manitex international, inc. · recent headlines- new orders, dealer additions, new products nasdaq...
TRANSCRIPT
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of the earliest event reported) December 6, 2017
MANITEX INTERNATIONAL, INC. (Exact Name of Registrant as Specified in Its Charter)
Michigan 001-32401 42-1628978
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
9725 Industrial Drive,
Bridgeview, Illinois 60455
(Address of Principal Executive Offices) (Zip Code)
(708) 430-7500
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
On December 6, 2017, the Company posted a slide presentation on its website. This slide presentation is incorporated herein by
reference.
The information under Item 7.01 in this Current Report on Form 8-K, including the exhibits hereto, is being furnished and shall not be
deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities
of that Section. The information under Item 7.01 in this Current Report on Form 8-K will not be incorporated by reference into any
registration statement or other document filed by the Company under the Securities Act of 1933, as amended, unless specifically
identified therein as being incorporated by reference. The furnishing of the information under Item 7.01 in this Current Report on Form
8-K is not intended to, and does not, constitute a determination by the Company that the information under Item 7.01 in this Current
Report on Form 8-K is complete or that investors should consider this information before making an investment decision with respect to
any security of the Company.
Item 9.01 Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Shell Company Transactions.
Not applicable.
(d) Exhibits.
99.1 Manitex International, Inc. slide presentation posted on Company website December 6, 2017.
EXHIBIT INDEX
Exhibit
Number Description
99.1 Manitex International, Inc. slide presentation posted on company website December 6, 2017.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf
by the undersigned thereunder duly authorized.
MANITEX INTERNATIONAL, INC.
By: /s/ MICHAEL SCHNEIDER
Name: Michael Schneider
Title: SVP & CFO
Date: December 6, 2017
MA
NIT
EX
IN
TE
RN
AT
ION
AL
, IN
C. (
NA
SD
AQ
: MN
TX
) C
orpo
ra
te P
re
se
nta
tio
n D
ece
mber 1
, 2
01
7 E
xhib
it 9
9.1
Sa
fe H
arbo
r S
tate
me
nt u
nde
r th
e U
.S. P
riv
ate S
ecu
ritie
s L
itig
ati
on R
eform
Act o
f 1
99
5: T
his p
re
sen
tatio
n c
onta
ins sta
tem
ents
tha
t are fo
rwa
rd-lo
ok
ing i
n n
atu
re
whic
h e
xpre
ss t
he
belie
fs a
nd e
xpe
ctatio
ns o
f m
ana
ge
me
nt i
nc
ludin
g s
tatem
en
