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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG)
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To: Suzanne Newsome who wrote (34080)8/27/1999 9:58:00 AM
From: Zeev Hed  Read Replies (3) of 44908
 
Suzanne, you have to differentiate between expenses and liabilities, expenses show on the P&L statement, liabilities on the balance sheet. What TSIG did was pack liabilities into VSI before putting it into CH 11, stiffing some of these debt holders, they may not be through with this since a CH 11 proceeding takes some time. If one of those stiffed entities was the IRS, believe me they are going to come back after both TSIG and Gordon personally. You may want to ask Paul Henry how much of the $4 MM was debt to the IRS, you may be surprised. If it is substantial, that will have to be paid and pronto., IMHO.

Zeev
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