SI
SI
discoversearch

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 : TPII - Year 2000 (Y2K); Groupware; Client Server Migration -- Ignore unavailable to you. Want to Upgrade?


To: MB who wrote (8702)9/10/1998 1:59:00 PM
From: Jeffrey S. Mitchell  Respond to of 10903
 
Amazing timing. The date of the conference call was the same day as the conversion. That allowed Mighton's friends to convert at a low just before he pumped the stock back up a few hours later. The MMs, of course, knew this and were only too happy to run the stock up for these guys to dump those new shares at a huge profit to everyone here who was suckered by the conference call. This is investor rape.

Chart:
tscn.com

On July 8, Dave Gore reported from the conference call:
They are considering many different options for additional monies (if necessary), but won't have to do debentures or anthing dilutive, it seems. #reply-5134185

Then, two days later, according to the 10Q:
On July 10, 1998, the Company issued for cash, two $250,000 6% Convertible Debentures totaling $500,000. #reply-5713805

The timing of the conference all, the blatant lies about not doing any more dilutive financing when if fact the deal was already done, the lack of effort to get a beta site with Bigisoft, and another horrible quarter, leads me to downgrade TPI from "possible SCAM" to "probable SCAM".

Furthermore, I would not be surprised if kickbacks are being given to Mighton et al from these financings and funneled into their off-shore accounts.

- Jeff

FYI:

To: MB (7977 )
From: Alan Coccio Wednesday, Jul 8 1998 1:02PM ET
Reply #7979 of 8702

Looking very strong MB. 52 trades so far as I write this and only 10 have been sells. Bid up to 1.00 now which is very encouraging. I've seen nothing to account for this strength. Perhaps anticipation of something good coming from the conference call???

(EDIT) Now 67 trades (7 minutes later) and 1.06 X 1.12

#reply-5130417



To: MB who wrote (8702)9/10/1998 2:00:00 PM
From: Robert Gomez  Respond to of 10903
 
I thought there was 500,000 in convertibles. Now it looks like 2,000,000. We have been lied to, big time! Now what? How many shares outstanding after dilution? 16 million plus another 4 million from the debentures.



To: MB who wrote (8702)9/10/1998 2:03:00 PM
From: SAL SHEYKHREZAI  Read Replies (1) | Respond to of 10903
 
that is why people are selling out @ 0.47. No trust what's over with
this company. As soon as I recover my $ (0.80), I am out.

sal



To: MB who wrote (8702)9/10/1998 5:58:00 PM
From: Alan Coccio  Read Replies (1) | Respond to of 10903
 
Did he think we wouldn't find out about it?

MB, I think it's time we began to realize that this was not a consideration. While TPI is in this "trying like hell to get business" mode, there is no shareholder that makes much of a diddly damn difference to the company. The company's survival, hence their allegiance, goes to those providing the funds for them to continue in business and to continue to draw a paycheck. That ain't us!

Our only course of profitable action would be to follow the lead of the debenture holders. Problem is that we aren't told of these actions until long after they are completed. This leads to an obvious decision regarding any thought of investment in this company doesn't it? Like anything else, the stock then becomes a trading vehicle and not an investment vehicle. You'll sleep much better at night too.

Alan