Big Brother
1 month ago
The 4 insiders own about 97% of the o/s and it has assets that prevent it from being classified as a shell company, so IMO this would be an incredible merger vehicle.
Its a bit of a risk I guess as the company officers are elderly and its always a concern how much they really want to devote, both time and $$$ into finding a merger when your at an advanced age, they have already been looking for awhile.
One interesting thing I saw, in Harry Steck's bio...he was apparently behind 'GT Interactive Software's' IPO, he didn't mention in the bio it was one of the biggest IPO's of that year, only Netscape had a bigger one. GT Interactive Software went to NASDAQ and eventually became Atari, Inc.
Harry Steck. From 1965 to 1982, Harry Steck work with JCPenney, holding senior buying and marketing positions in its drug store division, Thrift Drug Company. From 1982 to 1985, Harry held SVP of Merchandising positions with Fays Drug and Gray Drug. In 1985, Harry was recruited to Sara Lee as VP of Merchandising in its Hanes Hosiery division, based in Winston-Salem, NC. For seven years, he oversaw marketing and distribution operations. In 1992, the Rank Corporation, a public company based in London, UK, recruited him as President / CEO of its U.S. based Rank Retail America division. Harry held this position through 1996, at which time he led a board-approved divestiture of Rank Retail America. In 1996, Harry joined GT Interactive Software, based in New York City, as SVP to lead its OTC public offering. Upon a successful offering, he stayed with the company for four additional years.
From 2000 to 2006, Harry elected to step back from his business career as he and his wife decided to focus on raising their three children.
In 2006, Harry was recruited by Itochu, a Tokyo based public company for the position of President / CEO of its Master Halco division, a specialty steel producer based in Los Angeles. In 2009, Harry resigned from Master Halco.
After a second attempt at retirement, Harry was selected by a Lebanese investor group in 2013 to oversee a Los Angeles based technology startup company. In this role, Harry collaborated with Joseph Morgan, its CTO, to create and launch Trakdot™ the first ever successful tracking device to be used for airline checked in luggage. In 2018, Harry and Joseph established Traccom Inc. to create the successor product to Trakdot™. Harry currently serves as President and CEO of Traccom. Harry also oversees the financial operations of ForsterVGV Inc., a Florida based specialty luggage manufacturer.
Harry is a graduate of the University of Pittsburgh where he holds an MBA and completed post graduate programs at Harvard and IMEDE (University of Lausanne, Switzerland). He currently resides in Walnut Creek, California with his wife of 55 years, Nancy. He enjoys reading, riding the stationary bicycle and taking Viking river cruises.
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