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

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To: Larry Levine who wrote (9574)	12/11/1998 10:56:00 PM
From: Alan Coccio	Read Replies (3) of 10903

Well Larry, it does look like the company simply has done all their bookkeeping for all the convertible debentures and warrants. Now the chickens are coming home to roost. This is an SB-2 registering some 13.2-million shares of the company stock for sale which represents all the deals they've made over the past couple of years. Kernaghan and friends currently own about 40% of the company and will divest themselves of most of that stock since they can't own more than 4.9% - if I've read the details correctly. Currently, there are 17.9 million shares outstanding and after all this stuff is finished converting, there will be 25-million outstanding. One other funny thing I noticed. Remember how we had mentioned that Mighton and McGann had sold off some of their offshore account shares? Suddenly, both their accounts have increased by about 600,000 shares. I looked and looked and can't account for that new-found wealth. Did they do something significant to earn 600,000 shares each? The major question facing all shareholders....well, all except the TK gang, is whether they will flood the market with these shares or whether they will try to do an orderly sale. We have recently been hearing lots of rumors and hard news concerning big business happenings at TPI. If all those things are true, there could have been significant share price increases. Will this huge sale negate all the benefits of this new business? Might we stay at square one for a long time to come while these shares multiply like Furbies? Stay tuned. Alan

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