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Microcap & Penny Stocks : FNet=Internatl Voice/Fax/Data&Video Services ViaInternet

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To: Stephen B. Temple who wrote (380)	1/18/1999 3:34:00 AM
From: george willse	Read Replies (1) of 609

FNET IPO News The following contains key points concerning the latest details on taking FNET public: New PP Offering A new 2 million share Private Placement offering of $2.50/share with registration rights (registered in the IPO) has begun. Call 1-800-372-6556 to obtain information on how to get in on the pre-IPO. The company can send you the paper work explaining the offering. Note that the plan is to allow purchasers the right to exercise these PP shares on the day (or any time after) the date of the IPO. Proceeds will go to: (1) Continue deployment of International IP Network (2) Hire critical staff (3) General working capital (4) Partially repay the $2.7M owed to FTEL IPO The IPO date is is currently targeted for the June/July time frame. The actual date is not fixed yet. At this time the company is negotiating with several firms to underwrite the IPO. 4 million shares at $5.00/share will be offered for sale on the date of the IPO. Select market makers and investment banks will sell the shares for a fixed commission. Application will be made with the S-1 to be included on the NASDAQ Small Caps market. Proceeds will go to: (1) Continue to deploy the FNET network (2) Working capital (3) Partially repay the $2.7M owed to FTEL Net proceeds from the IPO and the PP are $22.5M.

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