Preferred Technologies Group, maker of Cartell vehicle detection equipment since 1975, held its annual stockholder meeting on May 10, 2015 at its corporate offices outside Lancaster, Pennsylvania.
Preferred, privately held by stockholders, commenced the annual meeting at 1:13 p.m. David K. Sauder, Chairman of the Board, led the meeting.
Doug Long, Jr. reported the combination of those present and the proxies received established a quorum. Mr. Long then read the minutes of the 2012 meeting. The Minutes was accepted as read.
Donald Sauder, treasurer, reported on the year-end financials, followed by a President’s report by President/CEO Jonathan Bohannon. Mr. Bohannon’s PowerPoint presentation lasted forty-five minutes. It consisted of three points: 1) a backward look over 2013 highlights, 2) marketing ventures employed during the year, and 3) a look forward into new developments for the company.
The most dramatic news was the development of a radio product that will be an alternative to the present driveway and free exit systems that must be hard-wired. Prototype boards have been made for the new product that contains a radio custom-made for Preferred.
Prototypes will be distributed throughout the country for field-testing. If results are satisfactory, FCC approval for all radio boards and antennas will be attempted. The new product will then be launched in the fall of 2015, Lord willing. A name for the new product has not been chosen at the time of this printing.
The President’s report was accepted with appreciation, Mr. Bohannon himself being peppered with good questions. The present Board of Directors was unanimously re-instated, and the meeting adjourned at 2:17 p.m.