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TSI, Inc. (fka TSIA)

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TSI, Inc. (fka TSIA)

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TSI, Inc. (fka TSIA) RSS Feed

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Created
05/20/07
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AS OF SEPTEMBER 30, 2004; $24,642,102 Total Stockholders'Equity 10,381,739 Outstanding Shares $2.37 Stockholders'Equity/Outstanding Shares $18,685,184 of Total Stockholders'Equity is Cash. DESCRIPTION AND LINES OF BUSINESS TSI, Inc. (herein referred to as "TSI" or the "Company") was incorporated in 1958. A wholly-owned subsidiary of the Company, First Montana Title Insurance Company (FMTIC), is a title insurance company operating in that business in the State of Montana only. Through wholly-owned subsidiaries, FMTIC owns and operates title plants in two Montana counties. A subsidiary of FMTIC owns real property in Great Falls, Montana. During 2001 UAC, Inc., a subsidiary of the Company, through its wholly-owned subsidiary sold the title agency assets it owned and operated in Montana. During 1988 through 1991, UAC, Inc., primarily through its wholly-owned subsidiary, acquired residential rental units in Montana. TSI owns rental property in Helena, Montana and subsidiaries of the Company own rental property in Polson, Billings, and Great Falls, Montana, for a total of seventy two residential rental units with an average occupancy rate of 180 persons. TSI, Inc. and it's subsidiaries own two commercial buildings listed for rent. The Company's investments in rental properties is set forth in Note 8, Rental Property, of the Notes to Consolidated Financial Statements. The Company is a 92% owned subsidiary of M Corp, a financial holding company located in Great Falls, Montana. Transactions with the Company's parent company and its affiliates are set forth in Note 9, Related Party Transactions, of the Notes to Consolidated Financial Statements. The Company operates in a competitive business environment and is not dependent upon one or a few major customers. Management believes that TSI, Inc. is adequately insured in all respects. Information concerning the Company's industry segments is set forth in Note 11 (Information on Segments of Business) of the Notes to Consolidated Financial Statements. The Company and its subsidiaries employed three full time and fifty eight part time seasonal maintenance workers during 2003.
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