Richard and Edge, Below is a summary of my conversation with the IR lady at TEAL last week.
First, due to the nature of the multiple lawsuits, the company is cautious of what it can say and/or disclose. The company has not provided guidance to WS with regarding future quarterly performance. The company does expect to report a loss for Q3 (also stated in company release). The company felt that the Nov 19 Dow Jones article (posted here last week, please review if you haven't) was fair. According to the article, the CEO will, in early Dec, disclose a new plan to restart the business and possibly provide WS with guidance.
Management was stymified and surprised that several deals being pursued at the end of last Q did not close. She would not comment on whether those deals have been closed since then. But she would say this, in the past the company has experienced delay in contract closing but never lost any deal as a result of the delay.
All employees own shares of the company. According to the IR lady, morale remains good, employees are calm and carry on their duties as usual. No mass exodus of employees has occurred.
The board of directors had no intention of buying back shares.
Goverment customers include NASA, IRS, DOD, Navy, etc.
She would not comment on the issue of potential uncollectible (> 2 Mil, as I recall) from a goverment reseller.
Company was at Comdex last month, at the NCD booth, show casing its Java product. Company is keeping low profile on its SoftNC (partner with IBM) mainly because Java is moving slowly.
There have been few orders of WinTed2.1 downloaded from the Web. But revenues from direct download is insignificant (as we know). The main goal of making WinTed 2.1 available on the Web is to cultivate awareness of the product.
New products are being developed, haven't been announced.
Insider owns about 20-30% of outstanding shares.
That's about it. As I said, nothing major to report. I asked to speak to the CEO several times last week. Everytime he and other senior officers were in meetings. It seems they are working diligently, just hope their efforts will bear fruits.
Regards,
Tom |
