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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
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To: mike wood who wrote (1043)9/16/1999 3:15:00 PM
From: M. Merriam  Read Replies (1) of 1208
 
Yesterday, I was talking with staff at the ASE and the ASC. Both said that TCT was late with Q1 despite not having an extension. The woman at the ASC expressed surprise that the ASE hadn't already suspended trading. She explained that the ASC is in a position to issue a cease trading order. Then I called TCT US staff and was told that, to the best of their knowledge, Canadian office and auditors were working on Q1 statement.

The ASC staff told me that the Alberta act under which TCT was incorporated might impact TCT's ability to change auditors midstream without shareholder approval. According to her, civil remedies might be available under that act.

Mike
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