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Technology Stocks : QINNET---- CHINA INTERNET---- QNNT

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To: Bruce A. Brotnov who wrote (53)	4/3/2000 9:40:00 AM
From: ChainSaw	Read Replies (1) of 69

Bruce, This news out on the wire will explain the present position of the company. 4/3/00 - Re Obligation to Become Registered Under U.S. Securities Act QINNET.COM, INC. ("QNNT-L") - Re Obligation to Become Registered Under U.S. Securities Act QINNET.COM, INC. (the "Company") issued the following press release to address its obligation to become registered under the United States Securities Act of 1934 (the "Act"). Effective March 20, 2000 the NASD added an E to the Company's trading symbol to reflect the fact that the Company is required to become registered under the Act by April 19, 2000 to avoid its shares being removed from quotation on the NASD OTC Bulletin Board. In order to address this requirement within the time required, the Company is negotiating a simple plan of reorganization/merger with a shell company that is registered under the Act to qualify the Company in accordance with Rule 12g-3(a) promulgated under the Act. It is anticipated that the merger will be accomplished by the issuance of a very modest number of shares of the Company and will be completed well before the Company's registration deadline. The Company also announced that it has granted options to directors, officers, employees and key advisors to purchase a total of 187,500 shares of the Company at a price of $13.00 per share, being the current trading price of the Company's shares. Certain matters discussed in this Press Release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and, as such, may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. TEL: (818) 291-6250 QINNET.COM, INC. FAX: (818) 291-6251 Internet: qinnet.com ______________________________

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