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Technology Stocks : Thermo Tech Technologies (TTRIF) -- Ignore unavailable to you. Want to Upgrade?

To: Poweruser who wrote (3717)	3/19/1998 3:05:00 PM
From: Sheldon Fast	Respond to of 6467

PW: I believe you may be overlooking the debit financing, so TT will still be 50% owner. Also I believe from past info that Ontario waste will get a lower cost to their tipping fees, a very strong incentive to invest in TMPs. Cheers, Sheldon

To: Poweruser who wrote (3717)	3/20/1998 1:59:00 AM
From: Robert Pool	Read Replies (1) \| Respond to of 6467

Financing and JV made simple. I had a long and informative conversation with Mr.Branconnier. The reason for my call was to get clarification as to the JV and how it was structured. It is actually quite simple. Mr. Branconnier explained the structuring among other things, quite clearly and I will try to put it in type. A new company call Ontario Thermo Inc. was formed to house the joint venture. This company would in turn own 100% of Power Grow Systems Inc. which will own 100% of Niagara Bio Inc. which will be the Owner of the License for the Technology. The same basic structure applies to Ontario Thermo Inc., Northwood and Oshawa Bio Inc. the latter being the owner of the license. The financing which he said was almost complete will be split between Niagara Bio Inc. $16 mil and Oshawa Bio Inc. $16 mil. The exchange I suspect between TT and Ontario Disposal will be 50% of the JV (Licenses - $1.6 mil) for land and a 50% chuck of the profit. Remember land is already permitted for this use, a big time saver for TT as well as the costs related. Financing is to be secured by a put & pay and a take and pay 12 year agreement which guaranties the supply and the sale of the end product. These two agreement makes the debt financing a possibility. Ontario Disposal he said, was instrumental in arranging the financing. I hope this makes some sense, please let me know if you need more info, I will try to supply. Robert Pool Still holding TPP