SLNN had a great IPO day today. Opened at $13.00 and closed at $24.50 on heavy volume.
SolutionNet (SLNN) focuses on two important IT Solutions...(1) E-Net Banking with Global Clients which include: Citibank, Compaq, ABN AMRO Bank, Siemens, Deutche Bank, Credit Suisse to name a few....(2)EMI (electronic Medical Information).
Unlike other internet plays, SLNN had $6,000,000 in 1998 revenues and is projected to have $20,000,000 1999 revenues...increasing to $120,000,000 by year 2002. (Only has 1,600,000 share float with 12,000,000 outstanding)
SLNN came public today through SHAL (Sara Hallitex) and their unique dividend spin-out program to shareholders. (Similar to CMGI and SFE)Although, I believe better for the shareholder (If you owned shares in SHAL and qualified for the dividend you would receive shares in SolutionNet).
Look to Sara's webb page for more detail about SHAL and SLNN at www.sarahallitex.com)
I am long both stocks SLNN & SHAL and very excited about SLNN's IPO day.
Mark F.
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