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Biotech / Medical : Medical Technology Systems MSYS -- Ignore unavailable to you. Want to Upgrade?

To: DJ Clancey who wrote (107)	4/10/1998 8:02:00 AM
From: Dave B	Respond to of 139

To all...I called the company yesterday and found out something about settlement of dispute with bank. There is a news release from the company dated Mar.31. The full release is on its way to me via mail, however this following clip was found by someone on the Yahoo message board in the Tampa newspaper. --------- "Medical Technology Systems Inc. of Clearwater said its lenders agreed to extend $1.2 million in loans in exchange for certain conditions, including a pledge that it no longer will finance its LifeServ Technologies Inc. unit from its two other operating units and instead use $1 million from those units to pay down debt. " ----------- I'll post the full release along with Pres. Todd Siegal's comments when I receive this weekend. Sara read the release to me over the phone and although I only was able to catch the general idea, it sounded like MSYS is confident that LifeServ is ready to stand on its own and that the core business(packaging) is running a strong profit at this time. Two more items of note 1) No earnings release date yet 2)An insider(officer) bought 10,000 shares at 22 cents on Feb 12th...the same time that stock bounced up to 40cents. I'll keep everyone updated on further developments Raise your hand if you are out there and let everyone who may be reading for the first time your thoughts on the company. I for one am very bullish on the near-term as the next earnings date approaches and it seems the financials are back in place. Dave B

To: DJ Clancey who wrote (107)	4/11/1998 9:35:00 PM
From: Dave B	Read Replies (1) \| Respond to of 139

Here is the release::::: Medical Technology Systems today announced that is has reached an agreement with it's lenders to amend its current loan agreement. The Loan Agreement primarily deals with issues related to a newly formed subsidiary of Medical Technology Systems, Inc.(MTS), LifeServ Technologies (LifeServ). Under the Loan Agreement, LifeServ will acquire the stock of the Company's software businesses. If certain criteria are met, the lenders will release LifeServ's assets from any and all liability under the Loan Agreement. The Loan Agreement also permits financing of approx. $1.2 million to be secured with certain assets of LifeServ and its subsidiaries. Approximately $700,000 of this financing has been received and LifeServ has executed a term sheet for an additional loan of $500,000. MTS has agreed with its lenders that it will no longer fund the LifeServ businesses from its other operating subsidiaries, MTS Packaging Systems, Inc and Medical Technology Laboratories, Inc. The Company has funded in excess of $1.9 million to LifeServ over the past 11 months. In addition, MTS will be required to retire approximately $1 million of its existing debt from excess cash flow, if any, generated by the other operating subsidiaries. Todd Siegal, President and C.E.O. of Medical Technology Systems, Inc. commented, "The management team of LifeServ has had excellent results in building a sound organization, completing product development, implementing new systems sales and increasing revenue. Siegal continued, " We believe that Mike Felix, President of LifeServ, and his management team will continue to grow LifeServ and enhance the value of this business for MSYS shareholders. MTS will continue to focus on its other core businesses which have historically enjoyed good growth and profitable operations." --------------