ts r
ega
rdin
g t
he
Com
pa
ny’s e
xpe
cte
d r
esu
lts o
f o
pe
rati
ons o
r liq
uidit
y; s
tatem
ents
conc
ernin
g p
roje
ctio
ns, p
red
ictio
ns, e
xpe
ctatio
ns, e
stim
ates o
r f
orec
asts
as t
o o
ur b
usin
ess, fi
na
ncial a
nd o
pe
ra
tiona
l re
sults
and fu
tu
re ec
onom
ic p
erfo
rma
nce
; and
sta
tem
ents o
f m
ana
ge
me
nt’s
goa
ls a
nd o
bje
ctiv
es a
nd o
the
r s
imila
r e
xpressio
ns c
onc
erning m
att
ers th
at a
re n
ot h
isto
ric
al f
acts. I
n s
om
e c
ase
s,
yo
u c
an
ide
nti
fy
fo
rw
ard
-lo
ok
ing
sta
tem
en
ts b
y t
erm
in
olo
gy
su
ch
as “
an
ticip
ate,” “
esti
ma
te,”
“p
lan
,” “p
rojec
t,” “
co
nti
nu
ing
,” “o
ng
oin
g,”
“e
xp
ec
t,” “
we
be
liev
e,”
“w
e in
ten
d,”
“m
ay,” “
wil
l,” “
sh
ou
ld
,” “
co
uld
,” a
nd
sim
ilar e
xp
re
ssio
ns. S
uc
h s
tate
men
ts a
re b
ase
d o
n c
urr
en
t p
lan
s, e
stim
ate
s a
nd
ex
pec
tati
on
s a
nd
in
vo
lve a
nu
mb
er o
f k
no
wn
an
d u
nk
no
wn
ris
ks, u
nc
ert
ain
ties a
nd
o
the
r f
ac
tors th
at c
ou
ld c
au
se t
he C
om
pa
ny
's f
utu
re
resu
lts, p
erf
orm
an
ce
or a
ch
iev
em
en
ts t
o d
iffe
r s
ign
ific
an
tly
from
the
resu
lts, p
erf
orm
an
ce
or a
ch
iev
em
ents
ex
pre
sse
d o
r im
plie
d b
y s
uc
h f
orw
ard-lo
ok
ing
sta
tem
ents
. The
se
fac
tors
and
ad
diti
on
al in
form
atio
n a
re
dis
cusse
d in
th
e C
om
pa
ny
's f
ilin
gs w
ith
the S
ecu
ritie
s a
nd E
xch
an
ge C
om
mis
sio
n a
nd
sta
tem
en
ts in
th
is p
rese
ntatio
n s
hou
ld b
e e
valuated
in l
igh
t o
f th
ese
importa
nt f
ac
tors. A
lth
oug
h w
e b
elie
ve
tha
t th
ese sta
tem
ents
are
ba
se
d u
po
n r
ea
so
nable assu
mp
tions, w
e c
anno
t gu
ara
nte
e f
uture re
sults
. Forw
ard
-looking s
tatem
en
ts s
pea
k o
nly
as o
f t
he d
ate o
n w
hic
h t
he
y a
re
made
, an
d t
he
Co
mpa
ny u
ndertake
s n
o o
bli
ga
tion
to u
pda
te p
ub
licly o
r r
evis
e a
ny f
orw
ard
-lo
okin
g s
tate
men
t, whe
the
r a
s a
resu
lt of n
ew
inform
atio
n, f
utu
re
de
ve
lopm
en
ts o
r o
the
rwise
. Non
-G
AA
P M
easures: M
anite
x I
nte
rnatio
na
l fr
om
time
to t
ime
re
fers t
o v
ari
ous n
Wh
y W
e a
re
Here
Toda
y-Inve
stm
ent C
onsidera
tions I
MP
RO
VIN
G O
UT
LO
OK
for
2017 a
s r
eco
ve
ry b
eg
ins t
o a
cc
ele
rate: A
nnoun
ce
d b
ac
klo
g o
f $
50.3
mil
lion (
9/3
0/17), g
row
th o
f 6
0.8
% o
ver 1
2/3
1/16; 6
% hig
he
r, s
eque
nti
ally
Produc
tion is
ex
pec
ted
to s
tea
dil
y in
cre
ase
alo
ng w
ith r
eve
nue
s,
ma
rgin
s, a
nd
EB
IT
DA
th
roughou
t the y
ea
r a
nd in
to n
ext D
EL
EV
ER
AG
IN
G s
tra
tegy
inc
lude
s d
ive
sti
ture
s a
nd p
ortfo
lio
adjustm
en
ts S
tea
dy in
cre
ase i
n M
AR
KE
T S
