History of Olympic Printer Resources, Inc.

For the last 10 years, Olympic Printer Resources, Inc. has been helping Puget Sound region businesses and families save money while protecting the environment through sensible recycling of laser and ink jet printer, fax machine, and copier cartridges. The company saves their clients 25%-50% on replacement cartridges compared to discount stores (i.e. Office Depot, Staples, etc). Plus there is the added benefit that they provide free next day delivery anywhere in the Puget Sound region (with a minimum $50.00 order). They pickup and take away expended cartridges for recycling. Olympic Printer Resources, Inc. guarantees 100% that their remanufactured products have the same print quality and capacity as Original Equipment Manufacturer (OEM) cartridges. They also provide OEM cartridges and generic products at a discount. The company also provides full service support for most printers, fax machines, and personal copiers. They are a Brother Authorized Service Center.

Olympic Printer Resources, Inc. started as a part time endeavor by Peter F. DeBoer in the basement of his home in Kingston, Washington. Pete was an associate broker and real estate agent with Spot Realty in Poulsbo. In October 1993 he attended a week long course at Laser Products Consultants in Bellevue on the principles of laser printer technology, toner cartridge remanufacturing, and printer repair. He finished the class with one remanufactured cartridge in his possession. On October 15, 1993 walked into a Poulsbo accounting firm that used to do work for his father. They purchased this one and only cartridge and gave him three empties to recycle. Pete reworked them that evening and sold them the next day. By the end of that week he had remanufactured and sold twenty laser toner cartridges. Olympic Laser Services was born. Interestingly, that accounting firm that purchased the first cartridge is now the Olympic Printer Resources, Inc. accountant. Within a year and a half, sales had increased to a level that Pete left real estate and worked Olympic Laser Services as his full time occupation.

In March 1998 the operation of Olympic Laser Services had outgrown the basement of PeteÍs home so he leased the space of a former floor coverings store in the lower level of the Bradley Center in Kingston. The company has been located in this approximately 1,400 square foot area since then.

In the fall of 1999 Harry Jeffrey Petersen became interested in the company. In December 1999 Jeff purchased 49% of the company and started a business partnership with Pete. Jeff assumed the responsibilities of Business Manager and Sales Manager while PeteÍs responsibilities were as Production Manager and Service Manager.

With increasing sales, they hired Raymond Thompson, a retired Navy Machinist Mate, in February 2000 as a cartridge remanufacturing technician. In March of that year they incorporated the company as Olympic Printer Resources, Inc. By September 2000, sales had increased such that a full time Customer Service Representative was hired to handle incoming orders and service calls.

Responsibility for product delivery was being shared between the business partners and the Customer Service Representative. However, with the continued sales growth a full time delivery driver was hired in September 2001 to support delivery of products within the Puget Sound Region. Also that month the company website came on line at www.olyprinter.com. The company commenced receiving orders from all over the United States from shoppers surfing the Web.Responsibility for product delivery was being shared between the business partners and the Customer Service Representative. However, with the continued sales growth a full time delivery driver was hired in September 2001 to support delivery of products within the Puget Sound Region. Also that month the company website came on line at www.olyprinter.com. The company commenced receiving orders from all over the United States from shoppers surfing the Web.

In September 2002, another junior technician was hired for testing of printer cartridges and in shop repair of printers. This improved the efficiency of operations by allowing the cartridge remanufacturing technician to focus only on production and increase the number of cartridges made daily. It also reduced the turnaround time for equipment repairs. Now one technician was dedicated to repairs in the field and one to handle drop in repairs on-site.

In February 2003 the storage within the facility became overcrowded and the company was forced to rent a 300 square foot storage unit. This unit is used to store excess printers, faxes, and copiers that are used for parts cannibalization and excess toner cartridges staged for sale to cartridge vendors.

On July 1, 2003, Olympic Printer Resources, Inc. purchased a competitor cartridge remanufacturing company, Laser Green, Inc. of Port Townsend. This provided a sharp increase in clients in Jefferson and Clallam Counties and has contributed to 11% of company sales since July 1st.

In October 2003 the company reorganized personnel assignments. Jeff Petersen turned over most of the Business Manager functions to the former Customer Service Representative, Erik Petersen, as the new Operations Manager. This significantly freed up Jeff to focus more on finding additional customers and increasing sales.

