Forum Archive Index - July 2001

["Jeff Dittus" <jdittus@worldnet.att.net>]

Shareholders

It is difficult to know why the stock price is falling and the volume is
high versus recent activity. It is certainly a difficult period for venture
funds and the public markets, especially in the technology sector.

IT Capital has sufficient resources and cash liquidity and no one should be
panicking about ITC going out of business. That is ridiculous. At the
current time, we have approximately $8 million of liquid resources.

Our portfolio is doing well. Virtual Spectator has signed a contract for the
Volvo Ocean race, Golf on ABC in the USA is going well and the British Open
is coming up this weekend.

DVI is now being run by David Hancock, a hardware expert. Mr. Hancock was
the gentleman who played such an integral role in bringing the apple
Macintosh in the early days to Europe and Asia. David also was the CEO of
Hitachi USA and did an incredible job in launching this business in the USA.
David presented to our board this Monday the outlook for DVI and its new
focus on five vertical markets, kiosks, military, financial services,
process control instruments, gaming. The monthly revenue rate is
accelerating, LG Philips the largest LCD manufacturer is making the product,
and things are going well for this early stage investment.

Terabyte is coming along solidly. They have reduced their burn rate, and the
order backlog is picking up. While they are not where we would like them to
be, things are getting better and the sales and marketing effort is more
coordinated and improving.

Golden Orb has recently signed a large contract to supply its product to a
large group of independent accountants. This really gives the company a
boost on a run rate basis, as it could be millions of dollars of revenue.
They are also making great progress with their new CEO Lindsay Pears at the
helm, ex Boeing.

At this point, there is not much news on Streamlink.

We will publishing our annual report soon, and within that, will be a
detailed update on the companies and our portfolio's performance.

We are actively looking at raising more capital and strengthening our
balance sheet further, as are all investment companies. Hopefully we will
have something to report in the medium term.

Jeff Dittus
CEO





Jeff Dittus
Chief Executive Officer
IT Capital Limited
200 W. Montgomery Avenue
Ardmore, PA 19003  United States
+1 610 645 4519 office
+1 610 476 8622 mobile


----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.