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Microcap & Penny Stocks : TSIG (Compact Connection) Undervalued Internet Stock -- Ignore unavailable to you. Want to Upgrade?

To: Gicone who wrote (4)	7/26/1998 7:35:00 PM
From: Joll	Respond to of 7

There have been a lot of negative testimonials. Unfortunately, a great many more have not made their opinions known to this group. I cannot say whether Compact Connection is now filling their customers' orders on a timely basis on not, but that is not my primary concern. As a former CCI Music Card dealer, I can tell you that Darrel Piercy, CCI/DPI president has not reimbursed any of the dealers who were forced out of business by his failure to deliver their customers' music during the 1996-1997 period. Many of these ex-dealers paid Mr. Piercy between $15,000-$30,000 for their franchises. Mr. Piercy readily acknowledges his liability and routinely promises to make restitution. He has promised to do so (in my case) six times since last August, but his check never seems to arrive. I have a list of ten former dealers who are in the same position. Mr. Piercy/CCI's legal liability is incontrovertible, and I know of two situations where former dealers have won judgments against him in Irvine's Harbor Municipal Court. In both cases, Mr. Piercy did not even bother to appear for the proceedings, undoubtedly because (1)he had no defense against the plaintiffs' charges, and (2)why spend the money to retain an attorney when he knew he'd lose the case? These cases are a matter of public record (as are the uncollected judgments) and can be verified by anyone who cares to check. Any of the former dealers might spend the requisite $1,500-$5,000 to get their own judgments against Mr. Piercy; the only problem is, they can't collect. Mr. Piercy has hidden his assets so well that the attorneys can't find them. According to employees at TSIG, he is not even drawing a salary (how convenient--you can't garnish wages that don't exist). An attitude of "Yes, I owe you. But go ahead and sue me, I have no verifiable assets" is neither forthright nor honest; it gives him the freedom to enter into contracts he has no intention of honoring. Additionally, there are pending actions against Mr. Piercy in the Orange County District Attorney's consumer fraud protection office. These are also a matter of public record, for those who care to check. So, even if Mr. Piercy now has over a million satisfied customers (as he claims) he still hasn't compensated his former dealers, whose money he used to bring his company to this point. In short, we need to be clear on what we are talking about (and complaining about). (1)There are former customers whose credit cards have been debited, but never received their merchandise; (2)There are former dealers who have been promised compensation, but never paid, and (3)There are present customers who may well be receiving their orders. From an investment point-of-view, it seems foolish to buy stock in a company that has such a checkered past and so many legal/financial liabilities looming beyond the pale of public scrutiny. From where I sit, Darrel Piercy does not conduct business in an ethical manner, an opinion shared by both the Irvine Chamber of Commerce and Better Business Bureau, both of whom have forced him to stop using them as references in CCI's promotional materials. This, too, is a matter of public record.