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To: CAYMAN who wrote (5751)	8/20/1999 11:18:00 PM
From: CAYMAN	Read Replies (2) \| Respond to of 6467

~ ~ ~ By Sheldon Fast ~ ~ ~ I have a scenario that I would like to propose: This cycle looked very similar to those in the past where TT issued a bunch of shares into the hype causing further dilution. The old pump and dump. But the printing press is frozen as there is a cease trade order in BC, which is where the share issuing is frozen. So where are the shares coming from? However, there are a number of Rene cronies who have a large number of shares. There is no control on TT issuing convertible debentures as they are essentially bonds, with a percentage interest payout These bonds of course can be converted to shares at a later date usually at a discount to the existing share price. And if we consider the Reg S and Reg D that TT issued in the past, (the infamous floorless!) we can see the same sort of thing happening. I suggest to keep the cash flowing Rene has entered into a convertible debenture deal with these major shareholders, to provide cash and probably tied in with a promise to support him at the AGM. Sound familiar? Very much like some of the shenanigans at the previous AGM. Of course the deal is probably sweeter than the 85% on the previous Reg S and Reg D because they can't claim their shares until the cease trade order is off. But they believe that good ole Rene will get the halt lifted and they might then vote their ill gotten shares at the AGM. This is of course all conjecture, but here are a few facts: TT has hired a couple of touting stock sheets, and there has been a concerted effort to tout the stock by Don Dyer and others from IR, there have been mailings about the wonderful 1200T/day process which is just about guaranteed to make one as rich as Rene. This is why we have seen the heavy buying volumes in the last week and today was the dump. The method is: these large shareholders can flog the shares into the hype, because the see that with the comnvertibles they can gain on the pump and dump plus they have the potential of gaining from the debentures when they convert. For these benefits they can pay TT a heavily discounted amount, but Rene has more cash to burn. Not only that, but if the rumoured "deal" at the end of the month doesn't happen, well, they can buy back the shares cheap from the disgruntled investors. In fact they may be buying today at the reduced prices. Comments welcome. Sheldon ********************************************************************** To answer Brunette first: yes. I am sure there was profit taking going on today, but where did the volume of shares that were "bought" during the week come from? I do not believe there is any violation until shares are issued. If the freeze lasts while Rene is there. then the wait for the debenturists could be a long time, also the shares could not be issued implies they could not be voted. So what we may have is, if the stock goes up when the we have a new board then the debentures will cost some nominal interest rate. There likely would be little conversion as in the past, where with the floorless the stock was shorted and this depressed the price as well as causing a whole bunch of dilution as it took an ever increasing amount of shares to convert from the debentures,as well as getting a discount price. One of the ploys to keep Rene in control will not work because he can't issue the shares. Without the friendly shares from the conversion of the debenturees he is not likely to keep his seat. Regards, Sheldon Friday, 20 Aug 1999 at 7:47 PM EDT Raging Bull Post # 4058

To: CAYMAN who wrote (5751)	8/23/1999 8:34:00 AM
From: veritas	Read Replies (3) \| Respond to of 6467

Cayman: Appreciate the message. How true! Important we keep up a relentless stream of contacts and info going int to BCSC this week. BTW, are you in touch with John Holley? Understand that he has not contacted the commission and likely has info that would be helpful to them. I'm not in direct contact with Holley, but have contacted Dave Pickering to urge him to urge Holley to cooperate with BCSC. Anything you can do to that end greatly appreciated. Regards, Veritas