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

To: AChan who wrote (9265)	11/9/1998 10:27:00 PM
From: MB	Read Replies (3) \| Respond to of 10903

AChan - If memory serves me correctly, about $1M of the $2M in debentures were converted on May 14th and 15th. That leaves about $1M left unconverted, as far as we know. IF Kernaghan converted at .25, he gets a price of 80% or .20 OR an additional 5M SHARES. That hurts, especially for a lousy $1M. Like I said before, TPI needs to find other sources for financing. They can kiss their stock good bye if they dare sign another debenture with TK at these price levels. Don't think for a second that Kernaghan won't take this thing down to .125. A $1M debenture converted at 80% of .125 = another 10M shares. See how ridiculous this is getting???