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Microcap & Penny Stocks : TASA. Can someone with KNOWLEDGE help!!!! -- Ignore unavailable to you. Want to Upgrade?

To: tom r. phillips who wrote (280)	3/30/1998 10:24:00 PM
From: Thomas Kirwin	Read Replies (1) \| Respond to of 601

Napkin Math Valuation Guys, We have numbers from the last press release so lets play with them. I see $8 million in additional revenue, pro-forma revenue growth of 350% in three years and EBITDA of over $3 million in fiscal 1999. The stock valuation of TASA before the Drake Business Schools (DBS) acquisition announcement was a theoretical $1.60 - $2.00 as calculated by The Napeague Letter. I submit to each and every one of you that the value has jumped significantly. The following 1998 projections or napkin math is based on current Napeague projections and the press release numbers. Revenues TNL ---- $7,167,000 DBS ---- $8,000,000 Total - $15,167,000 EPS TNL --- $05 DBS --- ??? EBITDA TNL/DBS - $3 Million Approximate Shares Outstanding 8,499,000 To be continued...... I must sign off for the night and get some sleep. Stay tuned - Same Server, Same Thread. Regards, Tom

To: tom r. phillips who wrote (280)	4/3/1998 7:55:00 AM
From: tom r. phillips	Respond to of 601

for the record: Friday April 3, 7:02 am Eastern Time Company Press Release Corporate Profile for Touchstone Applied Science Associates, dated April 3, 1998 BREWSTER, N.Y.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the content that is available in the leading information services throughout the world. Included are the top web sites, search engines, databases and financial information services. Published Date: April 3, 1998 Company Name: Touchstone Applied Science Associates Inc. Address: 4 Hardscrabble Heights Brewster, NY 10509 Main Telephone Number: (914) 277-8100 Internet Home Page Address (URL) www.tasa.com Chief Executive Officer: Andrew L. Simon Investor Relations Contact: John Dutton Business number: (213) 630-4401 Trading Symbol/ Exchange: NASDAQ:TASA Industry: Education Market Makers: Comprehensive Capital; Barron Chase; Herzog, Heine & Geduld; Northeast Company description: Touchstone Applied Science Associates Inc. (TASA) provides the educational market with select learning, assessment and evaluation tools. The company develops, publishes, and distributes a highly regarded, propietary line of reading comprehension tests based on its internally developed assessment methodology called the Degrees of Reading Power. Over 3,400 elementary and secondary schools, colleges and universities in North America use its DRP tests. Its wholly-owned subsidiary, Modern Learning Press Inc., designs, publishes and distributes affordable ''consumable'' student workbooks for grades K-4, and creates and publishes books and pamphlets for elementary school teachers and parents. Its wholly-owned subsidiary, Beck Evaluation & Testing Associates Inc., designs tests and evaluates assessment needs for schools, districts and test and textbook publishers. TASA's Common Stock is traded in the NASDAQ small-cap OTC market under the symbol TASA. The approximate high and low closing prices for FY '97 and FY '98 were: Common Stock Prices Fiscal Quarter: High Low 1st Qtr 97 1.00 0.375 2nd Qtr 97 1.00 0.438 3rd Qtr 97 0.75 0.344 4th Qtr 97 1.00 0.281 1st Qtr 98 1.031 0.625 Net income (loss) for FY '97 was ($1,363,811) on sales of $4,587,600. Revenues in Q1 of '98 increased 38% to $1,297,744, and the net was breakeven.