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Profire Energy, Inc. (OTCBB: PFIE) provides safe and efficient burner management systems and services for use in oil and gas combustion. These technologies capitalize on industry demand for greater efficiency, improved safety and stronger environmental standards. The company is profitable and cash flow positive with no long-term debt, and trades with a price-earnings multiple of less than 17x.
HISTORY OF PROFIRE ENERGY, INC.
Since March of 2002, when Profire Combustion Inc. was conceived, we have had a vision of the Burner Industry and its future. We sought to provide a service as combustion experts that was unmatched by any of our counterparts. We feel we can claim great success in this endeavor.
Soon after Profire’s inception, we developed a control panel for the management of burners, a system we called the Profire 1100. This attained unparalleled success, quickly becoming the leading Burner Management System on the market. Annually, our sales climbed, our service department grew, and our company expanded. With our team of highly qualified personnel, we were able to stake our position in this rapidly growing market. Soon Profire Combustion expanded to a point where the prospects of going public became a reality, and after the acquisition of a public shell corporation, Profire Energy Inc. was born. This entity became the medium for furthering corporate growth. The company continued to grow with the economic boom, then sustained even further growth in the face of a recession.
Despite turmoil in the market, we began developing the new-generation 2100 BMS. As it approached its final certification, we became more aware of the void this cutting-edge technology would fill. We feel our sober business tactics and knowledge of the market have allowed us to carefully maneuver the rocky business landscape and emerge successful. But since our success depends on much more than our past, our vision remains firmly affixed on the future. Our research and development division is plumbing new depths, our sales and marketing division is reaching out both domestically and globally, and our corporate leaders are supporting growth both internally and through the possibility of acquisition.
MANAGEMENT
- BRENTON W. HATCH – CEO Profire Energy Inc.
Brenton co-founded Profire Combustion, Inc. in 2002. Since that time he has served as the Chief Executive Officer and General Manager of the Company. He has been responsible for the day-to-day operations of Profire Combustion since its inception. Prior to founding Profire Combustion, between 2001 and 2002 he was a Management Consultant and General Manager of Titan Technologies, Inc., an oilfield service and distribution company in Edmonton, Alberta, Canada. In this position, he performed an in-depth analysis of the operations and management of all divisions of Titan Technologies. Based on his analysis, company-wide operational changes were implemented to improve company performance.
From 1989 to 2000 he served as President and Chief Executive Officer of Keaton International, Inc., an educational services company based in Edmonton, Alberta, Canada. He managed all executive functions of the company and particularly focused on the development and management of the company’s educational services. During his time at Keaton International, Brenton led corporate networking and marketing campaigns world-wide. He earned a Bachelor’s Degree in Education from the University of Alberta in 1974. He is not, nor has he in the past five years been a nominee or director of any other SEC registrant or registered investment company. We considered Mr. Hatch’s experience as a founder and as the principal executive officer of Profire Combustion, as well as his previous management and operational oversight experience in concluding that he should serve as a director of the Company.
- HAROLD ALBERT – COO Profire Energy Inc.
Harold co-founded Profire Combustion, Inc. in 2002. He has served as the President and Chief Operating Officer of Profire Combustion since that time. Harold is responsible for research and development of new products and services. He oversees our Canadian operations. Prior to founding Profire Combustion, he worked in the oil services industry for Titan Technologies, Inc. from 1996 to 2002. During that time he served as an Associate Manager overseeing the company’s burner division. From 1993 to 1996 he was employed with Natco Canada doing start up and commissioning of oil and gas facilities in both Canada and Russia. Harold is not, nor has he in the past five years been, a nominee or director of any other SEC registrant or registered investment company. We considered Mr. Albert’s experience as a founder and principal operating officer, combined with his previous management and operational experience in concluding that he should serve on the Company’s board of directors.
- ANDREW LIMPERT – CFO Profire Energy Inc.
Andrew graduated from the University of Utah with a Bachelors of Science degree in Finance in 1994. He earned a Masters of Business Administration with an emphasis in Finance from Westminster College in 1998. He joined The Flooring Zone, Inc. in November 2007. From 1998 to 2008, Andrew was an investment advisor with Belsen Getty, LLC, providing wealth management direction and strategic and financial advice for several investment banks.
For the past 15 years he has founded, consulted on and funded numerous businesses in the private and public arenas. In 2007 he became the chairman of the board of directors of Nine Mile Software Inc., a rebalancing and mutual fund trading software developer. Nine Mile Software became an SEC registrant during 2008. He resigned as Chairman of Nine Mile in April of 2011. During the past five years he has also served as a director of Ohr Pharmaceutical Inc., a New York based biotech incubator. Ohr Pharmaceutical is also an SEC registrant. In April 2010 he resigned as an officer and director of Ohr Pharmaceutical. Andrew is not, nor has he in the past five years been, a nominee or director of any registered investment company. We considered Mr. Limpert’s extensive investment experience and his related finance and educational background in concluding that he should serve on the Company’s board of directors.
SEC FILINGS
Profire SEC Filings
SHARE STRUCTURE (approximate as of August, 2011)
- Outstanding Shares: 45,000,000
- Float: 6,000,000
TRANSFER AGENT
OTC Stock Transfer, Inc.
231 E. 2100 South
Salt Lake City, UT, 84165
CONTACT INFORMATION
UNITED STATES
Profire Energy Inc.
Lindon Office
321 South 1250 West, Ste#1
Lindon, Utah
84042 USA
Phone: 1-801-796-5127
Fax: 1-801-785-5455
CANADA
Profire Combustion Inc.
P.O. Box 3313
Bay 12, 55 Alberta Avenue
Spruce Grove, Alberta
T7X 3A6 Canada
Phone: 1-780-960-5278
Fax: 1-780-960-5078
Website: www.profireenergy.com
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