Turbodyne Technologies Inc. (TRBDF) Message Board

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Technology Stocks : Turbodyne Technologies Inc. (TRBDF)

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To: DJRoss who wrote (1540)	8/5/1998 4:45:00 PM
From: Q.	Read Replies (1) of 3458

Doug, I'd like to know how their cash position increased, too. They say it is $12 M. Well, it stood at about $2.5 M at the end of March, and they were losing $4 M per quarter. Surely they must have done a dilutive private placement. Unless the money fell out of the sky, a private placement is the only way it could have happened. And considering their cash liquidity situation and previous financing practices, it was probably a discounted convertible. But they never announced it. There are no SEC filings or news releases that I could find disclosing a private placement. If this had been a US co., they would have been compelled to file a disclosure. This failure to disclose means shareholders have no idea how much dilution they've taken on. And that comes after a monumental amount of dilution over the last year or so, with shares out doubling from 3/97 to 3/98. Just call this one "TurboDylution".

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