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Technology Stocks : TouchStone S/W (TSSW)

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To: TonyM who wrote (2679)	5/28/1999 3:46:00 PM
From: David Alan Cook	Read Replies (1) of 3627

Tony, Just received a message from the CFO - Calvin Leong. The reason Goodwill is high is that it does include cash for the buyout of Unicore. If the shareholders approve the share transaction, we will see an increase in cash and cash equivalents and a decrease in goodwill. The offset for this is shown in the liabilities section under Deferred Acquisition Cost and Accrued Merger and Acquisition costs. Reference - Accounts Receivable - This includes both Unicore and TSSW receivables. As revenue rises, the accounts receivable amount normally rises as well. The key will be seeing how fast revenues rise in the next quarter or two . . . Bet they are up significantly higher than the % increase in AR shown on the balance sheet. Lets see, we have about 20 days of sales of Unicore products that have generated 400,000 yet we are carrying account receivable for both companies. Lets see if revenue jumps significantly in the coming qtr. DC

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