From the Desk of the CEO
Dwayne Fosseen, CEO
August 31, 2011
I believe most Mirenco investors made the decision to invest in Mirenco
because they shared the same opinion as myself about the ever increasing energy
costs and environmental impacts that we see in our everyday lives. Mirenco’s
products provide a solution to identify and fix engine combustion problems in a
way that is profitable for customers. I have never lost confidence that Mirenco
products and service will provide the company and its shareholders with profits.
I expect most investors believe, as I, there are a large number of customers
that can benefit from Mirenco technology.
Whayne Supply realized from experience that they make significantly more money
from the parts and service work that resulted from a MDEP than from the MDEP
combustion evaluations. This concept is very similar to the way cellular phone
companies promote to customers today. Cellular phone companies often provide a
customer with a free cell phone knowing that they make the majority of their
revenue from the monthly phone service not from the sale of the phone.
One of Mirenco’s MDEP service providers had this to say about Whayne Supply’s latest
expansion of MDEP services.
“I really like your new MDEP charge into the market place. Focusing and
selling the product health advantages of MDEP as opposed to the fuel savings is
right on. Fuel savings is important and an excellent benefit but Condition
Monitoring is the current buzz word and the trend is to provide this kind
information to the customer for better fleet asset management. Because of
condition monitoring we recently created a position and hired an Equipment
Manager to help us with our contract machines. He’s just getting his feet on the
ground but this is a tool I’ll certainly be introducing him to. Stay focused on
the Condition Monitoring aspects of this tool and you’ll open up a wider
audience of investors and buyers of the services.”
As this program was launched towards the end of July, Mirenco has seen a
significant increase in MDEP reports from Whayne Supply as indicated in the
chart above.
I believe as MDEP introductory programs gain further momentum and provide
positive economic benefits for service providers and their customers, it is only
a matter of time before Mirenco reports a profitable month then quarter and
finally a profitable year. It is an exciting time in the company’s history as
Mirenco’s products and service gain momentum serving this market place.
Dwayne Fosseen, CEO
Mirenco Inc.