Sigma Labs Issues Letter to Shareholders
SANTA FE, N.M., May 07, 2019 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (SGLB) (“Sigma Labs” or the “Company”), a provider of quality assurance software under the PrintRite3D® brand, today announced the release of the following letter to shareholders from Chairman and CEO John Rice:
I am writing to you in an effort to streamline and improve Sigma’s communication with our shareholders.
Following the lead of an expanding group of growth-oriented companies, Sigma Labs has decided to discontinue its historic practice of holding quarterly earnings calls. Our reasons for making this change are: (1) functioning under public company disclosure restraints in earnings calls, we are unable to disclose material information that is not already public, and thus you are unlikely to learn anything new, and we are prohibited from answering many shareholder questions to which we know the answers; (2) like other late stage start-up growth-oriented companies, Sigma Labs is striving to grow a high-value company and at this point in time single quarter horizons have little meaning for the effort we are driving towards for the growth of the company; and (3) shareholder participation in our earnings calls has averaged fewer than 25 shareholder participants out of more than 7,000 shareholders, representing less than an estimated 5% of our outstanding shares.
To provide clear and constant communication with you, we will continue to disclose information and news through press releases as events occur. I will also write shareholder letters, which we will disclose to the public, from time to time, as major events or strategy changes occur. On our website we have an investor section through which you can browse and download any or all of the in-depth SEC documents that we file. As many of you already know, I happily accept or return phone calls from Sigma shareholders, although I cannot discuss on those calls information about Sigma that we have not disclosed to the public.
Finally, in order to improve the relevance and timeliness of our annual meetings, the Company will move its Annual Shareholder meeting up to midsummer from recent years’ September/October scheduling.
I have focused this letter on your company’s communications to its shareholders. Please accept this letter also as invitation for shareholders to communicate with the company. You own it, feel free to speak up. We strive to get better for you and too, we’d be honored to get better because of you.
Chairman & CEO
About Sigma Labs
Sigma Labs, Inc. is a provider of quality assurance software under the PrintRite3D® brand and a developer of advanced, in-process, non-destructive quality assurance software for commercial firms worldwide seeking productive solutions for advanced manufacturing. For more information please visit us at www.sigmalabsinc.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company’s forward-looking statements, please see the Company’s Annual Report on Form 10-K (including but not limited to the discussion under “Risk Factors” therein) filed with the SEC on April 1, 2019 and which may be viewed at http://www.sec.gov.
Released May 7, 2019