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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)

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To: Captain Jack who wrote (23713)	10/2/1998 8:00:00 PM
From: Alastair McIntosh	Read Replies (1) of 31646

Re: Dilution According to the recently filed annual report the following is still outstanding: Stock purchase options 2,168,825 Stock purchase warrants 290,994 Some further dilution is therefore inevitable although not as much as has occurred to date. In addition, a more conservative accounting of the options would increase the loss for the year to $0.09/share. It should also be noted that TAVA still has $4,881,000 in capitalized software development costs which will have to come of the bottom line before the year 2000. Another unusual item concerns TAVA's claim for additional revenue from one of their projects. TAVA has recognized revenue of $2,912,000 even though they are in litigation over the claim. This is a very liberal interpretation of accounting standards. Applying more conservative accounting would show a loss for the year of $0.20/share. Al

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