Good news! Financials are out, along with a very encouraging investor update letter. As for the financials, I am not astute enough to understand the details; but I am able to understand that the revenues for the 3 mo. period ending January 31 were 241,468 vs. 68,825 for same quarter last year. The loss per share was .008 vs. a loss of .039 for same quarter 1997. That is quite an improvement. However, the update investor letter is really exciting. I do not have a scanner, but for those that are not on a direct mailing list, I shall retype here:
March 26, 1998
Dear Shareholder:
Thank you for your continuing support of Interactive Telesis (ITI). We know you bought shares of ITI because you believed in our services and the company's opportunity for sustained growth and profitability.
The good news is that we are now profitable and realistially have the potential to double our current monthly revenues of approximately $115,000 to over $230,000 in the next six months. The bad news is we are still battling the market makers and as a result, the share price does not yet reflect our current earnings or the rate at which they are increasing.
Initiatives underway include NASDAQ encouraging Intel to utilize InvestorReach. A customized demo for Intel has been up for weeks and we hope to present them with a contract at a meeting on April 3rd.
Apple Computer has indicated they wish to sign their InvestorReach contract as soon as possible. Due to an agreement between the companies, Apple must notify Sprint of their plans to utilize ITI, and that is expected to take place within the next week.
Norwest Financial of Minneapolis has indicated a desire to utilize InvestorReach. They are unhappy with their current comunications provider and we expect to generate approximately $8,000 to $10,000 per month from the provision of services to them.
Our President, Don Cameron, has met with Health Plan of New York on two occasions and they are ready to proceed with a MarketReach application to communicate with approximately 10,000 doctors in their provider network. In addition, MONY - Mutual of New York is "de-mutualizing" their company, meaning policyholders will now become shareholders. This is a lucrative application for ITI because MONY must communicate information about this restructuring with over 800,000 policyholders turned shareholders over the course of the next 18 months.
Another growing area needing our services is in the pre-paid phone card industry. We are expecting to perform a beta test for GTE that would require callers who are activating their phone card to briefly transfer to our system to complete a short questionnaire. They feel the marketing information gained from these surveys will dramatically enhance the promotional value to their corporate clients such as Texaco. Preliminary discussions are also taking place with AT&T who feel this application would be a positive sales tool for them as well as a cost effective way for their clients to generate sales and marketing information.
These are only some of the exciting developments taking place at ITI. We have recently contracted with a respected Investor Relations firm to educate stockbrokers and investors as to what an undervalued situation we represent. A considerable number of shares have been bought out of the market in recent weeks, so we feel the share price will soon reflect this increase in buying which should be fueled by strong corporate news.
We hope you will stay with us and watch us grow. The employees and management of ITI are confident you you will be glad you did.
Please call Greg Stesiak, Larry Batt or myself at 888-546-2957 and we will be happy to update you and answer any questions you may have.
Very truly yours,
Scott Cameron
Director of Investor Relations
**** People: It is very important that you remember the above does not represent actual contracts yet!! These are current developments and considering our track record with companies like AT&T and Lucent, may become realities in the very near future. But until we have them signed, sealed and delivered they are still "potential" deals. Don't want any disappointments because terminology is misunderstood. There are no guarantees, but it sure does look awfully good. |
