Well actually it is not working how I need it to, but I was able to send the characters "ALARM" to the hyperterminal screen with a particular input on the plc. The original plan was to send the ascii string to hyperterminal, from there save to a .txt file then have a script that tests the file size and if the file increases in size (indicates an alarm) send out an email.
Problem I am running into is hyperterminal doesn't seem to send the .txt file until you physically stop the "text capture" option. So if an alarm condition happened with the plc it would show up on the hyperterminal screen but won't write to .txt file unless someone is there to stop the capture (for my app...defeats the purpose of not having someone there). Any suggestions are welcome.