<PAGE>
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                  FORM 10-KSB

            [X]   ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF
              THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
                    For the fiscal year ended June 30, 1998

                                      OR

       [   ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
               SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
            For the transition period from __________ to __________

                        Commission File Number 0-12541

                                 SISCOM, INC.
            -------------------------------------------------------
            (Exact Name of Registrant as Specified in its Charter)

            Colorado                                      84-0899779
---------------------------------                  -------------------------
  (State or other jurisdiction                           IRS Employer
of incorporation or organization)                    Identification Number

         7464 Arapahoe Avenue, Suite B-17, Boulder, Colorado    80303
         -------------------------------------------------------------
         (Address of Principal Offices)                     (Zip Code)

      Registrant's telephone number, including area code: (303) 449-0442

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:

                          Common Stock, no par value
                          ---------------------------
                               (Title of Class)

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.                 Yes [X]  No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-B (Section 229.405 of this chapter) is not contained herein, 
and will not be contained, to the best of registrant's knowledge, in definitive
proxy or information statements incorporated by reference in Part III of this
Form 10-KSB or any amendment to this Form 10-KSB.  [ ]

The Registrant's revenues for the year ended June 30, 1998 were $1,136,800.

As of November 2, 1998 the aggregate market value of the Common Stock of the
Registrant based upon the average of the closing bid and asked prices of the
Common Stock, as quoted on the OTC Electronic Bulletin Board, held by
non-affiliates of the Registrant was approximately $590,177.

As of November 2, 1998  5,131,973 shares of Common Stock and 5,250,000 shares
of Preferred Stock of the Registrant were outstanding. 


<PAGE>
<PAGE>
                      DOCUMENTS INCORPORATED BY REFERENCE


     The Registrant incorporates by this reference the following:

                              PART IV - EXHIBITS

     1.   Incorporated by reference from the Company's Registration Statement
          on Form 10, as amended, SEC File Number 0-12541.


                          FORWARD LOOKING STATEMENTS

      In addition to historical information, this Annual Report contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, and are thus prospective.  The forward-looking
statements contained herein are subject to certain risks and uncertainties
that could cause actual results to differ materially from those reflected in
the forward-looking statements.  Factors that might cause such a difference
include, but are not limited to, competitive pressures, changing economic
conditions, factors discussed in the section entitled Management's Discussion
and Analysis of Financial Condition and Results of Operations, and other
factors, some of which will be outside the control of management.  Readers are
cautioned not to place undue reliance on these forward looking statements,
which reflect management's analysis only as of the date hereof.  The Company
undertakes no obligation to publicly revise these forward looking statements
to reflect events or circumstances that arise after the date hereof.  Readers
should refer to and carefully review the information described in future
documents the Company files with the Securities and Exchange Commission.


<PAGE>
<PAGE>
                                    PART I
     

ITEM 1.   DESCRIPTION OF BUSINESS
          -----------------------

History and Background
----------------------
     SISCOM, INC. ("SISCOM" or the "Company") was incorporated in the State of
Colorado on September 29, 1982 under the name Stockwatch International, Inc. 
The Company changed its name to Satellite Information Systems, Corp. on
December 10, 1982, and thereafter to Satellite Information Systems Company on
March 17, 1983.  During fiscal year 1997 the Company approved and adopted an
amendment to the Articles of Incorporation officially changing it's name to
"SISCOM, Inc.".  SISCOM currently operates as a software development company
that provides computer based products and related services to the electronic
media and sports industry.  During the fiscal year ended June 30, 1998, the
business of the Company continued to focus primarily on the development,
marketing and support of its standard software products, including NewsPro(-
Registered Mark-), Video Logging(-TM-) (Logging), Video Retrieval (Retrieval),
Video Archive(-TM-) (Archive), and its newest product, Coaching Decision
Support System (CDSS(-TM-)).  SISCOM also acts as a re-seller of hardware,
although such activities are viewed as ancillary to the Company's main
business.

Business of Registrant Products or Services
-------------------------------------------
     SISCOM's revenue has, and is expected to continue to be, primarily
generated through software product sales and services.

     The Company has dedicated substantial efforts in the last few years to
broaden the market for the Company's software and related services into many
new fields, including the sports industry.  SISCOM has completed installations
with three (3) of the major league sports entities: The National Basketball
Association ("NBA"), The National Hockey League ("NHL"), and FOX Sports
("FOX").  The NBA installation included the provision of full NewsPro(-
Registered Mark-) capabilities, including PC Logging(-TM-) and Video Archive(-
TM-) in support of their extensive video operation, while FOX represents a PC
Logging(-TM-) and Video Archive(-TM-) focused application.  The initial NHL
installation included the provision of the core NewsPro(-Registered Mark-)
software and later was expanded to include PC Logging(-TM-) and Video
Archive(-TM-).

     In 1994 SISCOM began the development and marketing of PC Logging(-TM-) in
conjunction with Video Archive(-TM-).  Together they form a personal computer
("PC") based suite of software designed to automate the process of logging
video tapes (shot listing), storing and subsequently retrieving the logs, and
managing the physical tape library.  PC Logging(-TM-) and Video Archive(-TM-)
have been generalized and installed for customers with sports applications
(e.g., FOX Sports, the NHL and the Portland Trail Blazers) and non-sports
applications (e.g., The Travel Channel). Currently, the PC Logging(-TM-)
software supports generic video logging as well as the specialized individual
requirements of basketball, baseball, hockey and football. Development is
continuing to include support for other sports, corporate video requirements,
and for the emerging digital video technologies.

     During early 1995, the Company entered into a strategic partnership with
FAST Electronics, U.S., one of the world's leading providers of non- linear
video editing systems for the professional and consumer markets.  FAST, a
German based company, has identified the U.S. market as a strategic growth
market and has indicated that it sees an alliance with the Company as an
effective way to penetrate the sports and broadcast segments of the U.S.
market.  For SISCOM, this partnership provides a perfect product line
extension for its other video related products.  Under the terms of the
agreement, SISCOM will adapt FAST's products to the newsroom automation and
sports markets and will maintain exclusive distribution rights for the
resulting products.  This agreement with FAST gives the Company access to a
leading proprietary hardware technology within the emerging digital video
industry, a benefit that is expected to afford the Company a distinct
advantage in the global market.

     In February 1996, the re-sale arrangement for Stadium Click Effects (a
computerized sound effects product for stadiums and arenas) between EMSI, Inc.
and the third party software developer was terminated.  The Company's initial
strategy of using this product to create a significant customer base was
generally successful with an installed base of over 140 customers.  The
Company has decided to redirect its resources toward developing and selling
higher margin video related software products to its customers.

     In Autumn 1996 and with the cooperation of the Portland Trail Blazers and
the Miami Heat of the NBA, the Company began development of CDSS, its new
software product for interpreting NBA game statistics and reporting them to
users in a unique, graphical presentation.  The initial customer base for the
product is NBA coaching staffs who have reacted very favorably to CDSS product
demonstrations.  The Company is currently combining CDSS with many of its
other software products (e.g., video logging, video retrieval, and FAST
editing) to create a comprehensive and powerful coaching tool for NBA coaching
staffs. For the first time, an NBA coach will have the ability to see raw game
statistics interpreted and graphically recreated according to his exact
specifications. In addition he will be able to retrieve and view clips in any
order of the actual game video footage related to those statistics within a
couple of hours after the game itself.  Eventually the Company anticipates
offering a slightly modified version of this product to NBA fans at the
consumer level.    

     DISTRIBUTION METHODS.  The Company is marketing and distributing its
current products, including CDSS, under the SISCOM name primarily because of
the strong name recognition SISCOM has in the marketplace.  The Company has
elected not to use its marketing subsidiary EMSI, Inc. for NBA or NewsPro(-
Registered Mark-) customers (which together represent the Company's current
focus) in order to avoid confusing customers.  The activities of EMSI, Inc.
curtailed sharply over the last few months of the fiscal year of 1996.  There
are no significant operations in the current year. 

     COMPETITION.  The Company has competitors for each of its product
offerings, many of whom are larger and possess resources significantly greater
than the Company's resources.  The Company is, however, confident that its
products can be sold effectively because each product can be demonstrated to
show unique and valuable advantages over competing products.

     MAJOR CUSTOMERS.  Management believes that SISCOM has consciously served
a niche market of specialized customers.  Because of its minimal marketing
efforts, the Company has historically had to rely on revenues from a few
substantial installations to large customers.  This reliance has resulted from
the Company's limited working capital rather than any limitation in the scope
of the potential markets and customers for the Company's products.  However
prospectively, management believes that the Company now has the products and
the customer contacts to appeal to a much broader customer base.

     PROPRIETARY INFORMATION.  The Company relies upon copyrights, trademarks
and trade secrets protection for its products.  The Company claims copyright
on all its published materials, including its guides, manuals and computer
software.  The Company also owns a federally registered trademark for the
product name NewsPro(-Registered Mark-), and claims common law trademark
protection for the product names P.C. Logging(-TM-), Video Archive(-TM-),
CDSS(-TM-) and FTM(-TM-).  The Company's copyrights and trademarks are
considered by the Company to be valuable property rights.  The protection
afforded by these intellectual property rights and the law of trade secrets is
believed by the Company to be adequate protection for its products.  However,
notwithstanding the Company's intellectual property rights, it is possible for
a competitor to develop near imitations of the Company's products,
implementing modifications, without violating those rights.

     RESEARCH AND DEVELOPMENT.  The Company plans to introduce additional
products and services as customer demand for such products and services, and
potential sales within specific market segments becomes evident.  As marketing
and use of the Company's products and services expand, new applications will
be developed revealing new product development opportunities.

     REGULATION.  The Company is a public company which files reports with the
Securities and Exchange Commission pursuant to Section 15(d) of the Securities
Exchange Act of 1934, as amended.  The Company's Common Stock is traded
over-the-counter and quoted on the OTC Electronic Bulletin Board under the
symbol "SATI".

