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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: ztect who wrote (44727)	3/4/2001 2:51:13 AM
From: TOPFUEL	Read Replies (1) \| Respond to of 44908

Ztect Please read the whole localbusiness.com article.. I posted it below notice whats highlighted in bold .. notice the words "WE SETTLED INSTEAD" looks like your main man Henry lied to you people again.. BTW wonder what the settlement was for .. The Affinity Group courts new suitor CONSUMER, INTERNET By David R. Corder, ################# Mar 02, 2001 01:22 PM ET ST. PETERSBURG, Fla., March 2 (LocalBusiness.com) -- Affinity Group Inc. has signed a letter of intent to merge with Returned Assured Inc. of Los Angeles. Under terms of the deal, Affinity Group would acquire 75 percent of the outstanding shares through a triangular reverse merger in a deal with Returned Assured, which markets a proprietary bonded service that assures consumers of guaranteed reimbursements on purchases made on the Internet. News of the pending merger follows a decision by Affinity Group to rescind a buyout agreement it reached in early December with St. Petersburg-based TeleServices Internet Group Inc. (TSIG.com). Affinity Group alleged that TSIG.com breached representations made during the acquisition, Affinity's chief executive officer Scott Roix told LocalBusiness.com. "They had 30 days to settle and amend the misrepresentation," Roix said. "We settled instead." In a release dated Feb. 14, officials at TSIG.com acknowledged the rescission, a decision by Roix to resign as its newly appointed president but made no claim about the veracity of the alleged breach. Efforts to reach TSIG.com officials for comment were unsuccessful. With the buyout rescinded, Roix said he is confident about the deal with Return Assured for several reasons. For one thing, he retains a 75 percent ownership stake and this merger is with a Nasdaq-regulated company. "Most of my business is merchant facilitated over Visa and MasterCard," he said. Return Assured's "product is a bonded product. It works very well with my customers." The deal is contingent on a due-diligence inspection, execution of definitive agreements and shareholder approvals. Even though the deal hasn't closed, Return Assured announced Friday it is reducing staff by 50 percent in its Vancouver, Canada, in an anticipation of the proposed merger. "The combination with the Affinity Group will bring solid cash flow and a proven business model to our company," said Matt Sebal, Return Assured president. "We will deliver our database to Affinity's business, and Affinity will utilize our product in their business." Return Assured shares (Nasdaq: RTRN) tumbled by 25 percent, 25 cents, to 75 cents in afternoon trading. The stock's 52-week range is between 19 cents and $8.