MESSAGE TO THERMO TECH (part1)
by: TOASTMAN_2001
(39/M/Costa Mesa, CA)
Yahoo Message #26037 of 26068
The following correspondence was e-mailed to Wayne Hansen this evening. Part 2 of this message reflects many questions that have been recently posted as well as others which have been provided by other concerned shareholders. This is the first correspondence to be formally presented to TT management, with others which will follow over the following weeks.
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SUBJECT: IMPROVING SHAREHOLDER COMMUNICATIONS
To: Thermo Tech Management
Gentlemen,
We take this opportunity to sincerely thank you for your understanding, willingness and patience in supporting this process to increase company and shareholder communications.
The following outlines our communication goals and defines a process we believe will be effective in accomplishing these goals.
1) INTRODUCTION:
During the past couple of months initiatives have been taken to create a mechanism intended to provide enhanced communication between the Management of Thermo Tech Technologies Inc. and it's shareholders who choose to follow the affairs of the company on a regular basis. Some of the activities currently being pursued by various individuals or groups of shareholders are deemed to be as damaging to share price and the company in general as they are discomforting to some shareholders. A mutually agreeable means must be found to satisfy our goals to:
a) Eliminate or significantly reduce the ridiculous rhetoric, character assassination & misinformation circulating the various message boards.
b) Provide a forum that permits Thermo Tech management to address both controversial and more basic issues while protecting the integrity of management in respect to "Insider considerations".
c) Rebuild shareholder confidence in the existing and future management team to ensure a capacity for all to concentrate upon current and future issues effectively.
If these goals can be accomplished, we all benefit: Company & Shareholders.
No question there are a number of difficult or controversial issues which should be addressed. Some situations, attributable to perceived attitudes and/or inadequacies, have unfortunately been blown out of all perspective and currently look insurmountable. However, it is sincerely believe they can be handled. It is considered imperative that every effort be made to address the more difficult questions as well as the easy ones, otherwise little will be achieved and initiatives to rebuild confidence and meaningful dialogue with shareholders will likely fade away.
Some answers may have to be released in a news release format as they may impact all shareholders and/or may be forward looking statements.
2) COMMUNICATION PROCESS AT THIS TIME.
It has been agreed at this time that Peter Van Arhem will serve as the focal point for e-mail information exchange. To streamline the process of acquiring and disseminating information the following is proposed.
All questions submitted by various shareholders will be screened, categorized and prioritized prior to being forwarded. This will best ensure duplicate questions are not raised a second time and those deemed most relevant and important will be addressed first. If a question is considered unclear as to it's meaning or content, we ask you to request clarification as soon as possible. This clarification may be addressed via phone and/or e-mail to Peter, though we do ask you to copy either Jim Howard at howardj@istar.ca or Dave Bowen at toastman_2001@yahoo.com as it will expedite clarification considerably.
Once a response to the submitted question has been furnished it will be incorporated into the questions/answers database. It would be appreciated that all responses be tied to the specific question submitted.
(see Part 2 for follow-on of message)
Posted: Mar 29 1999 12:54AM EST as a reply to: Msg 1 by YahooFinance
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MESSAGE TO THERMO TECH (part 2)
by: TOASTMAN_2001
(39/M/Costa Mesa, CA)
Yahoo Message #26038 of 26068
Continuation of message e-mailed to Wayne Hansen.
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Because it is not our intention to change any response wording (and potentially change any meaning) it is requested that appropriate care be made to minimize any statement ambiguities. Additionally, unless specifically stated otherwise, it will be assumed that each response (along with it's associated question) can be posted on the message boards. This will allow for more timely dissemination and hopefully greater appreciation by the multitude of shareholders that frequent the net to obtain information.
Questions have been divided into two groups. The first group addresses the more general types of questions. The second group addresses more detailed questions.