HA
RE
in s
tra
ight-
ma
st
cra
ne
s la
st
5 y
ears; p
ote
ntia
l to ta
ke m
arket s
ha
re f
or k
nuckle
boom
cra
ne
s v
ia PM
Over f
irst 3
qua
rte
rs o
f 2
01
7 in
dustr
y o
rde
rs a
re u
p 6
0%
ye
ar to
da
te O
rd
ers in
th
ird
qu
arter w
ere u
p 1
05
% v
s s
am
e q
ua
rte
r a
y
ea
r a
go
Du
rin
g th
ird
qu
art
er, M
an
itex
share
gre
w 1
0 p
erc
entag
e p
oin
ts v
s. s
am
e q
ua
rter l
ast y
ear Y
ea
r to
da
te m
ark
et s
hare
ince
ase
d 4
pe
rce
ntag
e p
oin
ts v
s. l
ast y
ear L
ast c
yclic
al p
eak
fo
r PM
an
d M
an
itex
wa
s O
VE
R $
35
0M
in
ne
t sa
les a
nd
ap
pro
xim
ately
$4
5 m
illio
n in
EB
IT
DA
; po
ten
tial E
AR
NIN
GS P
OW
ER
no
w e
xc
ee
ds p
rio
r p
eak
lev
el; p
ro
du
ct m
ix
ha
s c
ha
ng
ed
the
margin p
rofile
aw
ay f
rom
low
-ma
rgin
materia
ls h
andli
ng b
usin
esse
s t
o p
rim
aril
y c
rane
busin
esse
s N
AS
DA
Q : M
NT
X3
Re
ce
nt H
ea
dlin
es- N
ew
Ord
ers, D
ea
ler A
ddit
ions, N
ew
Produ
cts N
ASD
AQ
: M
NT
X4
Octobe
r 3
0, 2
017, M
anite
x I
nte
rna
tiona
l W
elc
om
es T
am
pa
Cra
ne
& B
ody
as K
nuc
kle
Boom
Distr
ibu
tor in
Florid
a O
cto
be
r 1
8, 2
017, M
anite
x I
nte
rn
atio
nal, I
nc. E
xpa
nds N
ort
h A
me
ric
an
Prod
uct L
ine
with
A6
2, tr
oll
ey b
oom
lo
ade
r, a
nd
oth
er n
ew
produc
ts (
$20M
in
incre
me
nta
l 2018 s
ales pote
nti
al)
Octobe
r 4, 2
017
, Manit
ex In
tern
ati
ona
l, Inc
. An
no
unc
es $
12 M
illio
n N
ew
Crane
Orde
r T
ak
en
at I
CU
EE
20
17 O
cto
be
r 2
, 2017, M
an
itex I
nte
rna
tional W
elcom
es W
este
rn P
ac
ific
Cra
ne
& E
quip
me
nt t
o P
M K
nuc
kle
bo
om
De
ale
r N
etw
ork
Se
ptem
be
r 1
8, 2
01
7, M
an
ite
x I
nte
rn
atio
na
l We
lco
mes W
alt
er P
ay
ton
Po
we
r E
qu
ip
me
nt to
Kn
uck
le b
oo
m D
ea
ler N
etw
ork
Ju
ly 2
0, 2
01
7,
Ma
nite
x I
nterna
tion
al, I
nc
. An
no
un
ces €
1.5
Mill
ion
in
Ne
w O
rders f
or P
M T
ru
ck
-M
ou
nte
d K
nu
ck
le b
oo
m C
ra
ne
s
MA
NIT
EX
IN
TE
RN
AT
ION
AL
: O
VE
RV
IE
W M
an
itex I
nte
rna
tional is
a l
ea
din
g p
rovid
er o
f s
traight-
ma
st a
nd k
nuc
kle b
oom
cra
ne
s a
nd o
ther s
pec
iali
ze
d e
qu
ip
me
nt fo
r nic
he in
dustr
ial a
ppli
ca
tio
ns; M
anit
ex
has its
asse
mbly f
ac
ilitie
s l
oc
ated
in N
orth
Am
eric
a and
Europe
and p
roduc
ts a
re
sold th
rou
gh in
dep
end
ent d
ealers, w
orld
wid
e. N
AS
DA
Q :
MN
TX
Kn
uc
kle
Bo
om
s v
s. S
traig
ht-
mast C
rane
s K
nu
ckle boom
s—
PM
Cra
ne
s E
nd-M
ark
ets: C
onstru
ctio
n, l
ogis
tics, u
tility
, ene
rg
y, m
ilita
ry, r
ail L
iftin
g C
ap
ac
ity: 1
– 8
0 U
S to
ns (
1-2
50 T
-M
) E
stim
ated
20
17 U
nit V
olu
me (
mark
et)
: 50,0
00 Fe
atu
res: M
ate
ria
