U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the Quarter ended September 30, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from__________ to __________
Commission file number 1-11568
TEKINSIGHT.COM, INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware 95-4228470
(State or other jurisdiction of (I.R.S Employer
Incorporation or organization) Identification No.)
18881 Von Karman Avenue, Suite 250,
Irvine, California 92612 (949) 955-0078
(Address of principal executive offices)
(Zip code) Registrant's telephone number, including area code
Check whether the Registrant (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months, and (2) has been subject to such
filings requirements for the past 90 days. Yes X No ___
The number of shares outstanding of the issuer's Common Stock,
$.0001 par value, as of November 11, 2000 was 16,423,350
<PAGE>
TEKINSIGHT.COM, INC. AND SUBSIDIARIES
INDEX
PART I - FINANCIAL INFORMATION
PAGE #
------
Item 1 - Consolidated Financial Statements
Consolidated Balance Sheets - September 30, 2000 and June 30, 2000 3
Consolidated Statements of Operations - For the three months ended
September 30, 2000 and 1999 4
Consolidated Statement of Cash Flows - For the three months ended
September 30, 2000 and 1999 5
Notes to Consolidated Financial Statements 6 - 8
Item 2 - Management's Discussion and Analysis of Financial
Condition and Results of Operation 9 - 11
PART II - OTHER INFORMATION 11
SIGNATURE 12
2
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TEKINSIGHT.COM, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
Unaudited
September 30, June 30,
--------------- ---------------
ASSETS 2000 2000
------ --------------- ---------------
<S> <C> <C>
CURRENT ASSETS:
Cash $ 5,075,000 $ 3,961,000
Accounts receivable, net of allowance for doubtful accounts $ 293,000
and $123,000 respectively 8,340,000 349,000
Prepaid expenses and other assets 1,297,000 310,000
Refund receivable 70,000 70,000
Note receivable - other 90,000 -
--------------- -------------
TOTAL CURRENT ASSETS 14,872,000 4,690,000
LONG -TERM NOTE RECEIVABLE 1,800,000 1,800,000
INVESTMENTS - Marketable Securities 3,015,000 3,629,000
PROPERTY AND EQUIPMENT, net
net of accumulated depreciation of $2,042,000 and $80,000, respectively 720,000 112,000
CAPITALIZED SOFTWARE COSTS, net of accumulated amortization of $2,027,000 and
$1,971,000 respectively 1,068,000 1,100,000
ACQUIRED CUSTOMER LIST, net of accumulated amortization of $193,000 10,617,000 -
PURCHASED SOFTWARE, net of accumulated amortization of $22,000 668,000 -
INTANGIBLE ASSETS, net of accumulated amortization of $74,000 and $13,000 respectively 7,796,000 1,148,000
DEPOSITS AND OTHER ASSETS 173,000 46,000
--------------- ---------------
$ 40,729,000 $ 12,525,000
=============== ===============
LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------
CURRENT LIABILITIES:
Accounts payable $ 6,811,000 770,000
Line of Credit 4,283,000 -
Accrued expenses 4,235,000 172,000
Deferred Maintenance 1,250,000 -
Income tax payable 18,000 -
Deferred interest 11,000 11,000
State audit reserves 1,740,000 1,722,000
Accrued termination costs 191,000 214,000
--------------- ---------------
TOTAL CURRENT LIABILITIES 18,539,000 2,889,000
--------------- ---------------
LONG TERM NOTES PAYABLE, net of current portion 18,000 18,000
--------------- ---------------
MINORITY INTEREST IN SUBSIDIARY 222,000 -
--------------- ---------------
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, $.0001 par value, 10,000,000 shares authorized,
2,189,800 shares issued and outstanding as of September 30, 2000. 1,000 -
Common stock, $.0001 par value, 100,000,000 shares authorized, 16,423,350 and
16,293,620 shares issued and outstanding as of September 30, 2000 and June 30, 2000. 2,000 2,000
Additional paid-in capital 35,891,000 20,763,000
Unrealized gain on securities 294,000 964,000
Accumulated deficit (14,238,000) (12,111,000)
--------------- ---------------
TOTAL STOCKHOLDERS' EQUITY 21,950,000 9,618,000
--------------- ---------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 40,729,000 $ 12,525,000
=============== ===============
</TABLE>
See notes to consolidated financial statements.
