TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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

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To: Jim Bishop who started this subject	8/27/2000 9:26:21 PM
From: voyagers_stocktips	Read Replies (1) of 150070

To all interested in NUZA here, this might be of interest: numagicpizza.com Current News August 24, 2000 Yesterday, the company met with its bankruptcy attorneys to review its preliminary plan to come out of bankruptcy. The company has an investor who is prepared to infuse up to $300,000 into the company to bring the company out of bankruptcy. The infusion would be a combination of debt and equity. The company's plan calls for all existing shareholders to remain in place. The percentage of debt that will be paid off has yet to be determined. In all probability, some creditors will be given the opportunity to convert what is owed to them into stock on the same percentage basis. To the extent that the investor takes equity and to the extent that creditors convert debt into equity, some dilution will occur. The company's bankruptcy plan will not include any reverse stock split. Once this plan is submitted to the court, there are a series of reviews that are conducted by both the court and the creditors. Each review period is for approximately 30 days and each revision also has a 30 day review period. We estimate that it will take 3-6 months from the time the plan is submitted to get final approval. Preliminary talks indicate that once we emerge from bankruptcy, additional capital will be available for the company to grow and develop its existing business and explore new areas of opportunity. We have also finally received approval from the bankruptcy court to engage the services of a CPA firm to do our year-end audit and file our appropriate tax returns and S.E.C. filings. The company intends to make all of its filings on a timely basis. ----------------- I also just sent this update to my newsletter readers: ragingbull.altavista.com More details on NUZA here for those who want to research the company: yourway.to JMHO, FWIW .... Voyager

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