X-Message-Number: 685
Date: Sun, 29 Mar 92 00:38:58 EST
From:  (Perry E. Metzger)
Subject: For CRYONICS list: RE: Stock offering

   Message: #681 - Trans Time Stock & Facility
   Date: Thu, 26 Mar 92 17:11:07 -0800
   Message-Subject: TRANS TIME stock offering and facility purchase

   March 26, 1992

   TRANS TIME now has another offering of its common stock available. 
   You can obtain a copy of the Offering Notice by dropping a note
   with you postal address to   
   The main use of the proceeds of this stock sale is to obtain a new
   facility.  Let me inform you of some important recent developments

Far be it for me (being a libertarian) to point this out, but by
making an offering without appropriate disclaimers you have just
violated about a dozen securities laws. Being in the industry, I'm
sensitive to such things.

Now, I don't believe in these laws myself, but violating them when
obeying them is so important to your well being IS indicative of a
very slipshod operation. I would never, myself, consider touching a
company incapable of sticking an appropriate "This is not an offering
which may be made only by prospectus" sticker on it. I also wonder
whether or not the securities in question are properly registered. If
they aren't, you've just violated a whole other bunch of laws.

Again, I want to emphasize that I myself don't believe in these laws.
Its just that so long as we live in a highly regulated society those
who do not follow the rules tend to come to bad ends. As someone who
makes a large fraction of his income from investing, one notes such
things very carefully before touching a potential investment.

One also wonders why Trans Time would be hawking its own securities
when one generally gets an investment bank to do that. Even shoddy
operations of fairly low capitalization can usually manage to get an
IB interested; I'm suprised you guys can't.

Perry Metzger

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