- SGLB
executive chairman updates shareholders on how company is adjusting to
COVID-19 pandemic
- Ruport
reports on increased innovation, efficiency in its team dynamics
- Sigma
Labs “adapt[s] seamlessly” to new conditions, sees future opportunity
“bigger than… imagined”
In a recent letter to shareholders, Sigma Labs Inc. (NASDAQ: SGLB) Executive Chairman Mark
K. Ruport discussed the expected impact of COVID-19 on the company, outlined
recent company accomplishments and talked about upcoming milestones. Ruport stated
that what SGLB is doing for the 3D-metal-printing industry is “more important
and relevant than ever before” and that the current situation will have minimal
long-term implications to the company’s business plan (http://ibn.fm/syDOQ). Sigma Labs
is a leading developer of quality-assurance software for the commercial
3D-metal-printing industry that uniquely allows manufacturing anomalies to be
corrected in real time.
“One of the things that has amazed me over the past few
months is the level of interaction between our Sigma team and our customers,”
he observed. “We seem to be carrying out evaluations and installations as if
there wasn’t a crisis. In many ways, we are becoming more efficient and more
innovative in responding to customer issues.
“For example, in the past, we were likely to just react and
put an engineer on a plane and spend a few days at a customer’s site to get an
hour or two on the printer to address an issue,” Ruport continued. “Today, we are
experimenting with users wearing cameras, supplemented with augmented reality,
to be our engineer’s eyes and instructing our customer on how to be our hands
as we address a critical situation together. The result is a more educated and
competent user, and a much more efficient Sigma team.”
Ruport noted that Sigma Labs is doing everything possible to
ensure the safety of each of the people who work for the company and that
SGLB’s work and culture before the pandemic “has allowed us to adapt seamlessly
to work remotely.” One important change, he noted, was the prioritization of
weekly company-wide conference calls to ensure that company officials maintain
regular, frequent contact with its employees.
In the letter, Ruport talked about significant SGLB achievements
over the past year, which include the following:
- Successful
completion of several financings in order to continue to fund company
development efforts and market initiatives.
- Launch
and successful execution of Sigma Lab’s Rapid Test and Evaluation (RTE)
program with five different companies.
- Granting
of several patents to protect the company’s IP; this brings the total of
SGLB patent portfolio to 11 issued and 24 pending patents.
- Continued
sales of SGLB’s PrintRite3D(TM) to universities and R&D organizations
around the world
- Announcement
of PrintRite3D Production Series, which features a real-time
production dashboard and several significant add-on features.
- Third-party
validation of SGLB technology from influential organizations.
Looking forward, Ruport also reported on upcoming milestones
the company is expecting, including the following:
- Continued
acquisition of PrintRite3D by influential universities and R&D
organizations worldwide.
- Implementation
of OEM contracts with 3D metal-printing hardware manufacturers to
integrate SGLB technology.
- Evolving
relationships with additive manufacturing (AM) software companies to
integrate SGLB products to streamline and optimize the AM digital thread
from simulation through closed-loop control.
- Multi-unit
sales of PrintRite3D Production Series by end users.
- Increasing
quarter-over-quarter revenue driven by multiple, independent streams,
primarily from OEMS, end users, resellers and others.
“On one hand, the world is deep in crisis, and we as a
company need to take measures to ensure we are prepared to operate through this
global shutdown,” Ruport told shareholders. “On the other hand, I had to
balance these COVID-19 issues with my belief that when we get through this, our
opportunity will be bigger than I had ever imagined… We are seeing the
convergence of the next generation of manufacturing, the need for manufacturers
to rethink their supply chain strategies, and the commercialization of our technology
coming together and creating the perfect opportunity for Sigma.”
Sigma is a software company that specializes in the
development and commercialization of real-time, computer-aided-inspection (CAI)
solutions known as PrintRite3D for 3D-advanced manufacturing technologies.
SGLB’s advanced, computer-aided software product revolutionizes commercial
additive manufacturing, enabling nondestructive quality assurance
mid-production, uniquely allowing errors to be corrected in real time.
For more information about Sigma Labs, please visit www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
About MissionIR
MissionIR is
primarily focused on strategic communications. We have executed countless
communications programs to address the needs of companies ranging from
start-ups to established industry leaders, gaining valuable experience and the
expertise necessary to determine the most effective strategy for any given
situation.
For more information, visit www.MissionIR.com
Please see full terms of use and disclaimers on the Mission
Investor Relations website applicable to all content provided by MIR, wherever
published or re-published: http://www.missionir.com/disclaimer.html
