Pay a guy enough and it would seem they would do anything -- including if Ted Belman is any indication, sell their soul. It would seem that Thermo Tech has a new hypester... oops, I meant freelance "consultant". Thermo Tech is paying some guy to arrange conference calls to discuss his "opinion".
Ted Belman resorts to labelling and name calling (while representing Thermo Tech) in order to respond to questions he chooses not to answer. He has the time to "hype" and imply that nefarious forces are buying and that we will miss out soon, but he doesn't have the time to answer a few simple fundamental investing questions.
I wonder if he truly believes he has an ounce of credibility. I hope he is being paid well enough that he can sleep at night.
It would seem that we are again being invaded by the land of the stupid. On Yahoo, we see Lyle Viellet oops I meant PremiumandCrackers, prematurely announcing a big "Phillipines" deal coming down the pipe, and then Mark Anderson admonishing Crackers to more or less shut up. Incidentally you can e-mail PremiumandCrackers oops I meant Lyle at skilly@bc.sympatico.ca. He's the son in law of Rene Branconnier in case any of you weren't aware...
So Management was to have changed, it has not. Gee... The more things change the more they seem to stay the same... Maybe there are enough stupid people out there who will buy into the story again and again and again. Incidentally, if you bought in the first round and were fooled, I don't consider that stupidity -- I was nearly fooled myself. But to be fooled into buying again and again and again? That is stupidity plain and simple. Remember that saying? Fool me once, shame on you, fool me twice shame on me? How many times will some of these shareholders allow themselves to be fooled is my question.
Clement
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INTRODUCTION TO TED BELMAN
Wednesday, 12 May 1999 at 8:00 AM EDT
By: TT_NeedsReform
How is TT Managing the Inaccurate News Release
A gentleman who identified himself as Ted Belman [(416) 928-3168 tedbel@better.net] called me yesterday. He said he was retained by Thermo Tech as a consultant. Apparently his function is to contact shareholders and give TT's position. He suggested that a conference call could be set up with members of our group and that TT would arrange it. If any of you are interested contact him. I am not.
He stated that the dilution for the last few months was due to the fact that Kevin Simpson et al did not transfer funds to TT. I do not believe for a moment that funds were promised to TT as interim financing prior to the management change.
The management change negotiations were pending solely to allow TT to look at the "fine print of the financing" prior to turning over the "keys to the company" according to Mr. Delman.
Later in our conversation he mentioned a 2-year $5M condition to allow RB et al their "continuing obligations". It should be noted that these obligations do not include prior debt accrued by TT. All prior debt will be the obligation of the new management. I do not believe that Kevin Simpson authorized or considered this disbursement. This sounded to me like a golden parachute tendered after the news release and was the deal breaker. That is $2.5M per year on a management trying to establish budgetary requirements. If you contact Mr. Delman ask when this addendum was inserted and specifically what the "obligations" entail. The answers may be interesting.
Lastly, I would request whoever notified ISM, and any person affiliated with them, that I performed any inquiries or due diligence on them to stop. That was an untruth. ISM is merely an investor in TT Ventures and as such is of no concern to TT. The only research on TTV performed by me was verifying their status as an organization in Massachusetts by contacting the Secretary of State. I am satisfied that Kevin Simpson has and MBA but feel it would be quite an improvement to have TT managed by anyone with a couple of letters behind their name. As a side note, ISM authorized zero dilution. That is counterproductive to any stock buyback.
Kim
odcom@earthlink.net
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TED BELMAN's RESPONSE
Wednesday, 12 May 1999 at 10:22 AM EDT
By: teeder
This post is from Ted Belman. Prior to the conference call tonight, I thought I would post a statement of my interest in this matter and the limits of my knowledge.upon which I baqse my opinion. First of all I am no longer practising lawand havewn't been for 15 years. For these years I built and ran a large business of 100 employees. I am now retired. I invested in TTRIF over a year ago and like all shareholders was not happy to see the price deline to $.09 and the dillution go up to over 220,000,000. I worked with Mr Pickering and John Holly before the AGM and was the one to retain Mr Getz on behalf of the dissidents. I parted company with them and removed myself from the process as I was convinced by Rene that there was sufficiennt answer to their allegations and the best interest of the shareholders was not being served by it. Obviously people can differ on that and everyone is entitled to their opinion, myself included.
After May first I decided to fly to Vancouver from Toronto to meet with Rene face to face to find out what was happening. As it was I met with him ,Wayne Hanson and Steve Barley. At this time Rene asked me if I would be interested to work for the company in the east to perhaps reactivate the deal with Ambrose and to help with Hamilton. I agreed. There was no suggestion that I would be asked to speak to shareholders. On Monday the 10th when I realized that Rene was inundated with calls, that I would help out and he said okay.
In the conference call I will only be able to give you my beliefs based on what I have seen and heard. That's the best I can do. That is not to say that I have seen everything or heard all important things. You can be skeptical of everything I believe or you can lend it some credence. your choice.
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TED's EXPLANATION TO NOT REPLYING TO A QUESTION KIM ASKED
Thursday, 13 May 1999 at 9:40 AM EDT
By: teeder
Kim is a basher and non-believer. He disbelieves everything automatically so why try to convince him. What's more I don't care what he thinks.
No one is entitled to know the details of what happened. The bottom line is the the deal is on, the parties are working it out to the benefit of TT;s shareholders, thank's to Rene and it should close before the opening. That's my opinion for what its worth.
Also the technology works, period. I talked to Mr Dick last night and he confirmed that the technology works that the ammendments to the plant will be done by May 21 and that the plant will be capable of hadling 1200 tons a day with vastly improved profitability..
In my opinion someone has been accumulating stock for the last six months at least and the accumulation is now over and the dilution will be over as soon as the first of the $200,000,000 is advanced and then you will see the stock rise rapidly in price. Those who share my beliefs and buy more or just hold will reap large rewards No one is going to give you a guarantee. So now is the time to make a choice. Nothing is going to be served by trashing Rene or the company. Rene's job of bring home the bacon for the shareholders has been made much more difficult as a result of all the trashing. The trashers are only hurting all of us. Fortunately Rene has persevered and so have or will the shareholders.
Are you with us or agin us.
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TED's HYPE
Thursday, 13 May 1999 at 10:09 AM EDT
By: teeder
Look at the volume (2.5 million) and look at the price which is moving up.
[Just a sub note: TTRIF up 1/64 or 4.21% -- time to break out the champagne? I wonder how much of that volume was dilution?] |
