Here is another interesting post from RagingBull:
By: Chuckwalla
Reply To: 22989 by The_Peach Saturday, 4 Dec 1999 at 9:04 PM EST
Post # of 22993
Well Peach, there are a number of people out there that want to make sure TSIG stays down and bald eagle is one of them. Now that he's out of the stock he has the need to stay on the boards and bash TSIG. Owns no stock but constantly bashes, lets see the list includes Bald Eagle,
Samlbi, Ditchdigger, tide glider, Howard_Hughes and a few others. Unfortunately, the numbers posted by Bald Eagle are correct and a matter of public record. And thats what you are dealing with here, a start-up internet company that is fully reporting, yes fully reporting,warts and all.
On RG's salery, last I heard he claimed he is not drawing any salery until the company is on its feet debt free.
Now what is it that turned some longs and one time longs so sour on TSIG.
Well back when the company was first changing directions and ready to open the mymusicard site. the boards were charged with energy , everybody was predicting big things for TSIG in a hurry. There was going to be a big party in Vegas when it hit 1.00, every week was predict the share price some would say 5.00 and so on. The announced a big teliservices contract that would bring in 30 mil a year bring the company out of debt and set them on their way.
A deal with Babe Ruth baseball was announced and projected to bring up to 50 mil a year. Everybody was going to be rich. Well we all know there is no such thing as a sure thing and Murphys law kicked in. The company tried to expand to quickly and threw a lot of money at opening up a new online division with an internet guru in a swanky silicon valley setting, they jetted the president at that time James Guild and the guru John Hwang to England and announced an opening of a brittish portal. Meanwhile the bank involved in the teleservices contract got cold feet and backed out and because the Babe Ruth deal was very neglected and ill managed it fell flat. So now the company is out of money and whatever is coming to the table is going to take awhile. They had set up a PP for 5 mil to draw on that reportedly was friendly. It turned out it was anything but, it was a floorless pp with convertable debitures. And as the share price dropped and the online division folded and key officers left the debiture holders were converting the hell out of the stock adding more and more dilusion. Many stockholders were trapped holding and rodeit down where they sit today, others sold at a loss and felt they got screwed by TSIG. So there you have it newby's TSIG's history in a nutshell.
That is why there is so much negitivity, once bitten,twice shy you know.
As for me, I sold off half my position on the way down and am still holding the bag on the other half.
However in light of the last three PR's I have renewed optimism in a company I had written off for dead.
TSIG did say they were steamlining operations to focus on the success of the mycard product line. There are huge contracts lined up that any penny stock company would die for. Mutimillion dollar contracts. I personally feel TSIG's ultimate success is now reasonably assured and am content to accummulate and wait for the revnue stream that will ultimately take this stock to new uncharted hieghts, big float warts and all.
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