Long document,don't have time to read it now-but this gives you an idea what the dilutive effect of the debs is..I don't believe this means they are selling now,but what the effect would be if they did..Look forward to the disection of this document when I return later.This is a snippet..DD
"SUBJECT TO COMPLETION, DATED __________, 1999
PRELIMINARY PROSPECTUS
TELESERVICES INTERNATIONAL GROUP INC.
50,346,890 SHARES
COMMON STOCK
The selling securityholders named below are selling up to 50,346,890 shares of
the common stock of TeleServices International Group Inc. under this
prospectus, including up to 48,822,640 shares that they have acquired or may
acquire upon conversion of convertible debentures and 1,524,250 shares that
they may acquire upon exercise of warrants. The selling securityholders
acquired, or will acquire, the convertible debentures and the warrants in the
private financing described below under the caption "Description of Securities
- Debentures and Warrants."
TeleServices International Group Inc. has not made any underwriting
arrangements with respect to the common stock. The common stock is traded on
the over the counter electronic bulletin board maintained by the National
Association of Securities Dealers under the symbol "TSIG". The selling
securityholders may offer their shares of common stock in the manner described
below under the caption "Plan of Distribution" in public or private
transactions on or off the over the counter electronic bulletin board, or any
other national securities exchange or automated quotation system on which the
common stock may be listed or traded, at prevailing market prices or privately
negotiated prices. Sales may be made through brokers, dealers or other agents
who may receive compensation in the form of commissions, discounts or
concessions. The selling securityholders and participating brokers or dealers
may be deemed to be "underwriters" within the meaning of the Securities Act and
any commission, discount or concession they receive may be deemed to be
underwriting compensation."
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