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Technology Stocks : Thermo Tech Technologies (TTRIF) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Kinakin who wrote (5702)	7/24/1999 6:46:00 PM
From: CAYMAN	Respond to of 6467

PLANT DESTROYED BY COSTLY FIRE Martin van den Hemel, staff reporter FEROCIOUS FIRE: The Richmond Bio Conversion plant on Mitchell Island sustained between $10 and $12 million in damages following an early Saturday morning fire. Plant employees were outside looking at the damage, which almost completely destroyed the $28 million facility that opened in May. (photo by Mark Patrick) rpl.richmond.bc.ca A recently-opened $28 million waste conversion plant on Mitchell Island was almost completely destroyed by a devastating accidental fire early Saturday morning. Richmond Fire-Rescue's John Mitchell said he estimates damage to Thermo Tech Technologies' bio conversion plant at between $10 and $12 million, making it the biggest and most costly fire in Richmond's history. Temperatures inside the mostly metal building reached 2,000 Celsius, Mitchell said, melting a system of catwalks and warping metal inside the 20-metre high structure. There were no injuries. Thermo Tech workers noticed the fire around 2:30 a.m. and then scrambled out of the building and called 911. A preliminary investigation indicates the fire started near some large fermenting tanks, in which bacteria is added to a mixture of recycled organic material, allowing for pasteurization to take place over a 24-hour period. A heat source apparently ignited the four-inch spray-on polyurethane foam covering the tanks, Mitchell said. The flames then quickly spread to the liners of other tanks, creating a toxic, thick black smoke inside the building. "It's like closing your eyes, that's how black it was," he said of the smoke. Within a matter of minutes, the upper portions of the facility was filled with a cloud of smoke containing lethal cyanide gas, a by-product of the burning of the polyurethane foam. To allow the heat to escape from the building, which turned into a giant over thanks to the metal exterior, fire crews had to peel back the plant's tin walls. After temperatures dropped, fire crews went inside the building to douse the flames. The plant didn't contain a sprinkler system, aside from inside the ductwork near the drier, Mitchell said. A sprinkler system wasn't required under the building code. Insurance investigators are currently at the scene assessing the damage to the building. Fire inspector Mitchell said the structure was fully insured. Last week wasn't a good one for Thermo Tech. On July 14, the B.C. Security Commission issued a cease trade order against the firm. The order prohibits the trading of Thermo Tech securities pending the disclosure of information regarding the firm's acquisition of two Ontario transfer stations in March 1998. The Review featured a story on Thermo Tech in late May during the company's grand opening. An article also appeared in the same issue involving a law suit filed against Thermo Tech by Trooper Technologies. It claimed as much as $55 million US in damages. Thermo Tech officials didn't return phone calls by press time Tuesday.

To: Tom Kinakin who wrote (5702)	7/24/1999 7:03:00 PM
From: CAYMAN	Respond to of 6467

By: A_TT_NOBODY Reply To: #2949 by SaveOurPosition Saturday, 24 Jul 1999 at 6:03 PM EDT RAGING BULL Post #2950 LINK TO THE RICHMOND REVIEW TT FIRE STORY! glide.com No sprinkler system?? Mercy!!

To: Tom Kinakin who wrote (5702)	7/25/1999 10:14:00 AM
From: CAYMAN	Read Replies (1) \| Respond to of 6467

Richmond News clipping, Reply: FIRE By: PTR Reply To: 2950 by A_TT_NOBODY Sunday, 25 Jul 1999 at 4:14 AM EDT RAGING BULL Post #2962 A friend of mine who lives in Richmond clipped this article: The Richmond News, Sunday, July 25, 1999 (page 3) Investigator says fire was accidental by Mike Howell, News Reporter The fire that erupted at a Mitchell Island waste recycling plant early Saturday is believed to have started after food waste contained in a large metal tank overheated, says a Richmond Fire-Rescue inspector. John Mitchell said the the tank was so hot that the heat spread to the outside of the tank and ignited the foam insulation covering the tank. A bio-chemical reaction in the tank is probably what generated the heat, Mitchell said. The fire then spread through the large tin building, damaging and destroying most of the machinery at Richmond Bio Conversion Inc., located at 11611 Twigg Place. Early estimates put the damage as high as $20 million but Mitchell said it's closer to $12 million. The plant uses bacteria to transform organic waste into products such as animal feed. The bacteria comes from food waste trucked in from restaurants and food processing plants. [end of clipping]

To: Tom Kinakin who wrote (5702)	7/25/1999 10:38:00 AM
From: CAYMAN	Respond to of 6467

LOCK THEM OUT! By: Peterluke_99 YAHOO Post #1667 There some shareholders out there who know how it can be done. I understand that it only takes 5% of the outstanding shares and shareholders to petition a judge to look at the evidence against board members, and if the evidence is found to be contravening shareholder interest, the board can be locked out. The good part is that the board does not even have to be notified of such an event, and takes no part in the proceedings. This is something I have heard from others, and I do not know how to proceed with such a plan. There is a technical or legal name for such an event. I do know that if shareholders don't form a "pot" and open an account of sorts to prepare for whatever may be necessary, then nothing will get done. The cards are stacked so heavily in favour of a company when it comes to a shareholder vote, that the task of winning is very nearly impossible. However, if a judge finds that the shareholder interest has not been met through evidence presented, and the board is locked out, legal proceedings can then begin against board members and all assets. Accounts can be frozen, a forensic audit can be performed, and all sorts of good things can happen while the company stays intact. It has been done in the past, and will become more frequent in the future as shareholders participate more and more in managing their own pension funds through investments in the marketplace. In my humble opinion, only through such an event can a company be moved forward so shareholders can have hope in the future. Should a company decide to sue anyone for any reason regarding even talk of such an event, an immediate counter-suit will force the books open for all to see. Some people worry about the rights or patents. All of these issues are dealt with through the courts, and the company can still proceed without them, as long as the intent is there to satisfy the patent holders on any growth the company has been able to generate. Naturally, this is then negotiable, again through the courts, to that which is reasonable and proper, and which will allow the company to proceed in a profitable manner, and not according to the demands of those holding the rights. There are all sorts of ways this can go. You have nothing to lose, and everything to gain. Cheers, Aardvark ********************************************************************** Canada Business Corporations Act by: sdfast 1668 of 1671 the CBCA may be found at: canada.justice.gc.ca It is difficult to read as there is no Table of Contents, and is about 170 pages long. But it details what Peter is posting about. Thermo Tech is operating under CBCA as of Dec 2,1997, although they were originally incorporated under British Columbia Companies Act (BCCA). Regards, Sheldon