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

To: David Pickering who wrote (3838)	4/2/1998 6:38:00 PM
From: David Pickering	Read Replies (2) \| Respond to of 6467

To All, I just got off the conference call. Rene spoke for almost 50 minutes and answered call-in questions for the bulk of that time. The jewels: 1. He has "just received the final copy of confidentiality agreement with USF". Details to follow. 2. With regard to Trooper suit, Rene repeated the company line. To paraphrase...Trooper is a licensee of thermophylic process only. The three other technologies (plant specs, equipment sourcing, etc.) were not included in the 1992 deal. He feels TTRIF will prevail because a)BDO feasibility study came back negative b)Stothert Engineering, in a sworn affidavit, says everything as per licensing agreement has been delivered to TPP. He believes Trooper will "die on the vine". HIS WORDS...NOT MINE! 3. US Thermo Tech WILL DEFINITELY BE a wholly-owned subsidiary of TTRIF. The HEAD office will be located in Washington state (and not Andover, MA- just another office) so that Rene/management can (for example) make a thirty minute drive from Langely to sign deals in the US. This is being done primarily for tax reasons. 4. He will be meeting with a group from the Chino (I thought it was Central) Valley, CA area at the Toronto office on April 15th and 16th. In the area around Chino, CA, there are approximately 300,000 diary cows in a four mile radius, which would require six 600 TMPs. 5. The company feels that it has the equivalent of a two year lead in the technology (and its commercial application) over the rest of the competition. 6. City of Toronto's sludge incineration problems lead to having TWO plants operating soon at Hamilton, the existing TMP upgraded to 300 TPD capacity and a new 400 TPD TMP located "immediately adjacent" to the original. The new 400 TPD TMP, which will be permitted for sludge, is already under construction and BOTH should be operational by August 1st! (1998):-) 7. He said point blank...NO MORE RED D's OR REG S's! In fact...NO MORE DILUTION outside of additional $2,000,000 convertible deb draw down (not required now). He mentioned the possibility of issuing "long-term or preferred" equity later. 8. The company will be in the black starting with the August 1st-Oct 31st 1998 quarter. 9. Company has $4,500,000 cash right now with $2,000,000-3,000,000 in licensing fees receivable. Overall, Continental Capital did an EXCELLENT job of hosting what I hope is the first of many conference calls. I actually thought Rene did well, very enthusiastic, extremely knowledgable about all areas discussed, etc. He had only a couple of grammatical errors and his voice (very raspy) takes some getting used to. However, the "die on the vine" Trooper comment was inappropriate in such a public forum. Regards, David Pickering