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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy) -- Ignore unavailable to you. Want to Upgrade?

To: John Gorham who wrote (984)	9/8/1999 9:26:00 PM
From: M. Merriam	Respond to of 1208

To me, the debentures are trading as though the stock will be suspended or delisted. It looks as though someone is suddenly wanting to get out at any price. At least, that way, they will be able to claim a tax loss. Not only does someone want out badly, but also, over the past few days, the bids on the debentures, paltry though they may have been, have all but disappeared. At the close of the day, the high bid was 1 cent on the dollar. Below that, the next highest bid is 2 hundredths of a cent on the dollar! The first four debenture trades of the day (at 10 cents on the dollar) were cancelled. I can only wonder why, although perhaps it's not so mysterious. Bottom line, I'm fully prepared for this stock to be suspended indefinitely, perhaps as early as first thing tomorrow. If so, it looks like I may never be able to unwind my position. Mike

To: John Gorham who wrote (984)	9/9/1999 6:15:00 AM
From: John Gorham	Read Replies (3) \| Respond to of 1208

OW!!! Now the news is out, and it is much worse than I had thought possible. A net loss per share of 23 cents per share. How could Blaine Maller be so out of touch with the state the company was in on 7 April 1999 as to suggest that the eps were "in the range of 8 cents"? The only bright(?) spot I see is that there is (at least on the books) some shareholder equity. But it is clear that immediate action is needed and that existing management is not fit to handle it. On second thoughts, this is as it was 5 1/2 months ago. How much more damage has since occurred? John