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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON? -- Ignore unavailable to you. Want to Upgrade?

To: Loren S. who wrote (2970)	7/2/1998 6:57:00 PM
From: Moonglow	Respond to of 6931

Loren, I don't have any info one way or the other, but logically, what other reason could there be....except for the issuing of more shares. I've been thinking that for a few weeks now. Let us know what you find out. Juanita

To: Loren S. who wrote (2970)	7/2/1998 7:33:00 PM
From: Untouchable	Respond to of 6931

Loren S. I hope it is not so. However, I appreciate your passing along the info you have heard. Someone needs to call and find out for sure if this is true. I for one would be very disappointed and would consider getting out. It looks to me if they will be patient the money will be there. I realize TSIS has signed new clients, it takes more equipment, but give me a break, get a loan or something. Any of our early investors have a response to this? Untouchable

To: Loren S. who wrote (2970)	7/2/1998 8:16:00 PM
From: R. Gates	Respond to of 6931

Loren, I'd love to have the exact address of the message board where all this negative info is being posted. Other info I've gotten recently would seem to indicate that THERE IS NO WAY TSIS IS SELLING SHARES OUT THE BACK DOOR RIGHT NOW. But I would like to see the posts myself. And I will talk to Scott tomorrow...but I'm pretty sure of the answer... TSIS's high volume today would indicate that something IS UP...but not what the negative posters are thinking... Best Regards, R. Gates

To: Loren S. who wrote (2970)	7/2/1998 9:44:00 PM
From: Tobasco	Respond to of 6931

Re: the sale of shares by "friendly brokers" A possible explanation could be that someone may be wishing to sell a (large) number of shares for lack of ability to wait out the inevitable rise in TSIS or other personal reasons to raise cash. Rather than put a lot of supply in the market and cause the bid to go lower "friendly brokers" may have been enlisted to put these shares in the hands of people who may be friendly to TSIS, or to just "bleed" the shares into normal daily trading. If TSIS were involved in such a transaction this would actually be of service to shareholders as the MMs would not have a "field day" in pushing this stock lower and give them an opportunity to cover the precieved short positions and/or then buy it back at the low price to scalp a few cents on the way back up.

To: Loren S. who wrote (2970)	7/3/1998 7:58:00 AM
From: jmt	Read Replies (1) \| Respond to of 6931

>>>>I would be very disappointed in the Camerons if so. I know they are trying to keep the company out of debt, but by further dilluting shares, they would be destroying our shareholder value.<<<< This is not necessarily true. There has been much debate in the financial community concerning whether debt or equity better enhances shareholder value. Companies highly leveraged with debt are unatractive to investors for the obvious reasons. The place where debt actually adds value is interest expense is tax deductable, lowering the bill to uncle sam. Earning are lower with debt because of interest expense. But there are more shares with equity financing. In the end the only difference in the earnings per share is the tax benefit, which is offset by the leverage impact on the stock price. Principle payments must be made, taking cash away from operations. With equity the company can hold off on dividends until they can afford it, better financing growth. So to say new stock issues are dillutive is only true if they are offering the shares out the back door at a large discount to market price. jmt