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

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To: Jeffrey S. Mitchell who wrote (253)	4/7/1997 5:24:00 PM
From: Tom Menk	of 10786

Jeff, Thanks for the note. I understand the game plan, but it still does not make sense. The 1996 revenues are less than 1995! I would think they would have had a million or two to bill. Is it possible they are holding back billing the test projects until 1997? Also, when I first got involved with ALYD back in the $1.50 days <G>, I was told by Gruder and others that this was not a labor intensive operation. This can't be all "training" time. Either there is a tremendous amount of billable work being done (we will be pleasantly surprised later), or it is VERY labor intensive. Any opinion? Regardless, you cannot have the $1.50 shares <GG>. I am holding for at least $50, if not $100 <G> Tom

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