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Technology Stocks : Thermo Tech Technologies (TTRIF) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (4809)	10/4/1998 5:51:00 PM
From: Fate	Respond to of 6467

From Yahoo Thread CORRECTION TO 4 PART POST - BAHA TRANSACTION Saveourposition Oct 4 1998 7:05AM EDT I was at work when I noticed TTeed_offs question. There is only one computer there that allows access to internet. After posting that response I talked to some folks and we relooked the notes and realized I had misinterpreted. Here is what the correction to this note, given the nature of all these transactions, this one has been tough. Again these are opinions. I apologize for the prior incorrect post. I had initially read the notes and assumed TT were using Treasury stock for OTT. Therefore, due to this assumption of Treasury stock being used, the post titled "US ACCOUNTING LAWS AND PRINCIPLES (2) -thoughts" also requires a retraction and apology for posting an incorrect interpretation and thus misinformation. Second, third and fourth reviews now seem to result in the following summary and speculation of the transaction. 50% of OTT cost TT $11,545,464, or (if I recall correctly) the approximate cost of 1 TMP plant for 50% interest in OTT and to bring on board Harvey Ambrose who will supposedly secure the "confidentiality agreement" debt financing. OTT will assume the responsibility to build the plants in Oshawa and Niagara. In exchange TT acqured $6,705,308 of debt in the form of a note payable on demand, non-interest bearing, and no schedule of repayment. This is all that can basically be inferred from the information provided in the notes to the financials. Though I still do not believe, had Rene and company tended to a more focused agenda and placed higher priority on the business objectives, in lieu of pursuing what appears to be an apparent personal agenda, instead of wasting time and money with the Trooper partnership and court case, that the investors situation would be a much better one than it currently is. Had prudent management practices been followed we would not require a partnership with Harvey Ambrose nor a new subsidiary such as OTT. Furthermore, we would not presently find this company with a note payable for $6.7 million and most likely a cleaner form of debt financing in place with a beneficial stock price. I just wish they would quit playing all these games of obfuscated transactions. I stand embarrased and again apologize to all. (my opinions)