     To the best of the Company's knowledge and belief, the Company is
currently in compliance with all Federal, State and Local laws and
regulations.  Compliance with the foregoing is not anticipated to have a
material adverse effect on the Company's earnings and/or competitive position
within the respective industries and will not result in increased capital
expenditures.  The Company currently is not subject to any Federal, State or
local provisions which have been enacted or adopted regulating the discharge
of materials into the environment, or otherwise relating to the protection of
the environment.

     EMPLOYEES.  The Company currently employs ten (10) full-time employees in
its Boulder, Colorado office.


ITEM 2.   DESCRIPTION OF PROPERTIES
          -------------------------

     The Company's corporate headquarters are located at 7464 Arapahoe Avenue,
Suite B-17, in Boulder, Colorado.  This property measures 3,000 square feet
and is leased at $3,510.88 per month, expiring June 30, 1999.  The Company has
the option to renew the lease for additional terms.  This facility is
considered to be adequate for the Company's current needs.

     The Company has various computer hardware, software and communication
equipment located at its Boulder office.  This equipment is used to develop
software, to demonstrate products to customers and to provide service to
customers.


ITEM 3.   LEGAL PROCEEDINGS
          -----------------

     Neither the Company nor any officer or director in his capacity as such
is a party to any pending litigation involving the Company, and no such
proceedings are known to be contemplated.


ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
          ---------------------------------------------------

     No matters were submitted to a vote of the Company's shareholders during
the quarter ended June 30, 1998.


<PAGE>
<PAGE>
                                    PART II


ITEM 5.   MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
          --------------------------------------------------------

     The outstanding shares of Common Stock are traded over-the-counter and
quoted on the OTC Electronic Bulletin Board under the symbol "SATI".  The
reported high and low bid and ask prices for the Common Stock are shown below
for the period from July 1, 1996 through November 23, 1998:

<TABLE>
<CAPTION>

                                              Bid                 Ask
                                      ------------------  ------------------
                                        High       Low      High       Low
                                       -------  --------   -------  --------
<S>                                    <C>       <C>       <C>       <C>    
       1997 FISCAL YEAR
            First Quarter               .4063     .1875     .50       .375
            Second Quarter              .625      .4063     .8438     .50
            Third Quarter               .625      .4375     .7813     .55
            Fourth Quarter              .375      .26       .5313     .35

       1998 FISCAL YEAR
            First Quarter               .26       .20       .35       .26
            Second Quarter              .40       .25       .45       .3125
            Third Quarter               .47       .28       .50       .37
            Fourth Quarter              .43       .29       .49       .34

       1999 FISCAL YEAR
            First Quarter               .29       .10       .35       .12
            Second Quarter              .29       .05       .35       .06
            (Thru November 23, 1998)    

</TABLE>

     The closing bid and ask prices of the Company's Common Stock as of
November 23, 1998 were $.05 and $.06 respectively.  The prices represented
above are bid and ask prices which represent prices between broker-dealers and
do not include retail mark-ups and mark-downs or any commissions. The prices
do not reflect prices in actual transactions.  As of November 23, 1998, there
were approximately 466 record owners of the Company's Common Stock.

     The Company's Board of Directors may only declare and pay dividends on
outstanding shares of Common Stock when all declared funds on the Company's
Preferred Shares have been paid, or the Company has set aside a sufficient
amount to pay them.  As of the date of this Report, no dividends have been
declared or paid on the Company's outstanding Preferred Shares.  (See
MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATION - Liquidity and
Capital Resources - June 30, 1998 Compared to June 30, 1997)


ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
          ---------------------------------------------------------

     The following discussion and analysis should be read in conjunction with
the Financial Statements and Notes thereto appearing elsewhere in this Report.

Results of Operations - Fiscal Year Ended June 30, 1998 Compared to Fiscal
Year Ended June 30, 1997
--------------------------------------------------------------------------

     During the fiscal year ended June 30, 1998, SISCOM generated revenue of
$1,136,800 with a resulting net loss of $460,100 compared to revenue of
$838,200 and net loss of $218,400 the previous year.

     Revenue
     -------
     The following table outlines the Company's revenue mix over the last two
(2) fiscal years.

<TABLE>
<CAPTION>

                                        Years Ended June 30,
                              ----------------------------------------
                                     1998                  1997
                              ------------------    ------------------
<S>                            <C>         <C>       <C>          <C> 

       Product Sales
          Software sales       $  228,000   20%      $  283,800    34%
          Hardware sales          273,700   24%         124,600    15%
       Software Services          635,100   56%         429,800    51%
                               ----------- ----      -----------  ----
          Total Revenue        $1,136,800  100%      $  838,200   100%
                               ----------- ----      -----------  ----

</TABLE>

     Product Sales were primarily to the sports industry and involved the sale
of proprietary software and computer hardware (on a re-sale basis).  Software
sales and software services revenues increased $149,500, from $713,600 for
fiscal 1997, to $863,100 for the twelve (12) months ended June 30, 1998, an
increase of approximately 21%.  This growth in revenue was the result of an
increased effort on the part of the Company to target the sports industry and
expand its customer base.

     SISCOM's hardware sales increased from $124,600 for the twelve (12)
months ended June 30, 1997, to $273,700 for fiscal 1998, an increase of over
100%.  The increase was the direct result of a stepped up effort to gain more
customers in the sports industry. 

     Costs and Expenses
     ------------------
     Cost of sales and services includes components for hardware sales, direct
labor and materials used in the manufacture of software, capitalized software
amortization and other expenses incurred to generate revenue. For the fiscal
year ended June 30, 1998, cost of sales and services was approximately 68% of
total revenue compared with 56% for the prior year.

     Gross margins were nearly 32% in fiscal 1998 compared to 44% in fiscal
1997.  This decrease in gross margin is attributable to the change in sales
mix between hardware sales and software sales and related services.  Hardware
sales have consistently had a substantially lower margin than software and
related services revenue over the years.  Revenue from hardware sales, as a
percentage of total revenue, increased from 15% in fiscal 1997 to
approximately 24% in fiscal 1998.  During this same period, software and
service revenue, as a percentage of total revenue, decreased from 85% in
fiscal 1997 to 76% in fiscal 1998, resulting in a decrease in gross margin.

     The following table outlines the Company's cost of sales components for
the last two (2) fiscal years.

<TABLE>
<CAPTION>

                                         Years Ended June 30
                              ----------------------------------------
                                     1998                  1997
                              ------------------    ------------------
<S>                            <C>         <C>       <C>          <C> 

  Hardware Cost of Sales       $  315,300   41%      $   98,000    21%
  Direct Labor and Materials      180,400   23%         162,000    35%
  Software Amortization           257,000   33%         193,000    41%
  Other                            21,000    3%          14,000     3%
                               ----------- ----      -----------  ----
       Total Costs of Sales    $  773,700  100%      $  467,000   100%
                               =========== ====      ===========  ====

</TABLE>

     Hardware Cost of Sales increased from $98,000 in fiscal 1997 to $315,300
in fiscal 1998, an increase of more than 200%.  The increase is due primarily
to the growth in the Company's customer base.  Typically, new customers
purchase hardware to run the Company's software programs.  Hardware sales,
while generally low margin sales, are used to support software sales and
services.  The cost of hardware increased from 21% of total cost of sales in
fiscal 1997 to 41% in fiscal 1998, and hardware was sold in 1998 at a negative
margin.  In the future, the Company intends to return to at least a small
positive gross margin on hardware sales. This increase in Hardware Cost of
Sales is primarily a result of the growth in first time customers, and due to
existing customers upgrading their equipment.  During fiscal 1998, the Company
continued to focus on providing business solutions through sales of its
software and services within the sports industry with hardware sales an
ancillary component of that solution.

     The cost of direct labor and materials includes employee hours spent
contract programming and installing, training, and supporting the company's
software applications as well as any materials and supplies directly used in
the process.  The total cost of direct labor and materials rose $18,400 or
roughly 11% between fiscal 1997 and fiscal 1998.  However, as a percentage of
total cost of sales, direct labor and materials decreased from 35% in fiscal
1997 to 23% in fiscal 1998, primarily as a result of increased hardware costs.

     Software amortization increased $64,000 in fiscal 1998 to $257,000 from
$193,000 in fiscal 1997, an increase of approximately 33%.  The Company
continues to emphasize software development and introduced a new digital video
management application in fiscal 1998.  Management expects a corresponding
increase in capitalized software creation costs and the related amortization
of those costs.  The Company amortizes its software over the shorter of its
estimated life or three years.

     Operating, general and administrative expenses increased by $178,000
during fiscal 1998, from $522,600 for the twelve (12) months ended June 30,
1997, to $700,600 in fiscal 1998, an increase of approximately 34%.  This
increase was primarily a result of the Company's increased travel costs of
approximately $60,000, health insurance of $20,000, supply and telephone
expenses of $20,000, compensation expense associated with the exercise of
options totaling $12,000, and other general increases associated with efforts
to increase the Company's customer base.

     Depreciation expense increased from $89,600 for the year ended June 30,
1997, to $127,800 for fiscal 1998, an increase of approximately 43%.  This
increase is attributable to sizable additions during the fiscal year to
property and equipment in order to upgrade the Company's in house software
development capabilities.

Liquidity and Capital Resources - June 30, 1998 Compared to June 30, 1997
-------------------------------------------------------------------------

     SISCOM's current working capital surplus of $67,400, represented by
current assets minus liabilities, shows a decrease over fiscal 1997's working
capital surplus of $157,500.  The decrease is primarily the result of
operating losses and significant investments in software enhancements in
excess of capital contributions from the sale of preferred stock.

     The Company's primary uses of cash and working capital during fiscal 1998
were the purchase of  capital assets of $ 191,900 which included upgrades to
the computer equipment for use in software development and customer support,
and the capitalized cost of computer software development of $345,600.

