From: "amanda" <amanda@tradeit.com>
>
Subject: VERSUS Technologies Inc.
Date: Tue, 23 Mar 1999 19:34:23 -0500
X-Msmail-Priority: Normal
Hi Tim.
Thanks you for your interest in VERSUS Technologies Inc. The following are
the answers to your questions:
1. When are financials due?
Our second fiscal quarter will end on March 31, 1999. We anticipate that
results will be announced approximately 45 days after the quarter end.
2. How many accounts are you currently holding?
As at December 31, 1998, we had 8,134 accounts. We will be releasing our
most recent account figures in conjunction with our March 31 financial
results. Generally speaking, RSP season is the industry's most significant
period of the year in terms of bringing in new accounts.
3. Why was the IPO price raised? Especially in light of the current share
price.
The IPO price was raised based on discussions between our Board of
Directors and the underwriting syndicate. Obviously, pricing was a very
delicate issue, and a significant amount of thought and debate went into
determining the issue price. The most significant factor in the
discussions centered around the relationship between supply (the number of
shares being offered) and demand (the level of the order book). At the
time, the order book was very seriously over subscribed, and most of the
large orders were confirmed at the higher price. The underwriters put
forth a recommended pricing range based on a review of the components of
the order book, their understanding of the market, the valuation of the
company compared to similar players, and an understanding of the
sensitivity of potential shareholders to the price.
Unfortunately, judging market movements is not a science, and the share
price has fallen. There have been no material changes to any of the
information presented in the prospectus or those underlying the original
valuation. The market will continue to experience some volatility in the
short term, as the shares find their footing. Management continues to
focus on building long term shareholder value.
I hope that this addresses your issues. We are in the process of
establishing an investor relations function, and appreciate any investor
feedback.
Sincerely,
Amanda Ram
EVP and CFO
VERSUS Tecnologies Inc.
(416) 214-6244 |