In December 2003 an additional production worker was hired to keep up with the demand for our cartridges. Additionally a part time Customer Service Representative was hired to deal with the increased number of phone calls for sales and service.

Future Business Goals

The attached chart illustrates the sales growth of Olympic Printer Resources, Inc. from 1999 to 2003. The company has a solid base of over 2,500 customers in Western Washington, primarily in Kitsap, Mason and Jefferson Counties. The focus of the company is to continue to grow by targeted expansion in Clallam County in the towns of Port Angeles and Sequim, and King and Pierce Counties along the Interstate 5 corridor between Edmonds to Lakewood. The target customers of the company are small to medium sized business offices that use laser printers, faxes and small personal copiers.

Principal Career History

Peter F. DeBoer
President, Olympic Printer Resources, Inc.

Peter F. DeBoer was born Seattle Washington March 3, 1946. He graduated from Bellevue High School and following graduation, enlisted in the U.S. Coast Guard (November 1964). Pete served on ships, overseas stations and stateside clinics as a Hospital Corpsman until 1974. In June 1974, he was commissioned as a line officer and began service as Deck Officer on Coast Guard Cutter Boutwell. His duties included division officer assignments as Navigator, Combat Information Officer and Fisheries Enforcement Boarding officer. From 1977 to 1979 he served as the Assistant Training and Readiness Officer at Thirteenth District Headquarters in Seattle, Washington. Duties included coordination of training for all ships, boats and stations in Washington and Oregon. He was responsible for the operation of the District Armory and all weapons training in the district. He also served on the GSA Region 10 emergency relocation and disaster recovery committees and was a trusted agent of the 21st North American Air Defense (NORAD) System located at McChord AFB, Tacoma.

In July 1979, he was selected as Commanding Officer for Coast Guard Loran Station Sylt, Germany. There he managed a remote foreign station with twenty-five servicemen assigned. He also managed seven family housing units for the assigned married crew members. The station produced a hyperbolic timed electronic signal used by ships and aircraft to determine navigational positions around the world. The budget for operating this facility was about $4 million per year.

Returning to the states in 1981, he was assigned to the newly commissioned ship, U.S. Coast Guard Cutter Escape in Charleston SC as Operations Officer. Pete was eventually fleeted up to Executive Officer on this ship. During his tour he was involved in twenty-seven drug interdiction patrols in the Gulf of Mexico and The Caribbean Sea. During these patrols, they seized tons of contraband products headed for the U.S. shores. They also actively participated in many joint operations with other branches of U.S. and foreign governments including fugitive roundup operations and training of foreign law enforcement specialists as to the proper diplomatic techniques used to accomplish enforceable searches and seizures of contraband.

In July 1984 Pete was assigned to as the Chief of Patient Affairs for the Surgeon General of the Coast Guard. In this capacity, he served as the Coast GuardÍs medical administration liaison to the Department of Defense and was the Congressional Affairs Representative for medical matters dealing with the Coast Guard. A year later Pete decided to retire from the Coast Guard.

Upon retiring from the Coast Guard, Pete moved to Florida. He attended Daytona Beach Community College and the University of Florida for several semesters focusing on studies in business and marketing. He became involved in the real estate industry in 1986 and in his first year had sold nearly $1.3M in property. In 1987 he moved to Kingston and spent one year building a home at 24545 Taree Beach Drive. In March 1988 he resumed his real estate career with Spot Realty in Poulsbo. For the next eight years, I worked as an agent and eventually an Associate Broker / Office Manager for Spot Realty which eventually affiliated with the Prudential Real Estate. His average annual real estate sales were approximately $3M.

In 1992, Pete was tiring of the real estate industry and felt that at the end of such a career, there would be no tangible assets to offer to a potential buyer. So he started looking for something else to do. On advice of a close personal friend, he looked into the relatively new industry of refilling laser printer cartridges. After several months of evaluation, Pete enrolled in a week long training course offered by Laser Products Consultants in Bellevue, Washington. He finished the class and with one remanufactured cartridge in his possession. On October 15, 1993 walked into a Poulsbo accounting firm that used to do work for his father. They purchased his one and only cartridge and gave him three empties to recycle. Pete reworked them that evening and sold them the next day. By the end of that week he had remanufactured and sold twenty laser toner cartridges. Olympic Laser Services was born. Interestingly, that accounting firm that purchased his first cartridge is now the Olympic Printer Resources, Inc. accountant.

