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Technology Stocks : TouchStone S/W (TSSW)
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To: David Alan Cook who wrote (2688)6/4/1999 6:34:00 PM
From: robbie_nw  Read Replies (2) of 3627
 
I left a message for Rich West today...and to my surprise Pierre called me back instead.

A couple notes from our short conversation:

1) He confirmed that "goodwill" (on balance sheet)included the cash set aside to purchase unicore in the event new shares are not authorized. He indicated that the auditors suggested this and it was the "sqeaky clean..conservative" approach.....an approach he was not pleased with because he felt it makes the balance sheet look much worse than it actually is. After shares are authorized...goodwill will decline and cash will increase (significantly).

2) He said annual meeting (shareholder vote) will take place the last week in July (29th).

3) He indicated that Unicore revs should consistently be in the range of 340-400k per month (march was a good month...400k)....and feels comfortable with an annual revenue of 4-5 million (unicore only).

4) I got the distinct impression that they feel any positive news releases made prior to the shareholder vote would be somewhat diluted by the effects of people waiting for the results of the vote and completion of the deal. I agree with this logic.....and would prefer they save any "thunder" until after the deal is done and behind us.

5) He indicated that earnings should be announced sometime in early august.

I agree with DC that Q2 and beyond will look great. Can't stress enough how positive it is to have CEO with interests DIRECTLY aligned with ours.....as indicated by his return call today :>)
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