Avcan (acy:vse) Company about to take off? Message Board

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Gold/Mining/Energy : Avcan (acy:vse) Company about to take off?

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To: rdww who wrote (6)	5/13/1999 11:10:00 PM
From: rdww	Read Replies (1) of 23

ASC Avcan Systems awarded contracts; three-month results ASC Avcan Systems Corp ACN Shares issued 3,799,829 May 12 close $1.05 Thu 13 May 99 News Release Mr. John Sutherland reports ASC Avcan Systems has received its newest GPS data acquisition service contract. This major contract covers 4,550 miles of electrical transmission lines with West Texas Utilities and has a value of up to $590,000. Aerial survey data collection of the lines commenced this week. This data acquisition agreement follows the successful completion of other Vid/Thermal Tracker 2000 contracts in the company's South Central U.S. service territory. For the quarter ending April 30, 1999, the company had revenues of $420,000 compared with nil for the corresponding quarter in 1998. The company had a loss in the quarter of $325,000 compared with a loss of $351,000 for the first quarter of 1998. Acceptance of Avcan's technology is positive. Numerous data acquisition, data processing and system sales contracts are actively in negotiations. Management remains confident of continued revenue growth for fiscal 1999. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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