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EXHIBIT 5.1
ARMSTRONG, TEASDALE LLP Attorneys at Law
One Metropolitan Square, Suite 2600
St. Louis, Missouri 63102-2740
Phone: (314) 621-5070
Fax: (314) 621-5065
www.armstrongteasdale.com
June 15, 2000
Board of Directors
The Source Information Management Company
Two City Place Drive, Suite 380
St. Louis, Missouri 63141
We are counsel for The Source Information Management Company, a Missouri
corporation (the "Company"), in connection with the registration under the
Securities Act of 1933, as amended (the "Act"), of an aggregate of 112,987
shares of common stock, par value $.01 per share (the "Shares"), to be issued by
the Company to Donald & Co. Securities, Inc. upon the exercise of a warrant (the
"Warrant") and to Gary Yeager pursuant to an Asset Purchase Agreement dated
January 7, 2000 between the Company and Yeager Industries, Inc. (the "Asset
Purchase Agreement"). A Registration Statement on Form S-3 (the "Registration
Statement") with respect to the Shares is being filed concurrently herewith with
the Securities and Exchange Commission.
As counsel, we have reviewed the Warrant, the Asset Purchase Agreement and
the organizational documents of the Company, including the Articles of
Incorporation and Bylaws as amended to date, and the records of corporate
proceedings and other actions taken by the Company in connection with the
authorization, issuance and sale of the Shares. Where questions of fact material
to the opinions hereinafter expressed were not independently established, we
have relied upon statements of officials of the Company. We have assumed the
genuineness of all signatures and the authenticity of all items submitted to us
as originals and the conformity with originals of all items submitted to us as
copies.
Based upon the foregoing, we are of the opinion that:
1. The Company has been duly incorporated and is validly existing as a
corporation in good standing under the laws of the State of Missouri.
2. The Shares to be issued pursuant to the Warrant and the Asset Purchase
Agreement are duly and validly authorized.
3. When the Shares are issued by the Company in accordance with the
provisions of the Warrant and the Asset Purchase Agreement, such Shares will be
duly and validly issued, fully paid and nonassessable.
We hereby consent to filing of this opinion with the Securities and Exchange
Commission as an exhibit to the Registration Statement.
/s/ARMSTRONG TEASDALE LLP
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