Jacalyn, you must be one of the most misinformed investors I have ever seen. You cannot even read a statement and understand what it says.
First of all, please answer the Nethead question I posed. I am aware of the response from X-Stream management to Suntrader's inquiry, that Nethead is no longer an X-Stream company. But where is it that you have learned that this happened in the last three months, the time period I have held XSNI?
From the TOS Agreement:(read the bold areas slowly so you may understand what they say)
By using The X-Stream Network Internet service (the "Service") and the
client software (the "Software") provided by X-Stream Technologies, Inc.,
a Delaware corporation ("X-Stream"), you ("User") agree to the following
terms and conditions, any amendments thereto and any operating
rules or policies that may be published from time to time by X-Stream,
over The X-Stream Network (the "Terms of Service"). Please read them
carefully.
USER'S ATTENTION IS SPECIFICALLY DRAWN TO SECTIONS 3
("REGISTRATION AND USER INFORMATION OBLIGATIONS"), 4 ("USE AND DISCLOSURE
OF USER INFORMATION") 6 ("LIMITED LICENSE TO USER") 12 ("INDEMNITY"), 16
("DEALINGS WITH ADVERTISERS"), 17 ("LINKS"), 19 ("DISCLAIMER OF
WARRANTIES") AND 20 ("LIMITATION OF LIABILITY").
1. ACKNOWLEDGMENT AND ACCEPTANCE OF TERMS OF SERVICE
The Service and the Software are owned by X-Stream. The Service
and the Software are provided to User under the Terms of Service.
The Service and the Software are both owned by X-Stream. And X-Stream as used in the TOS Agreement refers to who....X-Stream Technologies Inc., a Delaware corporation. Yes, they also provided the Software.
Now what does the MegaCom/Firecrest shareholder statement say:
In the circular sent to Mega Com shareholders in February 1999 it states that "the most significant is the acquisition by the company of X-Stream Technologies Inc.
Again, from Suntrader:
It is clear that XSNI was previously Mega Com Group Inc., therefore, XSNI is the parent company of Mega Com Group PLC ( Previously Firecrest Group Plc ).
Are you not clear on the Firecrest-->Megacom-->XSNI trail?
What is it about X-Stream management's replies to Suntrader that you don't get?
1. X-Stream Technologies Uk is a wholly owned sub of X-Stream Technologies, Inc.
X-Stream Technologies, Inc. owns X-Stream Technologies UK, wholly. Understand???
2. None of the companies in the X-Stream family are public reporting companies.
None of the companies are presently required to report. This doesn't mean that any or all of them can't be publicly traded. How many companies trade daily on the OTCBB and don't publicly report? A lot, XSNI being one of them. Are you still with me???
Also, X-Stream Tech inc is owned by X-Stream Network inc.
Remember the shareholder circular? MegaCom acquired X-Stream Technologies Inc. MegaCom became XSNI(I hope your clear on this). Wouldn't X-Stream Technologies Inc. then be owned by XSNI, X-Stream Network Inc., as stated by management above?
Nethead is no longer an X-Stream company. While GOD still is, it is not a public reporting company.
Yes, management says Nethead is no longer owned by X-Stream. As I stated at the beginning, I was aware of this statement. But where do you get that this happened in the last three months, dear lady from Texas? Please enlighten me. As for GOD, the statement by management is absolutely correct. While it is still owned by X-Stream, X-Stream is not required to report. Thus, they are not a publicly reporting company. Now do you get it???
I am aware of over the counter trading. These shares were not the result of an IPO by X-Stream and company is not considered a public reporting company.
XSNI trades OTC. X-Stream has had no IPO(s) yet. If they do, I'm betting that they will spin off the X-Stream Network Internet Service. The Service itself, not X-Stream Network Inc., which already trades OTC. IMO, this is where your misunderstanding lays. If Lehman's told you what you say they did, then they are absolutely correct. XSNI itself already trades, thus they couldn't IPO. It would have to be a secondary offering. But they can spin off the Internet Service in an IPO. That's why my money is here. That's my gamble, win or lose.
Sorry for the long post. |
