The Golden Lounge

[Potse]

MWM...TSAS.....

For what it is worth, there are a number of things regarding TSAS that would make me a little uncomfortable. The PRE 14C filed on 2/09/2011 provides quite a bit more information regarding the share structure, potential assets to be acquired, and the financial situation.

1) The current shares outstanding are 204M, giving the TSAS new venture a current market cap of $100+M.

2) Nowhere in the filing (unless I completely missed it) is there any mention of that $100M financing that was secured in 2010. Nor is there are any mention of any other completed financing. Instead the only mention of financing is the proposed private placement of its preferred stock at the equivalent of $1.25 per share, and the proposed $100M convertible note financing at $2 per share.

3) Now, whether TSAS can actually complete those financings at the target prices remains to be seen. But I don't think it is particularly encouraging that TSAS has entered into a financing and investor relations agreement with Wakabayashi Fund (which has had some problems with the SEC in the past), so I think that could make some potential investors uncomfortable.

http://knobias.10kwizard.com/filing.php?param=&ipage=7394548&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=