MINUTES OF THE SEVENTEENTH ANNUAL GENERAL MEETING
SPACE ENVIRONMENT CORPORATION
October 4, 2003
The seventeenth annual general meeting of Space Environment Corporation was held in the Conference Room at the Corporation Headquarters at 221 N. Spring Creek Parkway, Suite A, Providence, Utah, on October 4, 2003.
Present: J. V. Eccles, R. W. Schunk, J. J. Sojka, V. B. Wickwar, W. J. Raitt
The meeting was called to order by Company President R. W. Schunk at 8:10 a.m.
Minutes of the Sixteenth Annual General Meeting
The Company Secretary presented the minutes of the previous year's Annual General Meeting. W. J. Raitt moved to accept the Minutes of the Sixteenth Annual General Meeting. J. J. Sojka seconded the motion. The motion was passed unanimously.
See attached President's Report dated October 4, 2003.
The report covers company activity from the previous Annual General Meeting on November 9, 2002 to the present annual meeting. V. B. Wickwar moved to accept the President's Report. J. J. Sojka seconded the motion. The motion passed unanimously.
See attached Treasurer's Report for Year Ending June 30, 2002.
J. V. Eccles made a request that next year's Treasurer's Report include graphs of year-to-year trends of revenue, net income, and stockholder equity. V. B. Wickwar moved that the Treasurer's Report be accepted as presented. W. J. Raitt seconded the motion. The motion was passed unanimously.
W. J. Raitt proposed that SEC meet with a financial advisor to investigate the wise management of the SEC fee. The taxable fee is projected to be large enough in future years to make such advice advantageous to the Shareholders.
V. B. Wickwar raised the question of the pursuit of new Small Business Innovative Research proposals in the area of optical measurements. J. J. Sojka reminded the shareholders that, due to SEC's success in winning new contracts, the present employees are wholly occupied in current work. A new effort in optical measurements is encouraged, but a new individual would need to be identified to support the new area of expertise in the company. It was noted SEC does have basic models that would support airglow modeling, that is, the ionosphere models, but airglow model has not be done at the company previously.
J. V. Eccles reported on the continued successful collaboration of SEC with the Bear Lake Observatory. He presented a written overview of the instruments deployed and contracts supporting the deployment. The overview is summarized here.
Air Force SBIR RIFS Contract: Space Environment Corporation continues to operate scientific instruments at Bear Lake Observatory under the Air Force SBIR Phase 2 contract, "Regional Ionospheric Forecast and Specification" (RIFS). The three instruments are operating and are maintained by SEC's excellent electric engineer, Don Rice. The three instruments deployed in support of the RIFS program are (1) Three-axis fluxgate magnetometer manufactured by Narod Geophysics Ltd., (2) GPS Scintillation monitor designed by Paul Kintner of Cornell University, and (3) Canadian Advanced Digital Ionosonde manufactured by SIL Inc. All three are working without problems with years of data to be examined on the SEC web site. Due to the WWW presence, SEC occasionally gets email inquiries into the purchase of the magnetometer and/or CADI ionosonde. These are forwarded to the manufacturers.
NASA/LWS DDDR Contract: We have deployed a new antenna and HF receiver at BLO in support of the Data-Driven D-Region project funded by NASA/Living With a Star program. A SEC subcontract with RP Consultants supports a second HF monitoring site at Klamath Falls, OR. An additional collaboration with Terry Bullett of AFRL has created a multi-point network of HF monitors.
J. V. Eccles noted that there is interest from entities beyond SEC to purchase a RIFS System of data acquisition and ionospheric modeling as demonstrated by the SBIR RIFS prototype operated at BLO. SEC needs to develop a pricing structure for the package, which would contain (1) instruments (CADI, magnetometer, and GPS scintillations monitor), (2) data acquisition system (hardware and software), and (3) data-driven regional ionospheric modeling package (hardware and software). The officers agreed that the pricing, brochure, and distribution specifics should be looked into this year.
W. J. Raitt agreed to bring his video camera to log the SEC possessions at the SEC corporate headquarters for insurance purposes.
V. B. Wickwar moved and W. J. Raitt seconded to adjourn the meeting at 10:25am.
J. Vincent Eccles, Secretary