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Gold/Mining/Energy : Intrinsyc Software Inc. (T.ICS) (formerly V.ICS) -- Ignore unavailable to you. Want to Upgrade?

To: Sultan who wrote (189)	2/19/1998 9:40:00 PM
From: Codfish	Respond to of 1635

Sultan >Your posts sound balanced at times and yet you do put a positive spin on things. I try to be balanced Sultan, but you're right, I do have a positive bias - based mainly on what I perceive to be the potential for movement into the Windows CE embedded market. >Are you doing the PR for the co. for fun or are you being paid. Cash or Stock options ? Just to peg your advice a bit. Started as fun and I turned it into a small bit of cash. No options. The lab coats only get 35,000 share options - or something like that (I think). I'm not offering advice. Just a package of facts with my perception of what it may mean. I'm simply offering an hypothesis. >As for the Board, I am curious. The numbers on ICS, from last financial statement, are not that strong. Even as a startup, with all these people, some of them with deep pockets (or am I giving too much credit here) I'd have expected better financing (at this point, my balance sheet is better then ICS). They recently completed $1M and are working to close a similar amount in the very short term. They came into 1998 riding on a wave from Comdex and San Jose that was flattening out. Anticipated announcements have been delayed and thereby backing up everything in the pipe. Then Asia went for a sh*t and things got choppy....The company has had to work harder to secure the planned financing. >Having said all of that, I don't look at the co. suspiciously or anything. It is just that having been burned big times on VSE technology startups You're coming through LOUD and CLEAR there Sultan. >I have finally figured out not to get too excited if the market caps have already discounted a lot of positive things and wait.......So we wait. May be the co. will surprise and I miss the boat or we are proven right and you pick up the stock cheaper. That's the spirit Sultan. I think your last paragraph says it all and summarizes my feelings as well. I see Intrinsyc as a small start-up with some good people (Spratt brought PCS from $0.65 to $4.25 before he left. I do not believe it is fair to hang Scobie's work on Spratt). They appear to have some good technologies at the right time (the launch of Win CE 2.0). Gates wants Win CE 2.0 to succeed. Maybe Intrinsyc can help. Microsoft liked them in September and November. Maybe they still like them. >What are some of the other numbers here. How many employees the co. have? ñ35 I think and $200K/mth burn rate. Are they planning further financing? As noted above, presently working to close some more. over and out Bill

To: Sultan who wrote (189)	2/20/1998 2:30:00 AM
From: robert landy	Read Replies (1) \| Respond to of 1635

observations and comments, I noticed while browsing the annual report for 1997 that the salaries that are listed as expenses come to a total of: - 206k for marketing and commission - 277k for admin and benifits - 260k for r&d. .......Total approx 800k. For a R&D company how far do you think 260k goes, maybe 4 or 5 guys who are not that well paid to develop the software or maybe 2 to 3 guys who make a decent living considering their skill level and the demand for programmers? Again, look at what the other salaries could carry,maybe 8 to 10 people in sales and the front office. Not that many employees for an up and coming software company is it? I suspect there are more people in sales making good money so maybe 5 to 8 people would be a better mix. Getting to my point, I wonder how much of the resources of Ics goes into getting a salable product into the marketplace and how much goes into the pockets of the directors who by the way, are in a no lose situation. They came in at a very low price point and continue to receive share options and warrants which will be repriced as the stock dips. If this tanks, they cash in and walk away. We on the other hand are in at a much higher price point and gain nothing unless this flies as just a "vse" promotion or on the other hand actually makes a product that the marketplace values. I can't tell which scenerio it will be and because of this I'm still here. I see nothing in the annual report that gives employee numbers or stratagies to gain marketshare or how competitive this area is, I would like to see something concrete from the company in order to smooth the waters. As for the dip in the market I noticed that when it came down to 1.15 there was sure alot of people picking it up. hopefully that's the bottom for now. I also noticed that the short position has grown substantially in the past few weeks to a record level (I don't have the figures right now but look them up on stockwatch). If anything good comes from all this despair it's that a lot of people are talking which can be good. Lets hope it becomes profitable.