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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy) -- Ignore unavailable to you. Want to Upgrade?

To: mike wood who wrote (588)	1/18/1999 8:06:00 PM
From: Nathan Hansen	Read Replies (2) \| Respond to of 1208

This is GOOOOOOD NEWS for us, Mike. Never mind the esplanasion's. (sic) cheeers......

To: mike wood who wrote (588)	1/18/1999 8:39:00 PM
From: Edward W. Richmond	Respond to of 1208

Mike, I don't know how a debenture (basically an unsecured bond) would require any specific stock price. If they are convertible debentures, the ratio for conversion would be established when the debenture issue was floated. The exercise price for the warrants issued in 1997/1998 was $2.00, but I don't see how this has any impact on stock price. I do hope the rumor is accurate. Regards, Ed

To: mike wood who wrote (588)	1/19/1999 7:53:00 PM
From: Tupulak	Read Replies (1) \| Respond to of 1208

Mike, I am not sure what it is that you are trying to say. I highly doubt that anyone is converting their debentures at the moment at these prices. I may be wrong on the conversion price but believe it to be around $1.50. This would give you approx. 66.66 shares per $100. bond. So why would any convert something that they are getting 8% return for something that is worth less than half of the face value? I have noticed that some of the debentures are selling on the open market for $75.00/$100.00 face value. They will trade similiar to a bond until the stock price is above the conversion price then become priced off of the stock. I hope this helps and I am still watching. Curtis