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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON?
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To: Jim Johnson who wrote (6324)7/1/1999 2:53:00 AM
From: John S. Baker  Read Replies (1) of 6931
 
Happy to hear that your personal Due Diligence is producing answers you are comfortable with.

One small additional data point....

You said, "Yes, I know they have given a timetable for filing. I just say it is something that I feel must be accomplished as one of the items to move this issue to new and higher ground. Too bad they didn't start a few months earlier, but I am sure they had their reasons."

As I understand the process of applying for fully reporting status, it requires submission of a lengthy form called a Form 10 and a recent fully-audited set of financials.

If that's correct, then the natural time frame for such submission is right after completion of a regularly-scheduled end-of-fiscal-year audit.

To submit at any other time would entail the added expense of doing a special audit for the sole purpose of becoming fully-reporting. I don't think I would support such an additional expense.

So, it really boils down to submit after this (current) FY or submit a full year ago.

FWIW, I remain long on TSIS and anticipate adding to my holdings in the near future ... and I agree that the real profits in TSIS will come for those who hold another 18-24 months. Even so, this is not a risk-free investment. I would not hold more than I personally can afford to lose.

JSb.
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