l ca
rry
ing
ca
pa
bili
ty, e
ase
of u
se
, broa
d m
arke
t usag
e N
AS
DA
Q :
MN
TX
7 S
tra
ight M
ast—
Ma
nit
ex
C
ra
nes E
nd M
ark
ets
: Co
nstr
uc
tio
n, u
tili
ty, e
ne
rgy, r
enta
l, min
ing, a
dve
rtis
ing, r
ailr
oa
d L
ift
ing C
apa
city
: 17
– 7
0 U
S t
ons E
stim
ated
2017 U
nit V
olu
me
(m
arke
t): 2
,000
Fe
ature
s: H
igh
lif
ting r
an
ge
, div
erse
end
-m
arke
t app
lica
tion
s
Sa
les I
nc
rea
se
and M
argin
Expa
nsion in
2017 a
nd B
eyond Sa
les: C
ran
e b
ac
klo
g g
row
th s
hould a
dd g
ra
dua
lly to
Manite
x I
nte
rna
tion
al s
ale
s th
rou
ghout 2
017 P
eak
leve
l for r
em
ain
ing
businesse
s* w
as >
$350
M (
and E
BIT
DA
of a
ppro
x. $
45
M) R
un r
ate s
ales fo
r re
ma
inin
g b
usin
esse
s*
of ju
st o
ve
r $
200M
* R
em
ain
ing b
usine
sse
s =
Ma
nit
ex
, C&
M, B
adge
r, Sa
bre
, an
d V
alla
; an
d P
M a
nd
O&
S M
arg
in P
rofile
Im
pro
ves in
2017 f
rom
non-cra
ne
div
estitu
res w
ith
<4%
EB
IT
DA
ma
rgin
: S
ale
s r
educ
tion $
90M
EB
ITD
A re
duc
tion $
4M
Ove
r $
15 m
illio
n i
n c
ost
reduc
tions a
chie
ve
d th
rou
gh s
ou
rcin
g a
nd o
pe
ra
ting
effic
ienc
y in
itia
tiv
es 2
01
5-2
01
7 1
0%
-P
lus E
BIT
DA
marg
in
go
al w
ith
contin
ue
d c
ran
e m
ark
et re
cove
ry a
nd e
xe
cutio
n N
ASD
AQ
: M
NT
X8
LIF
TIN
G E
QU
IPM
EN
T M
AR
KE
T O
VE
RV
IE
W –
ST
RA
IG
HT
MA
ST
Ap
proxim
ate 15 p
pt m
ark
et s
ha
re gain o
ve
r p
ast 5
ye
ars w
hile
mo
re b
roa
dly
div
ersif
yin
g to
nna
ge
pen
etra
tio
n I
mp
orta
nt n
ew
produ
cts w
ithin
the past 2
4 m
onths in
the
20, 2
2, 3
0,
and
40 to
n c
lasse
s I
nc
rea
se
d p
ene
tra
tion
of 4
0, 4
5 a
nd
50 to
n c
rane
s w
ith
ae
rial w
ork p
latf
orm
s f
or u
tilit
y, te
lec
om
an
d w
ind c
onstr
uctio
n/m
ain
ten
anc
e P
ea
k l
eve
l tota
l Man
itex S
tra
ight M
ast S
ale
s w
as $
13
0M
NA
SD
AQ
: MN
TX
201
7 in
du
str
y o
rde
rs a
nd f
ore
ca
sted ship
me
nts
inc
rea
sin
g d
ue
to u
sed
eq
uip
men
t marke
t no
rma
liza
tion
an
d s
tre
ngth
in t
he con
str
uc
tion
, uti
lity
, an
d e
ne
rgy
se
cto
rs O
rd
er a
cti
vity
in Y
TD
’1
7 5
4%
for c
ran
es o
ver 3
0 to
ns an
d 4
5%
fo
r c
ran
es l
ess th
an
30
ton
s B
oo
m tr
uc
k c
ran
es ty
pica
lly
less e
xp
en
siv
e th
an
ro
ug
h te
rra
in a
nd
all t
erra
in c
ran
es
TH
E K
NU
CK
LE
B
OO
M M
AR
KE
T $
2.3
B
illio
n G
loba
lly (
Ma
na
ge
me
nt E
stim
ates)
Nort
h A
meric
an
Knu
ck
le B
oom
ma
rk
et is
gro
win
g L
arge
Ma
rke
t of $
2.3
BN
fa
r e
xce
eds t
he
siz
e o
f th
e s
tra
igh
t-m
ast
boom
truc
k m
arke
t (glo
bal)
PM
ha
s a
geo
grap
hic
ally
dive
rse c
usto
me
r b
ase
Opportunit
y to
in
cre
ase
PM
Group’s N
o.
