It's Late Night with sga....."(SEXI) $1.95 and traded on the OTC Bulletin Board......Systems of Excellence made a solid step forward with yesterday's announcement that the company's accounting firm had completed their audit. Considering the recent debacle with MH Meyerson, this announcement could not have come at a more opportune time. SEXI's status as a reporting company is solid evidence that the company is progressing towards their goal of becoming an aggressive growth company. We maintain our strong buy stance and eagerly await contract announcements. Our sources continue to feel that a signifigant purchase order is imminent. It is no secret that the success of this company is soley based on management's ability to secure purchase orders in a reasonable period of time! After conducting extensive due dilligence with several face-to-face meetings, we are convinced that Systems of Excellence's video confrencing equipment is as good if not better than other products currently on the market. Keep in mind, CFON shares reversed momentum and traded fron $2 1/2 to over $5 per share on a mere $850,000 purchase order. What will happen when Systems of Excellence closes on a multi-million dollar purchase order? Yesterday, SEXI announced that it has filed it's latest 10K and it's first quarter 10Q with the Securities and Exchange Commission, and has been receipted for those documents. Systems of Excellence is now current on all financial filings and the company expects to file it's second quarter before the due date, October 15, 1996. For the year ended February 29, 1996, SYSTEMS reported a loss of $0.47 per share calculated on a weighted average per share balance of 11,759,554 shares. At the end of the fiscal year, there were 44,490,505 shares issued and outstanding. For the first quarter ended May 31,1996, SYSTEMS reported a loss of $0.07 cents per share. "Instead of the two week delay we anticipated, the audit is now behind us, "said Charles O. Huttoe, Systems chairman and CEO. "Thanks in large measure to the hard workand dedication of our group, we can now move forward with making our business plan a reality. The reported losses are the result of signifigant expenditures made to take the video confrencing technology from start up to sucessful enterprise. With those start up costs behind us," continued Huttoe, "and the sales, marketing, manufacture and distribution of our video confrencing technology in full swing, we expect to report significant revenue for our fiscal year ending February 28,1997."
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