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Technology Stocks : CSGI ...READY FOR TAKE-OFF!
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To: tech who wrote (1437)12/1/1997 12:03:00 PM
From: Michael Block  Read Replies (2) of 3391
 
Dear Tech:

First I would like to comment on the current Y2K scene in the U.S.

IRA monitors many sources for information on the Y2K industry and the corporate response to solving this problem. The majority of corporations have been delaying issuing contracts to vendors for Y2K remediation. We believe they are working on there 1998 budgets to include the Y2K remediation work. All the experts now believe that the flow of contracts will start in the first quarter of 1998.

Tech, do not under estimate the ability of AGISS to bring in Y2K contracts. I suggest you stay tuned for News releases. The conversion center will be opened when they have a backlog of orders. The company is currently preparing to send some equipment to ConSyGen so that the toolset can be loaded and returned to AGISS. The time it will take to open is approximately 4 weeks. The company is projecting to have a backlog of 10 to 15 million lines of code in the begining of the first quarter of 1998. This is the tip of the iceberg.

The Cognicase order you mentioned is not for $50 million. I suggest you ask them for definitive numbers. They have in our opinion overstated the size of the contract.

The Canadian Government has recently changed the way in which these announcements will be released. Each department will be responsible for its own announcement. The Department of Defense has started to announce several contract awards. They are not finished making announcements yet. Don't count AGISS out.

As far as IRA and ConSyGen is concerned, we do not currently represent them. We did however complete a $5.2 million dollar private placement by introducing the company to the investor.

I hope this has been helpful.

Michael Block
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