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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON? -- Ignore unavailable to you. Want to Upgrade?

To: gary g who wrote (5020)	1/15/1999 9:52:00 AM
From: jmt	Read Replies (1) \| Respond to of 6931

Gary: I question the logic of a credit line at this stage of the company. A committed facility would cost $ to structure, require a negative pledge of assets, and be expensive to borrow against. I agree that as the company becomes more established, and Debt becomes cheaper than equity with its related tax benefits it would be beneficial to have some debt on the books, even if used to repurchase shares. But with NOL's the tax benefits could not be realized for a couple of years. Under what terms would you approve a credit line for TSIS? jmt