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Microcap & Penny Stocks : GAAY - Triangle Broadcasting Company (was TBCS) -- Ignore unavailable to you. Want to Upgrade?

To: rowrowrow who wrote (1829)	9/14/1999 10:47:00 PM
From: Jon Scott	Read Replies (2) \| Respond to of 2118

The SEC is not death to these stocks. We all have been wronged. We have been lied to and deceived by Frank Olsen. If I went over every suspicious event around this deal, I'd type my fingernails to my elbows The company was undoubtedly intent on making investors believe they own(ed) certain assets. They made certain to put out a PR they were acquiring and did acquire the studio. Did the same with other assets. Now if all this was never owned by TBC, but by a private corporation, why even mention it? Were they promoting PSTS Inc or TBC? To state they "acquired" the studio is enough to make me believe they acquired it, not found a place to stay, as I'm sure any other reasonable person would surmise the same, particularly considering they previously said they were signing an agreement to "acquire" the studio. The legal definition of "acquire" alone will be enough to cause Frank Olsen an onslaught of legal problems. That is fraud. I think no harm will come to GAAY or GAAY shareholders when the SEC steps in. I'm guessing the guilty are the ones who jumped ship, and now attached to QBID. That is where the investigation will start. They are the beneficiaries of this scandal.

To: rowrowrow who wrote (1829)	9/14/1999 11:04:00 PM
From: Sprintcar	Read Replies (1) \| Respond to of 2118

The majority of the information I got was from reading the ITHC pr's they were clear and stated the intentions since 7/27/99 when ITHC announced a name change to TRiangle Multimedia and proposed it's business plan.. GAAY was shady in the verbiage of it's pr's, ITHC was crystal clear... While GAAY was not clear in the pr's, they did not make ant false statements as some would have you believe. Read them closely and you will see. It always said TBC & PSS that is the key. Read the pr closely about the aquisition of the studio. This pr of 8/9/99 says it all, read it closely especially section D Integrated Healthcare, Inc. Discusses its Proposal to Triangle Broadcasting Company, Inc., its Board of Directors and its Shareholders TORRANCE, Calif., Aug 9, 1999 (BUSINESS WIRE via COMTEX) -- Joseph L. Pittera, Pro Tem Chairman and CEO of Integrated Healthcare, Inc. (OTC BB:ITHC) announced today what the Company's intentions will be with respect to Triangle Broadcasting Company, Inc. (OTC BB: GAAY), Palm Springs Television Studios, Inc. and several other Triangle mid-merger candidates. "I would like to take this opportunity to respond to or clarify our position on the Triangle matter so that the shareholders of both companies can better understand what is being offered," stated Pittera. "As a Preamble I would like to state that we view Integrated Healthcare, Inc. as a 'platform company' in a 'leveraged buildup' scenario. In a leveraged buildup investment format a platform company (ITHC) is used to 'back' a management team in a public forum with a publicly traded vehicle and cash for acquisitions within a certain industry. The industry focus is very narrow. For example, a verylarge and famous platform company would have been 'K-III Communications Corp.' which was controlled by KKR and had acquired over 200 different publications in a relatively short period of time. The management team then began to build a 'new' company by making smaller acquisitions of smaller companies. Our goal is the same in that we also going to back a management team comprised of the Triangle Broadcasting Company's current management. We feel by shifting Mr. Olsen into a newly created position of head of 'Acquisitions and Mergers' and out of the day-to-day operations we can become very pro active. In addition to Mr. Olsen we would add some 'top notch' lawyers and 'in house' finance people to the 'Olsen Division' as we define it. As stated before I will be exiting ITHC. I am however the Chairman of a company that will be making an investment into the new platform company Triangle MultiMedia Corp. formerly Integrated Healthcare, Inc. if this transaction becomes final. "The basic outline of our offer is as follows: (a) Integrated Healthcare, Inc. (OTC BB: GAAY) will acquire Palm Springs Television Studios, Inc., a private company from its private stockholders, which is currently in "mid-merger" with Triangle Broadcasting Company, Inc. (OTC BB: GAAY) Broadcasting for Preferred Stock in ITHC and cash. The Cash will then be invested into the completion of the Bingo and Auction programming which will make these two programs available for syndication far ahead of schedule. (b) ITHC will acquire the licensing for the Television Channel which is also in "mid-merger" with Triangle Broadcasting for Preferred Stock in ITHC and cash. (c) The Preferred Stock of ITHC which will be issued to all insiders, management and used for acquisitions of both (a) and (b) above. It will be structured into a voting trust to be controlled in majority by existing Triangle management. Each share of preferred is convertible to common stock only after a three years from the new date of issuance and can only be sold on a limited basis until year five of maturity. This will assure Triangle of management involvement on both major and minor issues with respect to running the company. (d) ITHC shall acquire all of the assets of GAAY the publicly traded company for common stock of ITHC. The stock shall then be available for exchange with existing GAAY shareholders on some basis as provided by some "moving day average" of both stocks and the ITHC market value as set forth in the marketplace prior to the asset purchase. The ITHC Common Stock shall be used in the purchase of the assets and the exchange of the GAAY Common Stock if the shareholder elects to exchange. These shares will then be registered under a Registration Statement so that they will be "Free Trading" securities in the marketplace. (e) Depending on the asset value of all the acquisitions (post GAAY) Triangle MultiMedia, Inc. (Proposed symbol "QBID") will attempt to list on a regional stock exchange or NASDAQ. (f) The "Olsen Division" (working title) headed by Frank Olsen will focus their efforts on the acquisition of stations, affiliates, hardware and pre-existing content. This division will operate autonomously from the day-to-day operations of Triangle MultiMedia Inc. The "Mission Statement" of this division is to seek out acquisitions and acquire them for a price below their book value. We would like to see the Preferred Stock or a combination of the Preferred Stock, Common Stock and Cash be used for these acquisitions provided the marketplace "shows" a solid value for the stock. "This is a very brief overview of what our offer is to the current management of Triangle Broadcasting Company, Inc. I like to advise every shareholder that this is a speculative and high risk deal. It may not come to fruition for any number of reasons. I strongly suggest that individuals do not buy ITHC stock unless you first speak to your broker and/or financial planner. I wish to thank the shareholders of GAAY and of ITHC for the opportunity to respond to some of the outstanding issues. Our offer to Triangle Broadcasting Company, Inc. will be extended from the close of business Monday until the close of business Friday the 13th of August 1999." Safe-Harbor Statement Under the Private Securities Reform Act of 1995: The statements contained herein that are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward looking statements, including certain delays in testing and evaluation of products and other risks detailed from time-to-time Integrated Healthcare's filings with the Securities and Exchange Commission. Individuals are further warned by ITHC management that they could suffer losses to the full extent of their investment virtually overnight if this offer is not accepted by the above mentioned companies. Related news categories: television, multimedia, Internet, communications, radio Symbols: ITHC, GAAY Copyright (C) 1999 Business Wire. All rights reserved. CONTACT: Evans, Lambert & Associates Rod Evans or Joseph Pittera, 310/328-3588 evlam2000@aol.com WEB PAGE: businesswire.com GEOGRAPHY: CALIFORNIA INDUSTRY CODE: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS INTERACTIVE/MULTIMEDIA/INTERNET MERGERS/ACQ MANAGEMENT CHANGES Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. GAAY apparently is in trouble to carry out it's business plan, cash poor, couldn't buy the studio was the first indication. It was apparent all along if GAAY was solvent it wouldn't even entertain a buyout. Now seeing the offer today should tell everyone its true worth.. Sprintcar