Thermo Tech Technologies (TTRIF) Message Board

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Technology Stocks : Thermo Tech Technologies (TTRIF)

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To: Nicholas P. Acquaviva Jr. who wrote (3901)	4/8/1998 1:04:00 AM
From: Robert Pool	Read Replies (3) of 6467

NON RECOURSE FINANCING ???? In my conversations with both Rene and Lyle in IR. I was assured that the financing should be completed by the end of March "95% complete" "just need to complete the final paper work". It is now April 8th. Again the integrity of the CEO should be brought into question. I don't accept this from my staff or management never mind the CEO. I also believe their are others posting here that are serious TT supporters who have been told the same. If not please post when it was you were told it was to be completed for the benefit of all those who read this thread. After a good look at the 6k report as well as taking into account my own experience what Rene told me, the Pension Fund that was named I am convinced that this type of financing is not the type that Niagara Bio and Oshawa Bio would be eligible for. The Fund would at least secure the plants and the license for the Technology and the right to continue to operate the plants. According to Rene the licenses go back to TT if the company defaults. Yes this would be great for TT but it's just to good to be true. I have not read a single post questioning the Non recourse financing claimed by Rene in the 6k. This puzzles me. I am sure that their are those reading this thread that are very familiar with this type of financing. For those of you who are not familiar with Non recourse it is quite simple. Example: You go to the bank and ask for a $1,000,000 loan. Based on your solid history and incredible net asset worth the bank gives you the money. If you are to default, even as soon as the first payment the bank has no legal (recourse) way or right to come after you for the balance of the unpaid debt. It means they can not even claim ownership of what you spent the money on. They can only give you a bad credit rating on the credit bureau. I do not know about all of you that post here but $32,000,000 is a lot of money to lend out with no security, even for TT and it doesn't have a perfect history in paying its creditors. Any and all responses are welcome, even from those who don't want to consider all possibilities. . Robert Pool Perhaps an overly discriminating investor. ÿ

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