CEO Perspectives

S-Ray and the JOBS Act – Part 1 of 3

Posted by Steve Baird on September 30, 2016  /   Posted in CEO Perspectives

Shortly after the founding of S-Ray in 2008, the United States entered the Great Recession. In response to this financial devastation, the Federal Government passed the American Recovery and Reinvestment Act of 2009 and followed up with the Jumpstart Our Business Startups Act (JOBS Act) in 2012. S-Ray has utilized aspects of both Acts. This three-part perspective will explain why and how we used that legislation to survive and grow throughout the recession.

The first benefit we utilized was the Qualified Small Business Stock provisions. In brief terms, this encouraged individual investment in entities such as S-Ray by setting a ZERO federal capital gains tax rate if the stock is sold after a five-year holding period. As of this article (September 30, 2016), 26,041,370 of our shares have passed the five-year threshold. If S-Ray were either to go public or to be acquired, existing shareholders meeting the five-year holding period would have the opportunity to sell their stock and pay NO federal capital gains tax on the transaction.

The QSBS function provided a no cost incentive to early investors. Neither S-Ray nor the investors had any additional expense to earn the QSBS designation.

QSBS has also given S-Ray management guidance on investment timelines – meaning that about 25% of our shareholders may be ready to liquidate their holdings given that the five-year holding period has been met.

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The S-Ray Garage Band

Posted by Steve Baird on July 26, 2016  /   Posted in CEO Perspectives
S-Ray Garage Band instruments

Instruments of S-Ray’s own band – not in the garage, but in our Redmond R&D lab

If we were to consider the staff of S-Ray as a garage band, we may see some very interesting parallels to help understand current opportunities and challenges.

A garage band can be defined as “a group of amateur musicians who play for local audiences.” Key to the definition is the “local audience.”

S-Ray has chosen to follow a market driven innovation process.  This means all product development is undertaken as an ongoing conversation with our intended customers and users.  Our future customers tell us the product that they want to buy – our team simply needs to turn the vision of the customer into the product.  Because our customers are in a well-defined industry – dentistry – there is a great deal of communication within our future customer group.  While we are aware of a portion of those communications, there is substantially more communication which may have been started by S-Ray, but continues on without the prompting by the company.

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What Brexit means to S-Ray

Posted by Steve Baird on June 30, 2016  /   Posted in CEO Perspectives

Some of our shareholders have asked about the impact of the recent “BREXIT” decision on S-Ray. In addition to that specific factor, I’d also like to address the health of the global economy as it might impact the company.

Michael Dunn, S-Ray’s ClearView LAB Product Manager, has developed five year revenue projections for S-Ray. These projections were subject to review by industry advisory board members as well as some potential strategic investors. Those projections are the basis for our sales and marketing plans.
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