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Technology Stocks : Top Image Systems Ltd. (TISA) -- Ignore unavailable to you. Want to Upgrade?

To: Fraser Parsons who wrote (113)	12/15/1998 12:54:00 AM
From: RagTimeBand	Respond to of 436

>>Do you think the warrant volume 40,000 at 0.156 might be related to the coverage. Could warrants have been part of some deal between Josepthal and TIS? 40,000 at such a low price is very unusual. That's been my accumulate price and I've never been able to pickup more than a few thousand (at a time) at that price.<< I haven't been following the warrants and have no knowledge of them so asking me is a waste of time. Based on what you've posted I can't help but wonder if it (the warrant volume & price) is more than just a coincidence. Sure wish there was a contact here in the U.S. where investors could get questions answered. I find this to be a frustrating situation. Regards - Emory

To: Fraser Parsons who wrote (113)	12/21/1998 10:12:00 AM
From: Skywatcher	Respond to of 436

We're starting to COOK HERE!!!! Target of 8! by our new analyst coverage and stock is up 1/2 this morning! TiS Receives 'Buy' Rating from Josephthal; Share Price is Estimated to Hit $8 by 1999 TEL AVIV, Israel, Dec. 21 /PRNewswire/ -- TiS - Top Image Systems Ltd. (Nasdaq: TISAF - news, TISWF - news) announced day that Josephthal & Co. Inc. has initiated coverage of the company with a ''Buy'' rating. Given the company's product positioning and the P/E discount to projected EPS growth rate, Josephthal & Co. Inc. rate the shares a Buy for investors seeking aggressive growth. The analysis provides projections on revenues, earnings per share (EPS) and share price. Revenue estimates call for an average annual growth rate of more than 70 percent for the next two years. At the end of 1998, projections offer an EPS of $0.29 with a jump to $0.50 for the end of 1999. Furthermore, TiS' share price is estimated to hit $8 by 1999. The report hails TiS as ''a rising player'' in the forms processing software segment of the automated forms processing (AFP) market and describes the company as ''well positioned to garner a meaningful slice'' of its sector. In addition, the analysis cites industry reports, which suggest that the AFP market will grow from an estimated $200 million annually in 1998 to well over $1 billion within the next years. Josephthal highlights TiS' technical advantages over its competitors, as well: ''Top Image provides integrators with a scalable, end-to-end solution, rather than merely AFP software components. This approach enables TiS to offer unparalleled throughput, providing users with what may be the best price/performance solution in the segment.'' Top Image's market strength and industry expertise are noted in the report with the company's success in winning sizable awards from the national census and IRS in Turkey, the Social Security Ministry in Chile and Blue Cross Blue Shield of Vermont, the company's first project in the U.S. Further validation to the company's technological edge is offered in the breadth of TiS' strategic partners and systems integrators. ''Given the company's product positioning and the shares' discount to our projected EPS growth rate, we are initiating coverage of TiS with a Buy rating for investors seeking aggressive growth.'' TiS - Top Image Systems, Ltd., develops and markets form processing, information recognition and data entry software, systems and technologies. The Company's software minimizes the need for manual data-entry by automatically reading and processing the information contained in forms, increasing data capture accuracy and the rate of information processing. TiS' award-winning AFPSPro software provides a complete, cost-effective, reliable solution for mid to high-volume production form processing. For more information on TiS, you can visit the Company's Web Site at tis.co.il. Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, risks in product development plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, general economic conditions and other risk factors detailed in the Company's United States Securities and Exchange Commission filings. TOP IMAGE SYSTEMS Price 12/11/98: $2-5/8 52-Week Price Range: $4-1/16 - $1-13/16 DJIA: 8821.76 S&P 500: 1166.43 Key Financial Statistics FY (12/31) 1997A 1998E 1999E 2000E Revenue (mil): $ 4.4 $ 6.7 $10.0 $15.0 EPS: $0.03 $0.29 $0.50 $0.85 P/E Multiple: NM 9.1x 5.3x 3.1x Gross Margin: 57% 75% 76% 76% Oper. Margin: (0.7)% 14.3% 17.3% 20.6% Net Margin: 2.4% 16.8% 19.3% 22.2% Next Qtr. (Dec) EPS Vs. Year-Ago: $0.08 vs. ($0.02) Two-Year Projected EPS Growth Rate: 71% Fully Diluted Shares Outstanding (9/30/98): 3.8 million Market Capitalization: $10 million Net cash per Share: $0.95 Book Value per Share: $1.57 1998E Return on Equity: 18.4% Long-Term Debt Outstanding: NM

To: Fraser Parsons who wrote (113)	12/21/1998 11:13:00 AM
From: Skywatcher	Read Replies (1) \| Respond to of 436

Fraser, there is NO DOUBT that they scooped all those warrants up in anticipationof this upgrade and surge...at least we got another 1/32 out of it so far today...looking good...and when the Blue Crosses start lining up...LOOK OUT BABY! chris