To: Malko who wrote (2501 ) 7/20/1998 1:59:00 PM From: Steve Lin Read Replies (3) | Respond to of 44908
Concern #2: Unconfirmed financials and past performance of CCI. Since CCI never delivered on the financials, it casts doubts on their claims on their statements: 1.5 million customer base, 800K in profit last year, etc. I think we all marvelled "what a great deal TSIG made" for 6 million shares. That is a question I need answered myself before I invest in TSIG. Why would a company like CCI, with great prospects and strong financials enter into such a deal with TSIG. Keep in mind TSIG at that time was fraught with managment mishanles and cashflow problems. Why would CCI make such a deal with a company plagued with so many problems? I'm not saying this is the case, but is it possible that both Mr. Gordon and Mr. Pearcy both know that CCi's financial and past performance would not fly with us investors; and this complicated manuver of subsidiary and name change and licensing agreement is just a way of letting the public think that the deal has comsumated and they can commence pulling off this internet play? If it's true it's very smooth dealmaking. The question is: could TSIG perform if CCI was not as smooth a company as it says it is? The little evidence of CCI's past performance I can find is not a flattering one. Check out this complaint that was posted on Raging Bull. Complaint against CCI ece.utexas.edu Don't get ripped off by mail order crooks! I would like to share with you a bitter experience I had, so that you can avoid making the same mistake of doing business with Compact Connection, Inc. (CCI) from Irvine, CA. In October 1996 I decided to shop on the Net for a music CD that wasn't available from any local dealer. After comparing prices of a few businesses, I decided to order it through CCI, who offered any CD for a flat rate of 9.99 incl. s&h. (This was about half the price I was quoted on average for that particular album). Although this company requires you to have a "music card", which costs $10 for 20 CDs, I was able to obtain a tryout one (good for only one CD) free from their distributor, MusicWorks. All happy, I called up CCI, placed my order, and sent them my payment. "You CD should receive the CD within 3 weeks to a month", they said. Month and a half down the road, not having received anything, and being that they have cashed my check, I called them to see what happened. They told me that they had had trouble finding the record label of the album I requested (which by the way is made by Sony Music, and determining this took me about 15 minutes of Web searching). Being very disappointed from their handling of the situation, I asked for my money back. "We'll mail you a refund sometime this week" During my second call, after 3 weeks passed without any response, I learned that "refunds take about 3 weeks to process" and I should be getting a check in a few days. Another fat lie. To this day (7 months since my order, about 5« since request for refund, and after about 20 time wasting calls to both their regular line and the manager's office) I have received nothing except for rude treatment and lies. When I asked to talk to the manager, Mr. Darrel Pearcy (sp?) , he refused to speak to me. This is about the worst treatment I got as a customer so far, and apparently I am not the only victim of CCI and their representatives. From a search through UseNet archive on DejaNews I found out that several other people have had very similar trouble with this company. Too bad I haven't checked that archive out before I gave them my money! Conclusion: Before you purchase anything from a company that you don't know, try to find out what others have to say about it, whether by searching existing articles, posting a question to an appropriate forum or any other means. There are too many scams online, from obvious such as pyramid schemes or other money soliciting messages, to more cleverly hidden ones such as "virtual" businesses with virtual merchandise for your real money. Be careful not to fall prey to one of them!