Common use of Financial Statements and Public Reports Clause in Contracts

Financial Statements and Public Reports. The audited consolidated financial statements of TNCI for the fiscal year ended December 31, 1998 with accompanying notes, all as contained in TNCI's Annual Report on Form 10-KSB for the fiscal year ended December 31, 1998 delivered to IFT, fairly and accurately present, in all material respects, the financial condition, assets and liabilities of TNCI at such date, the results of its operation and changes in its financial position for the year ended on such date, in conformity with generally accepted accounting principles consistently applied. Such financial statements have been prepared from the books and records of TNCI in accordance with GAAP, on a consistent basis, and contain and reflect all necessary adjustments for a fair and accurate presentation of TNCI's financial condition as of the date of such statements and for the year ended on such date. TNCI has not had any disputes or disagreements during the last three (3) years with its auditors on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.

Financial Statements and Public Reports. The audited consolidated onsolidated financial statements of TNCI for the fiscal year ended December 31, 1998 with accompanying notes, all as contained in TNCI's Annual Report on Form 10-KSB for the fiscal year ended December 31, 1998 delivered to IFT, fairly and accurately present, in all material respects, the financial condition, assets and liabilities of TNCI at such date, the results of its operation and changes in its financial position for the year ended on such date, in conformity with generally accepted accounting principles consistently applied. Such financial statements have been prepared from the books and records of TNCI in accordance with GAAP, on a consistent basis, and contain and reflect all necessary adjustments for a fair and accurate presentation of TNCI's financial condition as of the date of such statements and for the year ended on such date. TNCI has not had any disputes or disagreements during the last three (3) years with its auditors on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.