Gary,
With all due respect, I own 150K shares and am very excited about the prospects of TCB, but, I must concur with Jon Scott regarding possible dilution.
#4...OUTSTANDING AND FREE TRADING SHARES?
Shares Outstanding: 38,000,000 - No preferred shares or convertible debentures outstanding.
Free Trading Shares: 30,000,000. (re-verified this information on July 9, 1999)
Jon has already stated that Renee confirmed an additional 2,000,000 from possible early backers exists. I tried to get confirmation myself via phone (admittedly only one attempt, but have since tried via email twice) and still no reply.
I think investors had better keep in mind that as long as Triangle continues to be their OWN transfer agent and remains non-reporting, we will have no way of independently verifying their claims of total authorized, outstanding, and free trading.
I like the premise, timing, their game plan, and so far, they appear to be on the ball as far as getting things rolling. My only concern to this point is, and you know always has been, the numbers.
Wallstreet's real-time last 10 trades for Friday shows a 5,000,000 block at the close. I usually blow those off as "adjustments" from out of sequence trades and what have you, but, this came through at the Ask, and total volume from Yahoo and other sources is stated at only a hair above 5 million. Can anyone else confirm this block? I'm sorry, but doesn't anyone else find it a strange coincidence that "news" has been delayed (I am not questioning the validity of the delay itself- it does make sense) until tonite or tomorrow and this block of shares is dropped off before this "news"? Paranoia? Perhaps, but, if we have another 2-4 million share trading day again today (buys outpacing sells as they have been) without a significant breakthrough through the 0.25 resistance, then I will have to continue to assume that MMs are consistently receiving blocks of shares to sell from some entity that persists in adding shares to the float. I will also keep raising this issue until TCB takes accountability and publicly states the figures.
Theo;-)
150K long, but, concerned.
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