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Technology Stocks : IACP -provider of high-volume application software soluti
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To: Grandk who wrote (4)4/19/1999 10:08:00 AM
From: tom r. phillips  Read Replies (1) of 13
 
J. --

Here's a link to IACP's annual report:

sec.yahoo.com

some quick impressions: the directors of the company have impressive credentials. aside from Mr. Moran, there's another with a Schwab connection:

"Mr. McCarthy has served as a director of the Company since January 1999. Mr. McCarthy is the
Chairman of the AdvisorTech Corporation, a brokerage systems company founded by Mr.
McCarthy in 1998 and based in Tokyo, San Francisco and Boston. From 1995 to 1998, Mr.
McCarthy was President and Chief Operating Officer of Charles Schwab and Company, Inc. From
1994 to 1995, Mr. McCarthy was Chief Executive Officer of Jardine Fleming Unit Trust Ltd. in
Hong Kong."

a general impression i get is that the company's business development has been disappointingly slow. the report emphasizes the big commitment customers have to make in going with IACP products, resulting in long sales cycles requiring multiple reviews and approvals. competition is fierce and could easily become moreso because, for example, hardware vendors could offer integrated hardware-software package solutions at prices better that IACP's.

i'm cautious, but made a small purchase of shares this morning at 3 1/4.

tom
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