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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: peacelover who wrote (10207)	11/19/1998 9:46:00 PM
From: ztect	Read Replies (1) \| Respond to of 44908

Per the 10Q: I also found this notation which could explain why this thread attracts so many thread morons... stockprofiles.com 4. Subsequent to the end of the period covered by this report, Felcrest Trading Ltd. ("Felcrest"), a defendant in a lawsuit filed by Robert P. Gordon, individually, filed a third party Complaint in Circuit Court for Pinellas County, Florida, on October 23, 1998, against TSIG, VSIC, and current and former officers and directors of TSIG and VSIC and other third parties (collectively the "Third Party Defendants"). The third party complaint asserts civil claims for unspecified damages against the Third Party Defendants for alleged securities law and uniform commercial code violations, fraud and negligent misrepresentation, in connection with a private loan made by Felcrest to Gordon. The Third Party Defendants were not parties to the private loan made by Felcrest to Gordon, and Management believes that the third party claims are without merit. The original lawsuit was filed by Mr. Gordon against Felcrest on February 9, 1998, in connection with a loan agreement wherein Felcrest loaned $1 million to Mr. Gordon. The loan was secured by shares of common stock to TSIG owned by Mr. Gordon, and was convertible into those shares unless the loan was first redeemed by Mr. Gordon. Mr. Gordon alleges in his complaint that Felcrest manipulated the market price of TSIG's common stock, by engaging in short-selling, in an effort to cause a technical default in the loan agreement which triggered a substantial penalty and permitted Felcrest to convert the loan into shares at an artificially reduce price. Are these the convertible debentures to which DitchDigger refers? Could so many of are instigators be proxy for Felcrest? Or maybe part of the other lawsuits noted in the 10Q????? Not trying to cast aspertions myself, but I always wonder why people who "obviously" don't like a stock stick around for so long????? ztect