Good morning PNLKers,
Some of you have been asking about the 15c that has been sent out to those who have requested it.
It is fairly lengthy with lots of numbers ( Accounting was my least favorite subject in College..) so I won't bore you unnecessarily...
I will highlight a few items, however..
It gives a brief description of the nature of the business including this statement:
"Currently, there are over 40 million Internet users daily. By the year 2000, it is projected that 200 million users will have the potential to access Pro Net Link's on-line database of information...."
Their address is 645 Fifth Ave, Suite 303. NY NY 10022 and is approx 3,650 square feet.
JPC is listed as the President and Treasurer/Director.
In Sep and Oct of 98 was when the PP was consummated. 4,210.000 shares of Common stock to certain subscribers for the purchase price of 842,000.00..the funds were raised to allow PNL to continue with its website and development programs.
Feldman Sherb Ehrlich & Co located on 805 5th Ave conducted the audit of the balance sheet as of June 30,98 and statements of operations, asset and cash flows from Jul 25,1997 thru Jun 30,1998.
As of Jun 30,1998 listed on Balance Sheet there were 150,000,000 shares authorized,37,849,500 shares issued and outstanding.
Pro Net Link Corp. was incorporated on July 25, 1997 in the state of Delaware.
The line of credit of 500,000 expires Apr 30, 1999 but is subject for renewal at 1% over the bank base rate secured by a standby letter of credit.
As of Oct 31,1998 they show a subscriptions receivable of 440,000 (So as you can see, even with the disappointment of V2, there were still subscribers through the summer...)
Total Liabilities and Equity as of Oct 31, 1998 were 756,216.74.
There are more details and breakdowns with specific figures and for what, but too much to list on the thread. For those of you bean counters out there, giveTaylor a call and she will be happy to mail you a 15c2-11 and if you want specifics, you may give me a PM and I will be happy to oblige.
Please remember, this is only a snapshot through June and Oct of last year, so as of now Jan 99, these figures have changed.
Regards and good morning,
Terri |
