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

To: monu who wrote (3865)	4/5/1998 12:03:00 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 6467

Casey, thanks for the conference phone number. I am surprised that there are no specific discussions of the various issues raised during the conference call on this thread. I'll open by saying that the tone of the conference call was very very upbeat, but I did not see much critical discussions of financial issues. I'll start a discussion here on two such issues that somewhat bothered me. first, I must have missed it, but I did not hear what is the current capital cost per project. I think that in answer to John Quinn's question, Rene responded that a Pension Fund is fully financing the cost at $30 MM per project (the Oshawa and Niagara Project). Is this correct? Last time I looked at these costs they were up to $15 MM per 600 ton/day facility. Could it be that the $30 MM is for two facilities. The reason I am confused is that in response to Shawn Olson's question about cash on hand he answered that TT is owed $20 MM for the Hamilton (?) facility construction. So, is the cost $15 MM, $20 MM or $30 MM? The next query I have to the thread relates to the number of outstanding shares. A year ago there were 29 MM shares and now we have 53 MM shares or an addition of 24 MM shares. Since in the last year I know only of the $8 to $10 MM (answer to Craig Simpson) of the debt converted to stock, and this stock was converted at between $1.25 to $1.75, so taking an average of $1.2/share (80% of $1.5) that yields only 8.3 MM shares, where did the other 16 MM shares come from? Furthermore, in response to Simpson's question on inside ownership, Rene stated that insiders still own 52% of the shares, and that implies that they must have received the lion share of those 16 MM additional shares, anyone knows what for? I have additional issues that I think the thread should address, but lets get these issues solved first, than we can move to additional issues. Zeev