3
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TEKINSIGHT.COM, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
<TABLE>
<CAPTION>
FOR THE THREE MONTHS ENDED:
----------------------------------------
September 30, September 30,
------------------- -----------------------
2000 1999
REVENUES:
<S> <C> <C>
Product Revenue $ 4,384,000 $ -
Service Revenue 3,763,000 488,000
----------------- -------------------
Total revenues 8,147,000 488,000
----------------- -------------------
COST OF REVENUES:
Cost of product 3,577,000 -
Cost of service 2,718,000 210,000
----------------- -------------------
Total cost of revenues 6,295,000 210,000
----------------- -------------------
GROSS PROFIT 1,852,000 278,000
----------------- -------------------
OPERATING EXPENSES:
Selling expenses 1,654,000 15,000
General and administrative expenses 1,097,000 346,000
Research and development 833,000 136,000
Depreciation and amortization 414,000 6,000
----------------- -------------------
Total operating expenses 3,998,000 503,000
----------------- -------------------
LOSS FROM OPERATIONS (2,146,000) (225,000)
----------------- -------------------
OTHER INCOME (EXPENSE):
Interest Expense (88,000) -
Interest Income 39,000 163,000
----------------- -------------------
(49,000) 163,000
----------------- -------------------
LOSS FROM CONTINUING OPERATIONS (2,195,000) (62,000)
DISCONTINUED OPERATIONS
Gain from discontinued operations 68,000 -
----------------- -------------------
INCOME FROM DISCONTINUED OPERATIONS 68,000 -
----------------- -------------------
NET LOSS $ (2,127,000) $ (62,000)
================= ================
NET INCOME (LOSS) PER SHARE:
Continued (0.13) $ (0.01)
Discontinued - -
----------------- -------------------
NET LOSS PER SHARE $ (0.13) $ $ (0.01)
================= ================
WEIGHTED AVERAGE NUMBER OF SHARES 16,295,030 15,767,942
================= ================
NET LOSS $ (2,127,000) $ (62,000)
OTHER COMPREHENSIVE LOSS, NET OF TAX
Unrealized loss on available-for-sale securities (670,000) (485,000)
----------------- -------------------
COMPREHENSIVE LOSS $ (2,797,000) $ (547,000)
================= ================
</TABLE>
See notes to consolidated financial statements.
4
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TEKINSIGHT.COM, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
<TABLE>
<CAPTION>
Three Months Ended September 30,
----------------------------------
2000 1999
CASH FLOWS FROM OPERATING ACTIVITIES: --------------- ----------------
<S> <C> <C>
Net loss $ (2,127,000) $ (62,000)
--------------- ----------------
Adjustments to reconcile net loss to net cash used in
operating activities:
Depreciation and amortization 357,000 6,000
Amortization of capitalized software costs 57,000 119,000
Changes in operating assets and liabilities:
Increase in accounts receivable (3,056,000) (54,000)
Increase in interest receivable - 5,000
Additions to capitalized software costs (24,000) -
Decrease (Increase) in prepaid expenses 68,000 (240,000)
Increase in note receivable (40,000) -
Increase in other assets 130,000 -
Increase (Decrease) in accounts payable 825,000 (195,000)
Increase in deferred maintenance 56,000 -
Increase in state audit reserve 18,000 -
Increase in accrued expenses 176,000 40,000
Increase (Decrease) in income tax payable 18,000 (187,000)
Decrease in accrued termination costs (23,000) (16,000)
--------------- ----------------
Total adjustments (1,438,000) (522,000)
--------------- ----------------
NET CASH USED IN OPERATING ACTIVITIES (3,565,000) (584,000)
--------------- ----------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from purchase of subsidiary 1,313,000 -
Cash disbursements for the purchase of securities (30,000) -
Capital expenditures (270,000) (9,000)
Redeemed convertible preferred stock - (1,000,000)
Amortization of warrants - (6,000)
--------------- ----------------
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES 1,013,000 (1,015,000)
--------------- ----------------
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings under bank line of credit 1,116,000 -
Issuance of subsidiary securities, net of expenses 2,850,000 -
Issuance of common stock, net of expenses - 505,000
Costs of securities issued (300,000) -
--------------- ----------------
NET CASH PROVIDED BY FINANCING ACTIVITIES 3,666,000 505,000
--------------- ----------------
NET INCREASE (DECREASE) IN CASH 1,114,000 (1,094,000)
CASH AT BEGINNING OF PERIOD 3,961,000 7,618,000
--------------- ----------------
CASH AT END OF PERIOD $ 5,075,000 $ 6,524,000
=============== ================
</TABLE>
See notes to consolidated financial statements.
