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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)

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To: C.K. Houston who wrote (19848)	6/30/1998 9:33:00 PM
From: CalculatedRisk	Read Replies (1) of 31646

Cheryl, perhaps you would like to comment on: 1) the increase in "doubtful accounts" of $977,000 last quarter? 2) the substantial increase in A/R last quarter? With regards to the statement from Mr. Kelsall, he is mostly correct. However, if TAVA continues to have significant increases in their "doubtful accounts" and A/R, GAAP requires that they stop the business practice that leads to these increases. In TAVA's case, this appears to be the booking of revenue on a percent completion basis without billing for the work. Check with Mr. Kelsall, he will confirm this. Also - instead of repeating the Company line - consider the facts! TAVA reported a gain of $301K, but their cash (excluding financing) declined by over $3.4 Million!!! This is called "aggressive accounting", it appears perfectly legal but the details indicate that TAVA is a Company in serious trouble. Regards, Bill

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