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Post# of 376163
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mcmike

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mcmike

Re: mcmike post# 5905

Sunday, 09/11/2005 9:55:05 PM

Sunday, September 11, 2005 9:55:05 PM

Post# of 376163
TNSX update: sale of previously restricted shares

A year ago they began a relationship with Mirador Consulting:
from the 4/18/05 10K
(iv) On August 12, 2004, we issued 600,000 shares of our restricted Common Stock to an unrelated third party to settle share subscriptions issued as payment for compensation regarding professional fees incurred during fiscal year ended December 31, 2004. We issued 600,000 shares at $0.06 per share as payment for an aggregate amount of $36,000. The shares of Common Stock were issued under the exemption from registration pursuant to Section 4(2) of the 1933 Securities Act.

In January 2005:
8/18/05 10Q
NOTE 4 - STOCKHOLDERS' DEFICIT
Common Stock
On January 14, 2005, the Company entered into a six-month consulting contract for business development services. In connection with the agreement, the Company issued 400,000 shares of common stock. On May 10, 2005, the Company cancelled this contract and cancelled 200,000 shares that were due on this contract. The Company valued these common shares at the fair market value on the date of grant of $0.16 based on the quoted trading price and recorded stock-based consulting expense of $42,667 through the date of cancellation.

Holders of restricted stock are limited, I was told, to selling no more than 1% of the outstanding shares in any given quarter.

I was told that Mirador began unloading up to 300,000 shares beginning on Friday September 2 and that they are nearly done.

If Mirador wants to continue to "dump" they will be able so sell another 300K shares in the 4th quarter and their last 200K in the first quarter of 2006.

The company's future has never been brighter, trebling revs. for the 2nd consecutive year and a lot of news/exposure is nigh:

They will be presenting in NYC this week (on 9/14-15 and 9/13)at 2 different investment conferences: ValueRich and Arch which will bring exposure to "the Street" for the first time in this kind of forum:
http://www.knobias.com/individual/public/news.htm?eid=3.1.069e2304025472c94ba1191a1bb933c7141e7f0aff....
http://www.knobias.com/individual/public/news.htm?eid=3.1.a4e23d7f53f3676ab698ddf72693546a54d02c7885....

They will be featured this fall on a Lou Dobbs segment on CNN:
http://www.knobias.com/individual/public/news.htm?eid=3.1.2bbe748c6793a8f7d14ebac3a3631fb6acf0ab6ad8....

They have a new IR relationship: Transax International Retains OTC Financial Network for Comprehensive Investor Relations Program http://www.knobias.com/individual/public/news.htm?eid=3.1.7ebe4df0be21101bb18641a704d90a85a183755e27....

and the OTC FN recently updated their profile of TNSX that lifted potential annual revenues to $15 million from $10: http://www.knobias.com/individual/public/news.htm?eid=3.1.3bf8658c2c8ce27507a0365845ccdfae1a441df0aa....

But for a onetime restructuring charge (71K) TNSX and an unrealized foregin currency translation loss(75K) TNSX would have reported a profit for the first time in the recently reported 2nd quarter: http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3643031

Transax International Reports Second Quarter Results: http://www.knobias.com/individual/public/news.htm?eid=3.1.113ffe6f0b50c25625a4d8888ece0d65e986102b08....

I spoke with the CEO, Stephen Walters, last week about the share price drop. He told me of his annoyance and indicated that had he known of the previous consultant's intentions he could have arranged to cross their shares for .20-.22.

I expect a nice rebound for the share price and encourage you to follow up with this and other DD posts I have generated.

Cautions:
The company is preparing an amended SB-2 as the previous one was withdrawn. Some may be frightened of the number of shares in the filing. I was told that the Grimes converts are friendly hands. No SEDA funds identified by this filing have yet been requested so there is no need to worry about any significant dilution AT THIS POINT IN TIME.

Should the company need to avail themselves of SEDA funds a dilutive event would be a risk, imo. I am hoping that between their relationship with the OTC FN and new contacts they will develop from their increasing exposure that, given their advancements in their business plan, less onerous financing will be forthcoming.

Their first U.S.-base contract, with Union Dental http://www.knobias.com/individual/public/news.htm?eid=3.1.d80d0a7fd30a27e5432eca59b1fac7b067014914fa.... will help cement their model for entering the North American medical insurance industry.

FD: I added to my position below .15

TRADING: "More Signal...less Noise"


LIVING: "One World, One Family, Warm Heart" Dalai Lama

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