3) GENERAL QUESTIONS:
a) Opening statement.
i) We would like to hear from TT that indeed we have now entered a new phase that every effort will be made to improve communications with the smaller shareholders. Are their any methods other than that presented that would better provide means, such as teleconferences, that the company would care to support?
ii) Can we be assured that TT will endeavour to have future news releases identify more realistic timelines?
b) Maximizing shareholder value.
i) How does management plan to increase shareholder value in the near-term? Long-term?
c) Chino and other potential new plants.
i) Can elaboration be provided on the current status of Chino negotiations, the total potential there, the timelines and projected profitability?
ii) What other potential projects can be discussed at this time?
d) Nathan Jacobson.
i) Will he still be involved in the Chino project, Richmond project, or any other future projects? If not, why not?
ii) What are the terms and conditions of the Baja loan?
e) Profitability of TT.
i) When will the Jan 99 quarterly statement be released?
ii) Can any proformas be provided so that a better understanding can be made regarding the ramp up to cashflow positive and then to profitability.
iii) What is the company doing to minimize operation and overhead costs?
iv) What have been and what are the proforma production levels of Hamilton I and Richmond from Oct 31 98 to Dec 31 99 and beyond (i.e. how many tons have been/will be processed at these plants?)
f) Dilution of shares (equity financing).
i) Why is this still going on despite previous assurances from senior management through news releases that it would stop?
ii) How much money has been received to date from the dilution activity?
iii) What has/is the money being used for? Capital expenditures? Overhead expenses? Other?
iv) When is dilution expected to stop?
g) $200 million debt facility.
i) Can debt facility be used to pay for construction costs of Ham II, and any bills outstanding on Ham I and Richmond?
ii) Can debt facility be used to pay for overhead costs until company is cashflow positive?
iii) Can funds be used to fund Trooper lawsuit, including settlement if require to do so?
iv) What is the cost of this money and exact terms.
(see Part 3 for follow-on of message)
Posted: Mar 29 1999 1:00AM EST as a reply to: Msg 26037 by TOASTMAN_2001
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MESSAGE TO THERMO TECH (part3)
by: TOASTMAN_2001
(39/M/Costa Mesa, CA)
Yahoo Message #26039 of 26068
Continuation of message e-mailed to Wayne Hansen.
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h) Harvey Ambrose deals.
i) Status of Niagara and Oshawa projects?
ii) Status of Harvey's approx 20,000,0000 shares?
iii) Status of $750,000 haulage fees in October financials? Can we please get a breakdown of these fees?
i) Trooper lawsuit.
i) What is status?
ii) Do you expect a settlement before the April 1 99, scheduled court appearance?
iii) Can you give us an estimate of what costs and damages may be?
j) $600,000 in B.C. provincial taxes. What is status?
k) Management roles.(i.e. Rene Branconnier, Wayne Hanson, Kevin Simpson, Dan Cummings, Owen
Anderson, Ed Kroeker, Others?)
i) What are the past, present and future anticipated roles of these and any other senior management personnel?
ii) Will Residential Resources Inc. have any input into constituency of management and roles/responsibilities?
l) TT Ventures.
i) What are the exact details and terms of this arrangement?
ii) Do any officers of TT have a financial interest in TTV, other than their indirect interest through TT?
m) Thermo-Enzymes.
i) What is status and progress?
ii) When is the IPO expected to occur?
iii) What is the anticipated share distribution of TTE to TT shareholders? Is it still 10:1 as was announced previously? When is this distribution supposed to occur? What is the anticipated opening price of these shares?
iv) What is the location of the TTE building? Is the land owned by Rene? Is TTE leasing the land from Rene? If so, is the lease rate a commercially competitive rate verified by an independent assessment? Where can shareholders get a copy of this lease?
n) Shares owned by officers and senior management.
i) How many shares does each officer and senior manager own directly and indirectly?
ii) Have any of these people added to or reduced their holding recently and/or do they intend to increase or reduce their holdings in the near future?
iii) Have any of these people traded shares recently directly and or indirectly with or without registration?
iv) It is alleged that Rene recently sent a fax to his broker to buy $900,000 of TT shares. This fax was allegedly sent in error to an incorrect fax address. Can any comment be provided regarding this allegation?
o) Audited Financial Statements.
i) Have any company assets been used or pledged to facilitate personal acquisitions by any Officer(s), Director(s) or Employee(s) of Thermo Tech or related/associated companies?
ii) If so, who oversees/approves these arrangements and are they documented in the company reports and records as defined by standard Canadian Accounting & Reporting practices ?