5
<PAGE>
TEKINSIGHT.COM, INC. & SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
September 30, 2000
(UNAUDITED)
1. BASIS OF PRESENTATION
The accompanying unaudited consolidated financial statements of TekInsight.com,
Inc. and Subsidiaries ("the Company") have been prepared in accordance with
generally accepted accounting principles for interim financial statements and
with the instructions to Form 10-Q and Article 10 of Regulations S-X.
Accordingly, they do not include all of the information and disclosures required
for annual financial statements. These financial statements should be read in
conjunction with the consolidated financial statements and related footnotes for
the year ended June 30, 2000 included in the Form 10-K for the year then ended.
The accompanying financial statements reflect all adjustments, which, in the
opinion of management, are necessary for a fair presentation of financial
position, and the results of operations for the interim periods presented.
Except as otherwise disclosed, all such adjustments are of a normal and
recurring nature. The results of operations for any interim period are not
necessarily indicative of the results attainable for a full fiscal year.
For further information, refer to the annual report on Form 10-K of
TekInsight.com, Inc. (the "Company"), dated October 11, 2000, for the year ended
June 30, 2000, and to the Forms 8-K filed with the SEC on August 28, 2000, as
amended by Form 8-K/A filed on October 27, 2000.
2. DEFERRED MAINTENANCE
At September 30, 2000, cash of $1,223,398 was received in connection with
maintenance agreements. Such cash will become available to the Company as
revenue is recognized according to the terms of the respective agreements.
3. CREDIT FACILITY
As a result of the merger with Data Systems, TekInsight Services assumed, and
the Company agreed to guaranty, Data Systems' existing credit facility with
Foothill Capital Corporation ("Foothill"). On September 30, 1998 Data Systems
and Foothill Capital Corporation entered into a credit facility ("Foothill
Agreement"). The Foothill Agreement provides for a revolving line of credit not
to exceed $15 million. The available line of credit at September 30, 2000,
according to the collateral formula, was approximately $337,000. Data Systems
may, at its option and subject to certain collateral requirements, increase the
line to $20 million during the term of the Foothill Agreement. Borrowing limits
under the Foothill Agreement are determined based on a collateral formula, which
includes 85% of qualified trade receivables. Borrowings under the Foothill
Agreement bear interest at 1% over Norwest Bank prime (10.5% at September 30,
2000) and have a term extending to September 30, 2001.
In connection with the Foothill Agreement, TekInsight Services is required to
maintain certain financial ratios. At September 30, 2000, due primarily to the
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<PAGE>
Company's loss from operations and merger related accruals, the Company was not
in compliance with the EBITDA and net worth covenants. The Company has received
waivers of such noncompliance from Foothill. The Foothill Agreement includes
restrictions with respect to dividend distributions by Data Systems.
4. MARKETABLE SECURITIES
Marketable securities have been classified as available for sale securities at
September 30, 2000 and, accordingly, the unrealized gain resulting from valuing
such securities at market value is reflected as a component of stockholders'
equity. On August 11, 2000, the Company purchased 67,690 shares of Business Talk
Radio for $30,000 as a strategic investment, at a price of $.4432 per share. The
Company recorded $25,000 for the value of stock options granted by a third party
in connection with the settlement of a claim.
