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

To: Breeze1 who wrote (2403)	5/30/1998 10:48:00 AM
From: John S. Baker	Read Replies (1) \| Respond to of 6931

First of all it is important to note that we already have one year of audited financials behind us. That puts TSIS ahead of many BB stocks. The most recent quarter ended the last day of April. This was the third quarter of the fiscal year. It typically takes 4-6 weeks to prepare the quarterly financial statements ... and I am confident from my discussions both with management and with IR staff ... that they want to make sure that everything is done right at this stage in their development. They are bending over backwards to make sure. So I would guess that the financials will be circulated to those on the FAX list within the next couple (or maybe three) of weeks. (In my opinion, all the flurry of "predictions" for release of financials a month or so ago were due to people thinking ... erroneously ... that the quarter ended in March, not April.) Those financials will not be audited. Quarterlies usually aren't. Our first glimpse at the next set of audited numbers will be the financials for the complete FY, ending July 31st. It is my understanding that management currently is considering applying to become a fully reporting company as of the audited end-of-year report. What that may do to the timing, I don't know. But clearly I believe we will be in a better position as shareholders once the company is fully reporting, and so I don't really mind if it happened to cause some delay in disclosing the numbers. I am not about to predict a date when they will be released <grin>. But please make your plans to come to San Diego for the annual meeting, whenever it is. You'll get a chance to put faces to many of the names you see here. Besides which, it should be great fun!