CMRC -- Transaction Revenue On The Way Message Board

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Technology Stocks : CMRC -- Transaction Revenue On The Way

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To: Logain Ablar who wrote (20)	6/7/2002 4:35:00 PM
From: Gone to Money Heaven	of 22

Re network services fees, now see change in CMRC expectations for them in 10K for 2001 vs. 10K for 2000. Item 7. Management discussion and analysis of Financial Condition and results of Operations 2000 - Revenues from transactions and subscription fees have not been a significant portion of total services revenues to date. (same statement in both reports) However, our revenue growth in the future will depend upon realizing significant revenues from these sources. (This statement in 2000 report and omitted from 2001 report) New statement in 2001 report under Item 7 - Revenue recognition "Network service fees (transaction fees, hosting fees and revenue sharing), have not been significant and are not expected to be material in the future." Thus, it appears that there may not be substantial network services fees as earlier intended. Also note lack of clarifying, such as using "the near future". Perhaps the agreements have been rewritten with public marketplaces other than Covisint and NTT. Just speculation at this point but the 10K statements are quite explicit. Sure wish the industry analysts would probe this topic in a future earnings conference.

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