Sigma Labs issues letter to shareholders
Sigma Labs announced the release of the following letter to shareholders from Chairman and Interim CEO John Rice: "Gearing up as we enter 2018, I assure you that we will diligently strive to win on our announced strategies and initiatives to grow the company with internally generated product sales and externally developed M&A activities. While there is no assurance that these initiatives will excel, we are certainly committed to them and believe them to be attainable. We have filed with the Securities and Exchange Commission a preliminary proxy statement relating to an upcoming special meeting of our shareholders, concurrent with sending this letter. The proxy statement, when finalized and distributed to our shareholders, will seek shareholder support to increase the authorized number of shares of Sigma common stock so that the company has the tools to grow should M&A opportunities be developed and so that prospective companies know that Sigma has the means to deliver on a transaction, were it negotiated. I earnestly request that you support this proposal. I am also pleased to share with you some of our observations about the transformative year that 2017 was in the 3D metal marketplace as well as in your company. Commencing with a successful public offering and uplift to NASDAQ in February 2017, the velocity of the change(s) we have been reporting to you during the year increased throughout the course of the year... In the company, Sigma's leadership refined business priorities, expanded and specialized the management team, and led Sigma's transformation from an R&D company culture into a technology commercialization company. We doubled down on our In-Process-Quality-Assurance product development to sustain the agility required to meet rapidly changing AM equipment needs in a rapidly growing market. We combined our Sales with Technology Development into an integrated customer service team. Sigma introduced Version 2.0 of PrintRite3D in February 2017 and then Version 3.0 at the Formnext Show in November 2017. Doubling down."