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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON? -- Ignore unavailable to you. Want to Upgrade?

To: Coz who wrote (4518)	11/20/1998 6:44:00 PM
From: Coz	Read Replies (1) \| Respond to of 6931

I just got off the phone with JJ Jeffries at TSIS. As I had suspected in my first post on this subject, the delay of the AGM is directly attributable to the delays from the auditors. They had discussed holding the AGM in January, but felt that would have been worse than right before Christmas. I would have to agree with that as delays always seem ominous. I suggested some sort of telephonic AGM where we could participate, but that won't happen. In fact, it's not even clear yet as to whether they will record the AGM for playback over the phone. I would have thought this wouldn't even be an issue. Perhaps we should fax or phone is our wishes on this issue. I was told that, although nothing is set at this particular moment in time, once they get through this quarter, the will be hiring an American auditing firm, and this should eliminate these irritating delays in reporting. It was suggested to me that the reason it is taking so long to get a quality auditor is because they needed to get profitable first. They are profitable now, so this can now happen. The bottom line is hurry up and wait. They are working with retail brokers trying to generate buying interest in the interim, but we will likely need to patiently wait while the new business comes on line and the money works its way into the system. I hope this helps. And by all means let them know your opinion on whether or not you would like the AGM audio recorded so you can hear the proceedings. Be nice if they could send us each a tape huh.... Coz