are you shaken?, page-12

18 million is alot of funding for a small little ATM company. In a country where competition is on the rise, however TSI has shown that it can 1) get contracts at decent levels and not get its pants pulled down by the banks 2)walk away from potentially bad deals which it did by not engaging in the public sector banks ATM tenders.

If TSI plays its cards right and they have not shown us any reason as to why they won't, they either 1) continue to get some contracts at decent margins and grow the business 2) wait for other ATM operators who have done bad deals to go bad before going in and buying ATM network assets on the cheap increasing its ATM fleet numbers and growing the business 3) grow the business until its quite a big business +6000 ATMs or 4) just wait for a consolidator within the ATM industry to come knocking with an offer. The fact that alot of shares are held by directors means that they wouldnt probably accept any lower type bids.