Am
eric
an
m
ark
et p
resenc
e th
rou
gh M
anite
x’s d
istr
ibutio
n n
etw
ork $
400 N
orth
Am
eric
a K
nuc
kle
bo
om
Marke
t Wo
rldw
ide
Sales (U
S$, m
illio
ns)
We
stern E
uro
pe E
aste
rn E
urope
No
rth
Am
erica
So
uth
A
me
ric
a R
est o
f W
orld
$13 N
orth
Am
eric
a $
24 P
M G
ro
up
TT
M R
even
ues (
US$,
mil
lion
s) N
ASD
AQ
: M
NT
X $
15 P
rinc
ipa
l In
du
str
y P
arti
cip
an
ts P
M P
ea
k le
ve
l sa
les o
f $
15
0 M
illio
n in
20
08
RE
PL
AC
EM
EN
TS
PA
RT
S&
SE
RV
IC
E C
on
sis
ten
t rec
urrin
g re
ve
nue
stre
am
througho
ut th
e c
yc
le T
yp
ically
ge
ne
rates 1
0%
-20%
of n
et s
ales in
a q
ua
rte
r/y
ear T
ypic
ally
ca
rry
2x g
ross m
arg
in o
f co
re
equip
me
nt b
usin
ess S
pa
res r
elate t
o s
win
g d
riv
es, r
otatin
g c
om
pone
nts
, & b
oom
s a
mong oth
ers, m
any
of w
hic
h a
re p
roprie
tary
Se
rv
e a
dditi
ona
l bra
nds S
erv
ice t
ea
m f
or
cra
ne
eq
uip
men
t Auto
ma
ted p
roprie
tary s
yste
m i
mplem
ente
d in
prin
cip
al o
pera
tions N
AS
DA
Q : M
NT
X
OP
ER
AT
IN
G C
OM
PA
NIE
S P
rod
ucts, E
nd
Ma
rket, D
riv
ers S
traight-
mast b
oom
truc
ks a
nd cra
ne
s S
ign c
ran
es P
arts
Pow
er tr
an
sm
issio
n I
ndustri
al p
roje
cts
Infra
str
uc
ture
de
ve
lopm
en
t Str
on
g e
nd m
ark
et d
em
and f
or s
pe
cia
lize
d, c
om
petiti
vely d
iffe
ren
tia
ted p
ro
duc
ts f
or o
il, g
as, a
nd e
ne
rgy s
ectors P
rod
uc
t de
ve
lopm
ent N
AS
DA
Q : M
NT
X K
nuc
kle
bo
om
cran
es T
ruck
-mo
unted
Aeria
l Pla
tform
s C
onstr
uc
tion I
nfrastr
uc
ture U
tilitie
s G
row
ing a
cce
pta
nc
e o
f k
nu
cklebo
om
s in
North
Am
eric
an
m
arkets O
il a
nd g
as e
xplo
rati
on
crea
tin
g d
em
and Produc
t dev
elopm
ent P
re
cisio
n p
ick &
ca
rry c
rane
s A
uto
motiv
e C
he
mic
al /
pe
tro
ch
em
ica
l In
fra
stru
ctu
re d
ev
elo
pm
en
t A
ero
sp
ac
e C
on
str
uc
tion
Str
on
g e
nd
ma
rket d
em
an
d f
or s
pe
cia
lize
d, c
om
petiti
vely
dif
fe
ren
tia
ted
pro
du
cts
En
viro
nm
en
tal (
ele
ctr
ic)
or h
az
ard
ou
s (
sp
ark
fre
e) d
ev
elo
pm
en
ts P
ro
du
ct d
ev
elo
pm
ent R
ou
gh
terrain
cra
ne
s S
pe
cia
lize
d c
on
str
uc
tio
n e
qu
ipm
en
t Pa
rts R
ailr
oa
d C
on
str
uc
tion
Re
fin
erie
s M
un
icip
ali
ty E
qu
ipm
en
