To: Thomas Kirwin who wrote (396 ) 5/5/1998 9:01:00 AM From: Thomas Kirwin Respond to of 601
Napeague Letter Overview - 5/4/98 THE NAPEAGUE LETTER Monday, May 4, 1998 Editor: Bob Davis napeague.com UPDATES OF PREVIOUSLY ANALYZED COMPANIES As of the close of the market on Monday, May 4, 1998: Initial Analysis --- High --- Current Theoretical Symbol Date Price Price Date Price Value ------ ---- ------ ------ ------ -------- ------------- TASA 9/5/97 $0.72 $1.34 12/3/97 $1.16 $1.60 - 2.00 Touchstone Applied Sciences (NASDAQ:TASA): Earlier this morning TASA issued a press release announcing that "Beck Evaluation and Testing Associates (BETA) has received a five-year subcontract from the Texas Education Agency as part of a bid with National Computer Systems, Inc." I'll post more about this on the Napeague web site later today or tomorrow. A HTML link to the press release can be found on the TNL site. On April 15th, TASA announced plans for a stock buyback; although I do not expect that this will result in a substantial move upward in the stock's price, it will provide support if the stock drops below current levels. Hopefully, everyone is aware that TASA is now in full compliance with NASDAQ listing requirements - the Company is no longer at risk of being delisted. This press release was preceded by an announcement that "Modern Learning Press Launches K-3 Handwriting Series". To quote from the Press Release itself, "The K-3 market in the United States totals 15.2 million children. It is a market where high quality and affordable prices are of growing importance to teachers and administrators making purchasing decisions. For this new handwriting series, we engaged one of the top recognized experts in America as author. In conforming to our MLP strategy, we priced the handwriting series aggressively to be the most affordable, high quality series available." "For example," continued Simon, "our listed workbook price of $2.00 is just one third that of the most widely selling handwriting workbook series. Educators can now afford for students to 'consume' the workbook during the school year. We have positioned ourselves such that obtaining a small share of the K-3 market should be very significant to MLP and TASA." NOTICE This analysis is based on publicly-available information, and is in no way warranted by me as to accuracy or completeness. I do not guarantee to advise you as to any change in this information. I currently may be a stockholder in these Companies as the result of purchasing the stock on the open market, and I may from time to time purchase or sell these Company's securities on the open market. I otherwise have no affiliation with any of these Companies, and I am not compensated by any of them in any way whatsoever.