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Integral Technologies' (ITKG) Doug Bathauer on Q4 2015 Results - Earnings Call Transcript


Greetings, and welcome to the Integral Technologies’ Corporate Update and Year-End Financials for the period ending June 30. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.

I will now turn the conference over to the company for the Safe Harbor language. Please proceed.

Unidentified Company Representative

This conference call contains forward-looking statements within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act.

These statements include, without limitation, predictions and guidance relating to the company’s future financial performance, and the research, development and commercialization of its technologies.

In some cases, you can identify forward-looking statements by terminologies such as, may, should, expects, plans, anticipates, believes, estimates, predicts, potential, continue, or the negative of these terms or other comparable terminology.

These forward-looking statements are based on management’s current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the results of such factors, risks and uncertainties as, competition in the markets for the products and services sold by the company, the ability of the company to execute its plans, other factors detailed in the company’s public filings with the SEC, including, without limitation, those described in the company’s annual report on Form 10-K for the year ended June 30, 2014, as filed with the Securities and Exchange Commission and available at, and the parties maybe unable to agree upon definitive agreements. You are urged to consider these factors carefully in evaluating the forward-looking statements.


Thank you. With that, I would like to turn the conference over to your host, Mr. Doug Bathauer. Please proceed, sir.

Doug Bathauer - CEO

First of all, welcome everybody. I appreciate you taking the time and always your continued support. Just to start off, to give you a little bit of the agenda. We’ll start off with Bart Snell, our CFO, and he will do an overview of our year-end financials. And I also do want to apologize. There was a little bit of an XPRL problem with XPRL, so the financials did not get up quite as timely as what were supposed to have been. But Bart will review those. And following Bart’s discussion, we’ll follow that with a Q&A. Followed by the Q&A, I will then give a bit of a corporate update and forward-looking as far as where we see the company going and that will be followed by question-and-answer as well.

So with that, I’d like to turn it over to Bart Snell to discuss the year-end financials.

Bart Snell - CFO

Thanks, Doug, and welcome to all of you on the call. By the way, the side comment about XPRL observation was at the SEC and not the Integral end of the filing. A couple of observations before we go through the fiscal year results in more detail. Going back to year-end 2013 when I first started to be involved with the company, there was a significant signing of an agreement with Hanwha in that 10-K but at the same time, the balance sheet was very weak. There was significant debt and there was an accompanying cash impact of interest expense as well as the dilutive conversion features with the debt.

This year, in addition to building the operational business, we had a plan to deleverage the company or reduce debt and improve the quality of our financial reporting. With the results for this year contained in the 10-K we just filed recently, we have made significant progress to reduce debt, improve the quality of our financial reporting and prepare the company for the expected revenue growth in the next several years.