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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
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To: Nathan Hansen who wrote (366)4/19/1998 10:52:00 AM
From: ASHLEY5  Read Replies (1) of 1208
 
Does anyone know when the interest is paid on the 8% convertible debentures ??

Is it paid annually ?

In any event the company must accrue the interest expense on their financial statements up to the date of the financial statements each quarter and at year end.

This is $7,000,000 x 8% = $560,000 per annum assuming none are converted. This is quite a chunk of change to be added to expenses.
This will be offset by any interest earned on the cash sitting around while the new building in Prescott is being built.

Does anyone know if their have been any debentures converted into shares yet?

Also, does anyone know if they will close their Lincoln, Nebraska plant once the Prescott plant is operating? It seems that they won't need both locations.

Does anyone know if TCT still has their resource properties and if so are they going to keep them or sell them???.

Any information would be appreciated.
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