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Technology Stocks : Thermo Tech Technologies (TTRIF)
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To: Zeev Hed who wrote (5343)3/26/1999 11:21:00 AM
From: Clement  Read Replies (1) of 6467
 
Zeev,

Along the same vein as your question:

I'm not sure you were aware of this but I was told that the Richmond building alone (we're not talking about any equiment), the cost per square foot was $125 whereas comparable cost should be closer to between $45-$55... certainly adds up when you have several thousand square feet. Oh -- I forgot to phrase that in the form of a question -- it would be interesting to see if this information was true -- thus my questions to Dr. Cumming are as follows regarding this specific expenditure:

1) Does the cost of $125/sq foot agree with your figures?
2) If so, why did it cost so much when the cost should have only been around $45-$55/sq foot according to a builder?
3) If so, why did you as a director approve of this expenditure especially when you are supposed to be acting on behalf of shareholders?

Clement
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