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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG)
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To: Jazzbo who wrote (28387)5/17/1999 8:10:00 PM
From: Suzanne Newsome  Read Replies (3) of 44908
 
TSIG was the daytraders' toy today. You know when it's posted the day before that the CEO has possibly sold 70 some million shares into the float during the two previous years, and the stock increases a high of 6.5 cents and closes up only 2.5 cents, you are being day-traded. Questions have been put to the company about Gordon selling shares. We await the answers.

One item I have not seen discussed today is the amount of the loss due to operations. If we take the gain from disposal of VSI of $4.5 million and subtract x (where x is loss from continuing operations) to = the net reported gain of $2.9 million, then x=$1.6 million. [4.5-x=2.9; x=1.6] Thus the loss from continuing operations for the first quarter is $1.6 million which annualizes to $6.4 million. Since the loss for 1998 was $11-12 million, and we know revenues increased minimally, the $1.6 million 1st quarter loss from continuing operations represents some belt tightening.

Also note that the balance of the Loan Payable, Shareholder (who is R. Gordon) was $350,000 on 12/31/98 and is $150,000 on 3/31/99. During my conversation with Paul Henry on May 5 he said he thought some of that loan had been paid back, but wasn't sure how much. In response to my direct question, Mr. Henry said he was sure no loan had been converted into shares because he (PH) had to "sign off on it." So the money that is owed Gordon certainly seems at a manageable level that should NEVER require converting loan into shares.

Regards, Suzanne
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