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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: SSP who wrote (47637)5/19/2000 3:37:00 PM
From: Jim Bishop  Read Replies (2) of 150070
 
CHIPper

"In the future, the Company intends to explore opportunities to develop
or acquire one or more businesses in other industries. The Company expects to
focus specifically on Internet-related businesses. The Company does not now any
particular prospect under consideration in any meaningful sense. The nature of
the business in which the Company will engage in the future, the terms and
circumstances under which the Company will engage in such business and even
whether or not the Company will engage in a future business, are now uncertain.

MATERIAL CHANGES IN FINANCIAL CONDITION

At March 31, 2000, the Company has a working capital deficiency of
$991,000 compared to a deficit of $1,437,000 at March 31, 1999. The lower
deficiency was primarily due to forgiveness of debt during the period ended June
30, 1999.

MATERIAL CHANGES IN RESULTS OF OPERATIONS

Three Months Ended March 31, 2000 and 1999

The Company incurred a net loss of $191,000 or $.01 a share, in the 2000 quarter
as compared to net loss of $327,000 or $0.01 per share for the comparable period
in the prior year. The change of $136,000 was attributable primarily to the
reduction in operating expenses.
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