Well guess what, another email message not on the wires,so what's new.Here it is for those who are interested.
> From: Bob Messenger-President
>
> ACCESS DEVELOPERS LLC/ACCESS 1-
>
> We have been developing a workable model to allow Access to "roll-out" their
> internet service provider(ISP) business on a regional and eventually national
> basis in the United States. We now believe that we have that model fine tuned
> and ready to go.
>
> In a previous Update we had discussed financing this expansion through a
> Limited Partnership offering. It has now been decided that a Debenture, which
> will be convertible into Triquanta common stock, would be a better financing
> method. It is my understanding this debt issue can be purchased by most of
> you who follow Triquanta.
>
> Background:
>
> >From a standing start in January 1997, Access 1 has become the fastest
> growing ISP in California. Their innovative $99.00 per year, unlimited
> internet access is the low cost provider in their San Diego county market.
>
> In the last 30 days Access 1 has surpassed the 700 subscriber level, but more
> importantly, they have added over 200 customers in the last 30 days. This
> 40% per month growth rate has been generated with a monthly advertising
> expenditures of less than $1200.
>
> As the customer base grows, our most valuable asset is "word of mouth."
> During the last week 14 of our 46 new subscribers were referrals from our
> satisfied customer base. As our customer base grows we anticipate a
> continued growth in referrals.
>
> One of the largest expenses for ISP's are the costs directly associated with
> attracting and signing up new customers. Our low costs in this area, coupled
> with our low prices are our biggest competitive advantages.
>
> We are now ready to expand into Los Angeles and Orange County. This will
> expand our potential customer base by a factor of 5. Within 6 months of being
> in these new markets, we project revenues of Access 1 in excess of $60,000
> per month.
>
> The Debenture:
>
> This offerings, will be for $100,000 USD, in 50 units of $2,000 USD. This
> will equate to approximately $140,000 CDN and $2800 CDN, respectively.
>
> The interest rate will be 13% per annum, payable quarterly, with a two year
> term to maturity. The issuer, Triquanta Investments Limited, reserves the
> right to redeem the debenture at any time after the first year, upon payment
> of the principle and all accrued interest.
>
> The debenture will be convertible, at the sole option of the holder, into
> Triquanta Investments Limited common stock, any time after the first year of
> issuance, at the rate of one common share of stock for each $0.40 USD,
> approx. $0.56 CDN, of face value of debenture held.
>
> The security for the offering is a General Security Agreement giving the
> debenture holders a first charge over any and all assets of Triquanta,
> including their interest in the expanded Access 1. Triquanta presently has no
> secured or long term debt.
>
> Purpose:
>
> The proceeds will fund the purchase of the initial hardware and T1 lines
> necessary to expand into Los Angeles and Orange County and will provide a
> bridge to the cash flow which will fund the future expansion of Access 1.
> Should this expansion occur as envisaged the major upside in this investment
> will likely be in the common shares of Triquanta.
>
> STOCK PRICE & WHERE TO FOLLOW THE STOCK-
>
> We have had a number of requests for internet addresses where quotations of
> the stock price are given.
>
> One of the best sites we are aware of is qs.secapl.com
> Upon reaching this site enter the stock symbol as C.TQT and you will
> receive the bid and ask price for the stock, the volume for the day and the
> price at which it last traded. There is a 15 minute delay between the time of
> trades and the time they are reported on this site
>
> For those of you on AOL if you use the "Go To" feature there is a "Stock
> Quote" heading you can access and enter the stock symbol TQT. When the next
> window comes up type in the company name-Triquanta and you will get a
> similarly, time delayed quote.
>
> The stock continued to perform well this week closing at $.032 to $0.35, last
> at $0.33 on light volume. Some of the selling pressure appears to have abated
> and prices in the $0.50 range should be attainable in the next 3 or 4 weeks,
> maybe sooner.
>
> CONCLUSION-
>
> The growth of the internet is continuing and we believe that there will be
> value in our internet subscriber base as the inevitable consolidation of the
> industry occurs . These values will fluctuate over time, but industry
> analysts who have in the established values for each cablevision or telephone
> subscriber, will do the same for the internet . In some of the most recent
> underwritings of ISP's, a value of $600 USD per customer, has been ascribed
> to the existing subscriber base.
>
> I will be Updating you on our telephone business in the next Update, but we
> felt this development with Access would be of interest to our shareholders.
>
> For further information please contact Bob Messenger at: 800 565 4408 |
