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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: findstock who wrote (87028)	7/29/1999 1:08:00 PM
From: BarbaraT	Read Replies (1) of 119973

Dan Dorfman just came out with this on SOFN: SoftNet Systems in Buyout Talks? A money manager with top connections in the Internet community tells me he hears solid reports that San Francisco-based SoftNet Systems (SOFN), 23 1/8, is in exploratory talks to be acquired. The manager says he has no idea which company SoftNet might be talking to, whether a deal will ever materialize, or what a potential buyout price might be. Separately, another West Coast manager says he has also heard rumblings of a possible SoftNet takeover. SoftNet provides high-speed Internet access through existing cable infrastructure. It also offers Internet access to remote areas through telephone lines, and is integrating two-way satellite Internet access technology to reach small, more remote cable systems. The company, which has more than 2000 residential and business subscribers, posted sales of $12.2 million over the last 12 months. According to analysts' consensus earnings estimates, SoftNet is pegged to lose $2.98 a share this year and show another loss of $3.01 in 2000. SoftNet shares have had quite a ride this year, sprouting from a 52-week low of 5 5/8 to a 52-week high of 69 1/2. SoftNet CEO Lawrence Brilliant is on vacation and was not available for comment. Other officials could not be reached. Dan Dorfman does not trade the market. His stock market investments are limited to broad-based mutual funds. © 1999 JagNotes.com, Inc. All rights reserved. 000. SoftNet shares have had quite a ride this year, sprouting from a 52-week low of 5 5/8 to a 52-week high of 69 1/2. SoftNet CEO Lawrence Brilliant is on vacation and was not available for comment. Other officials could not be reached.

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