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

To: C Bunka who wrote (573)	10/16/1998 11:28:00 PM
From: John B. Smyth	Read Replies (1) \| Respond to of 856

Hi Chris, glad to see you make the bottom line point. I can add that the wobbles are getting smaller and the line a little longer. I think we will be in full stride early next year. Note 4! You're thorough aren't you? The performance bond is against continuing projects. I cannot comment regarding the details of the other deposit at the present, other than to say it has no adverse relationship for the company. New orders continue to come in, but are under the $100K each. I have a dilemma, in that I don't want it to appear that we are excited about $50 and $60K orders when we have announced $1M to $5M contracts. A good indicator of how we are perceived, EDC is currently supporting us by way of guarantees and financing for contracts with a total value in the $6M range. They approved us yesterday for a bid bond on a $4.5M project in Asia. That brings their total exposure to the $10M level. That I believe, is an indication that we are maturing as a quality company and business in Asia is still important. I'm working on a few very exciting partnerships, one is oil and gas related, another is electricity and a third is technology related. I expect to make some announcements in these areas over the next few months. In my 3rd Quarter Report I touched on a new product which is in the Article 2 prototype stage. This development will propel our already commanding technology lead. So many good things are happening! Sorry to be evasive on the Note 4 issue Chris, but perhaps I can comment on it in the near future. Regards, JBS