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Microcap & Penny Stocks : Xin Net Technologies - BB: XNET - The Next Internet Stock?

XNET 7.660

0.0%

Jan 16 9:30 AM EST

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To: Dorine Essey who wrote (1093)	4/14/1999 5:50:00 PM
From: FFNEODOC	Read Replies (3) of 1593

XNET Director's Response regarding shorting 5 Million shares as claimed by Mr KASH;.... The following is Ernest Cheung's response to my email that I sent to him regarding allegations of shorting activity by the insiders at XNET, as claimed by Mr. Kash yesterday in his post Message 8869047 -----Original Message----- From: echeung <echeung@portal.ca> Date: Wednesday, April 14, 1999 12:08 PM Subject: Re: XNET & Shorting 5,000,000 shares Dear Frank: Thank you for your e-mail. The 5 million PP was placed three weeks ago now and mostly to arms length un-related parties. There is absolutely no truth that the company is shorting 5 million shares to do the PP. Besides, at today's price levels, why does anybody need to short 5 million shares? Also, do you think the market can sustain a 5 million short position? Regards. ERNEST" This information can be confirmed by contacting Mr. Cheung yourself at the email address provided above. Frank

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