KZAP,
Hey all, just got off the phone with Tom Burgess-VP, Netmaster.
Here's the lowdown:
Total: 30 million shares
18 million restricted
12 million tradeable
4.5-5 million FLOAT
echoMedia is a subsidiary of NETMASTER (NETZ)
NETZ plans on becoming a reporting company.
Looking and working on being listed.
Tom, his wife, Monique, and Charles Rose run echoMedia.
VP status for Tom at NETZ is just that, a status position.
He's just trying to build echoMedia.
His expertise is building startup companies.
Prior experience include Network Plus ($125 million private co. in RI) and TimeCorps System in Atlanta which was bought by VodaPhone.
Primary reason for IPO of NETZ is to add value and do acquisition for the company to grow.
Relationship with Alexander Troy---
Liked them when they signed on, still like them, they've done a good job for echoMedia.
Understand the bad impression associated with Alexander Troy, have talked about changing representation, but have decided to stick with Alex Troy so far.
Company has no real debt except to private investors.
$500,000 in sales this month.
expect to be profitable within months.
'96 was profitable.
'97 notes a loss-change and cost of new technology
Burn rate is minimal
'98 expect profitability, but refused to give number due to SEC regulations.
My impression---he is a good guy who believes in his company and the technology. Has many contracts and expect many more.
I'm in and will stay in. Will buy more.
The recent drop? My speculations:
1. With the float of only 4.5-5 million, shortsters?
2. Investor concerns about penny stocks.
3. Selling for tax reasons.
I don't believe this is a scam. My opinion only. I really enjoyed my conversation with Tom.
A plea to all here---he's gotten a lot of email and phone calls. Many are not so nice and unreasonable. He's trying to answer a few people. I just happen to be one of the lucky ones. I will be happy to ask him questions on a routine basis if you guys have anymore.
I'm new at this, so pardon me if I've overlooked anything and appear naive.
Oh, one other thing--the new guy from BMW is the new Chairman of NETZ. There are apparently many deals in the works with auto dealerships and this guy has the insights.
MChen |
