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Microcap & Penny Stocks : IMGX, currently $3.50

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Oct 28 4:00 PM EDT

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To: John Morelli who wrote (603)	2/19/1998 8:48:00 PM
From: Jay Morrison	Read Replies (4) of 665

There was really nothing surprising or special about the conference call. They just talked about some of their customers and the changes made for 1997 cleaning up the balance sheet. Breakeven is at $9.5 million in revenue. They just had their best quarter ever in Q4 and Q1 is traditionally the slowest quarter for most software companies. Leto would be happy with Q1 being another $7.5 million. They are bringing out 8 new product lines in May at the AIM conference. Sybase is going slow. Small contracts only to date. However, there is one big proposal (no name given) that could close in May 1998 that would mean multi-millions in size to Network Imaging. He did not indicate the chance of it closing. They spoke a bit about market size and the potential. Ford has been using their license much more than the original contract called for. They are currently negotiating how much Network Imaging will be paid for the expansion of the Ford license. The $1.8 million contract from the defense department was kind of weird. It was top secret. They were paid in cash and the government refused to tell Network Imaging how they are using the software. Leto speculated that the software that was purchased would be ideal for satellite imaging applications. The American Express deal was worth $500,000 and was for 1 of 9 data centers. The one used was the smallest of the 9 data centers. Now that 1View has been accepted in the AMEX system, IMGX can make additional sales throughout the company. Potential is around $5 million plus. If you have any questions, post them. Maybe it will trigger my memory on whether or not it was discussed. Jay

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