Management Discussion
Consolidated Balance Sheets
Consolidated Statements of Loss and Deficit
Consolidated Statements of Changes in Financial Position

The semiconductor industry market for equipment health monitoring and advanced fault detection is still in its early stage of market development. There are tremendous opportunities for companies that invest in this segment of the marketplace and become significant suppliers. Triant believes that as this market develops, the company has the potential to emerge as an industry leader in servicing the semiconductor industry.

During the first quarter, Triant continued with its investments and efforts to pursue opportunities for sales, initial pilots and product evaluations of ModelWare/RT, the company's software solution for monitoring and advanced fault detection for wafer processing equipment in semiconductor manufacturers. The company's approach consists of a direct sales strategy to the US customer base of semiconductor manfacturers with a focus on major accounts and a channel partner strategy to the European and Asia-Pacific markets. The company's efforts during the first quarter resulted a strategic $300,000 order for ModelWare/RT being placed by a leading IC manufacturer just subsequent to the end of the quarter. To support Triant's business opportunities in Europe, Triant's Vice President, Operations has been on-site during the first quarter at distributor and customer locations as a senior technical and management representative. Through our distribution channel partner, Metron Technology, we expect to see initial pilots and product evaluations in the first half of 1998 by major European semiconductor manufacturers with the goal of a revenue stream commencing from our channel partner in the second half of 1998. To support Triant's business opportunities in selected Asia-Pacific markets, particularly Japan, we have engaged in discussions to integrate our ModelWare/RT product offering with leading wafer fabrication plant solution providers and expand our distribution capability.

Triant operations will continue to require funding from a combination of revenue generation from ModelWare/RT products and services and financing activities. To raise our profile with the US and European financial community and enhance our opportunities for future investment related activities, Triant participated in the SEMInvest '98 conference held during February 1998 in both New York and London. This conference, which was organized by SEMI and which included sponsorship by NASDAQ and the New York Stock Exchange, brought together semiconductor industry analysts, investment bankers and suppliers to the semiconductor industry. As a result of the company's involvement in this conference, Triant's President & CEO made direct contact with these analysts, investment bankers and other semiconductor industry suppliers, and also participated in a CEO roundtable session with industry media.

The first quarter financial results reflect that Triant is still in the early stage of commercial sales from ModelWare/RT with continued investments required for marketing, sales and product development. Revenue for the three months ended March 31, 1998 was $10,640 (1997 - $202,035) with a $300,000 order for ModelWare/RT being received just after the end of the quarter, as previously discussed. Expenses for the three months ended March 31, 1998 were $957,027 (1997 - $802,230) and included increased expenditures on marketing, sales and product development efforts. The net loss for the three months ended March 31, 1998 was $946,387 (1997 - net loss of $600,195) with a loss per share of $0.07 (1997 - loss per share of $0.05).

Subsequent to end of the first quarter, Triant appointed two new directors to its board: Michael George, Senior Director of Strategic Business Development for Applied Materials, Inc., the world's largest supplier of wafer fabrication systems and services to the global semiconductor industry, and James Fletcher, President, Northwest Venture Developments Inc. Mr. George's extensive knowledge and experience in the semiconductor industry will enhance Triant's initiatives to develop its position as the leader in equipment health monitoring and advanced fault detection software. Mr. Fletcher brings to Triant's board more than 20 years of corporate finance and venture capital experience and has worked closely as an investor and partner with a variety of early stage companies in their corporate, managerial and financial development.

Consolidated Balance Sheets - Top of Page

Consolidated Statements of Loss and Deficit - Top of Page

Consolidated Statements of Changes in Financial Position - Top of Page