     During the third quarter of fiscal 1998, the Company entered into
agreements with two investors who each purchased 625,000 shares of Series A-1
Convertible Preferred Stock at a purchase price of $.40 per share for a total
investment of $500,000.  The two investors are subsidiaries of Global Equities
Corporation, the current holder of 4,000,000 shares of the Company's Series A
Convertible Preferred Stock.  The new shares carry the same rights and
preferences as the previously issued Series A Convertible Preferred Stock. 
Specifically, these shares carry a non-cumulative dividend at an annual rate
of $.0175 per share, which will only be paid out of the net profits or surplus
of the Company as determined by the Board of directors.  At June 30, 1998, no
dividends were declared or payable.  No dividends will be paid on the
Company's common stock, no distributions will be made on the Company's common
stock, and no shares of Company common stock will be redeemed, retired, or
otherwise acquired by the Company for valuable consideration until all
declared dividends on the Company's Preferred Shares have been paid, or the
Company has set aside a sufficient amount to pay them.  The Series A-1
Preferred Shares are convertible into the Company's common stock on a
one-for-one basis commencing the earlier of one year from the date of issuance
or the effective date of a registration statement registering for sale the
shares of common stock issuable upon conversion of the Series A-1 Preferred
and ending three years from the date of issuance.  Holders of Series A-1 have
the right to demand that the Company file a registration statement to register
for sale the shares of common stock received upon conversion.  All costs of
such registration shall be paid by the Company.  Conversion values shall be
adjusted for stock splits and combinations.  The holders of Series A-1 have
voting rights that are identical to the voting rights of holders of common
stock.

     The Company, as a result of new capital, continued sales of its software
products to the sports industry, and renewal of its maintenance support
services, believes it will generate sufficient cash flow to meet its current
operating needs.  
                                   
          Management believes that inflation has not had a material impact on
its results of operations.

Subsequent Event 
----------------

     The start of the 1998-99 NBA season has been delayed, indefinitely,
pending the resolution of various disputes between team owners and the NBA
Player's Association (the "NBA Lockout").  A significant portion of the
Company's business has historically involved transactions with certain NBA
teams, including the Portland Trailblazers, Miami Heat and Toronto Raptors. 
While the NBA Lockout has not, to date, materially affected the Company's
existing agreements with various NBA teams, protracted negotiations between
team owners and the Player's Association, resulting in a significantly
shortened or forfeited 1998-99 NBA season, could have a material adverse
impact on the Company's operations, and particularly on sales and/or renewals
of the Company's CDSS software product.  However, the Company believes that
any adverse effects of a lengthy NBA Lockout would be offset, somewhat, by
recent sales to NHL teams and at the collegiate level.  There can, however, be
no assurance that the Company will be able to continue its expansion into the
NHL or at the collegiate level, or that said expansion will be at a level that
is sufficient to replace revenues, if any, lost as a result of the NBA
Lockout.

     Other than the foregoing, management knows of no trends, or other
demands, commitments, events or uncertainties that will result in, or that are
reasonably likely to result in, a material impact on the income and expenses
of the Company.

Year 2000 Issue
---------------

     THE PROBLEM.  The Year 2000 Issue is the result of computer programs
being written using two digits rather than four to define the applicable year.
As a result, any of the Company's computer programs that have date sensitive
software may recognize a date using "00" as the year 1900 rather than the year
2000, which, in turn, could result in system failures or miscalculations
causing disruptions in the operations of the Company and its suppliers and
customers.

     THE COMPANY'S STATE OF READINESS.  The Company has instituted a Year 2000
Project. As part of the Company's Year 2000 Project, the Company has completed
its initial evaluation of current computer systems, software and embedded
technologies. The evaluation revealed that the Company's accounting software
is the only major resources that has Year 2000 compliance issues. This
resource will need to be either replaced or upgraded. Fortunately, the
identified software is an "off the-shelf" product with a Year 2000 compliant
version now available. 

     The Company has determined that there should be no material Year 2000
Issues for the products it is selling or has already sold, excluding issues
associated with the Microsoft Windows95(-Registered Mark-) operating system
which is incorporated into certain of the Company's products.  To the
Company's best knowledge, the minor Year 2000 issues associated with Microsoft
Windows95(-Registered Mark-) operating system will have no material impact on
customers running the Company's applications on the Windows95(-Registered
Mark-) platform.  However, should any issues arise, they will be addressed as
incurred.

     The Company has not, to date, contacted its significant suppliers and
large customers to determine the extent to which the Company is vulnerable to
those third parties' failure to remediate their Year 2000 compliance issues. 
The Company does, however, plan to contact its significant suppliers and large
customers as part of its Year 2000 Project. However, there can be no guarantee
that the systems of other companies on which the Company's business relies
will be timely converted or that failure to convert by another company, or a
conversion that is incompatible with the Company's systems, would not have a
material adverse effect on the Company and its operations.

     THE COSTS TO ADDRESS THE COMPANY'S YEAR 2000 ISSUES.  Expenditures in
1997 and 1998 for the Year 2000 Project have been insignificant.  Management
expects that completion of its Year 2000 Project will not result in
expenditures that are material to the financial statements.

     THE RISKS ASSOCIATED WITH THE COMPANY'S YEAR 2000 ISSUES.  The Company's
failure to resolve Year 2000 Issues on or before December 31, 1999 could
result in system failures or miscalculations causing disruption in operations,
including, among other things, a temporary inability to process transactions,
send invoices, or engage in similar normal business activities. Additionally,
failure of third parties upon whom the Company's business relies to timely
remediate their Year 2000 Issues could result in disruptions in the Company's
supply of parts and materials, late, missed or unapplied payments, temporary
disruptions in order processing and other general problems related to the
Company's daily operations. While the Company believes its Year 2000 Project
will adequately address the Company's internal Year 2000 issues, until the
company receives responses from a significant number of the Company's
suppliers and customers, the overall risks associated with the Year 2000 Issue
remain difficult to accurately describe and quantify, and there can be no
guarantee that the Year 2000 issue will not have a material adverse effect on
the Company and its operations.

     THE COMPANY'S CONTINGENCY PLAN.  The Company has not, to date,
implemented a Year 2000 Contingency Plan. It is the Company's goal to have the
major Year 2000 Issues resolved by the end of fiscal 1998, with final Year
2000 verification and validation is scheduled to occur by the end of March,
1999.  The Company will, however, develop and implement a contingency plan by
the end of December, 1998, in the event the Company's Year 2000 Project should
fall behind schedule.

Private Securities Litigation Reform 
------------------------------------

     Certain statements in this Annual Report on Form 10-KSB which are not
historical facts are forward looking statements, such as statements relating
to future operating results, existing and expected competition, financing and
refinancing sources and availability and plans for future development or
expansion activities and capital expenditures.  Such forward looking
statements involve a number of risks and uncertainties that may significantly
affect the Company's liquidity and results in the future and, accordingly,
actual results may differ materially from those expressed in any forward
looking statements.  Such risks and uncertainties include, but are not limited
to, those related to effects of competition, leverage and debt service
financing and refinancing efforts, general economic conditions, changes in
gaming laws or regulations (including the legalization of gaming in various
jurisdictions) and risks related to development and construction activities.


ITEM 7.   FINANCIAL STATEMENTS
          --------------------

     The following financial statements are filed as part of this report:

     1.   Report of Independent Auditors;

     2.   Audited Consolidated Balance Sheet as of June 30, 1998;

     3.   Audited Consolidated Statements of Operations as of June 30, 1998
          and 1997;

     4.   Audited Consolidated Statement of Changes in Stockholders' Equity
          from July 1, 1996 through June 30, 1998;

     5.   Audited Consolidated Statements of Cash Flows for the years ended
          June 30, 1998 and 1997;

     6.   Notes to Consolidated Financial Statements.

     All schedules are omitted since the required information is not present
or is not in amounts sufficient to require submission of the schedule, or
because the information required is included in the financial statements and
notes thereto.


ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
          FINANCIAL DISCLOSURE
          ---------------------------------------------------------------

     There has been no change in, or disagreement with, the Company's
principal accountant during the Company's two most recent fiscal years or any
later interim period.


<PAGE>
<PAGE>
                                   PART III


ITEM 9.   DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS,
          COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.
          -------------------------------------------------------------

Directors and Executive Officers
--------------------------------
     The name, position with the Company, age of each director and officer and
the period during which each director and/or officer has served are as
follows:

<TABLE>
<CAPTION>

Director and/or Executive
Name and Position in the Company         Age          Officer Since
--------------------------------        ----         --------------
<S>                                      <C>          <C>          

Michael J. Ellis,                        51               1985
Chairman of the Board,
President and CEO

Robert D.S. Turner,                      59               1988
Director, Secretary
and Director of Marketing

Mark S. Boledovich                       46               1987
Director, V.P. of 
Field Operations

John R. Hart                             39               1996
Director

Maxim C.W. Webb                          37               1996
Director

</TABLE>

----------------------------

     MICHAEL J. ELLIS.  Mr. Ellis has been Chairman of the Board, President
and Chief Executive Officer of the Company since February, 1985.  Mr. Ellis
was a founder and the President of DI-SYS, Ltd., a wholly owned subsidiary of
the Company from December, 1982 to February, 1985.

     ROBERT D. S. TURNER.  Mr. Turner joined the Company as Director of
Marketing in February, 1990.  On August 24, 1990, he was elected Secretary of
the Company.  Prior to joining SISCOM, from January, 1989 to February, 1990,
Mr. Turner had been Branch Manager of Structural Dynamics Research
Corporation, Englewood, Colorado, a manufacturer of computer software.  From
February, 1982 to December, 1988, Mr. Turner was Western Regional Manager -
Federal Sales, for Calma Company, a wholly owned subsidiary of General
Electric, engaged in the design, manufacture and sale of high performance
graphic systems.

     MARK S. BOLEDOVICH.  Mr. Boledovich was with DI-SYS, Ltd., a wholly owned
subsidiary of SISCOM, from September, 1984, until he became Vice President of
Field Operations for SISCOM in November, 1986.  For four (4) years prior to
joining the Company, he was Operations Manger for TENTIME, a computer
timesharing service bureau.

