Lithium Exploration Group Inc. (OTCQB: LEXG) CEO addresses shareholders with his monthly newsletter:
We are presently finalizing the audit of our March 31 - 10Q. This is a very exciting quarter for our internal team because, for the first time in LEXG's history, we have operating business revenue to report.
We have spent the past month developing our goals for this quarter, the 2014 calendar year, and our upcoming fiscal year 2015. We have corporate goals and goals at the subsidiary level for all of our activities. Obviously the most significant goal is to have positive net earnings next fiscal year. We also have sales and profit margin goals at the subsidiary level. In addition, we have set goals to expand our Board of Directors and to establish appropriate committees in compliance with exchange requirements.
Last month we also made an offer to purchase another disposal facility that we felt had a lot of synergies with our existing operations. Unfortunately the offer was not accepted by the present owner. We are currently exploring a handful of other expansion opportunities, but it is important to note that we will not overpay for acquisitions and we are not going to acquire businesses that will require considerable capital expenditure to bring to profitability.
Here are a few keys to success that I see having a significant impact on our near and long term plans:
The acquisitions that we have recently made come with physical and liquid assets. These are things that we lacked in the past: having interest in the future of a technology and having undeveloped mining concessions are nice ... but they are not saleable assets. We intend to have a third party valuation prepared for all of our tangible assets in each 10K from here forward so that our shareholders can get a close look at the assets that are underlying their investment in our security.
I subscribe to the philosophy that "if you get the E (earnings) right, the P (price) will follow."
We are exploring acquisitions, looking at cost efficiencies in all of our operations, and implementing sales efforts all with the goal of achieving positive earnings. We need to show these positive earnings so that shareholders, analysts, and fund managers can place a value on our security now and in the future.
We have competitors in the disposal industry that have publicly traded valuations at 30 and 50 times their earnings. These are very large companies but they don't have game-changing technology or infinite earnings growth potential as we do here at LEXG. We are working vigorously to get positive earnings and set LEXG up for a long future of profitability and price appreciation.
Look out for our March 31 - 10Q filing in the next few weeks as it will have significant updates to the MD&A section. I look forward to the coming months and appreciate all of your continued support.
Lithium Exploration Group, Inc.
About Lithium Exploration Group
Lithium Exploration Group is a US-based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently the company is focused on its Western Canada lithium assets, testing its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is a fully reporting company traded on the OTCQB under the symbol LEXG. Website:www.lithiumexplorationgroup.com.
Safe Harbor Statement
This news release contains "forward-looking statements". Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future testing of the ultrasonic technology.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of lithium prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE: Lithium Exploration Group, Inc.