20 March 2007

Hello members,

Steve Hoven with a quick update. ATSX came out with their 10Q after the bell yesterday. Art (The Ceo) should be coming out with a statement on the earnings later today I will be very interested in that.

I haven't had a chance to really read over the 10Q lots of information in it.

I am still on the road and my wife's grandmothers funeral is today so I won't have much time with that either. Plus I have to go to the hotel lobby in order access the net it doesn't work in my room. UGH!

Anyway in the 10Q I just skimmed it very quickly. As I said what interested me the most was the shares outstanding and BOY OH BOY did that disappoint in a major way.

Fully diluted they have 32 million shares outstanding now. Which is 13 million more than they had last quarter! I was hoping worst case 30 million over the next 6-12 months. And they continue to pay with stock. I didn't dive into all the stock options they gave out etc but will cover that in the future. The earnings were fine but the biggest chunk was from a reversal of dividend paying. Making $7 million in revenue and only doing about $19,000 in earnings isn't something to get to excited about.

As I said though the statement from Art will be the key. Hopefully they will give guidance on things for the current quarter and the next few quarters.

The thing is the company went from being a little over $6 million market cap yesterday to over $10 million marketcap today. Overnight they are worth $4 million more or 66% more yet the shareholders didn't take part in that gain at all. That is the most frustrating part for me.

As I said their could be a lot of other news in the report I just haven't had the time to look into it.

The share price will probably be determined based on Art's statement when that comes out I don't know but should be today I would think.

I am in from .23 so I am up as the close price yesterday was .33. The shares could go up I don't know or they could go down. I don't have a stop in and won't be in front of the computer today to watch the markets. .20 has good support if it were to come that way. Unless Art says the sales and revenue are declining or slowing down I still have confidence in the stock in the long term. Hopefully we can get more answers from Art today.

Have a good day.

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Thank you
Steve Hoven

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