     JOHN R. HART.  Mr. Hart was appointed to the Company's Board of Directors
in November 1996, in conjunction with Global Equity Corporation's purchase of
4,000,000 shares of the Company's Series A Convertible Preferred Stock.  After
graduating from Pomona College in 1982 with a B.A. degree in Economics, he
began his investment career with a firm which was a pioneer in developing
computerized analytical systems for portfolio management and trading.  This
led to a partnership in investment banking firm of Detwiler, Ryan & Company, a
partnership that specialized in providing merger and acquisition advice and
institutional portfolio management consultation services.  Mr. Hart is
President, CEO, and a Director of PICO Holdings, Inc., a publicly traded
corporation listed on the Nasdaq National Market System, as well as various
subsidiaries of PICO Holdings, Inc.  He is also President, CEO and a Director
of Global Equity Corporation, a publicly traded corporation listed on the
Toronto Stock Exchange and the Montreal Exchange; and a Director of PC Quote,
Inc., a publicly traded corporation listed on the American Stock Exchange.

     MAXIM C. W. WEBB.  Mr. Webb was appointed to the Company's Board of
Directors in November, 1996, in conjunction with the Global Equity Corporation
transaction.  Mr. Webb currently serves as a Senior Investment Analyst with
Global Equity Corporation (f/k/a The Ondaatje Corporation), a Canadian
corporation having its principal offices in Toronto, Ontario, Canada.  Mr.
Webb joined Global Equity Corporation in 1993, and was initially responsible
for setting up Global Equity Corporation's Asian corporate finance activities. 
Prior to going to Global Equity Corporation, he worked for KPMG Peat Marwick
in its London and Toronto offices with responsibilities for managing a variety
of client merger and acquisition, corporate disposal and due diligence
assignments.  Mr. Webb graduated with a degree in Zoology from London
University in 1982 and qualified as a Chartered Accountant in 1987.        

     The executive officers of the Company are elected annually at the first
meeting of the Company's Board of Directors held after each annual meeting of
Shareholders.  Each executive officer will hold office until his successor is
duly elected and qualified, until his resignation or until he shall be removed
in the manner provided by the Company's By-laws.

     There were no family relationships among directors, executive officers,
or persons nominated or chosen by the Company to become a director or
executive officer.  Except for the appointment of Messrs. Hart and Webb to the
Company's Board of Directors in conjunction with the Global Equity
transaction, there were no arrangements or understandings between any director
or executive officer and any other person pursuant to which any director or
executive officer was elected as such.  See ITEM 12 - CERTAIN RELATIONSHIPS
AND RELATED TRANSACTION

     During the past five years, no director or officer of the Company has:

     (1)  Filed or has had filed against him a petition under the federal
bankruptcy laws or any state insolvency law, nor has a receiver, fiscal agent
or similar officer been appointed by, a court for the business or property of
such person, or any partnership in which he was a general partner, or any
corporation or business association of which he was an executive officer at or
within two years before such filings;

     (2)  Been convicted in a criminal proceeding or is a named subject of a
pending criminal proceeding (excluding traffic violations and other minor
offenses);

     (3)  Been the subject of any order, judgment, or decree, not subsequently
reversed, suspended or vacated, of any court of competent jurisdiction,
permanently or temporarily enjoining such person from, or otherwise limiting
his involvement in any type of business, securities or banking activities.

     (4)  Been found by a court of competent jurisdiction in a civil action,
the Securities and Exchange Commission or the Commodity Futures Trading
Commission to have violated any federal or state securities or commodities
law, which judgment has not been reversed, suspended, or vacated.

Compliance with Section 16(a) of the Exchange Act
-------------------------------------------------
     Section 16(a) of the Securities Exchange Act of 1934 (the "Exchange Act")
requires any person who owns more than ten percent of any class of any equity
security which is registered pursuant to Section 12 of the Exchange Act, or
who is a director or an officer of the issuer of such security, to file
reports of ownership and changes in ownership with the Securities and Exchange
Commission (the "SEC").  Directors, officers, and greater than ten- percent
shareholders are also required by SEC regulation to furnish the issuer of such
securities with copies of all Section 16(a) reports filed.

     Specific due dates for these reports have been established and the
Company is required to report any failure to file by these dates during the
last fiscal year.  All of these filing requirements were satisfied by the
Company's directors, officers and 10% holders.  In making these statements,
the Company has relied on the written representation of its directors and
officers or copies of the reports that they have filed with the Commission,
with copies to the Company.


ITEM 10.  EXECUTIVE COMPENSATION  
          ----------------------

     The following tables and discussion set forth information with respect to
all plan and non-plan compensation awarded to, earned by or paid to the Chief
Executive Officer ("CEO"), and the Company's four (4) most highly compensated
executive officers other than the CEO, for all services rendered in all
capacities to the Company and its subsidiaries for each of the Company's last
three (3) completed fiscal years; provided, however, that no disclosure has
been made for any executive officer, other than the CEO, whose total annual
salary and bonus does not exceed $100,000.

<PAGE>

<TABLE>
                                                TABLE 1
                                      SUMMARY COMPENSATION TABLE
<CAPTION>
                                             Long Term Compensation
                                           --------------------------
               Annual Compensation(1)            Awards           Payouts
           ------------------------------   -----------------  -------
                                      Other                               All
                                     Annual  Restricted                  Other
Name and                             Compen-    Stock  Options/  LTIP   Compen-
Principal            Salary  Bonus   sation   Award(s)   SARs   Payouts sation
Position     Year      ($)    ($)    ($)(1)      ($)      (#)     ($)     ($)
---------   -------  ------ ------   ------   --------  ------  ------  -------
<S>         <C>      <C>    <C>      <C>      <C>       <C>     <C>      <C>  

Michael J.
Ellis,       1998    120,000  -0-      -0-       -0-      -0-     -0-     -0-
Chairman,
President,   1997    120,000  -0-      -0-       -0-      -0-     -0-     -0-
and CEO
             1996     90,000  -0-      -0-       -0-      -0-     -0-     -0-

</TABLE>

------------------------------
<PAGE>

All executive officers of the Company participate in the Company's group
health insurance plan.  However, no executive officer received perquisites and
other personal benefits which, in the aggregate, exceeds  the lesser of either
$50,000 or 10% of the total annual salary and bonus paid during the respective
fiscal years.


1987 Nonqualified and 1988 Qualified Stock Option Plans
-------------------------------------------------------
     In 1987 the Company adopted a nonqualified stock option plan (the "1987
Plan") and in 1988 the Company adopted a qualified stock option plan (the
"1988 Plan"), both for the benefit of the Company's officers, directors and
key employees.  Under the 1987 Plan 157,500 shares of the Company's common
stock were reserved for  issuance.  The 1987 Plan expired in 1997.  The 1988
Plan expires in November, 1998 and includes 130,000 reserved shares.  Grants
under the Plans are to be issued at the fair market value of the shares on the
date of grant.  As of June 30, 1998, there were no options outstanding under
the 87 Plan or the 88 Plan.


1989 Qualified Stock Purchase Plan
----------------------------------
     In 1989, the Company adopted an Employee Qualified Stock Purchase Plan
(the "1989 Plan").  All full time employees of the Company who have completed
six (6) months of employment and own less than five percent (5%) of the
Company's common stock are eligible to participate in the 1989 Plan.  The 1989
Plan makes available to eligible employees who elect to participate through
payroll deductions 60,000 shares of the Company's authorized but unissued
shares of common stock.  As of the date of this Report, 2,000 of these shares
had been purchased under the 1989 Plan.  The purchase price of the common
stock purchased under the 1989 Plan is equal to eighty-five percent (85%) of
the average of the high and low trading prices of the Company's common stock
on the first or last business days of a six-month subscription period,
whichever is lower.


1994 Stock Incentive Plan
-------------------------
     On October 24, 1994, the Board of Directors of the Company approved and
adopted a Stock Incentive Plan (the "1994 Plan"), subject to shareholder
approval.  The 1994 Plan was subsequently approved by the Company's
shareholders at a Special Meeting of Shareholders on October 23, 1995.  A
total of 2,000,000 shares of the Company's common stock has been reserved for
issuance under the Plan.  At June 30, 1998, the Company had 1,334,500 options
outstanding with exercise prices ranging from $.20 per share to $.67 per
share.   Of these,  1,207,834 options are currently exercisable at a weighted
average exercise price of $.26 per share.  The remaining 126,666 options are
exercisable in the year ended June 30, 1999, at a weighted average exercise
price of $.39 per share.

     The following table sets forth certain information concerning the
exercise of incentive stock options during the last completed fiscal year by
each of the named executive officers and the fiscal year-end value of
unexercised options on an aggregated basis:

<TABLE>
                                    TABLE 2

              AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR
                         AND FY-END OPTION/SAR VALUES
             ----------------------------------------------------
<CAPTION>
                                                           Value of
                                           Number of      Unexercised
                                          Unexercised    In-the-Money
                 Shares                  Options/SARs   Options/SARs at
                Acquired       Value     at FY-End (#)  FY-End ($) (1)
               on Exercise   Realized     Exercisable    Exercisable/
Name               (#)          ($)     (Unexercisable)  Unexercisable
------------------------------------------------------------------------
<S>                <C>         <C>         <C>            <C>       

Michael J.         -0-         $-0-        583,334/      $35,000 (2)/
Ellis                                      (16,666)           -0-

------------------------------------------------------------------------
</TABLE>

------------------------------

(1)  The value of unexercised options is determined by calculating the
     difference between the fair market value of the securities underlying the
     options at fiscal year end and the exercise price of the options.

(2)  Mr. Ellis has 500,000 and 100,000 options exercisable at $.22 and $.374
     per share respectively. The fair market value of the securities
     underlying Mr. Ellis' options at fiscal year end was $0.29 per share
     based upon the average of the closing bid and ask prices of the Common
     Stock as quoted on the OTC Electronic Bulletin Board.  Accordingly, at
     fiscal year end, Mr. Ellis' options were worth $0.07 and $0.00 per share,
     respectively, or $35,000 in total.


