XSNI - X-Stream Network Message Board

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Microcap & Penny Stocks : XSNI - X-Stream Network

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To: donkeyman who wrote (2661)	8/20/1999 2:17:00 PM
From: Jon C	Read Replies (2) of 3519

Dman and Early, I have now had some contact with the company although Mr Rasmussen was too busy to talk to me. I will not reveal the name of my contact to be fair to the person I spoke to. Suffice to say that he does hold a high position within the company. The answer to my first question was the most dissappointing in my view. The following is not word for word but my best recollection. JC-Can you confirm that X-Stream Technology has been allocated the symbol of XSTR and why? XS-Yes it has but it is not being used. JC-Yes but why? XS-It is not being used. JC-My concern is that there could be some scheme being formulated to float XSTR but not for the benefit of current shareholders. XS-No there is no plan to do that and I reiterate that it is not being used. JC-Can you confirm that Nethead has been disposed of and why? Did the disposal require shareholder approval? Is there any reason why shareholders have not been informed? XS-No it has become dormant. JC-Well was the business sold? XS-No the business has been transferred to the parent co. JC-Why? XS-We are tidying up the structure. We want it to be right. JC-Can you say when the Financial Statements of the parent (X-Stream Network) will be released? Is there not a requirement under the SEC rules that this should be within three months of the year end. XS-The accounts are waiting to be signed off by the Auditors and they will then be sent to all shareholders with a letter. JC-So you are saying that the Audit has already been carried out? XS-Yes JC-Well why not release them to shareholders? XS-They will be but we want everything to be right. JC-Is there any timescale that you can give me. Days,weeks or months. XS-I cannot say, the signing of the Auditors Report has been delayed by holidays. JC-In the February circular we were informed that Lehmans had been appointed to investigate an IPO. Is that still ongoing? XS-Yes that is what we want. JC-So Lehmans are still working on it? XS-Yes but we want everything to be right, we do not want another Firecrest. JC-Quite. But why the delay? XS-We want everything in the company to be right before any announcement is made. JC-That implies that there is something wrong with the co at the moment. XS-No no. We just do not want another Firecrest. We want all the infrastructure to be in place before an IPO takes place. JC-You had some equipment from Lucent is that in place and working. XS-Yes that is what is being used at the moment. JC-How is the South African side coming along? XS-That is on hold for the present moment. JC-On hold? But you were Beta testing until very recently.What about the entry into Europe? XS-That is what we are concentrating on at the moment in preference to SA. JC-The shares are currently dealt on the OTC BB and when I spoke to Mr Manning a few months ago he said that the co was going to apply for that market to be suspended. XS-Yes I suppose that is Firecrest people getting their money back. As for suspending the dealings we cannot. It is not possible. That is the gist of what was said. Regards Jon C

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