Panama Teak Forestry 2010 Annual Shareholders Meeting

[ptfnews]

Held on January 15, 2010 at 6:00 P.M. in Panama City, Panama

About a dozen shareholders atteneded the 2010 PanamaTeak Forestry shareholders meeting in Jan of this year. Following individual introductions those attending learned that the company continues to develop the infrastructure to process the teak resource. Total gross income from all sources this year was about $35,000. all of which was reinvested in the company. The company bought back about $100,000 in shares and spent about $300,000 in labor, Management, and maintenance costs. During 2010, the company will seek another $2 million in investments.

Recent capital infusions will enable the company to purchase mill equipment (sharpener, tensioner, planer, and kiln) to upgrade the sawmill. The kiln, which was shipped from Miami to Panama on January 20th will improve the company's ability to export teak products worldwide. A few orders have already been taken at a negotiated rate of $3.00 a board foot, which yields a net return of about 100% more than the projected $500 per cubic meter for mature teak logs.

Work on the website continued in 2009, and shareholders can now login to view financial statements as well as buy additional shares.
In 2010 we will be working on soil restoration, co-cropping (continuing with cattle and possibly introducing sheep), and mill operations. We will also work closely with research institutions, including MIT and Yale School of Forestry. A masters student from the Netherlands will be starting a 6 month internship with us on March 1st. The focus of the research analysis will be on silviculture activity costs and time management studies.

Panama Teak Forestry will enter the reforestation visa investment market through the purchase of the company Panama Forestry, a fully certified reforestation company with the entire infrastructure in place for creating and selling reforestation visa packages. This will add another near term income stream to Panama Teak Forestry. The management decided to act on a deal that got some discussion while visiting the plantations in Penonome. Jeff Duda and Jack McCotter have had some involvment with Panama Forestry and the Visa program for a number of years The deal will cost $210,000 in cash and stock based on full share price as of Feb 2010. Panama Forestry has about 28 hectares of planted teak under management.

With the acquisitions of Panama Forestry and reforestation visa plot sales, and the production from the mill we expect to see a steady increase in income over the coming years. For the next few years, all income will be reinvested into our growth and financial strength.

Panama Teak Forestry continues to do very well in the current marketplace and we expect continued growth through out 2010.