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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: BobKuz who wrote (69185)	4/15/1999 4:54:00 PM
From: SilverFox77	Read Replies (3) \| Respond to of 119973

<<maybe an AFFI announcement with Citigroup forthcoming????>> AFFI Revenues for the quarter were $475 thousand, with a net loss of $3.8 million dollars, or $0.13 per share. For the comparable period in 1997, revenues were $1.4 million and the Company reported a net loss of $4.4 million, or $0.15 per share. The weighted average number of shares outstanding during the three months ended December 31, 1998 was 29.5 million, compared to 28.4 million for the same period in 1997. For the year, revenues were $2.7 million, with a net loss of $14.9 million, or $0.50 per share, compared to revenues of $4.1 million in 1997, with a net loss of $15.4 million, or $0.54 per share. The weighted average number of shares outstanding during the twelve months ended December 31, 1998 was 29.8 million, compared to 28.5 million for the same period in 1997. Murray Smith, President and Chief Executive Officer of Affinity, stated, "Even though it is not visible in our financial results, we made solid progress in 1998. One of our main focuses was on development of an indirect automobile loan processing system for the Citibank Auto Finance unit of Citigroup. The deployment and testing of the system by Citibank has taken longer than expected, but we are working closely with Citibank to ensure a successful deployment there. This system is also the foundation for our iDEAL indirect auto outsourced service, which will be released in the summer. "Affinity has made significant progress in other areas as well," Smith added, noting: - Dime - The Company's e-xpertLender system was enhanced in 1998 to handle the complete suite of unsecured loan types for the Dime Savings Bank of New York, and in 1999 home equity loans will be implemented as well. - Mortgage ALM - A field test of the mortgage-application-taking Automated Loan Machine was begun, with very encouraging initial results. - Patent - In February 1999 Affinity received a patent which provides certain proprietary rights covering fully automated loan processing through a consumer directed remote computer network interface. Affinity believes the patent covers fully automated loan processing over the Internet and other communication networks, including Automated Loan Machines. - decisioning.com - Affinity also announced in February 1999 that it had formed a wholly owned subsidiary, decisioning.com, to pursue commercialization opportunities related to its patent. decisioning.com will offer an outsourced real time decision service (rtDS) to Web-based lenders and plans to license Internet users of its patented technology.......... I THINK I'LL WATCH AND WAIT ON THIS ONE, BOB..... Regards, Lorraine