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Microcap & Penny Stocks : TPII - Year 2000 (Y2K); Groupware; Client Server Migration -- Ignore unavailable to you. Want to Upgrade?

To: Moosie who wrote (7543)	6/10/1998 9:15:00 AM
From: MB	Read Replies (2) \| Respond to of 10903

Recap of TPI's NYC Show (Part 1): First off, I apologize for not being able to post yesterday. Anyway, a friend of mine and myself both attended the TPI investor show yesterday. Attendees were: Jim Janis, Paul Mighton, John McGee, and Samantha Chapman. Paul spoke for approx. 1/2 hr followed by a question and answer period that lasted for about the same amount of time. It began at around 12:15 - 12:20 and was over at about 1:10. After it was over, both of us sat with Paul and Samantha and asked ours as well as the rest of SI's questions... It was obvious that we were both individual investors, and I was pretty impressed that Paul took about 15-20 minutes of his time to talk to me. The rest of the time was spent talking to Samantha followed by a brief 5 minute chat with John McGee as we were leaving. We were the LAST people to leave the show. In order to try to not make this post a mile long, here's a recap of our conversations: 1. Jason B's question about moving to Nasdaq SC: My impression, they are going to be on AMEX. John McGee has already met with an AMEX representative and they have more of a relaxed requirement than Nasdaq. Minimum bid for AMEX is $3, BUT, John was told that AMEX might let that slide, if they can meet the other requirement of having a $4M company. TPI currently is not worth $4M, but they are in the process of negotiating 2 deals to buy other businesses out. Total of 5 deals in the works, but 2 look extremely promising. Why? 1. Paul needs qualified personnel - bad. (TPI currently needs approx 35-40 people. Their workforce right now stands at 42.) 2. This would enable TPI to meet the AMEX criteria. How would they acquire someone? Most likely a private placement of some sorts - John McGee. 2. David Tucker's concerns regarding the payment scheme for Vertex: First off, Paul explained that exclusivity for any type of software product is extremely rare, but TPI knows how powerful Vertex is and so they want exclusive rights to it. Payment is simple: 75% Bemer, 25% TPI. As far as the aggressive marketing campaign goes for the TPI/Bigisoft relationship, if any of you received TPI's folder earlier this year of the products they offer - its going to be done exactly like that. According to Paul, the day they signed Bemer, their phone was ringing off the hook with calls from companies wanting more info on it. They even received a call from the Canadian Treasury Board...(could get interesting) Other highlights: Conservative revenue estimates for year ended: 7/98 $2.2M (Bulk of it being in the 4th qtr) 7/99 $12M 7/00 $20M Again these were extremely conservative #'s that Paul is confident he can beat. TPI also plans on entering the Eurodollar Conversion market. According to Paul, it would take a long weekend to modify Century Scan to pick up currency amounts instead of searching for dates... Paul also believes that TPI's Century Scan is the BEST in the world - and knows of no other software like it. (TPI uses their own inhouse Century Scan to scan 100,000 lines of code per second during the Discovery phase to see what needs to be repaired. They then use the Best of Breed tools ie Vertex 2000, to remediate the code.) TPI opened up a Chicago office about 1 month ago. Doug Woolridge heads up that office. They plan on opening up more very soon. TPI only hires personnel as needed and only when the contracts are signed. Currently in the need of 35-40 people (That would DOUBLE their workforce). TPI was also just recently approached AGAIN by Profac to begin another Y2K job, but had to turn the work down for now until Aug 1. That's how busy things have become up there. As far as attendees, it was hard to hear the exact firm names from the people asking questions, so here goes: First Albany, Legg Manson, Hobbes Securities, Phillips Asset Mgmt. Co. (I probably butchered the last 2, but oh well. There were more but like I said, it was hard to hear...) I asked Paul if TPI would be off the BB in 6 months. His reply: YES. Typical profit margins: 40-70%. TPI is seeing a strong positive momentum now with Y2K contracts - unlike 6 months ago where not 1 was signed. (6 months ago IBM Canada was 97% off their Y2K revenue predictions, and KPMG Canada couldn't land a single deal, so it wasn't a TPI mgmt. problem.) I'll post more later on...