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Stockholder's
Information:
AdaRose Inc.
is an employee-owned small business and as such, all employees are stock holders.
Check here for periodic updates of AdaRose stockholders' meetings, agendas,
and other stockholders information. AdaRose holds 8th Annual Stockholders' Meeting: The meeting was held on November 20, 2008 at the Lexington lab.
AdaRose
revenues for 2008 showed an increase over 2007. This was due primarily
to subcontract work we obtained from a major defense contractor
for developing software for their ruggedized computer.
AdaRose
was awarded a five year, $29 Million, Omnibus contract with five other
contractors from the U.S. Army Joint Munitions & Lethality Life
Cycle Management Command.
We received our first Task Order on this contract valued at $582,000 for a 12 month period.
AdaRose
was selected as a team mate to a major defense contractor to pursue
contract work for a major security system. We were selected for
our past expertise on the Tactical Automated Security System (TASS)
We
announced a dividend payment to our stockholders, payable on 15 January
2009. This is the fourth year that AdaRose has provided dividend checks
to our employees/ stockholders.
We remain a debt free company
and our highly experienced engineers and low operating costs continue
to give the company a competitive edge.
George Holt, President/CEOAdaRose
adopts new Stock Incentive Plan:
Effective
August 31, 2005, AdaRose has initiated a new Stock
Incentive Plan for Empoyees of the Company. The Plan is intended to enhance
the Company's ability to attract and retain highly qualified officers, directors,
key employees, and other persons, and to motivate such officers, directors,
key employees, and other persons to serve the Company and to expend maximum
effort to improve the business results and earnings of the Company, by providing
to such persons an opportunity to acquire or increase a direct proprietary interest
in the operations and future success of the Company.
AdaRose holds 6th Annual Stockholders' Meeting:
Meeting was held on 13 December 2006 at the Lexington MA Laboratory.
AdaRose
remains a debt free company and our highly experienced engineers and
low operating costs continue to give the company a competitive edge.
Our
long standing subcontract with Northrop Grumman (NG) has been
completed. Over the life of this contract we successfully completed ten
task orders and NG awarded AdaRose a Letter of Recognition for our
outstanding work.
2006
has seen some success in our marketing initiatives. Most notably we
gained positions as subcontractors on the VETS GWAC multi-billion
dollar contract. Three out of the six primes we teamed with won awards.
However,
we were unable to initially gain a prime contract at Picatinny for the
ASEC procurement. We protested and the Army conceded that there were
numerous protest issues regarding the solicitation, most notably that
the contracting officer's decision to exclude AdaRose Inc. from award
consideration was inconsistent with the published evaluation criteria,
that the Government incorrectly rated AdaRose's past performance as
neutral, and that the Government failed to reveal the seriousness of
identified weaknesses during discussions. The Army further determined
that it was in the best interest of the government to take immediate
corrective action in light of our protest. They intended: 1) to
overturn the contracting officer's source selection decision document;
2) to amend the solicitation to address the grounds of the protest; 3)
to request that the offerors submit revised proposals; and 4) to
reevaluate those proposals."
George Holt, President/CEO
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