MIKKELSEN CUTTING TOOLS

Mikkelsen Cutting Tools, our second investment, designs state of the art digital printing, cutting machine tools. WSAF invested $400,000 tin Equity growth financing and attracted MEDC to provide $300,000 in a 4 year loan to MCT. MCT has these machine tools manufactured for them under contract arrangements with a UK and US manufacturer. They currently market two machines designs and recently introduced a third machine tool with “cutting edge” vision technology. This newly developed mach... ine tool was a huge hit at the SGIA (Specialty Graphic Imaging Association) Show in Orlando, October 23-25. MCT won three orders for machines at the show at prices north of $150,000. It expects to land a total of five to seven from show leads. It also sold two more machines through a new representative in Canada and will show its new machine at the Canada Graphics Show in November. Combined with the sale of cutting parts, the company already has a run rate of more than $3 million in annual sales and is cash flow positive.

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