t re
pla
ce
men
t c
ycle i
n s
mall to
nn
ag
e fl
ex
ible
cran
es fo
r re
fin
ery
ma
rk
et M
ore
effic
ien
t pro
du
ct o
ffe
rin
g a
cro
ss end
ma
rk
ets
Sp
ecializ
ed
eq
uip
men
t f
or liq
uid
sto
rag
e &
con
tain
me
nt 8
,00
0-21
,00
0 g
allo
n c
ap
ac
ities E
ne
rgy
Pe
tro
ch
em
ic
al W
aste m
anag
em
en
t Rep
uta
tion
for
qu
alit
y &
innov
ati
on S
erve
s a
marke
t of o
ve
r $1B
an
nu
ally
EX
PE
RIE
NC
ED
MA
NA
GE
ME
NT
TE
AM
Da
vid
La
ng
evin
, Ch
air
ma
n &
CE
O 2
0+
ye
ars p
rin
cip
ally
with
Tere
x M
ich
ae
l Sc
hn
eid
er, C
FO
25+
ye
ars in
finan
cial o
pe
ratio
ns, F
orm
erly
with
Ern
st &
Young
Steve
Kiefe
r, P
re
sid
en
t 2
5+
ye
ars pri
nc
ipa
lly w
ith E
aton C
orp
. and H
endric
kso
n I
nte
rnatio
na
l Sc
ott
Rolsto
n, S
VP
Str
ateg
ic P
lann
ing 3
0+
yea
rs p
rin
cipa
lly w
ith
Man
itex a
nd M
an
itow
oc J
im P
ete
rso
n, E
xec
uti
ve V
ice P
re
sid
en
t, O
pera
tio
ns 3
5+ y
ea
rs in
ma
nufa
cturin
g o
pera
tions L
uigi F
uc
ili, C
EO
PM
Gro
up 1
0+
ye
ars p
rin
cip
all
y w
ith P
M G
roup
NA
SD
AQ
: M
NT
X
FIN
AN
CIA
L S
UM
MA
RY
SN
AP
SH
OT
Ke
y S
tati
sti
cs $000, e
xc
ept %
as a
dju
ste
d 2
01
7* 2
01
3*** 2
012***
Re
ve
nue
s R
an
ge : $
180
M -
$200
M $
245,0
72 $205,2
49 G
ross M
arg
in (
%) R
ange
: 18
% -2
0%
19.0
% 1
9.7
% A
djuste
d E
BIT
DA
Ra
nge
: $15M
- $
17M
$21,4
83
$17,9
57 A
dj. E
BIT
DA
Ma
rg
in (%
) R
an
ge
: 8.3
% -
8.5%
8.8
% 8
.7%
Ad
justed
Net in
co
me R
ange
: $1.5M
- $
3.0
M $
10,1
78 $
8,0
77 B
ack
log $
50.3
M (a
s o
f 9/3
0/17) $
77,2
81 $
13
0,3
52 *
Expe
cted
rang
es exc
lude A
SV
, and a
ll o
ther d
iveste
d p
rope
rtie
s a
s o
f 5/1
7/17 a
nd s
ubje
ct to
re
sta
tem
ent *
*D
ebt i
s p
er 6
/30
filin
gs th
at a
re
in pro
ce
ss of b
ein
g r
esta
ted (
8-K
, No
vem
be
r 10
, 20
17
) *
**
Rep
ort
ed
resu
lts,
prio
r to
AS
V a
nd
PM
tra
nsacti
on
s S
toc
k P
ric
e (1
1/3
0/1
7) $
8.3
1 /s
ha
re
Ma
rk
et C
ap
(1
1/3
0/1
7) $
13
7.9
M T
otal E
nt.
Valu
e (1
1/1
0/1
7)*
* $
22
7.5
M T
ick
er
/ Exc
ha
ng
e M
NT
X/N
asd
aq
CM
Ba
sic S
ha
res (6
/30
/17
) 1
6.6
M D
ilu
ted
Sh
are
s (
6/3
0/1
7) 1
6.6
M T
ota
l NE
T D
eb
t (
6/3
0/1
7)*
* $
8
9.5
M C
ap
italiz
atio
n N
ASD
AQ
: M
NT
X