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

To: Chris Baker who wrote (334)	5/11/1998 9:59:00 PM
From: tom ablett	Read Replies (1) \| Respond to of 1635

Start reading back about 100 posts. Makes for great reading and pretty good DD IMHO. Check out their web site for everything else intrinsyc.com Tons available. Tom A.

To: Chris Baker who wrote (334)	5/11/1998 10:40:00 PM
From: Chris Baker	Respond to of 1635

Never mind - I found the financial loss information at Carlson. Hope Annasoft is in better financial condition.

To: Chris Baker who wrote (334)	5/12/1998 5:28:00 AM
From: Codfish	Read Replies (1) \| Respond to of 1635

Chris, You have a few questions: Anyone know where to find financial statements for ICS or are is this type of information assumed to be irrelevant for companies listed on the VSE? Never mind - I found the financial loss information at Carlson. Hope Annasoft is in better financial condition. I don't know their net but their revenues are reported to be in the area of C$10M as noted in the press release about the merger: "Annasoft Systems and Annabooks, founded in 1989, have a large customer base with reported annual (Feb 28/98) revenues of approximately C$10 million (management stated) with strong growth projected in 1998. Together Annasoft Systems and Annabooks directly employ 20 marketing, sales and technical staff members in their San Diego offices, in addition to enjoying a close working relationship with a group of 30 subcontract developers who are under exclusive engagement for Windows CE systems integration work. Collectively with Intrinsyc, this brings more than 85 people together to offer OEMs a broad range of technologies and services for rapid embedded systems product development." Surprised that Annasoft decided to merge with this deficit-ridden company. Intrinsyc appears to provide more hype than basic information such as how many shares are outstanding. This company is trading on Vancouver in the ñ$2 range, shifting from R&D to commercialization. Do you really believe that earnings have anything to do with the value of the company at this point? For the past 10 months or so it has been a question of gaining market share. Naturally, this is the name of the game with any company at any point but it is particularly important in the new Windows CE market as it is an entirely new market. All the players are jockeying for position and, as with every other industry today it seems, there will be mergers, acquisitions and affiliations - maybe some more involving Intrinsyc. With the merger, the company has moved to another level - commercialization and investors will look to the earning potential of the new enterprise. Annasoft is a recognized name in their industry and could likely get much more value for their shareholders allying with a well captialized U.S. company, rather than this barely solvent company (if you believe their financial statements). As you note above: Annasoft is a well established company. I suspect that they have become such a company because they know what they are doing so I'll not second guess their decision to align themselves with Intrinsyc, this barely solvent company. Indeed, Annasoft is even giving up its name inasmuch as the new U.S. based, U.S. listed company will be called Intrinsyc Inc. Hasta luego Bill C(odfish)