USRF - Wireless Internet Access Message Board

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Microcap & Penny Stocks : USRF - Wireless Internet Access

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To: BONZ who wrote (786)	3/17/1999 7:52:00 PM
From: Mark B. Martell, CCM	of 956

BONZ, The problem with the company right now is exactly as identified on the Raging Bull board...they need NASDAQ listing. The bulletin board allows for naked shorting. Speculation, according to Jim Kaufman, was that someone was spreading false rumors of a convertible death spiral deal. Jim knows the problems here with this type of financing activity because of his dealings with TPII, where Kerneghan & Co. provided so much convertible financing that they now own the company outright. Jim realizes that to grow this company they need some venture capital. However, being a bulletin board company, many of these venture capitalists want the convertible deals to make money on the way down and up through naked shorting. I had thought the run back down was essentially from overheating and profit taking, but, it seems like they are trying to keep this stock from over $4 per share, as USRF already meets the requirements for NASDAQ listing otherwise. The key now is for earnings and other deals to be announced while Jim hunts down and finds a venture capital deal with terms favorable to the company. I wonder what our friend Phatt Jake thinks of all this right now....his end of month prediction date is coming quickly.... Mark

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