Technical Olympic USA, Inc. (TOUS)

[Duffau]

This week, monthly report shows:

July Sales 90 Million
gross profit 7.5 million
net -25 million

Inventory remaining 1.1 billion

If the real estate market starts turning up, then it should be easy to turn the business around and start generating net profits again.

This is about where the plan suggested we would be at this time.

The lawsuit against the first lien holders is proceeding. Should go to trial in Jan or Feb.

The old shareholder lawsuit is proceeding but I don't think it will prevail as market conditions was reason for most of problems, don't you think?