5. COMMITMENTS, CONTINGENCIES, AND OTHER AGREEMENTS
As a result of the merger with Data Systems, the Company assumed certain
commitments that were obligations of Data Systems. Under an existing agreement,
the prior President of Data Systems, who is also a current director of the
Company, is receiving $20,000 per month for the twelve months following the
merger under the terms of an employment agreement with Data Systems. The Company
has assumed a marketing agreement with a company controlled by the prior
President, which calls for payments of approximately $126,000 over a six-month
period, which may be renewed for an additional six-month period. The Company has
assumed termination costs of two other employees of approximately $247,000,
which will be paid over the six months following the termination of employment.
In connection with an inquiry undertaken by the SEC regarding Data Systems, the
Company has provided for indemnification of legal expenses covering the former
officers of that Company. A provision of approximately $100,000 has been accrued
for these costs.
On August 27, 1998, J. Alan Moore filed suit in Mecklenburg County Superior
Court Division (Case No. 98-CVS-12286), North Carolina, against Data Systems
Network Corporation. The complaint alleges Data Systems did not act in good
faith and failed to pay commissions and expenses of which the plaintiff claims
entitlement. On July 28, 2000, a judgment was entered in favor of the plaintiff
for $572,469 plus reasonable attorney fees and interest. On August 24, 2000, the
Company filed an appeal. In order to proceed with the appeal, the Company may be
required to place a collateralized deposit in the amount of the award until the
appeal is completed.
6. STOCKHOLDERS' EQUITY
On September 30, 2000, TekInsight received an equity investment of $3,000,000
for 1,000,000 shares of preferred stock issued by its BugSolver subsidiary. For
one year, the shares are convertible at the holder's option for common shares of
BugSolver at a ratio of 1:1 or redeemable at the holder's option for 750,000
shares of TekInsight common stock. In the event that BugSolver merges with
another company, the preferred shares automatically become converted into
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<PAGE>
BugSolver common shares at a ratio of 1:1. In the event that the Company issues
additional BugSolver securities at a lower price during the following six
months, the equity holdings of BugSolver preferred shareholders would be
adjusted to reflect the price of the securities issued by BugSolver in its next
offering only. In connection with this financing, a finder's fee of $150,000 was
paid to a related party plus options to purchase 50,000 shares of BugSolver
common stock at $3.00 per share during the next five years.
In September 2000, TekInsight issued 129,730 shares of its common stock to
Amtech Associates, Inc. in consideration for a finders fee/consulting services
rendered to Data Systems in connection with the merger. These shares were issued
pursuant to exemptions from the registration requirements of the Securities and
Exchange Commission Act of 1933 pursuant to Regulation D. These shares are being
issued as of September 30, 2000.
7. ACQUISITION
On August 14, 2000, the Company acquired 100% of the net assets of Data Systems
Corporation. In connection with this acquisition, the Company assumed numerous
ongoing customer relationships, representing the majority of its revenues. The
value of the existing customer relationships has been established at
approximately $10,810,000, which is being amortized over seven years. The
Company also acquired certain software developed by Data Systems, which is used
in providing services to its customers. The value of such software has been
established at approximately $690,000, which is being amortized over four years.
Goodwill was recorded in the amount of $6,709,000, which is being amortized over
twenty years.
The following unaudited pro-forma information reflects the results of operations
of the Company as though the acquisition had been consummated as of July 1,
1999.
