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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
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To: mike wood who wrote (1164)12/9/1999 7:19:00 PM
From: Tupulak  Read Replies (1) of 1208
 
Regarding the meeting today.
The bottom line is they have to raise some cash either through a White Knight coming in and buying the company out right or doing a large PP.
They have no capital at all at this time and production is shut down.
As to the production side of things it may get outsourced and then they would sell the finished product.
The next 3 weeks to a month will tell the story and there is 3 potential buyers/investors looking right now.
As far as the debentures go it will either be paid the interest at the end of the month or not, nobody knows at this point in time. Again the next 3 weeks will tell the story. It is possible that they (or some White Knight again) will float a larger debenture issue that will take care of the present ones plus give some working capital.
The Board of Directors was very up front and what can they really say.
Curtis
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