MINUTES OF THE FOURTEENTH ANNUAL GENERAL MEETING

OF

SPACE ENVIRONMENT CORPORATION

October 30, 2000

The fourteenth annual general meeting of Space Environment Corporation was held at the main office of Space Environment Corporation at 399 North Main, Suite 325, Logan, Utah, on October 30, 2000.

Present: J.V. Eccles, R.W. Schunk, W.J. Raitt, J.J. Sojka, V.B. Wickwar.

The meeting was called to order by the president at 6:05 p.m.

Minutes of the Thirteenth Annual General Meeting

R.W. Schunk moved to accept the minutes of the Thirteenth Annual General Meeting. W.J. Raitt seconded the motion. The motion was passed unanimously.

President's Report, 1998-1999

See attached sheets

Additional comments

It was noted that Tize Ma worked at SEC in the last fiscal year, which goes from July 1 to June 30. The President will add Tize Ma's name to the list of employees in the President's Report. However, R.W. Schunk noted that his Report covers SEC activity from Annual Meeting to Annual Meeting rather than the fiscal year. A short discussion on the appropriate period of the report occurred. J.J. Sojka suggested that the President provide a preamble to the Report introducing the report and describing the reporting period. W.J. Raitt moved that the President's report should continue to describe activity between the Annual General Meetings. J.J. Sojka seconded the motion. It passed with no opposition.

W.J. Raitt moved to accept the President's report with the additions of a preamble and Tize Ma's name. J.J. Sojka seconded the motion. It passed unanimously.

 

Treasurer's Report

See attached sheets.

R.W. Schunk moved that the treasurer's report be accepted, W.J. Raitt seconded the motion. It was passed unanimously.

General Discussion

The present, deteriorating phone system in the SEC office was not replaced last year. It was decided that Susan Sojka and J.V. Eccles should obtain bids for its replacement and SEC replace the system on overhead.

J.J. Sojka reported that Don Thompson withdrew from beginning a Computer Consulting activity through SEC for health reasons.

R.W. Schunk reported that the present owners of the Washington Federal Savings office building where SEC resides plan to renovate the building. SEC needs to consider moving to another rented office or purchase an office building. Buying would only occur if new contracts were obtained. R.W. Schunk would call a Business Meeting when news of the planned renovation is received.

R.W. Schunk will continue to pursue possible new contracts or consulting work with Michigan Aerospace Corporation, Innovatum Inc, NRL, and AFRL.

V.B. Wickwar stated that he would like to submit an SBIR proposal through SEC on LIDAR applications. J.V. Eccles is presently the only SEC employee that qualifies as a principal investigator (PI) for an SBIR. A PI must work at the company for the majority of his employment hours.

J.J Sojka presented a graphic demonstration of the high mineral content of Logan water. Then he informed the shareholders that SEC now pays for Culligan Water at the SEC corporate offices.

J.V. Eccles moved and J.J. Sojka seconded to adjourn the meeting at 8:15p.m.

 

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J. Vincent Eccles, Secretary