<PAGE>
<PAGE>

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
          --------------------------------------------------------------

     The following table sets forth, as of November 23, 1998, and as adjusted
for the sale of Option Stock, the stock ownership of each person known by the
Company to be the beneficial owner of five (5%) percent or more of the
Company's common stock, all directors individually and all directors and
officers of the Company as a group.  Each person has sole voting and
investment power with respect to the shares shown, except as noted.

<TABLE>
<CAPTION>

                                             Shares Beneficially Owned
                                        ----------------------------------
Name & Address
of Beneficial Owner                         Number            Percent (1)
---------------------------------       ----------------------------------
<S>                                      <C>                 <C>          

Michael J. Ellis (2)                                               
7464 Arapahoe Avenue, Suite B-17                                   
Boulder, Colorado  80303                   1,387,162             12.39%

C.M. Capital Corporation
525 University Ave., Suite 1500
Palo Alto, California  94301                 700,000              6.25%

Robert D.S. Turner (3)
7464 Arapahoe Avenue, Suite B-17                                   
Boulder, Colorado  80303                     170,000              1.52%

Mark S. Boledovich (4)
7464 Arapahoe Avenue, Suite B-17                                   
Boulder, Colorado  80303                     362,880              3.24%

Maxim C.W. Webb (5)
875 Prospect Street, Suite 301
La Jolla, California  92037                5,250,000             46.88%

John R. Hart (5)
875 Prospect Street, Suite 301
La Jolla, California 92037                 5,250,000             46.88%

All Officers and Directors
as a Group (5 Persons)                     7,170,042             64.03%

--------------------------
</TABLE>

(1)  Shares not outstanding but beneficially owned by virtue of the
     individuals' right to acquire them as of the date of this Report, or
     within sixty (60) days of such date, are treated as outstanding when 
     determining the percent of the class owned by such individual and when
     determining the percent of the class owned by the group.  

(2)  Includes Incentive Stock Options exercisable to acquire up to 500,000
     shares and 83,334 shares of the Registrant's Common Stock at an exercise
     price of $.22 and $.374 per share, respectively.  Does not include
     Incentive Stock Options exercisable to acquire up to 16,666 shares of the
     Registrant's Common Stock at an exercise price of $.374 per share, which
     Options are subject to future vesting.

(3)  Includes Incentive Stock Options exercisable to acquire up to 25,000 and
     45,000 shares of the Registrant's Common Stock at an exercise price of
     $.20 and $.34 per share, respectively.  Does not include Incentive Stock
     Options exercisable to acquire up to 9,000 shares of the  Registrant's
     Common Stock at an exercise price of $.34 per share, which Options are
     subject to future vesting.

(4)  Includes Incentive Stock Options exercisable to acquire up to 100,000 and
     62,500 shares of the Registrant's Common Stock at an exercise price of
     $.20 and $.34 per share, respectively.  Does not include Incentive Stock
     Options exercisable to acquire up to 12,500 shares of the Registrant's
     Common Stock at an exercise price of $.34 per share, which Options are
     subject to future vesting.

(5)  Includes 5,250,000 shares of the Company's Series A Convertible Preferred
     Stock beneficially owned by Global Equity Corporation, a Canadian
     corporation ("Global") and 2 private U.S. companies affiliated with
     Global.  Messrs. Webb and Hart currently serve as executive officers of
     Global, and Mr. Hart also serves as a director of Global, and, as such,
     both would be deemed to exercise voting and investment control with
     respect to the shares of Preferred Stock owned by Global and the U.S.
     affiliates.  Messrs. Webb and Hart each disclaim beneficial ownership of
     the shares of Preferred Stock owned by Global and the U.S. affiliates for
     purposes of Section 16 of the Securities Exchange Act of 1934, as
     amended.


<PAGE>
<PAGE>

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
          ----------------------------------------------

     Formation of EMSI, Inc.
     -----------------------
     In February, 1995, the Company formed a subsidiary corporation.  The new
venture, Event Marketing Systems International, Inc. ("EMSI, Inc."), markets
software and hardware products to the sports industry.  EMSI, Inc. is owned
80% by SISCOM and 20% by four individuals.  The four individual owners include
Michael J. Ellis, who is also the president and founder of SISCOM, Cord
Periera, who is executive vice president of Diamond Sports, Douglas Piper, co-
founder and president of S.R.O Partners, and Kenneth Wilson, president of
Wilson Sports Marketing.

     Global Equity Corporation Transaction
     -------------------------------------
     On September 12, 1996, the Company entered into an agreement to sell
4,000,000 shares of  Series A Convertible Preferred Stock ("Series A Preferred
Shares") to Global Equity Corporation ("Global") for $1,000,000 (the "Global
Agreement").  The Company is obligated to pay a 7% non-cumulative annual
dividend on all of the outstanding Series A Preferred Shares.  Each of the
Series A Preferred Shares is convertible into a share of the Company's common
stock on a one-for-one basis commencing the earlier of (I) one year from the
date of issuance or (ii) the effective date of a registration statement
registering for sale the shares of common stock issuable upon conversion of
the Preferred Shares, and ending three years from the date of issuance. 
Pursuant to the terms of the Global Agreement, the Company has agreed that no
dividends will be paid on the Company's existing common stock, no
distributions will be made on the Company's common stock, and no shares of the
Company's common stock will be redeemed, retired, or otherwise acquired for
valuable consideration until all declared dividends on the Series A Preferred
Shares have been paid or the Company has set aside a sufficient amount to pay
them.  The holders of Series A Preferred Shares have voting rights that are
identical to the voting rights of holders of common stock.

     Global Equity Corporation (f/k/a The Ondaatje Corporation), is a Canadian
corporation having its principal offices in Toronto, Ontario, Canada.  As part
of the sale of the Series A Preferred Shares, and so long as Global owns any
Series A Preferred Shares, the Company has agreed to take all necessary action
to establish the size of its Board of Directors at five (5) directors and to
take all necessary and appropriate action to elect or appoint to the Company's
Board of Directors two representatives designated by Global.  Following
consummation of the sale of the Series A Preferred Shares, Global designated
Messrs. Webb and Hart as its representatives.  Messrs. Webb and Hart were
thereafter appointed to the Company's Board of Directors effective November
13, 1996, following the voluntary resignations of Charles Powell and Anthony
Accetta as directors.  Mr. Webb is currently Senior Investment Analyst for
Global, and Mr. Hart currently serves as Global's President and CEO.

     Issuance of Series A-1 Convertible Preferred Stock
     --------------------------------------------------
     On February 12, 1998, the Company issued 1,250,000 shares of Series A-1
Convertible Preferred Stock ("Series A-1 Preferred Shares") to two (2)
entities affiliated with Global Equity Corporation for consideration totaling
$500,000.  The terms and preferences of the Series A-1 Preferred Shares are
identical to the terms and preferences of the Series A Preferred Shares.


<PAGE>
<PAGE>

ITEM 13.  EXHIBITS, FINANCIAL STATEMENTS AND REPORTS ON FORM 8-K
          ------------------------------------------------------

FINANCIAL STATEMENTS

     The following financial statements are filed as part of this report:

     1.   Report of Independent Auditors;

     2.   Audited Consolidated Balance Sheet as of June 30, 1998;

     3.   Audited Consolidated Statements of Operations as of June 30, 1998
          and 1997;

     4.   Audited Consolidated Statement of Stockholders' Equity for the
          period from July 1, 1996 through June 30, 1998; 

     5.   Audited Consolidated Statements of Cash Flows for the years ended
          June 30, 1998 and 1997;

     6.   Notes to Consolidated Financial Statements.
     
EXHIBITS

     The following Exhibits are filed as part of this Report pursuant to Item
601 of Regulation S-B:

Exhibit No.    Title
-----------    -----

 *3.1          Amended and Restated Articles of Incorporation

 *3.1a         Articles of Amendment to Articles of Incorporation 

 *3.2          Certificate of Trade or Assumed Name

 *3.3          By-laws   

 *4.1          Specimen Common Stock Certificate

 *4.2          1987 Non-Statutory Stock Option Plan

 *4.3          1988 Incentive Stock Option Plan, incorporated by reference
               from the Company's Registration Statement on Form S-8 filed
               with the  Commission in June, 1989

 *4.4          1989 Employee Qualified Stock Purchase Plan, incorporated by
               reference from the Company's Registration Statement on form S-8
               filed with the Commission in March, 1990

 *4.5          1994 Stock Incentive Plan

**4.6          Certificate of Designation and Preferences related to Series A
               Convertible Preferred Stock

**4.7          Certificate of Designation and Preferences related to Series A-
               1 Convertible Preferred Stock

*10.0           Lease Agreement

*10.1          Cross-Receipt between the Company and C.M. Capital Corporation

**27.0         Financial Data Schedule

---------------------------------

*    Incorporated by reference from the Company's General Form for
     Registration of Securities of Small Business Issuers on Form 10-SB, as
     amended, SEC file number 0-12541.

**   Filed herewith.

REPORTS ON FORM 8-K

The Registrant did not file any Current Reports on Form 8-K during the Fourth
Quarter ended June 30, 1998.


<PAGE>
<PAGE>

                          Siscom, Inc. and Subsidiary

                       Consolidated Financial Statements
                              For the Years Ended
                            June 30, 1998 and 1997


<PAGE>
<PAGE>
                  INDEX TO CONSOLIDATED FINANCIAL STATEMENTS


                                                                          PAGE
                                                                          ----
Independent Auditor's Report . . . . . . . . . . . . . . . . . . . . . . . F-3

Consolidated Balance Sheet - June 30, 1998 . . . . . . . . . . . . . . . . F-4

Consolidated Statements of Operations - For the Years Ended
June 30, 1998 and 1997 . . . . . . . . . . . . . . . . . . . . . . . . . . F-5

Consolidated Statement of Stockholders' Equity - For the Period 
from July 1, 1996 through June 30, 1998. . . . . . . . . . . . . . . . . . F-6

Consolidated Statements of Cash Flows - For the Years Ended 
June 30, 1998 and 1997 . . . . . . . . . . . . . . . . . . . . . . . . . . F-7

Notes to Consolidated Financial Statements . . . . . . . . . . . . . . . . F-8


<PAGE>
<PAGE>

                         INDEPENDENT AUDITOR'S REPORT



Board of Directors
SISCOM, Inc. 
Boulder, Colorado


We have audited the accompanying consolidated balance sheet of SISCOM, Inc.
and Subsidiary as of June 30, 1998, and the related consolidated statements of
operations, stockholders' equity and cash flows for the years ended June 30,
1998 and 1997.  These financial statements are the responsibility of the
Company's management.  Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards.  Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement.  An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements.  An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation.  We believe that our audits provide a reasonable basis
for our opinion.

