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

To: ztect who wrote (17250)	2/17/1999 11:41:00 AM
From: David A. Irvine	Read Replies (3) \| Respond to of 44908

** ANSWERS RE: PIERCY ** TSIG filed a form 8-K/A yesterday with the SEC detailing the termination of the CCI acquisition. Here is the link to free edgar: www1.freeedgar.com Here are the key points: 1) ALL agreements, modification to agreements, and EMPLOYMENT CONTRACTS with Piercy and Piercy's company are terminated due to a lack of audited financial data that were to be provided by Piercy to TSIG. TSIG owes Piercy nothing as of February 2, 1999, the date the termination agreement was signed. "....each of the Asset Purchase Agreement, the Addendum, the Modification, the Employment Agreement, and the Management Agreement (collectively the "Operative Documents") are hereby terminated, and each shall be unwound to the fullest extent possible and shall be deemed void in their entirety." 2) TSIG does NOT pay the 1% royalty fee as was called for in the now terminated agreement. "Each party waives any claim to any payment, royalty, fee, compensation or other form of remuneration, as the case may be, pursuant to any of the Operative Documents." 3) All ties to Piercy (the "Seller's Shareholder") Piercy's former CCI (the "Seller") are completely broken. "Seller and Seller's Shareholder agree that at no time shall they represent or "hold-out" to third-parties that the business of Seller is or was at any time affiliated with Buyer and/or TSIG." 4) TSIG (the "Buyer") has the right to use the MusicCard trademark forever with no cost. "Buyer may utilize the trademark/servicemark "MusicCard" or any variation of such mark, and Seller and Seller's Shareholder hereby consent to such use and waive any claim for future remuneration for any use of such mark." 5) TSIG, obviously due to the public confusion with having two companies named CCI (i.e., TSIG's and Piercy's), wants to end that debate forever. "To avoid any potential public confusion, no party shall use the name 'Compact Connection, Inc.'" Incidentally, Piecy's CCI has changed its official name to DP ENTERPRISES, INC. I hope this ends the speculation on the thread regarding the terms of termination. I will post the entire SEC document in my next message. There is other information in it, but I just wanted to hit the key points with this post. -Dave