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Gold/Mining/Energy : AIT Advanced Information Technologies Corp. -- Ignore unavailable to you. Want to Upgrade?

To: Lee Matheson who wrote (43)	11/28/1997 7:32:00 PM
From: hugh thorne	Respond to of 130

AIT Advanced Information Technologies - Post says bank debt paid off 1997-11-20 close $2.25 Friday Nov 21 1997 The Financial Post reports in its Friday edition that AIT Advanced Information Technologies trimmed its annual loss to $4.5 million, or $0.70 a share, in the year ended September 30. Reporter Jill Vardy says that is down from a net loss of $13.4 million, or $2.10, in fiscal 1996. AIT's revenue rose 26 per-cent to $20.6 million, partly because of renewed demand for its video surveillance and digital recording products. The Ottawa-based manufacturer of security technology says its selling, general and administrative expenses were down eight per-cent in the year, but spending on research and development jumped 66 per-cent. AIT expensed $2 million of unusual items in its fourth quarter to cover the costs of a company reorganization in August and deferred income tax provisions. It completed an $8 million private warrant placement on October 10 to repay bank debt and refill its cash coffers. President and chief executive Peter Bennett says the money will be used to pay off $5.7 million of credit facilities from Royal Bank of Canada. The rest will be used for working capital and to finance growth. AIT shares fell $0.16 to $2.25 on Thursday.

To: Lee Matheson who wrote (43)	11/28/1997 7:38:00 PM
From: hugh thorne	Read Replies (1) \| Respond to of 130

I think that one of the key changes that has occured in the last while, and will have a large impact on the IDside, is that the US have finally opened up for business again. From what i understand, the key shareholders are still positive. Given their net worth's are in the company i guess they have no choice but to believe.None-the-less, their committment seems genuine. The company still has a good management group and the board are excellent. I put alot of weight on those.