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Gold/Mining/Energy : Offshore Systems International (TSE - OSI) -- Ignore unavailable to you. Want to Upgrade?

To: Aykay who wrote (439)	2/21/2000 8:41:00 PM
From: James Bliss	Read Replies (1) \| Respond to of 490

This thread has been quiet lately. To perhaps initiate some discussion, here is a reply I received from John Jacobsen a couple months ago to some questions I asked. One thing I can say about this company is that everyone has been really good and honest in answering all the questions I have. Here it is: "1. We don't release the breakdown of our revenues because it's competition sensitive. I can say that we're generating revenue from both product types, as well as charts. 2. I'm not aware of any really substantial orders going to anyone in the ECDIS world, including TRANSAS. We have a number of wins, and so has TRANSAS, I'm sure. We've looked for evidence that they've figured out how to generate large sales, but we've not found any - lots of stories, but not much substance. Our research, and the general "word on the street" is that commercial ECDIS sales are slow for all the suppliers, including TRANSAS. 3. Commercial revenue has been below target (2. above), and we've responded accordingly by reducing costs. 4. Yes, your patience is warranted. The product works. In the Military and Coast Guard markets it is a major tactical tool, and the shift is strongly under way to making it part of the C2 suite on the vessels. In the commercial markets, the product pays back users in improved safety and lower costs - usually in the first year. Some groups of customers, who've used it for a few years, make their investment back every three to four months. We now have hard data, and we're getting the story out. With the commercial shipping industry in the middle of a major recession, sales are coming slowly, but they're coming. Thank you for your support - we're all in this to run a successful company and make a good return on our investment. It's a new product in a conservative market and patience is required. Offshore is still considered the world leader by the market - we're still the standard of comparison for all the others. Cheers JJ" P.S. I read on the Stockhouse forum that Q4 earnings won't be released until the beginning of March. But they're supposed to be break-even or better. Jamie