"What this company really
needs is to do the necessary filing to become full reporting, quit selling additional
shares and hire a good PR firm to get the general public to take notice. Can anyone
say for sure any of these are being done?
"
1. The company has announced a time table for becoming fully reporting, which includes initial submission of paperwork to the SEC upon completion of the US GAAP audit for the FY ending July 31, 1999. Once submitted (perhaps in October or November?), the time frame for *acceptance* by the SEC depends upon how well they did their initial submission and how many follow-on questions the SEC may have.
2. The company is precluded from selling any additional shares until the next Annual General Meeting. IMHO, it is not unreasonable to expect this prohibition might be renewed at that point, but perhaps more to the point, if the company is operating profitably at that point, there is no real need to sell shares in order to pay the bills.
3. If you mean *Investor* Relations to make sure that analysts and institutional investors are properly informed about the merits of TSIS, a conscious management decision has been made to hold off on that expense until after the application for filly-reporting status has been approved by the SEC. The feeling is, I think, that it is better to hold off on this expenditure until there is something real to talk about and to keep one's powder dry, so to speak, until then. Also, once reporting status is reached, the universe of possible investors increases significantly.
3 1/2. If however you mean a boiler room operation to hype the stock ... as in pump and dump ... I believe that management is not considering such a step, and I for one am pleased.
Source for most of this is conference call back in May ... detailed notes regarding that call are in several messages beginning with #5977: Message 9650116
JSb |
