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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy) -- Ignore unavailable to you. Want to Upgrade?

To: Edward W. Richmond who wrote (677)	2/27/1999 2:18:00 PM
From: Edward W. Richmond	Read Replies (1) \| Respond to of 1208

I have taken a little time to review the financial statement for the first 3 quarters ending December 31, 1998. The results are given for the full nine-month period. The Q3 results are included in the numbers. I have taken some of the Q1-Q3 numbers and subtracted the Q1-Q2 numbers to isolate the Q3 results. I will share some of my observations/opinions in the next couple of posts. 1. Management discussion of the financials does not appear in this release. This appears to be a change from the report last year. This is unfortunate as the investor has to try to interpret the status of the company from hard numbers only. I would appreciate any information anyone may have as to whether or not such discussion is available and where it can be found. 2. Income tax was a much heavier hit in 1998($419,469 vs $150,000). 3. Revenues were up to $6,124,575 from $536,888. This does not represent much growth. However, we did relocate our manufacturing to Prescott. This would certainly interrupt production and, therefore, sales. We should note that revenue in Q3 were approximately $1,243,872 which reflects a slight drop from the rate seen in the first two quarters of this year. Probably the move etc. 4. Expenses for the 9 months of 1998 were almost $1.2M higher than the previous year even though the revenue only grew by almost $0.76M. However, the good news is that expenses for Q3 were approximately $1,243,872 a major decrease from the $3,609,584 for the two previous quarters combined. Controlling expenses is critical to the company and management is delivering in this area. In summary, while our revenues need to grow smartly, and I do expect that they will and are, our cost control could be instrumental in turning around TCT's fortunes and, therefore, ours as well. I will try to be a little briefer in my next posts. I would appreciate any discussion, disagreement or further enlightenment as we explore the basics of TCT and its operation. More later. Regards, Ed