Pete continued working as a part-time real estate profession for another eighteen months until 1995 when he started operating Olympic Laser Services (sole proprietorship) as his primary occupation. The entire operation was a one man entity and Pete did all of the supply ordering, manufacturing, record keeping, service work and deliveries on his own out of the basement of his home on Taree Drive in south Kingston.

In the spring of 1998, the operation had finally outgrown the confines of his basement and Pete moved to the operation into leased space in the Bradley Center in downtown Kingston. In the fall of 1999, Jeff Petersen approached Pete with the proposal of incorporating and becoming a partner in the business. In December, they consummated an agreement and incorporated the business with Pete holding 51 percent of the business and Jeff owing the balance. In March 2000, they changed the name of the company to Olympic Printer Resources Inc. and have operated under that corporate name since.

Additionally, Pete is very active in the community of Kingston. He has served as president of the Greater Kingston Kiwanis, Commodore of the Kingston Cove Yacht Club and currently serves on the board of directors of the Greater Kingston Chamber of Commerce. He is also the sitting president of the Greater Kingston Kiwanis Foundation which awards annual scholarships to local graduating students. In November 2003, he was elected Port Commissioner, Position 2 for the Port of Kingston.

Harry Jeffrey Petersen
Vice President, Olympic Printer Resources, Inc.

Harry Jeffrey Petersen (Jeff) has an extensive experience in leadership, sales and business growth. Jeff grew up in Western Washington. He was born in Kirkland, WA, on May 12, 1952. He attended the United States Naval Academy in Annapolis, Maryland and graduated with a Bachelor of Science degree in June 1974. He was commissioned as an Ensign in the United States Navy and underwent Nuclear Propulsion and Submarine Warfare Training. He served on the USS Patrick Henry (SSBN 599) in various division officer assignments for a nuclear reactor refueling overhaul and 4 strategic deterrent patrols. His next assignment was as Navigator/Operations Officer on the USS Tunny (SSN 682) where he made two extended deployments to the Western Pacific. He came to shore duty at the Trident Training Facility at NSB Bangor where he served a tour split between Director of the Engineering Training Department and Director of the Combat Systems Team Training Departments. He then transferred to the staff of Commander Submarine Group Nine at NSB Bangor where he performed security audits and inspections prior to separating from the Navy in June 1986.

Jeff took a position as a Senior Engineer with Vitro Corporation in support of the Technical Services Contract at the Naval Undersea Warfare Center Detachment Keyport. He provided engineering, logistics, management and financial planning services in support of the MK 46 and MK 50 Torpedo In-Service Engineering Agents (ISEA). Within a year he was selected as a management supervisor for a section of seven individuals providing contractual support. He grew his support team to 55 people over the next 6 years booking over $2.2M annually in engineering and logistic support contracts. He consistently exceeding marketing and performance goals because of superior customer satisfaction and demonstrated ability to get the job done.

In October 1993, Jeff left Vitro Corporation and became a licensed real estate agent in partnership with his wife at John L. Scott Real Estate in Silverdale. He setup an automated a standardized systems for prospecting for new customers and tracking the status listed properties and sales transactions. The overall result was simplified operations, higher customer satisfaction, increased sales and reduced operating costs. In 1999 the pair was the top selling sales team for John L. Scott in the West Sound area having sold 112 properties and received gross commissions in excess of $519,000.

In December 1999, Jeff purchased a 49% share of Olympic Laser Services from founder Pete DeBoer. He assumed the responsibilities of Business Manager and Sales Manager. He has directed the growth of the company from $112,801 annual sales in 1999 to $564,845 in 2003. The company has grown from the two owners to seven full-time/one part-time employees that service over 2600 customers primarily in Kitsap, Jefferson, Clallam, Mason, Thurston, Pierce, King and Snohomish Counties.

Jeff is also involved in the Greater Kingston Kiwanis Club as Vice President and is a board member of the Kingston Kiwanis Scholarship Foundation.