Good response from TAVA as per YAHOO thread:
Something All Here Should
See, This E Mail From
Jenkins
burntpockets
Sep 2 1998
1:11PM EDT
I sent E mail last nite to TAVA. They responded today. Here it is:
I appreciate your input. Let me offer some response:
1) Earnings are not "late". This is our financial year close that
obviously requires an audit process. As we are not yet on a common
financial system (we are now installing Oracle to remedy that issue) the
audit process involves physical audits of our four major operating sites.
We have said all along that we expected to release earnings in mid-September
and still expect to do so.
2) Re "news". As we have previously noted, it is getting more and more
difficult for us to get new clients to allow us to use their name in any
external publication. As the awareness of the Y2k issue at the embedded
system level has increased, so has the concern by our client base that they
may have made prior statements about their Y2k readiness that are now not
sound. As a result, their legal advice is to shut down communication on the
topic.
Also, as our business has grown, our definition of
materiality has changed. In the early days of Y2k, any new order was
"material", today, after millions of dollars of Y2k business, we must apply
a different definition.
3) In closing I can simply say that our business opportunities continue
to grow daily, not only in Y2k but in many other new areas for the company.
We appreciate your loyalty in the midst of all this general market pressure
and can assure you that the management team here is absolutely dedicated to
producing increased shareholder value in TAVA.
-----Original Message-----
From: Kurt Schmidt
Sent: Wednesday, September 02, 1998 7:37 AM
To: Scott Liolios (E-mail)
Cc: John Jenkins; Doug Kelsall; Kevin Fallon; Larry Hagewood;
Donna Key
Subject: FW: Share Holder
-----Original Message-----
From: Joe Stewart [SMTP:compstar@superlink.net]
Sent: Tuesday, September 01, 1998 8:21 PM
To: info@tavatech.com
Subject: Share Holder
This note is directed to all those concerned at TAVA. As a
shareholder and an active member of several message boards I can tell you
that investor sentiment is at a low.There has been no news in over a month
to help support this stocks valuation. I personally have lost almost 20K in
the past month or so. I know investors who have bailed out completely, and
others talking about it. While I feel like I have been fighting TAVA's
battle on the bulletin boards, supplying all insight that I can, I have got
to tell you that I dont feel any support lately for my "bullish projection"
of TAVA.
Earnings release is late leaving speculaltors to believe there is
something wrong. No news compounds those fears. I can tell you that I am not
happy. Please disregard this if you believe that I am just one unhappy
investor. Take it into account if you believe your shareholders helped you
get to where you are, where ever that may be. We just wish we knew.
Joe Stewart
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