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Technology Stocks : Information Architects (IARC): E-Commerce & EIP

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To: Rich Dee who wrote (250)	4/6/1997 4:13:00 PM
From: Tom Menk	of 10786

The report from 1996 is hard to comprehend. How can they only have revenues of $188,000, when they began to have a big hiring program in the middle of 1996? Are they doing work for nothing? If so, why has this been necessary? I thought they had tons of business to get, so why do it for free? I asked this of the new investor relations person and was not satisfied with the answer. I heard this was time of "training". Are 50, 100 or so employees in months of training? Does anyone have a reasonable answer? I have been a shareholder since the $1.50 days and had hoped by now that they would be doing much better. The $22 million contract is great, but where are the revenues for the other work they are doing? Any ideas? Tom

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