TSIG.com TIGI (formerly TSIG) Message Board

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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG)

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To: findstock who wrote (15822)	1/26/1999 8:27:00 AM
From: Ditchdigger	Read Replies (1) of 44908

findstock,this company has a timebomb called convertible preferred hanging over it's head,but do to the company's lack of disclosure,no one knows for sure how large the damage will be. It is beyond me, how you and others can so easily dismiss this fact. This financing arrangement, by it's very merit will have a major dilutive effect on the stock and most likely the stock price..Why hasn't the company addressed the disclosure issue? What is the discount on conversion? How is the before discount conversion price determined( ex. average bid/closing price for the 15 days prior to conversion)Is there a floor in place( ie., can't convert if stock is below X level) Is there a minimum holding period for the debenture holders before converting?Are there covenants in place to guard against "shorting the box"? Were there agents involved in the placement and what percentage of the placement did they receive for their efforts? All these issues should be addressed in a public filing,IMO ,Later DD PS: remember the PP holders most likely have a nice built in profit,20/30/40% from the discount on conversion,opens up many opportunities for the holders..

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