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


To: mike wood who wrote (1131)11/4/1999 12:37:00 PM
From: M. Merriam  Read Replies (1) | Respond to of 1208
 
The most significant line in the release is this:

The company has outstanding indebtedness of approximately $250,000 (U.S.)with a Canadian chartered bank. The company is presently in default in its payments on this loan and is in negotiations with the ban to restructure payments.

Looks like we can forget the Dec. debenture interest payment...

Not exactly confidence-inspiring news. Also, the company's Canadian phone lines were disconnected yesterday for non-payment, although I notice that they're back up today.

Mike M