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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: SSP who wrote (52743)	6/27/2000 2:20:00 PM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

Massive sell off of REDI today...but then we're only talking about $6,000 total.

To: SSP who wrote (52743)	6/27/2000 2:45:00 PM
From: TallTrader	Respond to of 150070

JNSC released 10Q About $2.94 book value, $44mil sales for the quarter, lost $13mil. They should reduce a substantial amount of debt after the sale of their German unit. Factories are working at 100%. The Company expects to continue as a contractor, manufacturing out of Mexico for VF, Levis, J.C. Penney's and others. Subsequent Events: On April 4, 2000 the Company sold the global trademark rights of the Company's CHIC brand name and the rights of the H.I.S brand name outside of Europe to VF Corporation ("VF") and in connection therewith, the Company changed its name from Chic By H.I.S, Inc. to Durango Apparel Inc. The net proceeds of approximately $9.8 million were used to reduce both the term and revolving bank loans. Concurrently, VF executed an Interim Licensing Agreement granting the Company the right to produce and sell certain branded "CORE" products, as defined through April 30, 2000 and certain branded "NON-CORE" products, as defined through June 30, 2000. In addition, the Company signed a letter of intent with VF to sell its majority share in H.I.S Sportswear AG. The sale is subject to satisfactory completion of due diligence by VF, regulatory approvals and the successful completion of a proposed tender offer that would result in VF owning more than 75% of the shares of H.I.S Sportswear AG. The Company also entered into a contract with VF providing for the Company to manufacture one million units of product by December 31, 2000 and an additional two million units of product upon the successful completion of the sale of the Company's majority share in H.I.S Sportswear AG. In May 2000, VF agreed to purchase approximately three hundred thousand units of branded "CORE" products valued at $2.4 million.