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Technology Stocks : Thermo Tech Technologies (TTRIF)
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To: space cadet who wrote (153)10/7/1996 8:44:00 PM
From: Wayne Umfleet   of 6467
 
Mark,
You certainly bring alot of emotion to this thread! Alot of us are feeling pain after seeing TTRIF tumble as it has over the past few months.

With regard to the subject of dilution, the moment Thermo Tech announced the convertible debenture earlier this year, that is when you should have realized the dilution impact, because eventually, all this debt would be converted to shares. The unfortunate thing in this case is that the debenture holders have a right to buy their shares from the company at 85% of the last few trading days before conversion. It sounds like most of the debt-holders are taking advantage of the opportunity to buy at the discount and sell it on the market for a quick profit. A lousy deal for us shareholders. At least the interest expense on nearly $10 million will go away.

But that is an example of the risk that is taken when investing in tiny companies like this. They need money to retrofit their plants and to grow, and don't exactly have the best financing deals available to them. Many companies die off because they can't get anyone to give them any sort of financing package.

From my perspective, I didn't invest in Thermo Tech because of their current financial position or EPS. I bought TTRIF because of their growth prospects. Income statements are history. I am choosing to look ahead at the deals that are in the works, the plants that are in various stages of planning, and the new markets that Thermo Tech is exploring. IMHO, all these things add up to a bright future for Thermo Tech.

Rgds,
--Wayne--
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