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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (571)	10/16/1998 6:02:00 PM
From: C Bunka	Read Replies (1) \| Respond to of 856

FWIW, I'm cautiously optimistic regarding the financial statements and the fundamental progress I hope the company is making. The bottom line should be that we have a $400,000 turnaround so far this year compared to last. This should have softened the WC crunch from last year. It is baby steps, I know, but still we are wobbling forward in more or less a straight line these days. (Forgive the baby analogy: with two children under 3 years at home and my third on the way, I can think of little else.) Mayber it is a side issue since the dollar amount is rather small, but one of the items that I am curious about is note 4 from the last quarterlies: $20,000 that seems to be a performance bond, and $30,000 deposited with a government agency. Maybe John Smyth can let us know what these monies represent? Otherwise we need to see some sign of spark - some new orders or parternships or something. I think the market has begun to notice UIC and respects the small but steady improvement in the bottom line. Now we need further development to fuel buying interest and get this thing revved up.