Berwyn that was a great find and I forwarded the link to FoxHayes in the following email to one of the "partners" of manning in that law firm.
Dear Barrister Frazer: Please contact Robert Manning and find out when he cares to release
pertinent FACTUAL in formation regarding XSNI, that can be verified through 3rd parties; I
called Mr. Manning at the beginning of May, 1999; wherein Mr. Manning informed me of
several MISLEADING AND ERRONEOUS PIECES OF INFORMATION, for example
Mr. Manning informed me that the OTCBB listing of XSNI was a mistake, when in FACT, it
had to be listed on the OTCBB board by November 1, 1998 to realize the xstream Canada
deal. Mr. Manning INFORMED me that Lehman Brothers was working on the matter to get
XSNI listed on the correct trade board and that XSNI was going to be IPO'd around mid
summer- when IN FACT LEHMANS in UK and NY denied knowledge of XSNI being
associated with Mr. Manning or xstream UK, and Andy Laslow at Lehmans, UK told me to
PROVE XSNI was associated in any manner to xstream UK or Manning. And what would
make me think that a company listed on the OTCBB would become an IPO.
It appears that nothing Manning says can be relied upon; I don't know about the rest of your
business associations, but as far as XSNI is concerned it has been an information rumour mill
that has been wilfully and intentionally perpetuated by Mr. Manning himself. THAT is a
problem.
I take it from your profile on the foxhayes website, you are practiced and well versed in
business law, having over 30 years experience. Perhaps you can consult with your partner
Mr. Manning and inform him of the merits of handling PUBLIC company information in a
timely and efficient manner; also, you could consult the SEC guidelines now that XSNI is
traded on the US exchange, although it is now non reporting - those rules are changing and it
appears XSNI has NOT provided the SEC with any reporting preparatory paperwork to
date; XSNi HAS to be reporting by May 2000 or it goes pink.
As the association and history of past non performer companies, and as a shareholder having
PURCHASED my XSNI stocks and not receiving XSNI stock for worthless
firecrest/megacom paper, I felt it in my best interest to validate and verify anything and
everything that was "in-house" produced and released. It appears that Lehman's, the only
outside organization that would even admit to knowing Mr. Manning and xstream UK,
DENIED anything about XSNI - that right there is a PROBLEM and needed to be corrected
at the "get go". That Mr. Manning chose not to answer inquiries on the "follow up" was NOT
in the best interests of the shareholders that paid US cash for those XSNI shares. Nothing
Mr. Manning has said has been "on point" and has been misleading.
Please ask Mr. Manning to produce the documents I have sent to his office over at xstream
UK (I believe it used to be in one of the back offices at FoxHayes but have since learned the
physical location of xstream UK has changed and they now even have their own phone
number, not at Foxhayes switchboard); ask Mr. Manning for all the facts I have requested
and am entitled to as a US cash purchaser of XSNI stock that is publicly traded on the small
cap OTCBB exchange in the United States. Or if you prefer, I can forward ALL of my
requests for Mr. Manning to explain his misstatements, to correct the record and offer up
some other organization that can verify his remarks, as he hadn't provided too successful
backup in his past comments concerning XSNI.
I had no idea Mr. Manning was a partner in a law firm in the United Kingdom, and I am still
reeling wondering how in the world he expected to pass on those misleading remarks and
think US investors such as myself are fools. Who did he think he was talking with? Perhaps
you can discuss the merits of trading on the US exchange vs not trading on the UK exchange
with Mr. Manning and then get back to me.
Another investor/shareholder that purchased XSNI stock with US dollars, ie not previously
worthless firecrest/megacom paper, found a connection with Lucent and they financed by
underwriting 100% of the 28 million dollar deal. Could you get Mr. Manning to issue a press
release indicating the particulars - like of the 20 million warrants Mr. Manning told me there
were, how many did Lucent receive - or WHAT IS THE DEBT LIABILITY in terms of
future revenues and WHT PERCENTAGE OF XSNI does Lucent own.
While you are at it, ask Mr. Manning what association XSTR is going to have with XSNI?
These are important matters and they have to be addressed, Mr. Manning presented a
misleading and negligent "future forecast" of XSNI, now that I found they are wrong, Mr.
Manning has to be aware of his obligation to get the facts out in the open. That he has chosen
NOT to answer and provide the FACTS in a professional and timely manner and in the
interests of the shareholders, is a matter of concern.
If you need any information on XSNI just let me know and I can forward to you ALL the
history of prior companies with the same CEOs operating those delisted and failed companies
now in xstream UK; I can offer timelines, I can offer up information provided by Mr.
Manning that was DENIED and UNVERIFIABLE by those Lehman Brothers offices to
which Mr. Manning led me at the beginning of May and I can offer up the pleas for Mr.
Manning to get the facts listed correctly.
Please feel free to contact me, you have my email address; I believe Mr. Manning has my
phone number as well as ALL the offices at xstream UK and Lehman Brothers UK (Andy
Laslow) and in NYC. Feel free to read the Lucent agreement as they have provided at their
public website for ALL to see.
This release mentions LU providing working capital. Very interesting - why didn't XSNI
ever bring this up in their releases? How much was it? Did XSNI give LU shares or
warrants for this financing? Will LU finance the enormous worldwide rollout?
This company could be really interesting if they would get off their backsides (bums, for
the British set here) and release some information. They need to look at ELNK, whose
CEO used to post on SI and chronicled their rise from struggling ISP to major national
player.
Grumble, grumble, grumble.
Lucent xstream details from Lucent:
searchus.lucent.com
Now would xstream UK care to release a PR with some details and facts for the in vestors
and shareholders in the US? Particularly those holding XSNI shares.
Sincerely, Jacalyn M. Deaner
XSNI shareholder - 10 Shares
I had a sizable holding, but when nothing Mr. Manning said was verifiable, and credible 3rd
parties denied association (Lehmans) my only interest now is to see that Mr. Manning realizes
the importance of treating each individual investor as if they were a majority shareholder and
not to lie to them. |
