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Microcap & Penny Stocks : FNet=Internatl Voice/Fax/Data&Video Services ViaInternet
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To: Bruce Hoyt who wrote (334)11/11/1998 3:36:00 PM
From: george willse   of 609
 
Bruce -

I think we are just now bearing the fruit of Frank's decision to put qualified individuals at the helm. The thing that makes or breaks these types of companies are:

1. Leaders with vision
2. Leaders that can execute nimbly
3. Leaders that can competently delegate authority
4. Leaders that can handle constructive criticism
5. Leaders that can give constructive criticism
6. Workers that embrace management's vision
7. Last, but not least, people who are hungry

I think both FTEL and FNET have #1 & #2 now. This is NO criticism of Frank Peters; I believe he was too close to the nuts and bolts of the design, manufacturing and running the business, as well as trying to do things like obtain financing, all at the same time. His delegation of authority is starting to pay off as certain aspects of the q-report demonstrates. No doubt about it, this new gentlemen are producing positive results.

As an aside, I think everyone in FNET is breathlessly waiting to see if we IPO in Q1/99. The good news is that the IPO market has been very weak the last couple of quarters except for a couple issues like EBAY and Inktomi. IMHO, Q1/99 may be a time when the market is real hungry for high quality new issues, which we all hope FNET will be by then. If they can:

1. Get total financing for the plan
2. Limit dilution
3. Execute

we will be there. Otherwise, the kids are going to junior college instead of Duke and MIT...

and Dad doesn't get to buy that '63 hard top vette he's always wanted!!

Cheers,

George
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