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

To: Ellen who wrote (17099)	2/14/1999 5:41:00 PM
From: TOPFUEL	Respond to of 44908

Great Post Ellen :) David

To: Ellen who wrote (17099)	2/14/1999 7:25:00 PM
From: Jazzbo	Read Replies (1) \| Respond to of 44908

Ellen, Perhaps. ( "...reached agreement to proceed to market and sell MusicCard Products on its own", suggests a complete break from any prior agreement, including the licensing agreement). I wouldn't bet the farm on the PR, or your interpretation. I don't deny that you may well be right, either. The licensing agreement may be dependent on the audit, too. Invalid audit, invalid license agreement. To keep Piercy from holding TSIG from going forward with its business, or to prevent a lawsuit, I would not be surprised if Piercy received something to just go away. The document we've seen doesn't say that, but who knows... I still don't believe that Piercy will get the 1%, but even if he does, its not very significant. The shares, on the other hand, I feel are more significant. All of this is, of course, just my opinion. Regards, TS

To: Ellen who wrote (17099)	2/14/1999 8:43:00 PM
From: Andrew H	Respond to of 44908

>>So the agreement to acquire the assets is terminated. The licensing - the exclusive right to market the card concept - remains in effect. Under the licensing agreement, Piercy receives the 1% net royalty.<< Ellen, that is my understanding as well from the SEC filings. >>LICENSE. Seller hereby grants to Buyer for the Term of this Agreement as recited herein the exclusive right and license to use the Intellectual Property in connection with an internet web-site being developed by Buyer for the sale of pre-recorded music.<< TSIG has indeed used and will continue to use the intellectual property rights provided by Piercy, the way I see it. So the licensing agreement should remain valid. However, we should get clarification from the company to make certain, since it is possible that other agreements were made after the July filing, especially most recently before the PR. To me, it seems more than fair that Piercy gets 1% of the profits from Internet music sales since he did provide the card concept to TSIG.