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.

Technology Stocks : Turbodyne Technologies Inc. (TRBDF) -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (1548)	8/5/1998 11:46:00 PM
From: Mike C2	Read Replies (1) \| Respond to of 3458

John, Go to one of your favorite sites & "Do your homework man" <<Surely they must have done a dilutive private placement. Unless the money fell out of the sky, a private placement is the only way it could have happened. And considering their cash liquidity situation and previous financing practices, it was probably a discounted convertible. But they never announced it. There are no SEC filings or news releases that I could find disclosing a private placement. If this had been a US co., they would have been compelled to file a disclosure. This failure to disclose means shareholders have no idea how much dilution taken on. And that comes after a monumental amount of dilution over the last year or so, with shares out doubling from 3/97 to 3/98. Just call this one "TurboDylution">> Geez, John who are you claim excessive dilution when you don't know what you know? The Edgar site I use has TRBD's annual report posted on 7/15/98 (the 20-F) sec.gov I don't mind reasonable dialogue from responsible shorters, but before you make yourself look foolish...do a little homework. If you happen to look at the notes to the consolidated financial statements (11-13) you will observe that there has been some option conversion and that the company is negotiating for further debt or equity financing to get through this year. I, for one, hope it's not dilutive. My bet...an equity stake from an automotive entity like VW, TRW, Borg-Warner, or MAN. The second quarter statement is due shortly. I have been told there will be a conference call. Why don't you call the company (800 350-2031) and request a copy of Form 61 dated 5/29/98 which is the company's Canadien filing of their 1Q 98 financials. In that report you will find, in Schedule B: supplementary statement that "...subsequent to March 31, 1998 the Company issued 2,194,068 shares of common stock for gross proceeds of $9,046,000 on exercise of stock options." Do you suppose that might account for some of the company's larger 2nd quarter cash position? IMO there have been some less than salutory financing activities late in the first quarter as the company had some liquidity issues. Many longterm holders have had discussions about some of the issues you have so blithely raised. Do you think we need you to tell us? Do your homework. If you really bother to do your due diligence as many of us have and continue to do... you will find that the promise of their new technology, though not revolutionary, is worth a heck of a lot more than what Herb Greenberg or Asensio publish. For those Turby dedicates...remember to check the profiles of all these new names. You can't tell the players without a scorecard :) If you're short and have something constructive to add to the mix, IMO you are welcome. Hope you know how to be nimble. I believe the company is close to major good news. I think your window of opportunity is narrow. And I hope your actions will afford me the opportunity to pick up more shares at lower prices. thanks. And I apologize for my biting comments. They probably will only invite more. You can understand why some of us are a bit upset. I'm sure you are not a jerk, just kneejerk responding like one. Mike C.