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Gold/Mining/Energy : UNIQUE BROADBAND SYSTEMS (UBS:VSE) -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (160)	5/13/1999 9:19:00 PM
From: coolslug	Read Replies (1) \| Respond to of 682

For those who have not had a chance to read FORM 61: Unique Broadband Systems, Inc. Form 61 - Schedule C Management Discussion - Quarter-ended February 28, 1999 The net loss for Unique Broadband Systems, Inc. for the 3 months ended February 28, 1999 was $1,424,064 as compared to a loss of $901,260 for the same period in the prior year. After our second quarter which saw the Company deliver on its line of Digital Audio Broadcast ("DAB") products, efforts focused in the third quarter on being ready for anticipated new product shipments. Specifically, the increase in losses of slightly over $500,000 was primarily the result of the build-up of costs related to our contract with CD Radio. This order, worth a total of $5.1 million, was not yet complete at the end of the quarter and will be fully realized in the next 3 month period. This accounted for the large rise in both products costs and research and development salaries and wages in the quarter. In addition, increased travel, advertising and promotional costs were the result of the Company's attempts to increase its exposure in U.S. and foreign markets. Interest expense also increased in the quarter due to interest charges being recognized on our newly-issued debenture. Other administrative costs were generally stable in the period, reflecting management's continued efforts to regulate those costs within its control. As part of our focus on export markets, we have recently announced the opening of a satellite office in St. Petersburg, Russia. Presently, the Company has commenced the process of having its equipment commissioned for sale in Russia, and will be exhibiting several different products at a wireless show in Moscow in May, 1999. Utilizing our contacts within industry and government, we are hoping to diversify our sales network into the rapidly-emerging economies of eastern Europe. At the same time, the Company is presently in the process of bidding on two very significant North American contracts to supply equipment for satellite radio distribution networks. As a result of our efforts in this area, we are hopeful of entering-into several commercial partnerships. Management is excited about the many wireless broadband opportunities which lie ahead both in Canada and abroad. We are committed to expanding awareness of our products in both domestic and foreign markets and plan on increasing our exposure and sales of our line of DAB, MMDS, and MVDS units. We look towards the future with great anticipation, and are confident of repeating the strong sales performance realized in the past few months. On behalf of the Board, "ALEX DOLGONOS" Chairman, President and Chief Executive Officer April29,1999