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Technology Stocks : Thermo Tech Technologies (TTRIF)
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To: shotz who wrote (4797)10/2/1998 3:40:00 AM
From: Fate  Read Replies (2) of 6467
 
What is with the talk of Bankruptcy? I believe in US terms that Chapter 11 is not a full blown bankruptcy but rather a reorganization of the companies obligations to creditors so that they retain assets and hopefully in business.

I am too ignorant in Canadian law, accounting and wish I had never seen or put my money in this company. The management has been extremely non-performing. At this point in the game there should be solid progress and at least 3 to 5 plants available for showcasing. I do know, if I have the most recent Canada Business Corporations Act C-44 that bankrupt is mentioned as requiring shareholder vote. Though these guys overrule all of us and everything they do is in secrecy. There is no positive sign coming from them that they intend to really turn things around. The last press release was a sham. If it is to survive management must implement drastic changes at the top willingly from within and not via a voter dissent. They also must bring back the auditors Deloitte and Touche (spelling) and redo their most recent financials to disclose fully what has transpired in order that shareholder can feel confident that the new leadership means business. Harvey Ambrose and Rene have become bedfellows and from what I can see by the financials have no intention of increasing earnings or the stock price.
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