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

To: Zeev Hed who wrote (4194)	5/25/1998 9:49:00 PM
From: Mike C2	Respond to of 6467

Continuous Supply? How about this? am also finding it mildly frustrating to see the seeming endless supply of shares for sale. We were told that the company was not eating into that 26 million financing from last year aside from the original 6 plus smaller, as yet to be disclosed amounts recently. I'm wondering if the promise of spinoffs last fall served to forestall selling by warrant holders from the private placement some two years ago. Some of these folks may be selling shares recently to raise capital for whatever... or they may be ponying up their .75 for more shares from their warrants and are selling on every piece of news that offers them a double: the US Filter announcement in Feb. and the recent conference calls/promotion cycles by Continental Capital? Maybe Gary B. or another private placement participant could share their views on this. I'm not sure, Zeev, which floorless you are referring to. I'ts unfortunate that the company isn't more forthconming about the questions being raised here recently. Got my fingers crossed for this week. Mike

To: Zeev Hed who wrote (4194)	5/25/1998 11:15:00 PM
From: m jensen	Read Replies (2) \| Respond to of 6467

Zeev just a little curious as to the "Floorless Zeev you said: until August, the "continuous floorless" is still affecting this stock whatever PR says. By the time August will come around, there will probably beanother 8 to 12 MM shares in the float. What percent or amount of the 10million plus per month that is being sold are you attributing to the floorless Debentures. NEWS RELEASE, Date: September 22, 1997 FOR IMMEDIATE DISSEMINATION FOR IMMEDIATE DISSEMINATION >>>snip<<< THERMO TECHT TECHNOLOGIES INC. (The "Company") announces that it has finalized a $26,000,000 US Regulation D convertible debenture facility.The Company has completed the initial issue of $6,000,000 of convertible 8.5% debentures due September 16, 2000 under this facility. The convertible debentures are convertible into common shares of the Company at a price based on a discount to the market price of the Company's shares at the time of the conversion. The Company will be entitled, at its option, to issue further convertible debentures up to a total of an additional $20,000,000 US to the purchasers in a series of twelve monthly tranches upon effectiveness of a registration statement to be filed by the Company with the SEC and upon the Company meeting certain objective criteria. The Company has issued warrants to the purchasers to purchase a total of 125,000 shares and will issue additional warrants to purchase 25,000 shares for each additional $1,000,000 financed. Hypothetically speaking: At a 20% discount and a share price of $1.25 they would recieve a million shares for every 1 million in $$. Now if they are drawing down "in a series of twelve monthly tranches" as per the above newsrelease that would be 2 mill a month in cash and the same in Dilution at $1.25 share price. Still there is 8+ million shares being offered per month as well. At that rate the Float would roll over every 6-8 months or so depending on who you get your total outstanding from.Perhaps some see it as a buying opportunity, I have to disagree in order to sustain the current levels and drop only marginally if at all on a daily basis with that amount being flushed through suggest's a different game. Unless of course they can draw down larger amounts of the floorless per month say 5-6 million or more?? If that is the case then it should dry up fairly quickly you would think, yes no?? Perhaps the conversion is at 15% and not 20% which would add a little less creadence to the continuous flow. Any Thoughts?? Regards Mike