Turbodyne Technologies Inc. (TRBDF) Message Board

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Technology Stocks : Turbodyne Technologies Inc. (TRBDF)

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To: whyretire who wrote (2346)	12/20/1998 8:09:00 PM
From: StockDung	Read Replies (2) of 3458

Why is 5.4 million shares a big deal anyway?.Hows that Russian sale coming along? Anybody notice that Turbodlution filed a prospectus Oct. 1 to register another 5.4 M shares? The filing can be found here: edgar-online.com. I noticed that the filing indicated that financing has not been finalized for the TransBusines Group deal. In the risk factors section, the filing added the following: RUSSIAN FINANCIAL MARKETS The Russian economy recently has experienced severe volatility in both financial and currency markets despite the monetary support and financing provided by the International Monetary Fund. The Russian ruble has been allowed to devalue significantly and generally lacks convertibility into other currencies. Political reforms in Russia continue to be instituted by its current President, but the pace of reform is slowing and the recent dismissal of a significant number of government leaders by the Russian President has contributed to continuing political instability. These developments have been accompanied by a substantial decline in the Russian stock market. It is uncertain whether stability will return to the Russian financial markets. Increased economic difficulties in Russia could have an impact on any potential sales of the Company's products into the Russian market, including sales under its agreement with TransBusiness Group of Moscow. See "Management's Discussion and Analysis of Financial Condition and Results of Operations -- Six Months Ended June 30, 1998 and 1997." ===================================== Guess we all know how well things in Russia are going. They can't even afford to eat and are begging on the streets.. floyd

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