ALL:
I copied this off BOBZ BB, a note from Garcia (VERDAD) friend or foe?
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Communication to the shareholders will be included in the rights offering that will be sent to the
shareholders in mid-February. The shareholders will then have 6 months to purchase additional
shares of the new company at a price of .25 cents per share, (instead of the original 45 days that
was in the reorganization plan). Shareholders will be able to purchase the same amount of additional
shares at the .25 cents price they hold of record in TRGC stock, at the time of the offering. The new
company needs this infusion of new capital because the officers and directors have been covering all
of the corporate expenses out of their own pockets.
They received only $6,000 from the Trustee's account when they took over TRGC and most of the
$150,000 that came from the Sers' frozen assets went to legal expenses.
I intend to purchase additional shares of TRGC immediately so that I can exercise my option right to
purchase the new corporate shares at .25 cents per share when it is offered- I urge all hardcore
TRGC shareholders to do the same if they are financially able to do this. The new company needs
the money to be able to secure the fantastic opportunities that are currently available to them in
hydro-carbon exploration and development.
The O'dell/Wallace, etc., mngt. team are true professionals and fully intend to EARN every dime of
their compensation.
When they do pull this miracle off, I for one feel that they will be under compensated, ( the max.
equity position from stock options for them is 20%).
Stay tuned for some specific info about the new company.
Very Truly Yours,
VERDAD
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1. So now we know a calandar element has been set aside (Mid Feb.)
so expect end of Feb for mail. (MAYBE)
2. We have 6 months from Feb - July to purchase additional shares of
the new company at a price of .25 cents per share price you hold
of record in TRGC stock, at the time of the offering.
This the part in which I am a bit baffled, are they going to offer a new company and name and IPO?
Frank
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