iii) Are any loans outstanding to or from the company related to Officer(s), Director(s) or Employee(s) of Thermo Tech or related/associated companies as of March 14, 1999?
iv) Has there been any distribution of funds made in the form of gifts and or bonuses to the group listed in iii) above, other than salaries previously disclosed.
v) Are there and or have there been any relatives of this same group under iii) employed by the company? If so, what have been or are their positions, renumerations and or formal training for these positions? Were or are these fulltime or partime positions?
p) Numerous Subsidiaries.
i) Why are there so many subsidiaries? Certainly this creates an unnecessary and costly administration burden, can many or most be eliminated?
ii) Have or are any of the officers, BoD and or senior management receiving renumeration of any kind from any of these subsidiaries in addition to or in lieu of renumeration through TT? Please include TTE in this grouping.
(see Part 4 for follow-on of message)
Posted: Mar 29 1999 1:02AM EST as a reply to: Msg 26038 by TOASTMAN_2001
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MESSAGE TO THERMO TECH (part 4)
by: TOASTMAN_2001
(39/M/Costa Mesa, CA)
Yahoo Message #26012 of 26029
Continuation of message e-mailed to Wayne Hansen.
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4) DETAILED QUESTIONS
a) What is life expectancy of plant components?
b) What has happened to the following previously announced ventures,projects and why did they go astray? Skagit, Spain, Halifax, Korea, USF, Russia, Corinth, John Hancock, IRB, Wm Blount, Washinging State and New York State.
c) When will Richmond be profitable?
d) Size of Richmond facility.......present.......future?
e) What was the building component cost for the Richmond plant? What was the total cost?
f) Who owns the land Richmond plant is on? What is monthly lease rate?
g) Have all the bills for Richmond plant been paid?
h) Have all the bills been paid on Ham I plant?
i) What % of bills on Ham II plant have been paid?
j) We hear rumours that TT wants to build a depackaging facility in Richmond. Why? What is the timeline on this project ? How will it be paid for?
k) We have also heard a rumour that the Brampton depack facility may be moved to Hamilton site. Same q's as j) above.
l) Please give us an updated list of all legal proceedings against TT and its subsidiaries.
m) Please give us a full accounting of funds received through the issuance of all shares.
n) What are present and future anticipated tipping fees in Hamilton and in Richmond?
o) What is the end product price in Hamilton and in Richmond?
p) Where can we obtain random samples of the end product?
q) Does the Mark II process achieve 100% Thermophylic Aerobic Digestion resulting in single cell microbia upon completion?
r) What is minimum tipping fee required to make a plant profitable?
s) How profitable can a 600 ton per day plant be? Please support with TRUE figures.
t) Has the BoD considered and or approved a reverse split?
u) What is the permitting status for Ham I, HamII and Richmond?
v) What is progress status on Ham II? What are anticipated sludge tipping fees for Ham II? Are these higher or lower than in other areas of NA or other countries?
5) VOLUNTARY DISCLOSURES AND SUGGESTIONS
a)We are sure you are aware, that some of the posters have alleged that Rene has accumulated significant wealth in the same time frame as many TT shareholders have suffered significant losses.
b) Is Rene,on a voluntary basis at this time, willing to:
i) Confirm or deny that he has accumulated considerable wealth in this time frame.
ii) Disclose the general source(s) of this wealth?
c) Assuming for the moment that he has accumulated significant wealth and that it was all legitimately obtained, above board.(i.e. internet stocks, inheritance, or whatever). In order to confirm his faith in the future of TT, which he and RRI have certainly promoted to all of us, would he be prepared to make a unsecured loan to the company? Assuming for a moment that the alleged #'s on this board are in the ballpark, this wealth would be in the order of $CD 10,000,000. The loan would then be $CD 5,000,000,or $US 3,300,000.
d) This loan would prevent the additional dilution of approx 24,000,000 shares. This show of faith would in itself provide a buy signal for the shareholders.
We look forward to an early response to all of our questions. Some through this forum and others through news releases as you deem fair and appropriate.
David Bowen
Jim Howard
Peter Van Arnhem
Many other anxious shareholders
Posted: Mar 29 1999 1:06AM EST as a reply to: Msg 26011 by TOASTMAN_2001
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