Three months ended September 30,
-------------------------------------------------
2000 1999
------------------------- -----------------------
Revenue $ 12,695,000 $ 12,491,000
========================= =======================
Net Loss $ (2,279,000) $ (32,000)
========================= =======================
Net Loss per share $ (0.14) $ 0.00
========================= =======================
8
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
OF FINANCIAL CONDITIONS AND RESULTS OF OPERATION
Forward-Looking Statements
When used in the Form 10-Q and in future filings by the Company with
the Securities and Exchange Commission, the words or phrases "will likely
result" and "the Company expects," "will continue," "is anticipated,"
"estimated," "project," or "outlook" or similar expressions are intended to
identify "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. The Company wishes to caution readers
not to place undue reliance on any such forward-looking statements, each of
which speaks only as of the date made. Such statements are subject to certain
risks and uncertainties that could cause actual results to differ materially
from historical earnings and those presently anticipated or projected, such as
demand for our products, size and timing of significant orders and their
fulfillment, the Company's ability to develop and upgrade its technology, the
Company's ability to compete in a highly competitive market and undetected
software errors and other product quality problems, and the Company's ability to
recover its investments in certain marketable securities . The Company has no
obligation to publicly release the results of any revisions, which may be made
to any forward-looking statements to reflect anticipated or unanticipated events
or circumstances occurring after the date of such statements.
General
In August 2000, TekInsight Services, Inc., a wholly owned subsidiary of
TekInsight, completed its merger with Data Systems Network Corporation ("Data
Systems"). As a result of the Data Systems acquisition being accounted for as a
purchase, the historical pre-acquisition financial results of Data Systems are
not included below with TekInsight's results of operation for the three months
ended September 30, 1999.
RESULTS OF OPERATIONS
THE THREE MONTHS ENDED SEPTEMBER 30, 2000 (THE "2000 THREE MONTH PERIOD") AS
COMPARED TO THE THREE MONTHS ENDED SEPTEMBER 30, 1999 (THE " 1999 THREE MONTH
PERIOD")
Revenues for the 2000 Three Month Period increased to approximately
$8,147,000 from approximately $488,000 for the 1999 Three Month Period. This
increase was due to the August 14, 2000 merger with Data Systems. The revenue
mix of product sales and provision of services was 53.8% and 46.2%,
respectively, for the 2000 Three Month Period.
Cost of revenues for the 2000 Three Month Period increased to
approximately $6,295,000 from approximately $210,000 for the 1999 Three Month
Period. This increase was due to the August 14, 2000 merger with Data Systems.
The cost of revenues as a percentage increased to 77.3% for the 2000 Three Month
Period from 43.0% for the 1999 Three Month Period. This percentage increase is
attributable to the addition of Data Systems' revenues after the merger. The
revenues generated from product sales normally produce a lower gross margin
9
<PAGE>
percentage when compared to service revenues. For the 2000 Three month Period,
the cost of product revenue was 81.6% of such sales and the service cost of
revenue was 72.2% of such sales.
Selling, general and administrative expenses for the 2000 Three Month
Period increased to approximately $2,751,000 from approximately $361,000 for the
1999 Three Month Period. This increase was due to the August 14, 2000 merger
with Data Systems, which brought with it a corporate infrastructure, including
the functions of finance, purchasing, human resources, sales and marketing. In
addition, TekInsight hired outside consultants to assist in developing the sales
strategy and marketing efforts needed to bring TekInsights' products and
services to market.
Research and development expense for the 2000 Three Month Period
increased to approximately $833,000 from approximately $136,000 for the 1999
Three Month Period. The increase is due to the costs associated with the
enhancements to BugSolver product and to development costs for the Company's
eGovernment modules. Previously, TekInsight capitalized the BugSolver costs
during the developmental stage and, now that the product is being introduced to
market, the costs are expensed when incurred. The eGovernment module development
costs began in the 2000 Three Month Period will continue during the following
quarter.
Depreciation and amortization expense for the 2000 Three Month Period
increased to approximately $414,000 from approximately $6,000 for the 1999 Three
Month Period. This increase was due to the August 14, 2000 merger with Data
Systems, which resulted in increased amortization expense on intangible assets.
Interest income for the 2000 Three Month Period decreased to
approximately $39,000 from approximately $163,000 for the 1999 Three Month
Period. This decrease is attributable to decreased interest earned on the
certificates of deposit investments, resulting from diminished working capital.