In our opinion, the consolidated financial statements referred to above
present fairly, in all material respects, the financial position of SISCOM,
Inc. and Subsidiary as of June 30, 1998, and the results of their operations
and their cash flows for the years ended June 30, 1998 and 1997, in conformity
with generally accepted accounting principles.


HEIN + ASSOCIATES LLP 

Denver, Colorado
September 18, 1998


<PAGE>
<PAGE>
                          SISCOM, INC. AND SUBSIDIARY
                          CONSOLIDATED BALANCE SHEET
                                 JUNE 30, 1998

<TABLE>
<CAPTION>

<S>                                                         <C>

                                    ASSETS
                                    ------
CURRENT ASSETS:                                                         
  Cash and cash equivalents                                 $    80,000 
  Accounts receivable trade, less allowance for 
     doubtful accounts of $2,400                                124,300 
  Inventory                                                      16,700 
  Prepaid expenses                                                3,300 
                                                            -------------
       Total current assets                                     224,300 

PROPERTY AND EQUIPMENT:
  Computer equipment                                            805,400 
  Office furniture and equipment                                 85,700 
  Less accumulated depreciation                                (547,400)
                                                            -------------
       Net property and equipment                               343,700 

SOFTWARE DEVELOPMENT COSTS, net of accumulated 
  amortization of $2,485,600                                    447,500 

OTHER ASSETS                                                      3,500 
                                                            -------------

TOTAL ASSETS                                                $ 1,019,000 
                                                            =============


                     LIABILITIES AND STOCKHOLDERS' EQUITY
                     ------------------------------------
CURRENT LIABILITIES:
  Accounts payable                                          $    62,000 
  Accrued liabilities and other                                  29,500 
  Unearned revenue                                               65,400 
                                                            -------------
       Total current liabilities                                156,900 

COMMITMENTS (NOTE 7)

STOCKHOLDERS' EQUITY:
  Preferred stock, no par value, 100,000,000 
     shares authorized;
     Series A convertible preferred stock, no par 
       value, 4,000,000 shares authorized, issued 
       and outstanding                                        1,000,000 
     Series A-1 convertible preferred stock, no par 
       value, 1,250,000 shares authorized, issued 
       and outstanding                                          500,000 
  Common stock, no par value; 100,000,000 shares 
     authorized; 5,131,973 shares issued and outstanding      1,950,900 
  Accumulated deficit                                        (2,588,800)
                                                            -------------
  Total stockholders' equity                                    862,100 
                                                            -------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                  $ 1,019,000 
                                                            =============

</TABLE>

      See accompanying notes to these consolidated financial statements.


<PAGE>
<PAGE>
                          SISCOM, INC. AND SUBSIDIARY
                     CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                      FOR THE YEARS ENDED
                                                           JUNE 30,
                                                 ----------------------------
                                                      1998           1997
                                                  -------------  -------------
<S>                                              <C>             <C>

NET REVENUES:
  Software and related services                  $    863,100    $   713,600 
  Hardware                                            273,700        124,600 
                                                 -------------   -------------
     Total revenues                                 1,136,800        838,200 

COSTS AND EXPENSES:                                                          
  Costs of sales                                      773,700        467,000 
  Operating, general and administrative               700,600        522,600 
  Depreciation                                        127,800         89,600 
  Minority interest                                         -         (2,500)
                                                 -------------   -------------
     Total expenses                                 1,602,100      1,076,700 
                                                 -------------   -------------

OTHER INCOME -
  Interest income                                       5,200         20,100 
                                                 -------------   -------------

NET LOSS                                         $   (460,100)   $  (218,400)
                                                 =============   =============

NET LOSS PER COMMON SHARE (BASIC AND DILUTED)    $      (0.09)   $     (0.04)
                                                 =============   =============

WEIGHTED AVERAGE COMMON SHARES AND 
  EQUIVALENTS OUTSTANDING                           5,113,000      5,074,000 
                                                 =============   =============

</TABLE>

      See accompanying notes to these consolidated financial statements.


<PAGE>
<PAGE>
                                       SISCOM, INC. AND SUBSIDIARY
                             CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
                         FOR THE PERIOD FROM JULY 1, 1996 THROUGH JUNE 30, 1998

<TABLE>
<CAPTION>
                                                                                                            TOTAL 
                                     PREFERRED STOCK             COMMON STOCK                               STOCK- 
                                -------------------------  -------------------------       ACCUMULATED     HOLDERS'
                                  SHARES        AMOUNT        SHARES         AMOUNT          DEFICIT        EQUITY 
                                -----------  ------------   -----------   ------------    ------------   ------------
<S>                             <C>          <C>            <C>          <C>              <C>            <C>

BALANCES, July 1, 1996                  -    $         -    5,067,687    $  1,931,400     $(1,910,300)   $    21,100 

     Proceeds from exercise 
       of warrants                      -              -       30,000           7,500               -          7,500 
     Issuance of preferred 
       stock                    4,000,000      1,000,000            -               -               -      1,000,000 
     Net loss                           -              -            -               -        (218,400)      (218,400)
                               -----------  -------------  -----------   -------------   -------------  -------------

BALANCES, June 30, 1997         4,000,000      1,000,000    5,097,687       1,938,900      (2,128,700)       810,200 

     Exercise of incentive 
       stock options                    -              -       34,286          12,000               -         12,000 
     Issuance of preferred 
       stock                    1,250,000        500,000            -               -               -        500,000 
     Net loss                           -              -            -               -        (460,100)      (460,100)
                               -----------  -------------  -----------   -------------   -------------  -------------

BALANCES, June 30, 1998         5,250,000    $ 1,500,000    5,131,973    $  1,950,900     $(2,588,800)   $   862,100 
                               ===========  =============  ===========   =============   =============  =============

</TABLE>

              See accompanying notes to these consolidated financial statements.


<PAGE>
<PAGE>

                          SISCOM, INC. AND SUBSIDIARY
                     CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                      FOR THE YEARS ENDED
                                                           JUNE 30,
                                                 ----------------------------
                                                      1998           1997
                                                 --------------  ------------
<S>                                              <C>              <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                       $   (460,100)   $  (218,400)
  Adjustments to reconcile net loss to net 
     cash from operating activities:
     Depreciation and amortization                    384,800        282,600 
     Issuance of common stock for services             12,000              - 
     Minority interest                                      -         (2,500)
     Loss on impairment of asset                            -         25,000 
     Changes in operating assets and liabilities:                            
       Receivables                                     93,800       (184,200)
       Inventories                                     11,200         (6,000)
       Prepaid expenses and other                       8,600          1,800 
       Accounts payable                                24,600       (137,300)
       Accrued liabilities                            (13,100)      (137,300)
       Unearned revenue                              (115,600)       (12,500)
                                                 -------------   -------------
     Net cash used in operating activities            (53,800)      (388,800)
          
CASH FLOWS FROM INVESTING ACTIVITIES:
  Capital expenditures                               (191,900)      (281,700)
  Capitalized software development costs             (345,600)      (254,700)
                                                 -------------   -------------
     Net cash used in investing activities           (537,500)      (536,400)

CASH FLOWS FROM FINANCING ACTIVITIES:
  Net proceeds from exercise of common 
     stock options                                          -          7,500 
  Proceeds from issuance of preferred stock           500,000      1,000,000 
                                                 -------------   -------------
     Net cash provided by financing activities        500,000      1,007,500 
                                                 -------------   -------------

NET (DECREASE) INCREASE IN CASH                       (91,300)        82,300 

CASH AND CASH EQUIVALENTS, 
  at beginning of period                              171,300         89,000 
                                                 -------------   -------------

CASH AND CASH EQUIVALENTS, 
  at end of period                               $     80,000    $   171,300 
                                                 =============   =============

</TABLE>

      See accompanying notes to these consolidated financial statements.


<PAGE>
<PAGE>
                          SISCOM, INC. AND SUBSIDIARY

                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
     ------------------------------------------

     NATURE OF OPERATIONS AND PRINCIPLES OF CONSOLIDATION - SISCOM, Inc.
     (SISCOM) was incorporated in the State of Colorado on September 29, 1982. 
     SISCOM operates as a software development company that provides computer
     based products and services to the electronic media and sports industry. 
     In 1995, SISCOM formed a new subsidiary, called Event Marketing Systems
     International, Inc. (EMSI).  Operations of EMSI were insignificant in
     1997 and 1998.  The consolidated financial statements include the
     accounts of SISCOM and EMSI.  SISCOM and EMSI are collectively referred
     to as the "Company."  All significant intercompany accounts and
     transactions have been eliminated in consolidation.

     INVENTORY - Inventory consists of finished goods.  The cost of finished
     goods is based on specific identification.

     PROPERTY AND EQUIPMENT - Property and equipment are stated at cost. 
     Depreciation of property and equipment is calculated using the straight-
     line method over the estimated useful lives of the respective assets
     (approximately 5 years).  The cost of normal maintenance and repairs is
     charged to operating expenses as incurred.  Material expenditures which
     increase the life of an asset are capitalized and depreciated over the
     estimated remaining useful life of the asset.  The cost of property and
     equipment  sold, or otherwise disposed of, and the related accumulated
     depreciation or amortization are removed from the accounts, and any gains
     or losses are reflected in current operations.

     SOFTWARE DEVELOPMENT COSTS - The Company capitalizes costs of producing
     software to be sold, leased, or otherwise marketed, incurred subsequent
     to establishing technological feasibility in accordance with Financial
     Accounting Standards Statement No. 86.

