Item9.01 Financial Statements and Exhibits.
Presidents letter to the Shareholders of Schmitt Industries, Inc.
Forward Looking Statements
Certain statements in the letter provided in the Exhibit, including but not limited to remarks by David W. Case, are forward-looking statements. These statements are based upon current expectations, estimates and projections about the Companys business that are based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements du e to numerous factors, including, but not limited to, general economic conditions and global financial concerns, the volatility of the Companys primary markets, efforts to accelerate growth in sales of the Xact
tank monitoring systems and the ability to satisfy expected demand, the ability to develop new products to satisfy changes in consumer demands, the intensity of competition, the effect on production time and overall costs of products if any of our primary suppliers are lost or if a primary supplier increases the prices of raw materials or components, the ability to ramp up manufacturing to satisfy increasing demand, maintenance of a significant investment in inventories in anticipation of future sales, existing cash levels which may not be sufficient to fund future growth, the ability to obtain financing if needed to fund operations or growth through commercial loans or capital fund raising at terms acceptable to the Company and its shareholders, fluctuations in quarterly and annual operating results, attracting and retaining key management and qualified technical and sales personnel, changes in effective tax rates, the ability to reduce operating costs if sales decline, increased costs due to changes in securities laws and regulations, protection of intellectual property rights, and risks from international sales and currency fluctuations.
For further information regarding risks and uncertainties associated with the Companys business, please refer to the Companys SEC filings, including, but not limited to, its Forms
The forward-looking statements in the letter provided in the Exhibit speak only as of the date on which they were made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release, or for changes to this document made by wire services or internet service providers.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
/s/ Ann M Ferguson
Name:Ann M Ferguson
Title:Chief Financial Officer and Treasurer
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Other recent filings from the company include the following: