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Technology Stocks : AremisSoft Corporation (AREM) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Rudd who wrote (152)	5/17/2001 1:54:46 AM
From: Bob Rudd	Read Replies (1) \| Respond to of 683

Here's an excerpt from the 10k filed March 2000 covering the Bulgarian contract: << The second contract was with the Bulgarian National Health Insurance Fund, commonly referred to as the NHIF, in connection with automating the Bulgarian nationwide healthcare system. The contract is structured in multiple phases and we anticipate recognizing revenues from the contract over a three year period from the day of signing, with the later phases subject to the availability of approximately $20 million in third party lease financing made available to Bulgaria's general practitioners for the purchase of equipment and software to be installed in their offices. The =>estimated<= value of all phases under the contract is approximately $37.5 million, with later phases contingent upon acceptance by the NHIF of the earlier phases and other conditions relating to our performance. Under the contract, we will install a comprehensive suite of our Internet-enabled healthcare products to provide financial, patient and clinical information management and a communications network to link hospitals, pharmacies, laboratories and general practitioners with the NHIF headquarters and some regional centers. Initially, we will provide our products to approximately 5,000 of Bulgaria's 12,000 general practitioners, 500 of its 1,000 pharmacies and 30 of its 250 hospitals. The NHIF has agreed to cooperate with us in processing third party lease financing and has offered the possibility of a financial guarantee for the lease obligations of their general practitioners.>>

To: Bob Rudd who wrote (152)	5/17/2001 9:01:03 AM
From: Dale Baker	Read Replies (1) \| Respond to of 683

I don't trust anything written in the Balkan press - most are incompetent amateurs and many have their own agenda. You can't trust the facts or the spin. But the key for me is AREM already booked $7 million in items they call related to this contract. Sounds like a giant misunderstanding but what was part of the contract or not, which TSCM spun into a stupid story about "foreign fraud". As long as AREM was paid for a real invoice, it's kosher. But it will take some time for the traders to be done with AREM and the enterprise value to be priced in again.