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Microcap & Penny Stocks : cube and mpeg vs. tri-vision and v-chip as an investment -- Ignore unavailable to you. Want to Upgrade?

To: stak who wrote (61)	8/29/1998 4:13:00 AM
From: stak	Read Replies (1) \| Respond to of 75

Tri-Vision International Ltd./Ltee today reported its unaudited financial results for the quarter ended June 30, 1998. In the first quarter, the Company has focused on the marketing launch of the V-chip product line without sacrificing the sales growth of the traditional CATV product line. The Company reported first quarter revenues of $1,698,000 compared to $1,060,000 in the first quarter of 1997. Product sales increased by approximately 60% over the corresponding period in 1997, reflecting an increased demand for the traditional CATV product line. Gross margins improved to 22.6% from 11.1% in the corresponding period in 1997, on account of sales shifts to higher gross margin products. Selling, general, administrative and research and development expenses, net of deferrals for product development and v-chip marketing expenses, increased from $340,000 in the first quarter of 1997 to $434,000 in the first quarter of 1998. This increase is primarily the result of a higher provision for doubtful accounts receivable and an increase in administrative staffing expense. The Company realized interest income of $97,000 in the first quarter 1998 as a result of additional cash provided through the public offering in early April, compared to a $5,000 interest expense in the corresponding quarter in 1997. The Company earned $26,000 ($.001 per share) for the quarter compared to a restated net loss of $155,000 ($.004 per share) for the corresponding period last year, mainly due to higher sales and improved margins. Financing activities in the first quarter 1998 amounted to $12,318,000 compared to $7,947,000 in the corresponding period in 1997. In 1997, common shares valued at $7,920,000 were issued to acquire the worldwide rights to the v-chip technology. The public offering, completed in the first quarter of 1998, raised net proceeds of $12,526,000. Operating activities used $3,672,000 in the first quarter 1998 compared to generating $1,932,000 in the corresponding period of 1997. Payment of $1,900,000 in notes payable for the v-chip license, $845,000 of v-chip marketing expense, and the purchase of $628,000 of v-chip components for inventory represent the majority of these operating expenditures in the first quarter of 1998. The Company's cash balance as of June 30,1998 amounted to $7,875,000 compared to bank indebtedness of $290,000 a year earlier. The major contributing factor to this increase in cash was the public offering completed in the first quarter of 1998. The financial results for the first quarter of 1997 have been restated to conform to the 1998 financial statement presentation.