S A ADVISORY
April 1998
Summer Portfolio 1997

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Summer Portfolio 1997 #1 and #2
Company Exchange & Symbol Featured Price/Date Gain or Loss % Current Price Highest Price Status
1 Visual Telephone NASDAQ BB - VTPI .10 (7-9-97) 10%L .09 S1/2@ 82¢ H/B
9-9-97 - 700%Gain
2 Semicon Tools NASDAQ BB - SETO .07 (7-9-97) 871%G .68 .75 B/H
3 Platforms International NASDAQ BB - PLFM .08 (7-9-97) 178%G .195 .52 H/B
4 IEH Corp NASDAQ BB - IEHC .31 (7-9-97) 21%G .375 .875 B/H
5 Dale Systems NASDAQ BB - DALE .375 (7-9-97) 33%L .25 1.18 H/B
6 Diversified Corporate AMEX - HIR 5.00 (7-9-97) 110%G 10.60 11.00 B
7 Industrial Tech NASDAQ BB - INTI .18 (7-9-97) 0%L .18 .21 B
8 Computer Devices NASDAQ BB - CTDVB .40 8-6-97 22%L .31 .75 H
9 Inotek NASDAQ - INTK .94 (8-9-97) 31%L .65 1.25 H/B
10 Global Spill NASDAQ BB - GEGI .375 (8-20-97) 124%G .84 1 B/H
11 Technology General Corp NASDAQ BB - TCGN .31 (9-4-97) 13%L .27 .62 B
12 Lynton Group, Inc. PINKS - LYNG .69 (9-24-97) 9%G .75 1.62 B
13 Bonzo Electronics
International Dec 99 Warrants
NASDAQ - BNSWF 1.00 (10-6-97) 62%G 1 5/8 2.25 B/H
14 Payless Cashways, Inc. NASDAQ BB -PGSH 2 1/12 (12-15-97) 111%G 4.50 4.69 H/B
15 Epolin, Inc. NASDAQ BB - EPLN .33 (3-13-98) 36%G .45 .45 B/H
16 SC & T International NASDAQ BB - SCTI .12 (3-12-98) 4%L .115 .125 B

Opinion
VTPI took big profit - remains highly speculative - better than Vegas
SETO Winner with long-term potential - sky is the limit - our biggest winner in portfolio.
PLFM Interesting, but very risky - not fully reporting - like the wild west.
IEHC quality little company with poor IR - a blonde has more upstairs (we love blondes)
Dale Systems very cheap, but has a problem - management
HIR business is booming - has potential to move long-term - management are Texans have no interest in shareholders
INTI management believes a turnaround is in place - new products, new management, new building - needs more employees - looks very attractive - but risky
CTDVB never really liked management - they have now been removed - product is interesting - but needs dollars. If you sold at higher prices - congratulation
INTK management does not and never did care about shareholders -- from Texas
GEGI very pleased with progress - we think that GEGI is going to be a huge winner long term - so hold on and buy on weakness
TCGN looks very cheap, but needs patience. Has potential to be huge.
Lynton Group pink sheet opportunity - extremely cheap and one day should explode on the upside (hopefully before the asteroid collision of 2028)
BNSWF has potential, but not sure when
PCSH the largest revenues based BB stock - that is, $2.3 billion - long term, this one could be huge.
EPLN new recommendation - high quality mini-micro - a Harvard Business School grad would appreciate the text book balance and income statement
SCTI shareholders to date wished that they never bought it. We believe at current levels that the risk is minimal, while the upside is a 10 banger! Think of it this way. The best is the worst, while the worst turns out to be the best.

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April 1998 NEWSLETTER

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