McD,
Did you get any new E-Mails from Scott? Didn't he say he would send out another update if it didn't trade on Monday?
"From a conversation with one of our market makers this afternoon, we are told that they will now try to open our stock up for trading sometime Monday afternoon. If we learn anything different prior to the first trade we will share that information with you through a similar communication."
July 9, 1999
MESSAGE FROM PRESIDENT
Dear Shareholder:
The past week has proven to be exceptionally
exciting for everyone here at Anything
Internet. Not only is our company
continuing to grow and mature at an rapid
rate, we find ourselves caught in the midst
of a history making development: going
public.
Originally scheduled to debut on Wednesday,
July 7th our two market makers - Capital Bay
Securities and Herzog, Heine and Geduld -
found themselves overwhelmed with interest
in Anything Internet's stock. Market
makers, the National Association of
Securities Dealers (NASD) and ourselves were
inundated with thousands of telephone calls
and e-mails this week. Plus, we are aware
of pre-market orders ranging across a
tremendously wide price spectrum.
All of this has resulted in a large order
imbalance and more interest in the opening
of an OTC company than usual... if not ever.
While all of this is extremely exciting and
bodes well for our future, it caused a delay
in our market makers getting their necessary
final "green light" Wednesday to commence
trading.
Additionally, because it appears there are
far more pre-market buy orders than sell
orders, the market makers have had a
difficult time determining the opening
price. This order imbalance is a complex
situation to sort out, and Anything Internet
is not a part of this process. Hence, we
will not comment on share price or potential
share price.
Further complicating matters this week, the
NASD, the parent of Nasdaq, experienced a
serious computer breakdown Thursday, July
8th. The Nasdaq computer system, which
tracks volume and trading prices of all OTC
companies, failed. The NASD was able to fix
these problems late Thursday and the systems
now appear to be working properly.
With the computer problems hopefully now
behind us the NASD and our market makers can
now get back to the business of getting our
stock up and trading. From a conversation
with one of our market makers this
afternoon, we are told that they will now
try to open our stock up for trading
sometime Monday afternoon. If we learn
anything different prior to the first trade
we will share that information with you
through a similar communication.
It is important to note that we are not at
all a part of this process. We have
complied with all applicable securities
rules and regulations and, because we are
not selling any securities to the public at
this time, cannot not get involved with
market maker pricing and trading policies.
The market makers and NASD are entirely
responsible for when the first trade occurs
and at what price that trade occurs.
Everyone here at Anything Internet is elated
with the amount of interest Wall Street has
shown in our rapidly growing company. We
thank our current and future shareholders
for their support and patience in getting
through this complex process, and look
forward to everyone's participation in
developing an orderly and liquid market for
our common stock and sharing in our
continued success.
Very truly yours,
J. Scott Sitra
President and Chief Executive Officer |
