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To: GARY P GROBBEL who wrote (41352)	10/17/2005 4:16:57 PM
From: Chris Forte	Read Replies (1) \| Respond to of 120405

From the TLST 10Q: Results of Operations Telesis Technology Corporation results for the second quarter and three months ended June 30, 2005. Sales revenue for the three months ended on June 30, 2005 was $ 962,803.00 compared with $ 330,002.00 for the same period ended a year earlier in 2004. This was an increase of 192%. Gross Profit for the three months ended on June 30, 2005 was $ 220,228.00 compared with $ 98,125.00 for the same period in 2004. This was an increase of 124%. Telesis Technology Corporation reported a net income before income taxes for the three months ended June 30, 2005 of $ 119,437.00 compared with $ 12,648.00 for the same period in 2004. This was an increase of 844%. Total Assets for the three months ended on June 30, 2005 were reported at $2,257,231.00 compared to $ 1,105,736.00 for the same period in 2004. This was an increase of 104% Total Liabilities for the three months ended June 30, 2005 were $759,099.00 compared to $ 290,422.00 for the same period in 2004. This was an increase of 161%. Liquidity and Capital Resources Since inception, we have financed our operations primarily from the founder and his initial and ongoing capital investments in the company and internally generated funds. For the three months ended June 30, 2005 shareholders equity was reported at $ 1,498,132.00. Telesis Technology Corporation is a diversified Aerospace & Defense Company which designs, tests, manufactures and markets semiconductor, electronic components and machined components and sub assemblies serving the aerospace and defense markets. Our defense industry products are used in specifically for the repair and maintenance of weapons systems, ground support, and equipment spares programs radar and electronic warfare equipment integrated into electronic systems for tactical aircraft, ships, ground systems, and missile systems. The demand for products manufactured by us and used in the aerospace and defense industry has been growing at a fast pace during the last 2 years and is expected to continue to grow. This growth is attributable to an increase in demand for our products by the government and all prime contractors dealing with the government, as well as to our strategy to acquire market share by offering leading edge products.