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Microcap & Penny Stocks : XSNI - X-Stream Network
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To: Wayne Rumball who wrote ()5/12/1999 7:57:00 AM
From: Jacalyn Deaner  Read Replies (3) of 3519
 
Spoke with Robert Manning at 6:50 AM and this is what he said:

1) Expansion is strong in Asia & Europe with well connecteed ties
2) Lehman Brothers in NYC is the Financial Advisor on a. future IPO activity b. application to get listed on big board

3) what happened is XSNI applied to get listed as IPO initially, however they completed wrong form, then they did get the XSNI symbol and approved for trade - a "broker made a market" by beginning to trade the issue and since activity on the issue began to be traded (ie became active) Stream could NOT get delisted and begin over again. They are on OTCBB and are real and to get listed anyhwhere else they have to go through procedures and shareholders follow the stock.

Ie - you buy now and hold, you go wherever that issue goes from OTCBB to NASD etc.

4) XSNI applied to get de listed and they found out they have to go through the regular procedures (as I had posted over the past weekend) and can't delist and get reissued - see above

5) Shares issued are 34 million; Warrants are 20 million; unissued are 30 million; no preferred shares. There are no unissued options.

Lehman Brothers came into the picture AFTER the fiasco with getting listed on the wrong board and were secured to get listed on the correct board and for Lehman to figure out what the best strategy to be is - going IPO was mentioned as one possibility.

That's it.

Jacalyn
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