<However if Tava fails to rally much further that should not be blamed solely on the shorts. It would clearly indicate a lack of conviction by longs - even at these lower levels.>
Well I'm definitely not one of those who has a lack of conviction with the company and it's potential. I just saw (and see) game playing going on with the stock until earnings are announced in September. Woman's intuition. I'd rather sit out on accumulation now, and enjoy life - take a vacation. I've had enough angst over past couple of weeks. Will be buying again. Just not planning on doing it now.
Here's why I'll be accumulating ...
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TAVA TECHNOLOGIES: Nov '97 thru July '98
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July 28 '98: CHEVRON Y2K MASTER CONSULTING AGREEMENT
ENGLEWOOD, Colo., July 28 /PRNewswire/ -- TAVA Technologies announced that it has executed a Year 2000 Master Services Contract with Chevron Products Company (NYSE: CHV - news) that covers the terms and conditions by which Chevron facilities around the world can purchase TAVA Y2K products and services. Every Chevron owned company or affiliate will be eligible to participate in this comprehensive program to inventory and audit embedded systems, determine the degree of compliance for Y2K and prepare programs for the necessary remediation.
The new contract is the result of a successful Y2K pilot project completed earlier this year. Work has already begun at Chevron's Richmond, California refinery, the Salt Lake City, Utah Refinery and the Chevron Chemical plant in Orange, Texas.
biz.yahoo.com
About Chevron: chevron.com
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July 27 '98: TAVA|R.W. BECK & LADWP TACKLE Y2K ISSUES
TAVA announced that its joint venture TAVA/R.W. Beck LLC has been selected to address Year 2000 embedded system issues for the Los Angeles Department of Water and Power, the largest municipality in the United States. Subject to City Council review, the LADWP resolved to authorize an agreement with TAVA/R.W. Beck LLC in an amount not to exceed $9 million for a period of 24
months. The resolution is a matter of public record.
Message 5322349
About LADWP: ladwp.com
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July 23 '98: RIO TINTO MASTER CONSULTING AGREEMENT
World's largest Metal & Mining Corporation
Pursuant to Master Consulting Agreement with Rio Tinto London Limited, TAVA will make Year 2000 products and services available at specified rates to 36 business units of Rio Tinto, including properties they manage. Rio Tinto is a world leader in finding, mining and processing the earth's mineral resources, including copper, iron, aluminum, industrial minerals, energy minerals and gold.
- Rio Tinto is the world's leading mining company.
- Group companies in 40 countries
- Employ some 51,000 people.
- 1997 Group sales were $9.2 billion & net earnings $1.2+ billion.
Message 5286316
About Rio Tinto: Message 5287225
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July 20 '98: TAVA|R.W. BECK & "Y2K AFRICA" (South Africa)
Recently signed teaming agreement with Y2K Africa, itself a joint venture of Kutlwano Engineering Consulting and Technology Service International, a subsidiary of Eskom, the state utility of South Africa ... From its inception March '98, TAVA/R.W. Beck, has executed agreements with 11 U.S. clients covering more than 40 sites. These include both independent power producers and public utilities. The venture is experiencing a strong increase in demand for its utility Y2K products and services and expects to add several additional large clients in the next three weeks.
Message 5248913
TAVA|R.W. BECK WEB SITE: tavabeck.com
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July 9, 1998: $33 Million in "Year 2000" Orders in Fiscal 1998
ENGLEWOOD, Colo., July 9 /PRNewswire/ -- TAVA Technologies TAVA a global supplier of integrated manufacturing systems, reported that it had received new orders of more than $33,000,000 for Y2k tools and services in its fiscal 1998 ending June 30, 1998. Of this total $25,000,000 was received in the company's fiscal fourth quarter.
The orders were split almost evenly in content between tools and services and include international and domestic engagements across a wide range of industries. Order values generally represent Plant Y2k One CD-ROM purchases, estimated compliance database reports, training and estimated services through the specific project stage. Typical order execution cycles range from 90 to 180 days.
Kevin Fallon, TAVA C.O.O. said, "Most all of this activity was for the initial inventory and assessment stages of client programs. These are necessary first steps before conversion planning and remediation. Conversion planning and remediation services generally will be covered by separate orders issued after the assessment process is complete." He added, "Our business pipeline continues to grow as does the scope of our opportunity. We expect new orders to continue at the current quarterly rate. We are continuing to build our organization to support this business level, and have recently opened new offices in both Minneapolis and Houston to better support our growing client base. Headcount at the close of June was 470, up from 320 on December 31, 1997. We continue to have good success with our recruiting efforts."
