Replies to post #22102 on The Golden Lounge

[SSP]

This is good also - 8-K filed on 01/15/2004:
Acquisition of Company

On December 31, 2003, Registrant acquired 100% of the capital stock, otherwise known as membership interests, of TCS Acquisition LLC (TCS), a California company based in San Diego, for a total purchase price of $1.6 Million plus the following described warrants. Terms of this consideration paid to acquire TCS are as follows:

i) $1.3 Million cash which was paid to TCS by Registrant upon closing the acquisition:

ii) $300,000 in convertible debentures having a three-year term, requiring monthly interest payments at a rate of 7 1/2% per annum, and convertible in whole or in part during their term into common stock of Registrant on the basis of one share per $.20 of debenture principal; and

iii) a total of 1,309,321 Stock Purchase Warrants, with each Warrant having the right to purchase one share of common stock of Registrant for $.20 until expiration in December 2006.


TCS owns 100% of TCS Mortgage Inc., a California mortgage banker and broker providing residential mortgage lending services and mortgages from its offices

[gdog]

they need to f/s make it a little more liquid