     Amortization of capitalized software development costs is computed on a
     product-by-product basis. The annual amortization is the greater of the
     amount computed using the ratio of current gross revenue for a product to
     the total of current and anticipated future gross revenue for that
     product or the straight-line method, not to exceed three years.  In
     addition, management periodically compares the unamortized capitalized
     costs for each product to the net realizable value of that product.  The
     amount by which the unamortized capitalized costs exceed the net
     realizable value is charged to operations.

     The total amount charged to expense in the statements of operations for
     amortization of capitalized software costs which is included in cost of
     sales was $253,000 and $193,000 for the years ended June 30, 1998 and
     1997, respectively.  

     Costs incurred in researching, designing and planning for the development
     of new software are classified as research and development expenses and
     are charged to operations as incurred.  Such amounts have been immaterial
     for the periods presented. 

     UNEARNED REVENUE - Unearned revenue primarily represents payments
     received on deferred maintenance contracts that has not been earned.  The
     amounts are amortized into revenue on a monthly basis, using the
     straight-line method, over the life of the contract.

     REVENUE RECOGNITION - Revenue from the sale of computer equipment and the
     licensing of the Company's proprietary software to end users,
     predominantly in the broadcast and sports industries, is recognized when
     the software is delivered and the Company has substantially performed all
     material obligations relating to the sale agreement and collectibility is
     deemed probable by management.  Revenue from software services is
     recognized ratably over its contractual period or as the services are
     performed.

     Costs for maintenance and customer support are charged to expense when
     the related revenue is recognized or when those costs are incurred,
     whichever occurs first.  The Company has adopted Statement of Position
     97-2 "Software Revenue Recognition," as of the beginning of fiscal 1998
     noting no material effect to the financial statements.

     INCOME TAXES - The Company accounts for income taxes on the liability
     method.  Deferred tax assets and liabilities are determined based on the
     difference between the financial statement and tax bases of assets and
     liabilities using enacted tax rates in effect for the year in which the
     differences are expected to reverse.

     STATEMENT OF CASH FLOWS - For purposes of the statement of cash flows,
     the Company considers all highly liquid debt instruments purchased with
     an original maturity of three months or less to be cash equivalents.  The
     Company paid no income taxes during the two year period ended June 30,
     1998. 

     USE OF ESTIMATES - The preparation of the Company's consolidated
     financial statements in conformity with generally accepted accounting
     principles requires the Company's management to make estimates and
     assumptions that affect the amounts reported in these consolidated
     financial statements and accompanying notes.  Actual results could differ
     from those estimates. 

     IMPAIRMENT OF LONG-LIVED ASSETS - During the year ended June 30, 1997,
     the Company adopted Financial Accounting Standards Board Statement 121
     "Impairment of Long-Lived Assets" (FAS 121).  In the event that facts and
     circumstances indicate that the carrying value of assets may be impaired,
     an evaluation of recoverability would be performed.  If an evaluation is
     required, the estimated future undiscounted cash flows associated with
     the asset would be compared to the asset's carrying amount to determine
     if a write-down to market value or discounted cash flow value is
     required.  No impairment expense was recognized for the years ended
     June 30, 1997 and 1998.

     STOCK-BASED COMPENSATION - During the year ended June 30, 1997, the
     Company adopted Financial Accounting Standards Board Statement 123
     "Accounting for Stock-Based Compensation" (FAS 123).  FAS 123 encourages,
     but does not require, companies to recognize compensation expense for
     grants of stock, stock options, and other equity instruments to employees
     based on fair value.  Companies that do not adopt the fair value
     accounting rules must disclose the impact of adopting the new method in
     the notes to the financial statements.  Transactions in equity
     instruments with non-employees for goods or services must be accounted
     for on the fair value method.  The Company has elected not to adopt the
     fair value accounting prescribed by FAS 123 for employees, and is subject
     only to the disclosure requirements prescribed by FAS 123.  

     LOSS PER SHARE - Loss per share is presented in accordance with the
     provisions of Statement of Financial Accounting Standards No. 128
     "Earnings Per Share" (FAS 128).  FAS 128 replaced the presentation of
     primary and fully diluted earnings (loss) per share (EPS) with a
     presentation of basic EPS and diluted EPS.  Basic EPS is calculated by
     dividing the income or loss available to common stockholders by the
     weighted average number of common shares outstanding for the period. 
     Diluted EPS reflects the potential dilution that could occur if
     securities or other contracts to issue common stock were exercised or
     converted into common stock.  Basic and diluted EPS were the same for
     1998 and 1997 because the Company had losses from operations and
     therefore, the effect of all potential common stock was anti-dilutive.

     NEW PRONOUNCEMENTS - Statement of Financial Accounting Standards 130
     "Reporting Comprehensive Income" was issued in 1997.  Statement 130
     establishes standards for reporting and display of comprehensive income,
     its components and accumulated balances.  Comprehensive income is defined
     to include all changes in equity except those resulting from investments
     by owners and distributions to owners.  Among other disclosures,
     Statement 130 requires that all components of comprehensive income shall
     be classified based on their nature and shall be reported in the
     financial statements in the period in which they are recognized.  A total
     amount for comprehensive income shall be displayed in the financial
     statements where the components of other comprehensive income are
     reported.  This statement is effective for the Company's financial
     statements for the year ended June 30, 1999 and is not expected to have a
     material effect on the Company's financial statements.

     SFAS No. 131, "Disclosures about Segments of an Enterprise and Related
     Information," was issued in June 1997.  This statement establishes
     standards for the way public business enterprises report information
     about operating segments.  It also establishes standards for related
     disclosure about products and services, geographical areas and major
     customers.  This statement is effective for the Company's financial
     statements for the year ended June 30, 1999 and the adoption of this
     standard is not expected to have a material effect on the Company's
     financial statements.

     SFAS No. 132, "Employers' Disclosures about Pensions and Other
     Postretirement Benefits," was issued in February 1998.  This statement
     revises the disclosure requirement for pensions and other postretirement
     benefits.  This statement is effective for the Company's financial
     statements for the year ended June 30, 1999 and the adoption of this
     standard is not expected to have a material effect on the Company's
     financial statements.

     SFAS No. 133, "Accounting for Derivative Instruments and Hedging
     Activities," was issued in June 1998.  This statement establishes
     accounting and reporting standards for derivative instruments and for
     hedging activities.  It requires that an entity recognize all derivatives
     as either assets or liabilities in the statement of financial position
     and measure those instruments at fair value.  This statement is effective
     for the Company's financial statements for the year ended June 30, 2001
     and the adoption of this standard is not expected to have a material
     effect on the Company's financial statements.


2.   LIQUIDITY:
     ---------

     As reflected in the accompanying financial statements, the Company has
     incurred losses in each of the last two years and has an accumulated
     deficit as of June 30, 1998 of approximately $2,600,000.  Furthermore,
     the Company has limited working capital.  During the past two years, the
     Company has sold preferred stock to an affiliated group of entities,
     which has provided funding for operations and for investment in its
     software development program. 

     The Company also has limited liabilities and long-term commitments.  In
     the past, it has sustained operations with limited working capital and
     believes it can continue its operations into the future.  The Company is
     also continuing its efforts to return to profitability, and may also seek
     additional capital infusions in the future. 


3.   STOCKHOLDERS' EQUITY:
     --------------------

     PREFERRED STOCK - The Company has authorized 100,000,000 shares of
     preferred stock.  On September 9, 1996, the Company issued
     4,000,000 shares of no par value Series A convertible preferred stock
     (Series A) to an investor for consideration of $1,000,000.  Series A has
     noncumulative dividends at an annual rate of $.0175 per share, which will
     only be paid out of the net profits or surplus of the Company as
     determined by the Board of Directors.  At June 30, 1998, no dividends
     were declared or payable.  No dividends will be paid on the common stock,
     no distributions will be made on the common stock, and no shares of
     common stock will be redeemed, retired, or otherwise acquired for
     valuable consideration until all declared dividends on the Series A have
     been paid, or the Company has set aside a sufficient amount to pay them. 
     The Series A has a liquidation preference of $.25 per share.  The total
     liquidation preference was $1,000,000 at June 30, 1998.  The holders of
     Series A have voting rights that are identical to the voting rights of
     holders of common stock.  At the option of the holder, the shares of
     Series A are convertible into shares of the Company's common stock on a
     one-for-one basis.  The Series A is convertible during the period
     commencing the earlier of one year from the date of issuance, or the
     effective date of a registration statement registering for sale the
     shares of common stock issuable upon conversion of the Series A, and
     ending three years from the date of issuance.  Holders of Series A have
     the right to demand that the Company file a registration statement to
     register for sale the shares of common stock received upon conversion. 
     All costs of such registration shall be paid by the Company.  Conversion
     values shall be adjusted for stock splits and combinations. 

     As part of the sale of the Series A shares, two representatives of the
     purchaser replaced two representatives on the Company's Board of
     Directors.  Furthermore, among other things, the Company shall not issue
     new common stock or stock options or incur additional debt without the
     approval of the designated representatives of the Series A holders.  

     On February 12, 1998, the Company issued 1,250,000 shares of no par value
     Series A-1 convertible preferred stock (Series A-1) to entities
     affiliated with the holder of the Series A convertible preferred for
     consideration of $500,000.  Series A-1 has the same terms as Series A. 
     The Series A-1 has a total liquidation preference of $500,000 at June 30,
     1998.

     STOCK ISSUANCES - In June 1994, the Company sold 440,000 units for
     $110,000.  Each unit consisted of one share of the Company's common stock
     and one common stock purchase warrant (warrant).  Each warrant is
     exercisable through June 1999 to purchase one additional share of the
     Company's common stock at an exercise price of $1.00 per share.

     In November 1994, the Company sold 200,000 units for $50,000.  Each unit
     consisted of one share of the Company's common stock and one common stock
     purchase warrant.  Each warrant is exercisable through November 1999 to
     purchase one additional share of the Company's common stock at an
     exercise price of $1.00.

