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TSBB ... NEWS just OUT! DarDaDog did you see THIS ?
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[QUOTE]Originally posted by Bigrod40: [QB] For anyone interested, here is a response from the company for the letter that I sent them. Dear Mr. ********** Thank you for your interest in TS&B Holdings. I look forward to speaking with you by phone in the near future. Due to time constraints tonight, in part due to hurricane Charley, I must send the same e-mail to everyone who has inquired about the recent restructuring and today's press release. The company believes that the restructuring will be of benefit to all shareholders, including those who have been with the company for an extended period of time. I hope you noted that today's press release contained earnings results from the company's 2nd quarter. TSBI earned approximately $474,000 for the quarter, or $.04 per share. In addition, the company currently has a net asset value of at least $.14 per share, which could improve once full year-end numbers are reported. This figure is obtained by adding the 1st quarter's reported $1.3 million net asset value and the $474,000, and by dividing that sum by the current number of outstanding shares - 12.5 million. Management intends to build a very substantial company, and the restructuring was a strategically important and necessary step. For those who wish to base their investment decisions on either fundamentals or trends, the company has clearly put two excellent quarters together. I should remind investors that the net asset value of the company was a negative $250,000 on January 1, 2004. While the price was $.02 or $.03 (pre-R/S of course) during that period, those prices could not be supported by fundamentals. Now the company presents a solid net asset value for consideration, as well as its best quarter of earnings. It is ironic that many TSBI investors have totally overlooked the giant steps forward taken by the company, and have focused on a trader's market that would seem to greatly undervalue the company's true condition. Sooner or later, the market for TSBI will begin to reflect the current value of the company, and investors will begin to analyze the company based on reason, and not emotion. That moment will be another step in the transformation of TSBI to a progressive, motivated Business Development Company (BDC). I believe TSBI's registration as a BDC on January 5th of this year, has also been overlooked by investors. This special designation under the Investment Act of 1940, permits the company to build in ways most advantageous for shareholders. I have a 4-page newsletter that provides many details of the BDC status, and will be happy to forward it to you upon your request. Once shareholders understand the finer points of life as a BDC, I believe there will be a better understanding of why management chose such a course earlier this year, and why they are share continued optimism about the future of the company. I welcome your calls to discuss any TSBI topics, including valuation issues. You can reach me at 386-216-5248. I have a meeting tomorrow from 9:15AM EST until approximately 2PM, but otherwise will be available to shareholders any day this week and thereafter. If you reach voicemail, there's a good chance I am discussing TSBI with someone else, and I assure you I will get back to you as soon as possible. Sincerely, Warren White [/QB][/QUOTE]
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