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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: SSP who wrote (90309)	8/15/2001 1:34:31 PM
From: Joe Copia	Read Replies (1) \| Respond to of 150070

accumulating MFLM for future spike. .0009 x .001

To: SSP who wrote (90309)	8/15/2001 7:03:52 PM
From: Rocket Red	Read Replies (1) \| Respond to of 150070

AVSG Financial results The following discussion of the financial results of the Company are preliminary and are subject to adjustment by the Company's independent certified public accountants. The Company expects to report sales, net of approximately $4.3 million and $18.0 million in the three and six months ended June 30, 2001. This would represent an increase of approximately $1.7 million and $14.3 million, respectively, from the corresponding periods in the prior year. The Company expects to report total operating expenses of approximately $5.0 million and $7.1 million in the three and six months ended June 30, 2001. This would represent an increase of approximately $3.4 million and $3.0 million, respectively, from the corresponding periods in the prior year. These increases are due in part to the termination on May 9, 2001, by Levi Strauss & Co. of the Company's "Dockers Golf" Trademark License Agreement. Because of the termination of the trademark license, the Company anticipates that the goodwill associated with the purchase of the wholly-owned subsidiary, Avid Sportswear, Inc., will be considered impaired. The Company anticipates that impairment loss will be recorded in the amount of $1,962,205 for the quarter ended June 30, 2001. The Company expects to report a net loss of approximately $2.0 million and $2.4 million for the three and six months ended June 30, 2001. This would represent approximately a $0.4 million increase and a $1.7 million decrease in net loss from the three and six months ended June 30, 2000. The Company's financial results for the periods above are not indicative of the Company's future financial performance due in significant part to the termination of the "Dockers' Golf" trademark license, resulting in the loss of the Company's primary product line.