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Here is one more: Technovision Systems TVS TVS will finish the year with well over $0.12 ESP Today TVS closed at $1.20 Shares issued: 9,837,188 tvs.net TVS is starting a very aggressive IPS acquisition program. To kick it off is a $800,000 Private Placement, which was subscribe to be many insiders... Here are a few News Releases on TVS _________________ The following summarizes financial results of the company's Uniserve Online Internet business for the nine months ended Feb. 28, 1999, from management prepared operating statements. The company had sales of $3,512,000, a gross margin of $1,857,000, earnings before depreciation and taxes of $1,141,000 and net earnings of $746,0000, eight cents per share after a deduction of $229,000 for income taxes. This compares with results for the nine months ended Feb. 28, 1998, in which the company had sales of $2,257,000, a gross margin of $1,013,000, earnings before depreciation and taxes of $630,000 and net earnings of $448,000 with no deduction for taxes. Results for the third quarter ended Feb. 28, 1999, were as follows: sales were $1,252,000, the gross margin was $673,000, and earnings before depreciation and taxes were $396,000. This includes revenue from the acquisition of Sunshine Net Inc., of $68,000, which occurred in the last month of the quarter. The company has entered into an exclusive agreement to supply Internet access to customers of Local Net Communications of Jacksonville, Florida. Local Net, owned by Ted Turner Jr. and Jim Palmer, is one of the multi-level marketing companies in the United States which sells products and services related to Internet access. Local Net sells access to the Internet and related hardware products including Internet TV set top boxes. Local Net will sell Technovision's Internet access exclusively in British Columbia at rates which permit Technovision to maintain its present profit margins. Technovision provides local access at 150 points of presence across British Columbia. Local Net presently has over 500 members in British Columbia. The company has acquired for $40,000 the Internet business of Insidernet 95 Computers of Nelson, B.C., its local competition in that market area. Insidernet has 600 dial-up customers and 20 web-hosting customers. Insidernet's owner is a computer retailer in the area and will become a reseller of the company's dial-up services. The company has expanded its service to Salt Spring Island as of Dec. 1, 1998 at the request of approximately 100 Salt Spring Island customers. The company has completed its acquisition of Sunshine Net Inc., as announced in Stockwatch Jan. 19, 1999. Sunshine is the largest independent Internet service provider serving the Sunshine Coast and has gross revenues of approximately $65,000 per month from which the company anticipates achieving normal operating margins, in which event the acquisition would add approximately 2.7 cents per share in positive cash flow. Exchanges: V Address: 1 - 3180 262nd St Aldergrove BC V4W 2Z6 Phone 604 856 6281 Company Website: tvs.net _________________ A quick ISP comparison: Today: IDX Internet Direct opened at $5.00 with 35M share (before amalgamation) TVS Technovision closed at $1.20 with 11M share IDX Current # subscribers 110,000 TVS Current # subscribers 25,000 IDX Market Cap $225M TVS Market Cap $ 13M Both IDX & TVS are profitable... The Math here says, if TVS was to get the same valuation as IDX, based on subscribers and profitability.... TVS should be over $4.00 Today If you liked IDX... you'll love TVS. Check it out. DM | ||||||||||||
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