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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON? -- Ignore unavailable to you. Want to Upgrade?

To: John S. Baker who wrote (1026)	4/4/1998 3:05:00 PM
From: ER Doc	Read Replies (2) \| Respond to of 6931

In the unaudited financial report covering the quarter ending 1/31/98, it stated that the company's net loss for the quarter was $203,991, and the loss per share was $0.008. If my calculations are correct, that would mean there are 25,498,875 shares, give or take a few as the .008 may have been rounded. Not to ruin the euphoric mood of this thread (I'm as optimistic as anyone), but this is the first time I have actually seen an actual financial report on this company. I have a few questions that maybe some of you can answer. 1. The revenue for that quarter was $241,468. Since the AT&T deal began in November, it was up and going the entire quarter. It seems I remember a press release in December that the Nov. earnings estimates were met from AT&T, and that they were around $70,000. If this remained the same for the entire three months, that would only leave $31,468 in revenue for the three months from all of the other customers. I realize that some of the big hitters weren't customers yet, but they did have a number of clients at that time besides AT&T. I've never had a good handle on how much revenue ITI expects from its clients, but if those numbers are correct, it would seem not very much. One encouraging thing regarding this was the expected revenue from Norwest Financial of $8,000-10,000 per month. 2. It was thought on this thread last fall that there were 18M shares. This would indicate that the company sold around 7M up until the time that they discontinued selling them directly in January. The share price during that time ranged from around .30 to .80, so they should have raised anywhere from $2.1M to $5.6M, probably more toward the former, as more shares were probably purchased when the price was low. Yet, the company's deficit went up slightly, and the cash on hand only increased by $389,689. My question is, where did this money go? I would think if it were to retire debt or purchase new equipment, this would have been reflected in the report. I'm hoping someone who knows their way around a financial report can explain this to me.