Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: Artemous who wrote (2288)	7/16/1998 10:16:00 PM
From: Jester	Read Replies (2) \| Respond to of 44908

This is for EVERYONE, but especially you Artemous, I guess that in some ways it is my fault because I forget when I post to a thread for the first time that not everyone will know who I am. I just forget sometimes. Of course everyone should do their DD before investing in any company but I hope you did yours. So, I will do my part to contribute to the effort here. First let's consider the company. TSIG, Compact Connection, formerly Teleservices Group, formerly Guarantee Time Acquisitions. 14.4 to 1 reverse split in 1996 then chapter 11. We all know the company lost $18 million last year, -.70/share, had revenues of $2.3 million and has an accumulated deficit or outstanding debt of $26 million. In addition they are in default to their creditors and the IRS.(10ksb) The Compact Connection acquisition is not a done deal. The former CC, now DP Enterprises, has not yet provided a financial audit, and so according to the 8/A filed July 13, 1998 with Edgar they have another 30 days to provide it or the deal can be killed without penalty. The deal is for intellectual property rights to the CC name and card concept and is in exchange for 6M common shares plus a 1% royalty of the net income realized from the site, paid quarterly. Intellectual property, huh. The outstanding shares are 34,574,919 common and 10,000,000 preferred as of March 31, 1998 for a total of 44,574,919.(10ksb). I would really like an update on the float which I don't have right now. Why? Well, this brings us to the insider selling question I alluded to. The company has filed several 144's (right for insiders to sell stock) recently. The most recent filings are June 8, June 19(2), June 26, and July 10. That's right, 6 days ago. I don't have the specifics. But my main question goes back to the CEO, Gordon. The insider selling of shares has been rampant. Gordon received the rights to sell 7 million common shares bought for .15/shr in Dec of 1997. He exercised that right and sold 6,480,000 shares of common stock on May 8, 1998 (S-8 filing June 25, 1998). This was noted on this thread somewhere around post 1530, but apparently ignored. But, before he did, on April 20, 1998, he received the right to acquire another 7 million shares at .15/shr and sell them on the market. I want to know if he just sold some of those shares. You asked me why they would do that. A company $26 million in debt trying to finance the completion of their website has to get money from somewhere. How many lenders do you think are lining up to lend a company $26 million dollars in debt and in default to their creditors any money? The stock traded like it was sold off against buys today, not like it went up on all buys and then the day traders took profits. That is why I asked the question originally. At this point I want to know who filed the 144s, how much they want to sell, and whether Gordon is going to or has sold another 7 million shares into the float to raise capital. I don't own this stock yet, and believe it or not it is not inconceivable that I will buy some in the future, but not before I get these answers. I think you guys should busy yourselves reading the SEC filings instead of speculating on day traders and personality flaws. Anyway, a phone call to the company with some questions about outstanding shares, the float, and insider selling is in order. djb