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To: Fred Thornell who wrote (33519)	8/15/1999 9:03:00 AM
From: Zeev Hed	Respond to of 44908

Philip, you are right, the $3 MM negative cash flow is for the first six months, the format fooled me. In any event, in my calculations I took the $1.5 MM and whatever portion of the payable due (out of $2.8 MM in accts payable). Marc, I tried to find out what are those receivable, and I found that on March 30 they had about the same "other current assets" as on June 30, except that on June 30, some of it is classified as " other accts receivable" ($497 K) and prepaid expenses ($809 K), while in the March "issue" we have a total of $1,223 of "other assets". Unless the distributorships receipts were in the first quarter, these accounts receivable are not likely to be for distributorship. And are apparently for something else. By the way, the 10Q shows no signs of "write off" for the Huang division that was closed late in the quarter. Maybe that will show in the next quarterly. Zeev

To: Fred Thornell who wrote (33519)	8/15/1999 5:33:00 PM
From: cicak	Respond to of 44908

"Total revenues from continuing operations for the three months ended June 30, 1999, were $164,910, representing a 282% increase from comparable revenues of $43,226 for the three months ended June 30, 1998." biz.yahoo.com

To: Fred Thornell who wrote (33519)	8/15/1999 5:35:00 PM
From: cicak	Respond to of 44908

"Operating expenses experienced a 45% decrease to $1,701,569 from a total of $3,120,751, resulting in an operating loss of $1,536,659 for the three months ended June 30, 1999 versus a loss of $3,077,525 for the same period in 1998, a 50% improvement. The decrease in total operating expenses is a continuation of the improved results from the elimination of the Visitors Services' travel-related operation. Salaries and related expenses have been substantially reduced, a trend that is expected to continue into the quarter ended September, 1999." biz.yahoo.com