Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks! -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (1115)	1/29/1999 9:39:00 AM
From: igor	Read Replies (1) \| Respond to of 1348

Do you know who owns the debentures? igor

To: baystock who wrote (1115)	2/1/1999 1:58:00 AM
From: seeker1	Read Replies (1) \| Respond to of 1348

As per my earlier posts, I for one do not intend to sit idly by while our company suffers from the actions and (in)actions of current management. I am hopeful that changes will come soon. I am curious about your reference to the outstanding convertible debenture amount of $4.3M. In fact I've heard the original amount of $5M bantered about many times. Where do you get this number? According to the December 31 statements for the years 1995-1997, the outstanding debenture amounts were $1,275M, $899,000 and $234,000,respectively. The corresponding amounts for the reported interim statements for 98 were $171,000(Mar), $74,000(June), and $382,000 (Sept). Maybe some of this liability has been assigned? Our answer no doubt lies with the increase during the same period of those liabilities due to Dominion Properties, (50% owned directly/indirectly by SP) and Romith (50% owned by a former? director) have increased from NIL September 30, 1997 to $2,897,000 as of September 30, 1998. Our problem, as I see it continues to be the liquidation of the SP owned shares, and the subsequent cash raises being "lent" to the company for expenses. Who knows what the exact terms are for the funds SP is "lending" the company to fund his salary etc. The amounts now due to Dominion and Romith are probably staggering, but probably still not enough, even if converted, to control the company. I think you're right that unless shareholders begin to assert their collective will, this company is headed for bankruptcy. Further thoughts?