USRF - Wireless Internet Access Message Board

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Microcap & Penny Stocks : USRF - Wireless Internet Access

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To: Gary Lutz who wrote (727)	2/19/1999 12:22:00 PM
From: Mark B. Martell, CCM	Read Replies (1) of 956

Gary.... Did they release news today? The only news I see was released by another company and referenced work with USRF... You know as well as I do that as the stock has been tanking, he is having to respond to requests like yours and mine as to why. Of course he cares about the share price, only in that he must deal with us more one way or the other.... He's not sure who is selling. He believes we could be experiencing a naked short position building, selling shares they don't own. I asked him about NASDAQ listing with share price constraints being a hindrance. He related that this wasn't an issue here as they intended to get NASDAQ listing sometime soon. They are probably looking for investment capital and might be lining up to issue a private placement of shares. Often times when that occurs, a naked short position could form to undermine the share price, get more shares cheaply, then sell into a rise. If I was in Jim's shoes...I'd make sure the investment bankers understood that the company would also be willing to consider a straight debt situation, with no equity attachment. Try to keep those investment bankers honest.... I know, I know, with little assets for collateral, a straight debt deal will be harder to come by. Yet it can be done in trenches, if you can find a willing group of lenders/venture capitalists. A revolving facility could work. Jim Kaufman is smart enough to know how these death spirals form. We'll see what happens regarding their financing activities over the next month or two. Should be interesting. Mark

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