2007
Conforce "interview", May 22, 2007
Another field trial, June 26, 2007
Conforce not in IICL list, Aug 6, 2007
ATC Evaluation, Jan 9, 2008
Interview, Jan 11, 2008
Field trial update, May 21, 2008
Conforce says nothing, July 31, 2008
Q1 results (ending June 30, 2008), Aug 27, 2008
I think it is one worth checking out.
at any rate the call had good up-front questions...looked like Kulas had prepped/rehearsed
he almost would not shut up when talking about the market for container flooring and the technical conditions for the one particular tropical hardwood. he had less to say about the company's market position, negotiations with customers, sales etc......yada..is the expansion into solving trailer problems amongst other problems a reflection of how reticent container owners are about buying new flooring? you must be all over this like uranium
thanks for doing a nice job
I'm happy with the call, but they didn't say much at all about why Oceanex was selected rather than someone else. There are a lot of possible reasons.
I own CFRI and even though it is down 50% from where you bought it I would think they are on the verge of something. What is your current outlook? Do you see this going over $1 in the 6-12Month range?
Another worry I have is that BASF is starting to look at composites for flooring. They're big and good at materials.
One thing that really stood out to me was in the answer about the field trials at around 16:00. The first thing I was thinking was that the standards are probably totally different from the things the customers are concerned about. Very often you find that customer requirements involve things you'd never even imagine were important.
So as Marino Kulas was going on about how EKO-FLOR had been tested for heavier loads etc., I was starting to worry that they were too hung up on these standards. But then at least he ended with this:
"The Kulas family has over 35 years of experience related to containers and has repaired over 300,000 units. With this experience we believe that EKO-FLOR will demonstrate many advantages relative to plywood during our customers' tests."
It's never about technology. It's about solving the customer's problems.
They're trying lots of different customers and two different markets. That's probably the right thing to do because it can be hard to know where or how it will catch on.
The delays don't bother me.
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It looks like your other investments are doing well. I know it took them a long time but, CFRI has been uplisted to the OTCBB and OTCQB
Just wanted to get your opinion.
Thanks so much.
I like reading your comments keep up the good work. I hope all is well and that you are looking forward to the Holiday season and enjoy a Happy, Healthy, and of Course Wealthy New Year!!!
Just wondering if you have been following CFRI recently and what is your current opinion?
Thanks for the comment. Yes, things are going well and certainly the stocks I own have done extremely well over the past 2 years. Yes, I still follow CFRI and I still own it, although I own less of it now. My opinion is that they seem to be pulling through in the truck trailer business but the intermodal container business seems to be stalled. The new board member announcement would suggest that something is happening, but that's just a guess.
It is nice to see you are more active on your blog. I appreciate your views and answers regarding the US Gov't and investing in general. Wondering what your opinion is on CFRI considering their progress in the past few months. Thanks so much.
Yes, I'm doing a lot more searching now in preparation for new investments. I've been slowly selling CFRI, but I still own a fair amount. In hindsight it was just another mousetrap maker: big story, little revenue. They'll probably continue to survive and probably do well, but it seems to be in the trucking trailer business rather than intermodal containers.