Jenkins noted, "Our database of compliance information on factory automation and process control elements now stands at more than 30,000 researched items and is increasing currently at more than 1000 items per week. The database, when combined with our tool based delivery, provides very significant cycle time reduction in the critical inventory and assessment stages of client programs. It is important to note that even with the increased database population, we still find 12% to 18% of that population to be either non-compliant or suspec."
Message 5140771 July 9, 1998
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July 7 '98: POLAROID CONTRACT
11 facilities around the world.
biz.yahoo.com July 7
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July 7 '98: MAJOR PHARMACEUTICAL CONTRACT
- 26 worldwide plants
- estimated value of more than $3,000,000 through inventory & assessment stage ONLY.
biz.yahoo.com July 7
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June 24 '98: COUNTY OF LOS ANGELES
Message 4998965 June 24, 1998
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May '98: MORE THAN $12,500,000 IN NEW Y2K ORDERS for Plant Y2K One software tools & services Include licenses of the company's methodology, database access fees and project services. Spanned 24 clients in industries including: automotive, food processing, chemicals, refining, pulp and paper, and mining & mineral processing.
Message 4699753 June 3, 1998
More than $12,500,000 in new Y2K orders booked.
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May 21, '98: BOISE CASCADE
Message 4542834 May 21, 1998
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TAVA|R.W. BECK teams with KEANE & DATA DIMENSIONS
Message 4373540 May 7, 1998
FYI - TAVA|BECK is a 50/50 partnership. TAVA supplies software for the utility industry contracts and Beck supplies manpower.
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April 23 '98: MASTER CONSULTING AGREEMENT - UP TO 1200 SITES
biz.yahoo.com
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April 17 '98: TAVA & COLORADO MEDTECH Announce Licensing Agreement - MEDICAL DEVICES
biz.yahoo.com
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March 5 '98: Multi-Plant Pilot Engagement with COCA-COLA
Message 3753944
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JANUARY '98:
- General Motors
- Kraft Foods
- Pillsbury
- TRW
- Occidental Petroleum
- UNOCAL
- Cargill
- Medeva Pharmaceuticals
- The US Mint
DECEMBER '97:
- Bristol-Meyers (125 sites worldwide)
NOVEMBER '97:
- Cyprus Amax Minerals
- Kennecott Energy
- Unilever Foods North America - TRIPLED Y2K Budget after TAVA Assessment
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FINALLY ... WHERE TAVA WAS ... WHERE TAVA IS ...
1,800+ PLANTS WORLDWIDE - CURRENT Y2K COMMITMENTS - Was
ONLY 90 in December '97
HANNIFEN UPDATE - June 5 '98:
Message 5117039
TAVA has signed contracts for "Year 2000" projects with over 60 companies, more than 10% of which are in the FORTUNE 50. This is not a typo. It is "FORTUNE 50", and not "FORTUNE 500". Most of the remainder are FORTUNE 500!
TAVA Y2K COMMITMENTS:
12/31/97: 90 plants
3/31/98: 340 plants
6/5/98: 1,740 plants
7/6/98: 1,777 plants (inc Polaroid & Major Pharmaceutical Co)
7/28/98 1,800+ plants (my guess based on July 20-28 news releases)
PHENOMINAL INCREASE IN SUCH A SHORT PERIOD OF TIME
HEADCOUNT: Now more than 480 (per 7/28 Chevron Press Release)
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FOR THOSE WHO WANT TO TALK $$$$'s ...
$33 MILLION IN Y2K ORDERS IN FISCAL 1998 July 9 '98
- Of this total $25,000,000 was received in the company's fiscal fourth quarter.
- The orders were split almost evenly in content between tools and services and include international and domestic engagements across a wide range of industries.
- Order values generally represent Plant Y2k One CD purchases, estimated compliance database reports, training & estimated services through specific project stage.
- Typical order execution cycles range from 90 to 180 days.
FYI - Booking Revenues
Message 5068234
Kevin Fallon, TAVA COO said, "Most all of this activity was for the initial inventory and assessment stages of client programs. These are necessary first steps before conversion planning and remediation. Conversion planning and remediation services generally will be covered by separate orders issued after the assessment process is complete."
