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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
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To: Far Side who wrote (613)1/27/1999 7:03:00 PM
From: Edward W. Richmond   of 1208
 
Jim, a PE of 2 doesn't help a whole lot when the bailiff is about to seize your equipment and put a lien on your building because you can't meet your accounts payable. While I doubt that will happen, if this financing doesn't go through, I do expect something like a large private placement at dirt cheap prices. Huge dilution!!!! Of course outstanding stock options would likely be repriced to within 5% of the lowest price at which the stock traded, so management would be well rewarded.
Sorry if I sound cynical, but micro-caps that have no cash/cash equivalents are pretty vulnerable.
Fingers crossed.
Regards, Ed
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