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Technology Stocks : SSA (SSAX) BPCS/Client Server
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To: James B. Barnes who wrote (382)1/1/1998 9:29:00 AM
From: MAURICE J. SADOWSKY  Read Replies (1) of 915
 
Does anyone know the status of BPCS 7.0--Value Line stated in their report of December 05, 1997 that the upgraded version of 6.0 "is expected to be released by the end of 1997."

I bought back in two days ago and have followed the company closely for years--got out when it was obvious that corporate policy and Press releases to the public did not come close to a prudent reality check. It will be a long time before I believe either Skadra or Covey (even with his 30% stake)--nevertheless, recent refinancing of debt, a year and a half of fixes on 6.0, lead me to believe the product and the company will survie--with a price to sales ratio of less than 1 and the potential for improving margins to somewhere close to previous levels--prior to getting into the ERP market margins were about 12%--I'd be happy with 10% which should bring earnins back to about $1.00 per share and close to the level several years back. Well, according to my guess, the company has spent close to $500 million getting BPCS 6.0 off the ground with no return--I hope this is the time for them to look to investor interests. Since, as I stated, Covey and Skadra are not to be trusted--I put my faith in the OWNERS OF THE PREFERRED STOCK. Only if SSAX produces a profit consistant to that of past years will the conversion rate of pay off. Each note($1000) can be converted to 55.378 shares @ a conversion price of $18.06.

That tell me that some promises have been made and the company has three years of protection to meet the goal.
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