"... recently opened new offices in both Minneapolis & Houston"
"Headcount at the close of June was 470, up from 320 on December 31, 1997. We continue to have good success with our recruiting efforts."
Jenkins noted, "Our database of compliance information on factory automation and process control elements now stands at more than 30,000 researched items and is increasing currently at more than 1000 items per week. The database, when combined with our tool based delivery, provides very significant cycle time reduction in the critical inventory and assessment stages of client programs. It is important to note that even with the increased database population, we still find 12% to 18% of that population to be either non-compliant or suspect."
Jenkins added, "In addition to the strong growth of our Y2k practice, we are now engaged in core business opportunities with our new client base. At the same time we are beginning to see strong interest in our Y2k product from non-traditional users these opportunities range from application by insurers in portfolio risk assessment to use by global financial institutions to address the Y2k readiness of their building management and security systems.
KEVIN FALLON (COO) - FROM TAVA'S LAST CONFERENCE CALL
But first, let me talk about a typical customer engagement. In a Y2K program there are four stages-inventory, assessment, conversion planning, and remediation.
Many of our customers have started with a pilot in order to evaluate their Y2K exposure.
The pilot usually includes inventory and preliminary analysis, and
may involve anywhere from one to 20 sites. The typical cost is approximately 100,000 per site, however, the range has been from 60,000 to 1 million.
For example, a small low-tech consumer products plant may be 60,000 whereas a pharmaceutical campus may be $1 million. At the end of the pilot, customers are still not able to accurately estimate their exposure.
However, at the end of the pilot there is empirical evidence of a sizable problem, a high probability of production outages, and if an outage occurs, a major business exposure.
At this point, which is where TAVA is today on our earlier pilots, we usually move into full assessment, conversion planning, and remediation of the pilot group and negotiations for the full-scale program.
Conservatively, a full-scale program per-site costs could be greater than eight times the cost per site for the pilot.
So let's follow the money here. Assume a consumer goods company has 50 plants.
- They launch a pilot in five plants.
- The tool and database per site sales are 20,000.
- Services for inventory and assessment per site is 60,000, totaling
- 80,000 per site or 400,000 for the pilot.
If one uses the 8 to 1 ratio, the cost would be 640,000 per site or 32 million for the total program.
And one may ask, How reasonable are these numbers?
General Motors recently announced that their program costs were currently estimated at the half billion-dollar range. And another company that we know of has increased its plant estimates- per plant estimates actually- to over 2 « million per plant.
Of course, chemical, petrochemical, and pharmaceutical sites are much more automated than the typical company outlined above. Therefore I feel our estimates are very conservative.
If one runs the math on the number of pilots that TAVA's currently engaged in, it doesn'ttake long to figure out that we need the solution provider network to increase our revenue bandwidth.
With this extended group in our arsenal, as we complete stage 3, conversion planning, TAVA will be able to segment the technology groups in the plants and either take remedial action ourselves, bring in solution providers, augment our program management, or work with the technology suppliers.
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MORE THAN $12,500,000 IN < i>NEW Y2K ORDERS FOR MAY '98 for Plant Y2K One(TM) software tools & services Include licenses of the company's methodology, database access fees and project services. Spanned 24 clients in industries including: automotive, food
processing, chemicals, refining, pulp and paper, and mining and mineral processing.
Message 4699753 June 3, 1998
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This is why I continue to maintain a long-term position in TAVA. I have several accounts. One that I don't touch. The other accounts I maintain core TAVA positions, but do occasionally trade around that position. I'm definitely NOT a daytrader. Trades are infrequent.
This information was compiled to help with D&D and is not an endorsement to purchase this stock. I look to the present and future. Some prefer to look only at the past.
To be objective, I will include posts from CALCULATED RISK. He's "short". I'm "long.
Software Capitalization and Amortization. CALCULATED RISK
Message 5215797
Bubble Evaluation CALCULATED RISK
Message 5217056
Earnings Projections CALCULATED RISK
Message 5328243
Many conversations have occured pro & con. I prefer to look to the future and have faith in TAVA's management. Make your own judgement call.
TAVA MANAGEMENT UPDATE
Message 5212847
I've also include Bill Wexler's (short) philosophy regarding "Year 2000".
Subject 15277
Wexler's favorite words are "fraud", "scam", "stock promotion".
You see his name (and a bunch of his buddies) on this thread lately cause he thinks this is his sandbox and he likes to get attention. SIGH - Internet and 1st amendment rights, blah blah
Cheryl |
