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This July 10th news release caught my eye: Management of Global Election Systems Inc. is pleased to report that shipments of its Accu-Vote Units for the 3 month period ended June 30, 1997 amounted to 571 Units. It is anticipated that earnings for the 3 month period will equal or exceed those for the 3 month period ended March 31, 1997, when Global reported earnings of (Cdn) $1,195,171 ($0.08/share) on shipments of 496 Units. Global develops, manufactures and markets a full array of products for the tabulation and management of elections, plus provides service and support from its own or dealer locations throughout North America on an international basis. Global's products are widely recognized as utilizing the most advanced technology in the marketplace. Global is listed for trading on the Toronto Stock Exchange. For further information, contact Clinton Rickards by telephone at (604) 261-6313 or by facsimile at (604) 261-9226. It looks like this company will earn $0.16/share for first 6 months. The shares hit a new high of $1.30 recently and have pulled back to $1.00. Q2 results will be announced soon. News release of Aug. 7 shows that they can sell preferred shares at a premium to market prices. Due to an increased volume of business and the addition of new products and services, Global Election Systems Inc. (``Global'') has retained Intercontinental Capital Partners, Inc. `Intercontinental'') to raise, on a best efforts basis, US$3,000,000 in the form of convertible preferred shares (the ``Shares''). The Shares will pay a quarterly dividend of approximately 6% per annum on their face value, and will be convertible into common shares in the capital of Global after the first year of their term. The conversion price of the Shares will be set at a premium of 25% to 30% above the 20 day closing price of Global's shares on the Toronto Stock Exchange prior to the settlement date for the sale of the Shares. This company appears to be a leader in it's field and with growing revenues and earnings it should see a big move this year. | ||||||||||||||
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