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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG)
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To: d_r who wrote (44609)2/8/2001 6:46:54 PM
From: Ditchdigger  Read Replies (1) of 44908
 
I guess on first glance they are free to convert the debs to shares and dilute the heck out of shareholders..I'll look for the details of the debs..(by the way, at todays closing price, that debt, not including interest can convert to 15.58 million shares..has it been paid?)
"BROKERS' AND FINDERS' FEES. In connection with the above-described acquisition,
the Registrant issued an 8% convertible debenture to Ladenburg Thalmann & Co.
Inc. ("Ladenburg") for financial advisory services rendered and the delivery of
a fairness opinion.

3

The Registrant also entered into a registration rights agreement with Ladenburg.
Pursuant to the terms of the debenture, the Registrant must pay $2,650,000 to
Ladenburg on or before the earliest of December 31, 2000 ("Maturity Date") or
the closing of one or more debt or equity financings. Subject to terms and
conditions contained in the debenture, Ladenburg is entitled to exercise its
right to convert all or a portion of the unpaid principal and accrued interest
into shares of common stock of the Registrant at any time after the Maturity
Date. The Registrant also issued 2,700,000 shares of restricted common stock to
Rangeley Corporation as an advisory fee in connection with the transaction."
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