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Technology Stocks : AXSI - Axcess Inc. (formerly LASX) -- Ignore unavailable to you. Want to Upgrade?

To: John Arnopp who wrote (879)	5/21/1998 9:34:00 PM
From: John A. Paul	Read Replies (1) \| Respond to of 1220

My notes from the conference call Overall an interesting call, with a good summary of the 1st quarter and the continuing plans and expectations for the future. The company expects to continue to see loses thru the year in accordance with their stated plan for the year. They anticipated a need for $10 million in operating capital for the year ($5 million in operating loses and $5 million in research costs) and this expectation continues. Of that $10 million, $5.5 is either in hand or committed and $4.5 is yet to be raised. In response to a question on this $4.5 million the company stated they do not foresee stock share dilution at this time. For the second quarter the company expects continued loses but at a lower level, due to increased sales, especially in the the ID card services area. On the heals of the Lockeed-Martin ID card sale, the company has been invited to a trade show for other defense contractors, and is optimistic regarding possible sales from this show. With regard to the high volume printers the company is encouraged by activity in Asia; deals could come in two weeks or not at all, but they are encouraged. The mid-range printer prototypes should be in the hands of distributors by the 3rd quarter. There was a question regarding COMS 21, an Australian company which is involved in the China ID card sales. This company recently went public and is currently raising money in the US. Their growth could help the China sales. The main enthusiasm continues to be in the reader and technology area, especially in the work with XL Vision and Safeguard. The company is working on multi-application card readers and symbology readers in the $200-$300 range. Models of these printers will be available in June and prototypes available for a trade show in September. This September trade show will be the first public showing of these new products. The call takes about 45 minutes and includes questions from brokers and individual share holders. The company promised to take their plans on the road to New York and Dallas in the coming months. They remain concerned about the current share price, but believe it has bottomed and will build from here. They admitted the past history of the company may be to blame. The recording can be accessed at 1-800-475-6701 (access code 391604)until noon on the 28th. I have done my best to properly represent the discussions on the call. It would be helpful for others to also listen and add remarks.