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Microcap & Penny Stocks : Financial Intranet Inc. (OTC:BB:FNTN)
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To: don roberson who wrote (2216)6/10/1998 2:28:00 AM
From: Jim Porter  Read Replies (1) of 2897
 
Don,

I'm glade you could relate to my story.

As for the future of FNTN and using a buy-back to achieve NASDAQ Smallcap status, that is not the reason I want to reduce the number of shares.

I want institutional buyers and other qualified investors to own lots of FNTN. I also want to make sure they are attracted to FNTN and have no personal criteria which will preclude any of them from buying and holding.

I also subscribe to the Eleventh Commandment: Thou Shall Not Bull Shit Thy Self.

Sorry MS, but IMHO, without a very good reason, 11 million shares of stock floating around out there is not a good form of currency management.

Like it or not, this is my view and I have no intentions of changing it.

I want to see a resolution made to the Corporate By Laws thereby reducing the float to a minimum of 5 million shares (at this stage, 5 million is still high). To achieve this, I want to see a minimum of fifty percent of Retained Earnings dedicated towards a Stock Buy-back program. (Without the Direct Costs, Indirect Expenses, or Other Expenses showing an increase by some crazy line item or see a percentage increase in the same costs and expenses when expressed as a percentage of Gross Sales.)

Jim Porter
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