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

To: Bald Eagle who wrote (10947)	12/5/1998 4:13:00 PM
From: David A. Irvine	Respond to of 44908

Bald Turkey, You are correct that there is always that concern that "the people who bought the PP ( I forget who it was ) might try to force down the price of TSIG so that they will get a s%^t load of TSIG shares for their money." I think Rob Gordon is aware of this, however, and I assume will try hard not to let it happen. Gordon actually has first hand experience, so I am sure he would do anything in his power to make sure it doesn't happen again. We will be able to tell when we learn the details of the PP. -Dave EDIT: Just kidding about the Turkey comment! ;) This is from the 10Q filed 11/13/98: www2.edgar-online.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."