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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (31694)	6/24/1999 7:20:00 PM
From: Ditchdigger	Read Replies (2) \| Respond to of 44908

Zeev, will take a look at UOLP,,always interested in the twists and turns of a floorless..DD PS: I take it you have already reviewed the placement,and it is in fact lacking a floor? (and shortable also...) "Under the terms of the debentures, interest will accrue at a rate of 9% per annum and the principal and accrued interest are due on December 15, 2000, if not sooner converted. In addition, commencing ninety days from the date of the agreement the holder may convert up to 15% of the original principal balance per month, on a cumulative basis, into Common Stock at a conversion price of $5.55 per share. The conversion price equals the average closing price of the Common Stock over the five trading days prior to the date of the agreement. If the market price of the Common Stock at the date of conversion is less than the conversion price, the Company shall have the option either to pay the holder in Common Stock at a fifteen percent discount to the market price or in cash in an amount equal to 110% of the principal amount to be converted (115% if conversion occurs after 210 days following the date of the agreement)(the catch all<g>)."