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Gold/Mining/Energy : Sideware Systems - SYD.u/V, SDWSF -- Ignore unavailable to you. Want to Upgrade?

To: AGORA who wrote (3095)	6/6/1998 12:59:00 AM
From: Harmattan	Read Replies (2) \| Respond to of 6076

Agora, When I first read your latest post over at Stockhouse, I was intrigued and then puzzled. You showed surprise at the lack of commentary on the latest press release noting especially Owen Jones statement about "profitability" as a result of the new arrangement with IBM. What intrigued me was that you were (as you said in your own words) trying to inititiate conversation about aspects of the press release you felt were overlooked. Excuse me if I have trouble wiping a look of disbelief off my face. Believe me, I have read and re-read every line ad nauseum. In response to your post I was going to quote from many releases of the past showing the company making similar statements of "profitability" with NO HARD NUMBERS since then to back the words up. NONE. This company has achieved a lot this past year and I give credit for that. I believe in its future. However, for you to suggest that we have overlooked (or should comment on) a nugget from Owen about "profitability" resulting from becoming a member of BESTeam; pardon me? In case you missed it, I repost below wcwise's post from Stockhouse in response to you. It pretty much sums up my thoughts also and his tone is far more charitable than I would be at the moment. ghunk --------------- Agora, OK... I'll bite. Let me begin by stating that the following comments are not meant to be negative. They are merely intended to illustrate why we investors are not all foaming at the mouth over our impending newfound wealth. All the following quotes are from Mr. Jones' November 13, 1997 "Message from the President." "We expect Tagalongs to produce a profit and enhance our corporate visibility." I don't think it has met either expectation, but I don't know because we never get to see any numbers in any company communications. I can only assume that this means the numbers are disappointing. "Our goal is to reach sales of 1000 Net Notions servers per month." Have we? Again, I don't know because we have had no follow up or progress report on how sales are coming via the website or Sunset arrangement. The assumption then, is that they are less than hoped for. "Well if there is one thing that we, as a company, have demonstrated is a relentless ability against heavy odds to achieve milestones." Hmmm... we seem to excel at setting milestones and shifting milestones and rearranging the priorities of milestones and delaying milestones, but achieving them? I give the management team credit for the job they did in salvaging and defending the company from the Kostiuks. I also give them credit for initiating some exciting possibilities for the company. I give the development team a thunderous round of applause for their work in turning out quality products on short lead times. What I want to see now is closure. I want to see an initiative... any initiative (pick one... HotNotions, Lotus deal, US financing, TSE listing, etc.)... finished. I want proof that someone at Sideware is a closer. "This required nomination by a Sun market segment manager and is based on our software running on Sun equipment reaching a minimum sales volume of US$10 million per year." How we doin' on that one? I sure don't know because we haven't heard anything more about it since then. And finally... "Over the next 6 months it is our plan to raise this financing. We will do this by: 1.Finalizing Strategic Partner Agreements 2.Securing the support of a major US financial partner 3.Listing the company on the Toronto Stock Exchange 4.Generating revenues with our products 5.Promoting the Sideware Store 6.Increasing Investor awareness" Ouch... looks like oh fer six on those "milestones" (OK... maybe I'll give you a half a point each for numbers four and five... I'm feeling generous). Not to put too fine a point on it, but I think you can see why we as investors don't put too much stock (no pun intended) in Mr. Jones' "expectations." When we start to see releases and corporate updates which deal with the positive things that Sideware has done, as opposed to things Sideware will do, then you will see us and the market in general react with appropriate enthusiasm. I continue to be positive with regard to Sideware's prospects. I like the products, I like the development team, I like the potential in some of the buns in the oven, and overall, I like the BESTeam arrangement. However, profitability is an expectation of any company that endeavors to continue as a going concern, not an unexpected windfall which compels us as investors to fall all over ourselves congratulating management on their business acumen. As a corollary point, I find it interesting that you have chosen to take proactive action in stimulating conversation on this point. I consider this a deviation from your past modus operendi and it requires me to ask the question, "Why?" Are you taking a more active role in promoting Sideware? Your comments in regard to these thoughts would be most welcome and appreciated. Respectfully, Bill