TPI (TPII) - a fraudulent enterprise - makes false claims and misleading statements.
In a January 1, 1997 press release titled "Investors' Fact Sheet", TPI makes several statements which are at best, incomprehensible, and many times misleading or outright falsehoods.
TPI claims to posses and sell a technology which, in their words "...disassembles the legacy code at the record and operating system reference level. It then translates and reassembles the code into a distributed open system environment...".
The full quote from the press release follows:
[TPI's TRANSFORM Series software was developed over a 15 year period. The TRANSFORM Series disassembles the legacy code at the record and operating system reference level. It then translates and reassembles the code into a distributed open system environment. This technology is targeted at the global marketplace, and has already proven its effectiveness.]
These statements are extremely misleading and designed to confuse the technically naive investor. TPI does not possess any product which can magically translate software from "legacy" systems to client/server models.
TPI goes on to imply that their software transformation technology can somehow be used to solve what's commonly referred to as the "year 2000" problem.
The full quote from the press release follows:
[TPI's TRANSFORM Series software is an invaluable tool for ensuring expedient and accurate migration of legacy code as part of an enterprise's Year 2000 project management. This issue has achieved urgency, and originates in the practice in most legacy systems of storing dates by using only 2 digits to designate the year. The year 2000, for instance, is recorded as '00'. As computers try to make calculations involving the year 2000, they are confusing it with 1900 or other, seemingly random, dates. This is creating enormous problems for banks, insurance companies, utility companies - any institution in which data are associated with dates.]
This is again inaccurate and misleading.
TPI goes on to claim that the Securities and Exchange Commission has ordered companies to begin some sort "language transformation" procedure, again implying that they possess the unique technology which can perform said "transformation".
The full quote from the press release follows:
[The Securities Exchange Commission has stated that public companies must start now to transform their language, and has estimated that the cost to American corporations will be $600 billion.]
This is a complete lie. Furthermore, the $600 billion figure is an oft-disputed estimate for the cost of so-called "year-2000" conversions world-wide. This estimate originated with the Gartner Group, a technology consulting firm, and not with the SEC. |
