To: Heartland, Inc. Shareholders
From: Terry L. Lee, Chairman and C.E.O.
In the most challenging business environment since the “Great Depression” Heartland, Inc. continues to meet its current financial objectives and position itself for future growth. Heartland Inc.’s top line revenue grew to $92,151,381.00 for year end 2009, a 57% increase over 2008’s $39,539,323.00. Our financial results, as well as our other financial disclosures, are available through the SEC website at www.sec.gov (OTCBB:HTLJ). Our Board of Directors and Management Team thank each shareholder for your support over the past year, while challenging our skilled Management Team to continue to produce solid growth and results.
Heartland Steel, Inc., our startup steel service center, located in Washington Court House, Ohio was completed in 2009 and is now fully functional. Managed by Randy Frevert, President/ CEO, Heartland Steel, Inc. represents Heartland’s first venture into the steel service industry. Bolstered by Heartland’s two established and proven profitable subsidiaries, Mound Technologies, Inc. and Lee Oil Company, Inc., Heartland has been able to complete the Heartland Steel, Inc. startup and allow it to grow its market share
in 2010.
In January of this year Heartland completed a 2:1 reverse stock split. This reverse split is Heartland’s initial attempt to increase stock price and possibly open up the opportunity for Heartland to move to a broader traded exchange. I know each of us, as shareholders, want increased share prices and I want to assure you Heartland’s Board of Directors are continually analyzing ways to increase shareholder value as well as its stock price.
In the most challenging business environment since the “Great Depression” Heartland, Inc. continues to meet its current financial objectives and position itself for future growth. Heartland Inc.’s top line revenue grew to $92,151,381.00 for year end 2009, a 57% increase over 2008’s $39,539,323.00. Our financial results, as well as our other financial disclosures, are available through the SEC website at www.sec.gov (OTCBB:HTLJ). Our Board of Directors and Management Team thank each shareholder for your support over the past year, while challenging our skilled Management Team to continue to produce solid growth and results.
Heartland Steel, Inc., our startup steel service center, located in Washington Court House, Ohio was completed in 2009 and is now fully functional. Managed by Randy Frevert, President/ CEO, Heartland Steel, Inc. represents Heartland’s first venture into the steel service industry. Bolstered by Heartland’s two established and proven profitable subsidiaries, Mound Technologies, Inc. and Lee Oil Company, Inc., Heartland has been able to complete the Heartland Steel, Inc. startup and allow it to grow its market share
in 2010.
In January of this year Heartland completed a 2:1 reverse stock split. This reverse split is Heartland’s initial attempt to increase stock price and possibly open up the opportunity for Heartland to move to a broader traded exchange. I know each of us, as shareholders, want increased share prices and I want to assure you Heartland’s Board of Directors are continually analyzing ways to increase shareholder value as well as its stock price.
