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Microcap & Penny Stocks : MXNT >> MaxNet Inc. >> Undiscovered Web Portal >> MXNT

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To: Michael Graham who wrote (1118)	11/1/1999 12:39:00 PM
From: WallStreetTips	Read Replies (3) of 1125

MXNT >>> SELLING all MXNT I own This is just to let all of you guys know that I have decided to sell all MXNT shares that I own. I have been selling thousands of shares today and will sell the rest too. It is very unfortunate to sell with a loss but I am sick and tired of listening soon the financials will be out. This company has absolutely no direction. Since last year MXNT just made false promises to its investors. They kept saying us that Financials are ready and will report shortly. Its almost 6 months that they have been saying that and nothing reported. All the recent deals signed are worthless in my opinion. Also look at portal for Canada? Never got updated with new stuff. They finally removed that from site. Also the press release to launch Japanese portal never got launched. Investor area on their site has Coming Soon since last 6 months. Auctions site got relaunched but nothing there. Looks like MXNT is just shooting without an aim. Its just making circles and going nowhere. MXNT management puts out press releases that are worthless. Last pr about E-Commerce offering with iCat (Intel's division) is like a joke. Any person with a website can become their partner. MXNT site traffic has dropped to pretty much nothing ( As evident from that site statistics link posted by someone on RagingBull) as their sites have nothing to offer. Initially they started off very well but in last many months with disappearance of many key web designers, the site work has been very dismal. In my opinion MXNT will never be successful as their management lack professionalism. I should have sold all the stocks longtime ago but got trapped. Everytime I call MXNT and talk they would say things that were so rosy and exciting. About financials I was always told papers are filed and will be out soon. MXNT never discloses who is on their board of directors, what's their capital structure or anything about financials. Oh well, lesson learnt. Never invest in any MXNT kind of company ever again. I am happy to be getting out now because to me now this stock is not even worth 10 cents. I am glad to be getting out before it could get delisted if they do not become reporting by year end per new SEC rule. Even if they become reporting what do they have to report? No traffic to sites means no revenues, right? People like Mike Graham made wise decision to get out, whereas unfortunately I thought lets give some time to these guys to grow the company but all in vain. Now I feel enough time given and no results seen, so time to get out. This is my last trip to this board. I do not intend to even look at what price MXNT will be in future. I do not care if it trades higher or gets delisted. Well I had mentioned many times that being OTC BB stock this is very risky investment, In fact it turned out to be that way. Goodluck to all. Just my views.

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