TPII - Year 2000 (Y2K); Groupware; Client Server Migration Message Board

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Microcap & Penny Stocks : TPII - Year 2000 (Y2K); Groupware; Client Server Migration

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To: Larry Levine who wrote (7850)	7/1/1998 10:19:00 PM
From: Alan Coccio	Read Replies (5) of 10903

I no sooner decided that the funny stock deals were behind us and that we'd trade based on fundamentals when out comes the 10Q for the third quarter. This 10Q combines the first nine months of the fiscal year along with the quarter. It's not good. In fact, it's even worse than I thought it would be and I wasn't expecting very much. Total revenue for the quarter was only $260,324 with no income from Y2K services. The now familiar language about bidding on contracts is contained but nothing specific. We did learn they did a convertible debenture worth almost $1-million sponsored by their old friends at Thomson Kernaghan. I would guess this puts about a million shares of dilution in our future and the possibility of a short position against those shares at any time. They have about $250K cash left of the $1-million. This would seem to indicate the burn rate is growing at a faster clip than earlier reports had it. These are first impressions from a quick read. Thank you Wendell (a thread reader) for bringing this to my attention. Alan

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