Patricia, my schedule will not allow my listening on the call, but here are few question that some people may want to ask:
1. Are the additional 15 MM shares (between the 5/7/99 count of 80 MM and today's 95 MM) the left over 15 MM shares in escrow for the PP? If not, what were these issued for.
2. While the closure of the western office will save $150,000 , the launch of the Musicard and the Telemarketing businesses will require additional funding, is there a quarterly estimate of the new burn rate?
3. What charges can be expected for closing the western office?
4. The company had $20,000 in cash as of 3/31/99, what source of financing for the current and next two quarter is contemplated? Will it involve further share dilution?
5. Since the selling of Musiccard through distributors does not leave profit margins for TSIG, what are their expectations of number of CD sold per card sold (one should expect that many cards buyers will not by CD's). Since the CD are the lowest cost on the market how wide or narrow are the profit margins on CD sales expected.
6. Is the Chapter VII filing of VSI final? In other words, is there any chance of having to record a reversal of the $4 MM plus credit taken in the last quarter?
7. There are rumors that other senior personnel, apart of Hwang, are to leave TSIG, could you comment?
8. When does the company in general expect to break into a positive cash flow basis?
9. What is the status of the telemarketing organization? The head count and status of training of new personnel, and of course, when does TSIG contemplate starting to operate the group to satisfy the term of the Signature agreement? Is there a "launch date"?
Well, that is enough for one conference call.
Zeev
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