TSIS: WHAT IS GOING ON? Message Board

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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON?

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To: jmt who wrote (3791)	9/22/1998 10:21:00 AM
From: John S. Baker	Read Replies (1) of 6931

Okay ... Fiscal Year ends July 31st ... losses (audited) for FY ended 7/31/97 ... reported profitable quarters since April ... may or may not net out a tiny profit for the FY ended 7/31/98 (currently in audit) ... I think we agree so far. Current price probably not based on current earnings ... yup, we agree there ... although I'd point out that even stocks which are earnings-based reflect earnings theoretically out to infinity, ie "net present value (discounted) of all future earnings" ... and I suspect that TSIS's current pricing model should take into account the prospect of future earnings. Thus, when you add in "nil" plus "something in 1999" plus "something in 2000" etc, you sort of automatically reach a lower P/E than might be assigned to a company which has current earnings. And I would add that I continue to be stumped by the question of what is the most appropriate multiple to assign to TSIS. EVery month or so, I ponder this but still am not comfortable with any one conclusion. Happy Due Diligence JSb. (for lurkers -- I am long in TSIS for quite some time now)

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