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The Analysis!!

Description

RETIRED 7/14/99

WordCruncher Internet Technologies, Inc. (WCTI) develops multi-lingual search engine products in support of Internet, Extranet, and Intranet applications. These products are characterized by their ability to more quickly find relevant information and by their new and unique way of representing the information to the user. This method of representing information will save the user time and reduce the frustration inherent in existing search methods. With its multi-lingual capabilities, WCTI offers search solutions that truly set new standards while addressing the needs of the global community.

Current Situation

CEO Dan Lunt explained that "Spyhop'' describes what makes the WCTI technology different from other search engines. Traditional search engines provide only broad descriptions of sites, which users must randomly access to determine if the information is useful. WCTI search results show actual details from Internet sites. This enables users to determine if a site's information is relevant before they access an individual Web page. So in a very real sense, the WCTI engine lets user view or 'spy' data on a site before they have to link or 'hop' to it. WCTI is developing a business model for providing a general index and search technology for the Internet. The model includes content, advanced technological features, and a specialized user interface. The model is characterized by its ability to help users locate credible, relevant information.

However, as of April 13, 1999 the company is shifting the focus of the company as follows:

"WCTI is committed to delivering cutting-edge technology that provides unparalleled service to its users by making information easier to find and use," said Daniel Lunt, WCTI President and Chief Executive Officer. "Based on the dynamics of the Internet market, we believe the best application of our expertise and technology is a service tailored to the information needs of business professionals. In order to deliver this service, we've revised our development timeline and put in place a business plan which we expect will support a comprehensive product release in fourth quarter 1999."

WCTI will employ a revenue model that initially is comprised of both advertising and licensing revenue streams. Since searching is the most popular activity on the Internet, and WCTI's engine will accommodate many different search applications, there is sufficient flexibility to take advantage of additional revenue opportunities as the Internet matures.

Outlook

WCTI's model of searching the net in a multi-lingual capacity may be adversely affected by competition in the marketplace. For example, Altavista allows for language translation as you search and Northern Light displays the search results in a much more user friendly format than earlier search engines.

WCTI needs to develop a solid business plan quickly and get it to the market before others in the business steal their glory.

Company Management

James W. Johnston, Executive Vice President & COO
With 15 years of experience in all essential aspects of content presentation, analysis software and electronic publishing, Mr. Johnston has published numerous electronic texts using WordCruncher technology. His clients include the Winston S, Churchill Family Trust, the University of Southampton (UK) and Thiokol Corporation.

Kenneth W. Bell, Senior Vice President & Chief Financial Officer
Mr. Bell has nearly 25 years experience in a variety of finance and management positions. He was a commercial banker for 15 years prior to becoming Vice President and Treasurer of Bonneville Pacific Corporation in 1986. Since 1990, Mr. Bell has served as President of Kelmarc Corporation, a financial and management advisory company. During his career, Mr. Bell has participated in financial transactions in excess of $500 million, including initial and secondary offerings.

Peter Stoop, Vice President of Sales & Marketing
Mr. Stoop has more than 14 years of diverse management experience, including nine years between Data General Corporation, WordPerfect Corporation and Novell, Inc. He's held a wide variety of senior-level positions in marketing, strategic planning and business development, along with an MBA in marketing.

Martin E. Cryer, Vice President of Product Development
Mr. Cryer has 20 years experience in system design, architecture, and development. Prior to joining WCTI, he oversaw the Utah Research and Development Center for Siemens. Previously, he worked for 12 years in the UNIX Systems Group of Unisys Corp. Cryer graduated from Queen Mary College, University of London.

Disclaimer

Readers are urged to consult with independent financial advisors with respect to an investment in the shares mentioned herein. Investors should review a complete information package on WordCruncher which should include, but not be limited to, the Company's annual report, quarterly report, press releases, as well as all regulatory filings where applicable.

All information contained in this report should be independently verified with the Company mentioned herein. Any opinions expressed in this report are statements of judgment as of the date of publication and are subject to change without further notice, and may not necessarily be reprinted in future publications or elsewhere. Neither WrightStock nor its officers, directors, partners or employees/consultants accept any liability whatsoever for any direct or consequential loss arising from any use of this report or its contents.

In order to be in full compliance with the Securities Act of 1933, Section 17(b), WrightStock advises the readers of this document that it has  received no compensation of any form for its efforts in researching, writing, presenting and disseminating the information contained herein.