Dow Jones 8293.88 +224.02 11:00 am PST, April 1, 2003  NASDAQ 1394.98 +46.68 For info, visit access.smallcapnetwork.com S & P 500 881.41 +22.94 To be removed, please click here Russell 2000 375.30 +6.61 VOLUME 03: ISSUE 11  A penny for your thoughts The good thing about banging your head against a wall is that it feels great when you stop. The market equivalent to that anecdote would be a seller who relentlessly pounds the bid on a particular stock. When the seller is prepared to unload a good company's stock for a mere penny a share, buyers of that stock may also experience relief once the selling dries up.  On the face of it, investors should be annoyed at the recent progress of ThinkPath's (THTHF) share price. That said, the decline is the result of a large holder of shares who, earlier this year decided to liquidate his/her position, apparently at any price. The sell volume has been substantial and by extension there has been an attendant price drop.  The ironic thing is that the company itself is doing quite well and appears in no danger of disappearing. Prior to this sell program, ThinkPath shares were trading in a range of 4 to 7 cents.  Granted, ThinkPath has a lot of shares outstanding-around 130 million-but the value seems significantly higher than where the shares find themselves now.  At a cent a share, fully diluted, this is still only represents a $1.3 million market cap on a company doing annual sales of about $25 million. Speculative opportunity? It would seem so. Risk doesn't get much less than a penny a share. The end is not nigh ThinkPath, a global provider of technological solutions and services in engineering knowledge management, has a current market cap of $1.3 million. The 2002 fiscal year-end will be out in a couple of weeks, with the first quarter 2003 numbers to follow a fortnight or so later. The salient points for investors are as follows: · Over $8 million in contracts secured in the last six months. · Monthly burn rate-at $70,000-- is less than half of the monthly average during 2002. · The company expects to be cash flow positive by the end of the third quarter, 2003. · The Executive team is foregoing remuneration during this period of consolidation. · Bank indebtedness is currently $1.6 million, less than half of that noted during fiscal 2002. · The company has clients in the diversified verticals of aerospace, automotive, manufacturing and health care industries. · Deepening relationships and exploring new business opportunities with existing clients such as General Dynamics and others. In for a penny, in for a penny.... While the current environment is challenging for all companies, it appears that ThinkPath's size, and the presence of a large seller has worked in tandem to tank the shares. The reality is that the company, while speculative, has a real business and revenues, real clients and significant prospects for growth. For those investors who wish to participate in a growing knowledge management concern, we believe that ThinkPath shares --trading at 1 cent-- offer a compelling opportunity. Once the selling has diminished, we look for a return to the previous trading range-and hopefully above-and see the shares exhibit more balanced trading activity. Below is the full text version of Thinkpath's press release: Press Release Source: Thinkpath Inc. Thinkpath Awarded Engineering Support Contract Tuesday April 1, 7:00 am ET  New Client for Thinkpath Engineering Canada  TORONTO--(BUSINESS WIRE)--April 1, 2003--Thinkpath Inc. (OTCBB:THTHF - News), a market leader in Engineering Knowledge Management solutions, announced to-day the signing of an LOI with a Tier 1 automotive component design corporation. Thinkpath's engineering team will provide high-level design support for a minimum period of one year. The value of the win is estimated to be in excess of CAD$1.5 million and the ramp-up to its commencement will start later this month.  The client is a global leader in the design and manufacture of instrument and cockpit panels, plastic based trim and acoustic products for all of the major automobile manufacturers.  About Thinkpath Inc.  Thinkpath (OTCBB:THTHF - News) is a global provider of technological solutions and services in engineering knowledge management including design, drafting, technical publishing, e-learning, technical training and staffing. Thinkpath enables corporations to reinvent themselves structurally; drive strategies of innovation, speed to market, globalization and focus in new and bold ways. We are experts in the aerospace, automotive, manufacturing and health care industries. Headquartered in Toronto, Canada, Thinkpath has 270 employees in 6 offices across North America. Further information about the company, its services and products can be found at www.thinkpath.com.  Forward-looking Statements  This press release contains certain forward-looking statements regarding Thinkpath Inc., its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause Thinkpath's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by Thinkpath in this news release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Thinkpath's business.  Contact:  Vantage Point Capital Deborah Bayne, 905/844-3748 or 800/580-4382 vinfo@vantagepointcapital.com Source: Thinkpath Inc. As always, your thoughts are most welcome. Email them here: editor@smallcapnetwork.com We read them all. God bless these guys, and gals. D I S C L A I M E R : The SmallCap Digest is an independent electronic publication committed to providing our readers with factual information on selected  publicly traded companies. SmallCap Digest is not a registered investment advisor or broker-dealer. 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