     In May 1995, the Company completed a private placement offering of
     490,000 units at $.50 per unit for a total of $245,000 less issuance
     costs of $19,000.  Each unit consisted of one share of restricted common
     stock and one common stock purchase warrant which expired unexercised in
     January 1998 at an exercise price of $1.00 per share.  In September 1995,
     the Company granted a warrant to purchase 49,000 units at $.50 per unit
     to certain persons who assisted in this offering.  The warrant is
     exercisable through April 2000.

                                                   WARRANTS     PRICES  
                                                  ----------  ----------
            Warrants outstanding at 
            June 30, 1998 are as follows:                             
                 June 1994 offering                 440,000      $1.00
                 November 1994 offering             200,000       1.00
                 May 1995 offering                   49,000       1.00
                                                  ----------
                                                    689,000 
                                                  ==========

     In 1989, the Company adopted an Employee Qualified Stock Purchase Plan
     (`89 Plan).  All full time employees of the Company who have completed
     six months of employment and own less than five percent of the Company's
     common stock are eligible to participate in the `89 Plan.  The `89 Plan,
     makes available 60,000 shares of the Company's authorized but unissued
     shares of stock.  As of June 30, 1998, 2,000 shares had been purchased
     under the `89 Plan.  The purchase price of the common stock purchased
     under the `89 Plan will generally be 85% of the market value of the
     Company's common stock.  

     STOCK OPTION PLAN - In 1987, the Company adopted a nonqualified stock
     option plan (the "87 Plan") which 157,500 shares of the Company's common
     stock reserved for issuance.  The 87 Plan expires in 1997.  In 1988, the
     Company adopted a qualified stock plan (the "88 Plan") which has
     130,000 shares of the Company's stock reserved for issuance.  The 88 Plan
     expires in 1998.  As of June 30, 1998, there were no options outstanding
     under the 87 Plan or the 88 Plan. 

     In 1995, the Company's shareholders approved a stock incentive plan (the
     "Plan").  Under the Plan, the Company is authorized to grant options for
     shares of the Company's common stock.  A total of 2,000,000 shares of the
     Company's common stock has been reserved for issuance under the Plan. 
     The stock option activity for the years ended June 30, 1998 and 1997 is
     as follows:

<TABLE>
<CAPTION>

                                      Non-Qualified          Qualified
                                  --------------------- -------------------
                                              Weighted             Weighted
                                               Average              Average
                                   Number     Exercise   Number    Exercise
                                     of       Price Per    of      Price Per
                                   Shares       Share     Share      Share
                                 ----------  ---------- --------- ----------
<S>                              <C>          <C>       <C>         <C>    
Outstanding, July 1, 1996          492,500    $ .24     1,260,000   $  .27 
       Granted                     120,000      .34        50,000      .67 
       Exercised                         -        -             -        - 
       Expired                    (225,000)     .28      (142,000)     .41 
                                 ----------             ----------

Outstanding, June 30, 1997         387,500      .25     1,168,000      .27 
       Granted                           -        -             -        - 
       Exercised                         -        -       (34,286)     .35 
       Expired                           -        -      (186,714)     .26 
                                 ----------             ----------

Outstanding, June 30, 1998         387,500    $ .25       947,000   $  .28 
                                 ==========             ==========

</TABLE>

     The 1,334,500 options outstanding at June 30, 1998 had exercise prices
     ranging from $.20 to $.67.  1,207,834 options are currently exercisable
     at a weighted average exercise price of $.26.  Remaining options become
     exercisable as follows:

<TABLE>
<CAPTION>

                       Exercisable                                 Weighted
                        In Year                        Number       Average
                         Ended                           of        Exercise
                        June 30,                        Options       Price
                     ------------                    ----------    ----------
<S>                   <C>                             <C>           <C>      
                         1999                          126,666        $.39

</TABLE>

     For options granted during the year ended 1997, the weighted average
     market price of the Company's common stock was approximately equal to the
     weighted average exercise price.  No options were issued during the year
     ended June 30, 1998.  The weighted average remaining contractual life for
     all options outstanding at June 30, 1998, was approximately 2.4 years. 
     If not previously exercised, options outstanding at June 30, 1998 will
     expire as follows:

<TABLE>
<CAPTION>
                                                                    Weighted
                         Year                          Number        Average
                         Ended                           of         Exercise
                       June 30,                        Shares         Price
                     ------------                    ----------    ----------
<S>                  <C>                              <C>            <C>
                         1999                           50,000       $  .20
                         2000                          830,000          .23
                         2001                          107,500          .37
                         2002                          125,000          .20
                         2003                          172,000          .34
                         2004                           50,000          .67

</TABLE>

     PRO FORMA STOCK-BASED COMPENSATION DISCLOSURES - The Company applies APB
     Opinion 25 and related interpretations in accounting for stock options
     granted to employees and directors.  Accordingly, no compensation cost
     has been recorded for grants of options to employees and directors where
     the exercise price is not less than the fair market value of the
     Company's common stock on the measurement date.  Had compensation cost
     been determined using the fair value method pursuant to FAS 123, the
     Company's net loss and net loss per share would have increased to the pro
     forma amounts indicated in the following table:

<TABLE>
<CAPTION>

                                                     Year Ended June 30,     
                                                  -------------------------
                                                   1997              1998    
                                               ----------         ----------
<S>                                            <C>               <C>
              Net loss:
                 As reported                   $  (218,400)      $  (460,100)
                 Pro forma                        (246,900)         (460,100)

              Net loss per common share:
                 As reported                   $      (.04)      $      (.09)
                 Pro forma                            (.05)             (.09)

</TABLE>

     The fair value of all options granted was estimated as of the date of
     grant using the Black-Scholes option pricing model using the following
     weighted average assumptions:

<TABLE>
<CAPTION>

                                                             Year Ended
                                                              June 30,
                                                                1997
                                                            ------------
<S>        <C>                                              <C>     
           Estimated fair value per option                    $    .23 
           Expected volatility                                     102%
           Risk-free interest rate                                   7%
           Expected dividends                                        - 
           Expected term (in years)                                  7 

</TABLE>

4.   INCOME TAXES:
     ------------

     The net deferred tax asset is comprised of the following at June 30,
     1998:


<TABLE>
<CAPTION>

                                                             LONG-TERM 
                                                          ---------------
<S>  <C>                                                  <C>
     Deferred tax asset (liability):
        Net operating loss carryforward and 
          general business tax credit                     $    1,806,000 
        Capitalized software basis differences                  (158,000)
                                                          ---------------
     Net deferred tax asset                                    1,648,000 

     Less valuation allowance                                 (1,648,000)
                                                          ---------------
     
                                                          $            - 
                                                          ===============

</TABLE>

     The Company has accumulated net operating loss carryforwards of
     approximately $4,843,000 for income tax purposes as of June 30, 1998. 
     The Company also has general business tax credit carryforwards of
     $139,000.  These amounts expire periodically through 2013 if not utilized
     sooner.  The Company's effective tax rate for the years ended June 30,
     1998 and 1997 was 0% due to the Company's net losses for those years. 
     The net increase in the valuation allowance of $36,000  from June 30,
     1997 to June 30, 1998, was entirely due to the change in the net
     operating loss.


5.   RETIREMENT PLAN:
     ---------------

     The Company has established a defined contribution retirement plan. 
     Employees obtain eligibility in the plan after one year of service. 
     Eligible employees are allowed to defer a portion of their pay up to the
     lesser of (i) the maximum amount allowed pursuant to IRS regulations or
     (ii) 15% of their annual salary.  The Company may match up to 50% of
     employee contributions, limited to the smaller of 6% of an employee's
     salary or 10% of the Company's pretax earnings.  The Company made no
     matching contributions to the plan for fiscal years 1998 or 1997. 
     Participants are entitled, upon termination or retirement, to their
     vested portion of the retirement fund assets.


6.   MAJOR CUSTOMERS AND SIGNIFICANT CONCENTRATIONS OF CREDIT RISK:
     -------------------------------------------------------------

     As a result of large turnkey software sales, which included hardware,
     software, and related services, the following customers comprised greater
     than 10% of total revenue:

<TABLE>
<CAPTION>

                                          YEARS ENDED JUNE 30,
                                        -----------------------
                    CUSTOMER               1998        1997
                    --------              ------      ------
<S>                 <C>                   <C>         <C>   
                       A                    17%         36%

</TABLE>

     Substantially, all revenues and receivables are derived from sales to the
     electronic media and sports industries.  The Company's customers are
     generally geographically located in the United States.  At June 30, 1998,
     the Company had accounts receivable of approximately $55,000 due from two
     customers, including $19,800 due from customer "A" listed above. 
     Financial instruments that subject the Company to concentrations of
     credit risk consist primarily of trade receivables.  Trade receivables
     are generally not collateralized. 


7.   COMMITMENTS:
     -----------

     OFFICE LEASE - The Company leases its office space under a noncancellable
     operating lease which expires on August 31, 1998.  Subsequently, this
     lease was renewed for a one-year term for approximately $42,000 per year. 
     Total rental expense was $40,500 and $40,100 for the years ended June 30,
     1998 and 1997, respectively.  


<PAGE>
<PAGE>
                                        SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this Annual Report to be signed on
its behalf by the undersigned, thereunto duly authorized. 

                                      SISCOM, INC.


Date:   November 25, 1998             By:   /s/ Michael J. Ellis
        -----------------                   ---------------------------------
                                            Michael J. Ellis,  President

Pursuant to the requirements of the Securities Exchange Act of 1934, this
Report has been signed below by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated.

   Signature:                         Position:               Date:


/s/ Michael J. Ellis           Chairman of the Board,       11/25/98
---------------------------         President and
Michael J. Ellis               Chief Executive Officer


/s/ Mark S. Boledovich         Director, Acting Chief       11/25/98
---------------------------       Financial Officer
Mark S. Boledovich


/s/ Robert D. S. Turner               Director              11/25/98
---------------------------
Robert D. S. Turner


 /s/ Maxim C.W. Webb                  Director              11/25/98
---------------------------
Maxim C.W. Webb


 /s/ John R. Hart                     Director              11/24/98
---------------------------
John R. Hart