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Technology Stocks : Thermo Tech Technologies (TTRIF)

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To: CAYMAN who wrote (6409)	10/1/2002 9:25:44 PM
From: CAYMAN	Read Replies (1) of 6467

Int'l Bio Recovery to ward off creditor attacks International Bio Recovery Corp IBR Shares issued 17,623,424 Sep 17 2002 close $ 0.25 Wednesday September 18 2002 News Release Mr. Elmer Friesen reports IBR TAKES PROTECTIVE MEASURES TO WORK WITH CREDITORS International Bio Recovery (IBR) has filed notice of intention to file a proposal to restructure its debt, and is working on a proposal with the company trustee and its lawyers to accommodate IBR's creditors. As previously announced, Galaxy Power Enterprises Limited called its loan from IBR and gave notice of its intent to enforce security on the $1-million debt. To avoid irreparable financial damage to the share value of the company and to enhance its opportunity for future success, IBR has taken the pre-emptive step to protect itself against creditor attacks. IBR is expecting finances to cover all creditors' demands, which would make the intent for proposal redundant. stockwatch.com

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