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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG)

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To: neverenough who wrote (1542)	6/29/1998 10:44:00 AM
From: JEFF BERRY	Read Replies (2) of 44908

Nigel, I am no longer planning on buying in at .12 After studying the S-8 over the weekend I have developed additional concerns about the company and Mr. Gordon's credibility. The 6/25 filing states that TSIG was given a 6% stake in "a privately held company called Teleservices Holdings corp." What did TSIG have to do to recieve this 6% interest? TSIG recieves the 6% stake in exchange for: 1)"Waiver of any interest that it (TSIG) may have had in acquiring five companies which holdings intends to acquire." 2)"The registrants release of four persons from their obligations to the registrant under their respective employment agreements and consulting contracts. The implications of these actions are in my opinion devastating to TSIG and provides me with a different view of Mr. Gordons intentions. The new "Holdings" company is a private company controlled by Mr. Gordon. It is the new flagship company that no doubt carries none of the baggage that TSIG does. It likely has no accumulated deficit,cash crisis, IRS problems or burdening lawsuits. Two of the four persons that resigned their positions with TSIG to join "Holdings" are Absolutely "key" employees that Mr. Gordon no doubt trusts since he has given them both a minority interest in the new "Holdings" company. They are: a)Stephen McLean Former CEO of TSIG B)Raymond P. Wilson Former CFO of TSIG The filing indicates that Mr Gordon who devotes less then his full time to TSIG affairs has assumed the responsibilities of the former CEO and CFO. until replacements can be named. All of this seems to indicate to me that Mr Gordon is banking his future on the new "private" flagship. The five potential deals that TSIG had been working on have been yanked from under it's feet for the benefit of the new flagship company. I believe that Mr Gordon now views the old TSIG as a liability. An old ship covered with barnicles with a massive hole in the side, taking on water. I believe he will try to extract all the riches from this ship before it sinks so as to benefit the new flagship. The filing does not indicate where this new flagship is located. It is my guess that it is in the very same offices as TSIG. How convenient. Let the old ship take on the water of debt neccessary to train all the new employees then as it sinks throw the employees that have proven to be "keepers" a life line. Why they may not even have to leave their cubicles to join this new flagship organization. It is also apparent by the filing that TSIG has not yet waived it's rescind rights on the CCI deal. This means, and is clearly stated as such in the filing that TSIG has not yet made payment to CCI for the acquisition and thus still has the right to unwind the transaction.........Could this be one of the five companies that TSIG has given up it's rights to acquire? Even if it is not one of these five companies if TSIG goes down the CCI deal would likely be "unwound" prior to the declaration of bankrupcy and thus be available for pursuit by the new flagship "Holdings" company. Nigel, The implications and conclusions that I have drawn after studying the 6/25 release are enough to convince me at this point to remain on the sidelines regardless of how low the stock price drops. Respectfully, JAB

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