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Microcap & Penny Stocks : YOUR FAVORITE INTERNET PICK..... AND WHY ?????
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To: Stock Watcher who wrote ()12/17/1998 9:40:00 AM
From: Paul Berliner  Read Replies (1) of 962
 
PSI Net (PSIX) - a truly global business ISP with tons of bandwith on the balance sheet. Co. has offices worldwide and has been quietly acquiring ISPs in other countries while the AOLs are resting on their laurels in the U.S. Subscriber growth is booming and Co. has a monopoly in many smaller countries which are just beginning to incorporate IT into their infrastructure.... The Co. has recently issued bonds and has cash in escrow to pay the first several years interest on them.. With plenty of cash & equivs., the Co. will continue to make acqs. around the world. The only question is - when will Wall St. notice and give PSIX a ride into the stratosphere? The Co. was a fave for a while a couple of years back, but it has been relatively absent in the net rallies - its up from 5 to 20 this year, but I dont believe there's been a single day when it was up by more than a couple of points. The smart money is accumulating....
There's litigation against the Co. by a british venture capital fund
or something that signed a deal for a J.V. with PSI Net many years back and it was supposely canceled (though never formally). The VCs now want a piece of the PSI Net pie. The litigation should drag on for a long time, or PSI Net will probably settle for a nominal amount.
Bottom line is that the Co. has been growing quite rapidly, subscriber growth is booming and the Co. should be profitable by late 99. If it
were not for constant acquisition-related expenses, co., would be profitable now. It deals primarily with businesses rather than individual accounts.
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