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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Steve Rubakh who wrote (5770)11/10/1997 8:46:00 PM
From: David  Read Replies (1) of 31646
 
The following article appeared in Accounting Post (a VERY interesting journal in Hongkong ??):

UK: 2000 bug warning

The Institute of Chartered Accountants of England and Wales issued a warning to finance directors that their company accounts could be qualified if financial statements do not reflect the impact of the "millenium bug" adequately. In extreme cases, auditors could put a "going concern" question over a company.
Mike Barkham, Chairman of ICAEW's multi-disciplinary party, said directors need to do more analysis to find out where they stand in relation to Year 2000 issues.
"There's a huge amount of awareness but very little action," Barkham said.
He said finance directors needed to ask themselves how the Year 2000 affected their business, and what that might mean for their financial statements. "Directors are going to face a lot of tough questions about this," he said.

Sounds like there is plenty of recognition of the problem worldwide - do TPRO have any international sales efforts, or are they concentrating on their home turf first ? (If so, I think we should all steer clear of non-US mechanised manufacture for the next five years !).
If I were in TPRO's shoes I would contact all of the Accountancy institues worldwide, as well as the audit firms themselves and explain exactly what impact the embedded chip problem can have on manufacturing and then exactly how TPRO can solve the problem. As someone said in an earlier post, the executives who should be made to listen are the Finance guys as they are the ones who will see the bottom line impact and also the ones who will control the budgets. The people who will make them listen are the regulators (Institutes; SEC;SFC in Hongkong etc etc) and the auditors.

David
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