Interest expense for the 2000 Three Month Period was approximately $88,000. This
expense is a result of the line credit facility assumed in the August 14, 2000
Data Systems merger (See Note 3 "Credit Facility" to Part I, "Notes to
Consolidated Financial Statements").
Liquidity and Capital Resources
As of September 30, 2000 the Company had a working capital deficiency
of approximately $3,667,000, compared to working capital of $1,801,000 at June
30, 2000. This decrease in working capital is primarily due to the consolidation
with Data Systems, as a result of the merger, and to losses from operations of
approximately $2,146,000 for the quarter. In the merger, TekInsight assumed
approximately $7,353,000 in current assets, subject to current liabilities of
approximately $13,765,000.
The Company's Services group is currently producing profits from its
operations. The BugSolver subsidiary is investing in the market introduction of
its products, and will continue to require funding for the next few fiscal
quarters. The Company is also investing in the development of its eGovernment
modules and the related marketing costs for introducing and selling these
products. Investment in new technologies and products continues at approximately
the same rate as in prior quarters. With the formation of multiple products and
service offerings, and the organizations to support and market these products
and services, the Company has expanded its management and administrative
infrastructure, and has established a corporate office in Irvine, California.
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Based on these factors, management believes that the Company will incur losses
from overall operations during the next few fiscal quarters; however, such
losses are anticipated to diminish with the commencement of revenues generated
from software product sales, as well as from increased service offerings.
The Company may expand the scope of its product offerings by pursuing
acquisition candidates with complementary technologies, services or products.
Should the Company commence such acquisitions, it would finance the transactions
with its working capital and equity securities. The Company would attempt to
secure additional funding, including equity financing where appropriate, for
acquisitions. Based on current plans, the Company has sufficient cash resources
and liquidity to meet its anticipated short-term and long-term capital needs.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
On August 27, 1998, J. Alan Moore filed suit in Mecklenburg County
Superior Court Division (Case No. 98-CVS-12286), North Carolina, against Data
Systems Network Corporation. The complaint alleges Data Systems did not act in
good faith and failed to pay commissions and expenses of which the plaintiff
claims entitlement. On July 28, 2000, a judgment was entered in favor of the
plaintiff for $572,469 plus reasonable attorney fees and interest. On August 24,
2000, Data Systems filed an appeal. In order to proceed with the appeal,
Tekinsight may be required to place a collateralized deposit in the amount of
the award until the appeal is completed.
Item 2. Changes in Securities and Use of Proceeds
In September 2000, TekInsight received an equity investment of
$3,000,000 for 1,000,000 shares of preferred stock issued by its BugSolver
subsidiary. For one year, the shares are convertible at the holder's option for
common shares of BugSolver at a ratio of 1:1 or 750,000 shares of Tekinsight
common stock. In the event that BugSolver merges with another company, the
preferred shares automatically become converted into BugSolver common shares at
a ratio of 1:1. In the event that TekInsight issues additional BugSolver
securities at a lower price during the following six months, the equity holdings
of BugSolver preferred shareholders would be adjusted to reflect the price of
the securities issued by BugSolver in its next offering only. These shares were
issued pursuant to exemptions from the registration requirements of the
Securities Act of 1933 pursuant to Regulation D. In connection with this
financing, a finder's fee of $150,000 was paid to a related party plus options
to purchase 50,000 shares of BugSolver common stock at $3.00 during the next
five years, which options were issued pursuant to exemptions from the
registration requirements of the Securities Act of 1933 pursuant to Section 4(2)
thereof.
In September 2000, TekInsight issued 129,730 shares of its common stock
to Amtech Associates, Inc. in consideration for a finders fee/consulting
services rendered to Data Systems in connection with the merger. These shares
were issued pursuant to exemptions from the registration requirements of the
Securities Act of 1933 pursuant to Regulation D. These shares are being issued
as of September 30, 2000.
11
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
it's behalf by the undersigned, thereunto duly authorized.
TEKINSIGHT.COM, INC.
By:/s/James Linesch
--------------------
James Linesch
Chief Financial Officer
Date: November 14, 2000
12
