Dear MTNT Shareholders,
Welcome to 2021! We hope you and your loved ones are staying safe and healthy as we march forward into the new year.
I am delighted to report that, as normal, it is a busy time of year here at MTNT. While the pandemic has presented obstacles, it has not hindered the dedication and support of the MTNT team and Board of Directors.
Until the audit is complete and the Independent Auditor’s Report is issued, it is too early to report MTNT’s 2020 financial results. Nevertheless, we anticipate being able to announce that MTNT achieved more than $1M in net profit for 2020. This is incredible considering the economic impact COVID has had and continues to unfold. Yet, it is not surprising because MTNT’s employees are talented, dedicated, and resilient.
Our team continues to produce results and power MTNT’s growth. For example, McGrath Light & Power’s (MLP) new power plant building is fully constructed and houses its four new, fuel-efficient generators. More excitingly, it is currently feeding power into the grid in McGrath and MTNT anticipates the new power plant to be fully commissioned before the end of this month. We are truly grateful for the U.S. Department of Agriculture awarding MTNT the High Energy Cost Grant that funded the majority of this project in order to offset the high energy costs of our remote community. However, commissioning of the new power plant is a direct reflection of MTNT’s leadership and a result of MLP General Manager Timothy Barnum’s commitment, expertise, and ability to move this important project into fruition during this unprecedented time. As we know well, this was no small feat as just delivering supplies even during normal times to the community of McGrath is challenging since it is remote and only accessible by air, barge, dog sleds, and snow machines.
As MTNT continues to meet challenges and embrace the new norms we have become accustomed to this past year, MTNT remains committed to delivering economic benefits to our Shareholders and their descendants. As a result, MTNT continues to expand its portfolio of services and geographic footprint. Building on the past performance of MTNT IT & Communications, LLC and General Manager Kelly McAndrew, MTNT recently established a new 8(a) company (MTNT Intelligence Solutions, LLC) to fill a specialized niche in government services by providing high-quality intelligence, technical and specialized training support services to our customers. In addition, MTNT Construction, LLC opened an office in Kansas and MTNT Custodial Services, LLC (d/b/a MTNT Services) opened an office in Texas. These are in addition to our Bona Fide offices in Alaska, Georgia, and North Carolina.
Building on MTNT’s foundation and expanding our operations directly increases MTNT’s business opportunities which in turn increases opportunities for MTNT’s Shareholders and their descendants through scholarships and employment opportunities. We have several career opportunities in Alaska and throughout the Nation. We encourage you to continue to visit MTNT’s website for current job vacancies and upcoming opportunities. In addition, MTNT’s Summer Scholarship deadline is quickly approaching (March 15) and applications can be downloaded from MTNT’s website at www.MTNT.net.
As MTNT continues to march forward with realistic optimism, we would like to take a moment to acknowledge you, our Shareholders. Because of our Elders’ foresight to consolidate McGrath, Takotna, Nikolai, and Telida into one Alaska Native Village Corporation in 1976, MTNT will celebrate its 45th Anniversary this November. Without your continued support, wisdom, and contributions throughout the past four and a half decades, MTNT would not be as strong, prosperous, and resilient today as we are now. Thank you!
In closing, we hope that you, your loved ones, and your communities are blessed during this new season of opportunity.
Chief Executive Officer