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Technology Stocks : TouchStone S/W (TSSW)
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To: Daniel Colton who wrote (3331)9/28/2000 11:33:35 PM
From: jonj1   of 3627
 
This is the response I received from tssw.

What you have said about the Partsbase and the Entertainment Blvd. investments is true. The market in general certainly has not cooperated with TSSW -- in terms of its investments and its own share price.

Nonetheless, it has a good cash position (about $1.8 million at last reporting) and very little if any burn rate. So, the company can survive a long time even if it cannot liquidate its investments as planned. They need to liquidate at a profit in order to rejuvenate its investment reserves and make additional profitable investments. That's the business model. In a down market (which we have had since mid-April) it is very difficult to operate (see CMGI, VerticalNet, Safeguard) and other incubators -- all of them are doing poorly since April. So it's no surprise that TSSW is down.

As for news -- there just isn't much to say. They sold their retail division which sliced their burn rate (and revenues) down to nothing, but they don't have funds to make additional investments. It might not be wise to do so anyway. Pierre Narath (CEO) has taken over a interim CEO of EBLD also. This is in an attempt to remain close to that investment and give the greatest chance to thrive. They have incredible content but have had difficulty creating revenue. Mr. Narath is working to turn that around and make good on TSSW's investment.

Shannon Squyres
Market Pathways
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