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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
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To: Edward W. Richmond who wrote (566)12/22/1998 1:58:00 PM
From: Saverio  Read Replies (1) of 1208
 
Ed, could you please clarify your comment to the effect that:

"...I am reluctant to go much higher until TCT gets their financing in place. I understand they will be in tough shape if they don't get the financing completed soon...."

In their 2nd Qtr report, management states:

"TCT Management has decided to reduce the amount of the proposed
Bond issue to US$3,000,000 which will enable the Company to implement planned cost cutting measures while maintaining a prudent level of debt."

As the bond issue is a very cheap source of financing, the fact that they reduce the amount they want to go for, suggests that they don't need extra financing at this time (unless they reduce it because they feel they would not be able to place the full amount? - the stated reason is they want to maintain a prudent level of debt).

I would appreciate your views. Thanks.
Saverio
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