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Nov 6, 2019We are a commercial and industrial electrical contractor providing mission critical solutions to companies and government agencies in southern Arizona. We have developed strong strategic alliances with numerous customers and strive to develop and maintain our status as a preferred service provider to each of our customers. Many of our client and owner relationships are in excess of 30 years old and many more are in excess of 10 years old. Of our 15 largest fixed-price contracts in progress, we have provided electrical services to the owner in 12 of these contracts during each of the prior 10 years or more. Similarly, of our five largest clients with whom we have unbilled jobs pursuant to time-and-materials contracts, we have provided electrical services to each of the owners during each of the prior 10 years or more. Our revenue has increased from $8.2 million for the year ended October 31, 2015 to $13.0 million for the year ended October 31, 2018. Our seller’s discretionary earnings and seller’s discretionary earnings margin were $1.95 million and 14.9%, respectively, for the year ended October 31, 2018 compared with $0.9 million and 12.7%, respectively, for the year ended October 31, 2017. Management expects seller’s discretionary earnings to increase to $3 million, or to a seller’s discretionary earnings margin of 24.2%, for the year ended October 31, 2019. Management attributes these margin increases to maintaining fixed expenses at historical levels while gross profit increased primarily due to one large fixed-price contract. We believe our reputation for responsiveness and quality work, local presence, safety leadership and financial strength have resulted in strong relationships with numerous customers and have positioned us to take advantage of future opportunities.

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