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

To: REW who wrote (23260)	4/2/1999 12:10:00 PM
From: chapin	Read Replies (1) \| Respond to of 44908

By: Dueprocess Reply To: None Friday, 2 Apr 1999 at 11:49 AM EST Post # of 7004 Just spoke with Paul Henery: I feel so much better after speaking with him. He had to catch a plane so the conversation was short, but here it is in a nutshell. I am paraphrasing some of the discussion. First, I think he is frustrated with the boards in that someone posts a message and gets everyone worked up and the author is misreading or misunderstanding the 10K. Bottom line, he says call and ask questions, don't assume anything until you talk with the company. He says the 10K is a worse case scenario report. It does not necessarily reflect the current situation, just relaeases the worse case scenario. E.G. Gordon's 41 million shares is a worse case scenario if the company accepted a loan from him of approximately $5 million. Converted shares would give him 41 million. Currently this is not the case and he doesn't expect to have to ask for the money. Second, the IRS issue is the old payroll issue of the past. They will be working out a deal with the IRS (personally I thought it already was done and I may have misunderstood - short and fast call), but it will be negligble in view of all the money saved over VSI. He mentioned that TSIG is eliminating millions in debt (I think he said 5-6 million) with the VSI bankruptcy. He said the equipement was purchased with TSIG money and placed on TSIG asset sheets the same day. VSI was merely an agent of sorts. Worse case - they save millions with VSI and buy back the equipment. He said it's no big deal for either issue. Granted, I think it is a bit more complicated than that, but this is the gist of what I was able to gather. In this respect, I wish someone with more experience had spoken with Paul Henry so that they could gleen more from the call. I am trying not to misinterpret what was said. He also said there are only 72/76 million shares outstanding, not 114 million. See the front page of the 10K. He then had to go catch his flight. In short, he sounded forthright with me. He didn't seem to be overly surprised at the shareholder's reactions. He said he's worked with small companies before. I didn't get a chance to ask if there could be planned a shareholder's meeting to talk more. In short, no hype or bashing intended. I feel more confident after speaking with Paul Henry and suggest that others call him to verify what I have posted here. Again, the gist is here, but take it with a grain of salt because he spoke fast and I may have not quite understood all he said. Bottom line, I feel better. It sounds as if nothing has changed in the last few days, but our perceptions. Panic set in a pushed us down. Nevertheless, time will tell. I tried to be accurate here and I didn't get a chance to ask re: the payoff off the debenture and other questions I had. I'm surprised he called me before he left. Let's wait for Marty to get the full story. Best to all, DP