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To: Jim Bishop who wrote (98694)	1/2/2002 12:53:16 PM
From: Patsyw	Respond to of 150070

ISSS, price,volume and news, bought at 0.05 (COMTEX) B: Integrated Spatial Information Solutions Sharply Narrows Its B: Integrated Spatial Information Solutions Sharply Narrows Its Net Loss; ``Going Concern'' Opinion Removed PARKER, Colo., Jan 2, 2002 (BUSINESS WIRE) -- Integrated Spatial Information Solutions, Inc. (OTCBB:ISSS), citing higher revenue, improved cost management and the absence of litigation expenses, sharply narrowed its net loss for the fiscal year ended Sept. 30, 2001. The designer and supplier of e-government solutions and spatially enabled data warehouses posted a net loss of $1.1 million, or 6 cents a share, for the 12 months, compared with a net loss of $2.6 million, or 16 cents per share, a year earlier. Revenue rose by 26% to $7.6 million from $6.1 million. The company was marginally profitable on a cash flow basis, generating $49,276 from operations versus negative cash flow of $827,198 in the prior year. In the management disclosure accompanying its annual audit report, the company reported that it had achieved a small positive net income (unaudited) on a consolidated basis for the first two months of operation in fiscal 2002. John Antenucci, president and acting CEO, said: "This annual filing documents the successes that we have had in moving the company toward profitability, and eliminating many of the factors that have haunted its past performance, including litigation and lack of adequate capital. We are making good progress with our current shareholder rights offering, and the company's financial performance for the most recent months has yielded small profits, on a consolidated basis, as a result of effective cost controls and increased revenue." ISIS also announced the removal of the "going concern" statement previously contained in the auditor's opinion, reflecting successful recapitalization efforts initiated in February 2001, most notably the rights offering to shareholders and other qualified investors. As of Dec. 19, 2001, ISIS had raised approximately $1.65 million in cash through the offering, and approximately $100,000 in conversion of accounts payable in stock. The closing date for the offering is Jan. 18, 2002. About the Company Integrated Spatial Information Solutions is a systems integration and implementation company which specializes in leveraging the spatial information assets of its clients, and bringing economies of operation and enhanced performance through the development of e-service capabilities. ISIS has offices in Colorado, Kentucky, New York, New Jersey, Maryland, Rhode Island and California. The company's Web sites are www.ISIS.cc and www.PlanGraphics.com. The forgoing contains forward-looking statements which are subject to contingencies and uncertainties. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about transactions or results which may differ materially from anticipated events, transactions or results described in such statements. CONTACT: For Integrated Spatial Information Solutions, Inc. B. Edward Haun & Company Bruce Haun, 303/595-4667 URL: businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. Copyright (C) 2002 Business Wire. All rights reserved. -0- KEYWORD: COLORADO KENTUCKY NEW YORK NEW JERSEY MARYLAND INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS E-COMMERCE INTERNET NETWORKING SOURCE: Integrated Spatial Information Solutions, Inc. * end of story *