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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN)
THNS 0.00Jun 7 5:00 PM EST
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To: Ernest K Brandt who wrote (14100)8/30/1999 8:47:00 AM
From: Keith Sherwood  Read Replies (1) of 15313
 
Concerning the price of the shares to be offered, the previous prospectus said, "The public offering price of the common stock is anticipated to be between $0.70 and $1.30 per share AND WILL BE EQUAL TO THE AVERAGE OF THE CLOSING BID AND ASKED PRICES PER SHARE OF COMMON STOCK AS QUOTED ON THE OTC BULLETIN BOARD ON THE DAY PRECEDING THE DATE OF THIS PROSPECTUS."

The latest filing gives a range of $0.65 and $1.35, with no mention of the average bid/ask on the day preceding the date of the prospectus.

Could the deletion of the wording regarding the pricing be an indicator that FNTN may have more time to get the price up into the noted price range? My understanding from the previous filing was that the day the SEC approved the filing, the price would be determined by the next day's average of the bid/ask. Is there now some flexibility for the pricing- in other words, once the SEC has stamped "APPROVED" on the filing, perhaps there would be some time for FNTN to announce contracts, etc. and move the price up into the $0.65 and $1.35 range (assuming there IS anything positive to announce)?

As the shares can be offered for six months, it seems that once the price is set, there will not be much price movement during this period. Does FNTN have the ability to raise the price during the stated six month period, or once the price is set, does this remain fixed for the entire period?

Any thoughts or insight into the pricing of the offered shares, or is this not significant?

Cheers,
Keith
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