Ounalashka Corp - The Eider Pointer Newsletter_September2019 | Page 3

MESSAGE
FROM THE CEO
Dear Shareholders,
Summer is wrapping up in Unalaska, and many
shareholders are getting outside for final trips
to camp, fish and enjoy the sunshine. We had a
wonderful 4th of July weekend and parade, and
OC once again had a float this year; it was a
reminder to me how important our community
is – both here in Unalaska as well as shareholders
around the country.
We value our shareholders’ input, and recently had
a chance to hear some of those insights first hand
at the first Shareholder Committee meeting. There
is more detail later in this newsletter, but I am
proud of the work done and excited to see what
we can accomplish together!
There is other news to share: CFO Rick Miller will
be stepping back from his duties as Controller and
helping train a new individual for that role – Allie
Smith. Rick will continue to oversee special projects
as needed, but I wish him the best of luck and
offer my sincere gratitude for all he has done for
OC over the past years. We also welcome Natalie
Cole as Legal Counsel and Luke Shaishnikoff to our
maintenance team.
We have also had positive movement in our
investments and real estate portfolios. A new fish
oil company will soon begin building on one of our
properties, and we continue with renovations and
improvements on other assets. Additionally, there
are interesting opportunities being examined, and
we will share more as those come together.
One change that will affect the way we report on
our financial success is an update to GAAP, which
governs how corporations present their data. You
can read a more detailed summary of the changes
in these pages, as we want you to understand the
financial statements we prepare, but ultimately,
the most valuable number – shareholder equity
– is unchanged. We have been aware of the new
regulation for some time, and preparing for it, so if
you have questions please reach out.
I hope you enjoy your Fall – and if you are here in
Unalaska, take advantage of OC’s beautiful lands!
This is a season to harvest and prepare for the
future, and you can be sure we are doing the same
at your corporation’s headquarters.
Have a safe and pleasant season,
Christopher P. Salts Sr.
CEO
OC’S SEPTEMBER 2019 NEWSLETTER 3