Here is an e mail from Glenn Zagoren in response to several questions I had for the company. The response is shown first and my questions to the company follow:
Dear Todd,
Thank you for taking the time to write. Let me address some points.
Our mission is to have an Internet business that deals specifically with
global trade. Our site is designed as a portal that displays contacts,
trade leads, financing, shipping, insurance, conferences, trade forms,
on-line catalogs, e-stores and trade shows. This information is not limited
to one market but covers the entire world. What makes ProNetLink unique is
the fact that the site is interactive and self populating rather than just
links to other sites. It also offers immediate on line trading and
communications with businesses around the world. These are just some of the
items included in ProNetLink however, one of the most interesting aspects of
ProNetLink is the online Netcasting of shows and seminars that are targeted
to the Trade industry. No one else is doing this.
ProNetLink has established working relationships with trade critical
businesses that include UPS, AT&T, Dun & Bradstreet, Dow Jones, Reuters,
Journal of Commerce, World Trade Magazine, Aon Insurance, Unz & Co., NCBFAA,
PIERS and many more.
The company has also been expanding around the world and now has sales and
development offices in Asia, the Middle East and North America. A marketing
mission to open offices throughout Europe will take place at the end of May
and June.
In the last 6 days the site has generated over 10,000 users with over 1000
companies joining and taking advantage of the 60 free trial period.
In Jakarta, we produced an event with our Indonesian office that targeted
the business community and invited them to see ProNetLink and the IBE. It
was very successful and was covered by Indonesian National TV and business
press. Representatives of the Indonesian government also participated. To
demonstrate that ProNetLink is a global product we tied into our
representative from the Thailand Chamber of Commerce who spoke to the
audience in Indonesia about working together through ProNetLink.
Back in New York we participated in the IBE. As trade events go, this is a
large event. In fact it is the largest event of its type on the East Coast
of the USA. The companies that had booths there included: Chase Bank, Dun &
Bradstreet, Hong Kong Bank, FedEx, UPS, The US Department of Commerce,
Citibank, Government Embassies and many other trade related companies. One
key thing about the IBE... Regardless of the size of the IBE, the goal of
our participation in the event was to show to the world that we can
broadcast live, connect businesses around the world and make any event a
global event.
The editorial press about ProNetLink will follow. This does not happen
overnight. Most magazines, do to the time it takes to print, need months
before a story will show up. On the near side we have been told that we are
going to be featured as the site of the week on The MiningCo.
miningco.com
As for our stock, we do not control the price or movement. If you have
followed our growth and are aware of the alliances that we have generated
you would realize that these companies, most recently UPS, would not be
working with us if they didn't believe in our business plan. I can not give
you a good answer as to the movement of the stock. There has been no bad
news published about us.
Since management's stock is locked up, there is no way we could possibly
benefit personally from any movement in the stock at this time. We are here
for the long run and will stay focused on the plan.
We will be a fully reporting company within the next month or so and this
will be the next step in moving the company off the OTC.
We are building a global network and it is being positively received around
the world. If we stick to our plan and continue to build the company....the
stock will follow.
Finally, a note about Internet Chat rooms. I don't believe any investor that
posts on the Internet using an alias. You can never be sure who they are or
what their motives really are. We have a number of investigations going on
right now into posters that have made false comments about this company.
Please do your own due diligence as to our company and use caution when
reading posts from unknown individuals.
The bottom line is that I know we are moving in the right direction and I
will continue to build this company according to our business plan.
Thank you for your support,
Glenn Zagoren
Chairman
ProNetLink.com
The Global Trade Internetwork
pronetlink.com
645 Fifth Avenue
Suite 303
New York, NY 10022
212-688-8838
Fax 212-319-4598
ProNetLink.com is The Global Trade Internetwork. As an import-export
webtool, it offers member defined features that provide companies with
critical information and tools necessary for the continued growth of their
businesses. These include trade leads, business news, online products
trading, trade forms, On-line live Netcasting, Shipping and customs support
as well as many other resources. ProNetLink currently has over 2.75 million
companies from 122 countries in its directory. ProNetLink's stock symbol is
PNLK on the NASDAQ OTC:BB
-----Original Message-----
From: Jensen, Todd [mailto:TJensen@VascularSolutions.com]
Sent: Friday, April 23, 1999 9:00 AM
To: Taylor Smith
Subject: current status
Hi Taylor, I saw the IBE presentation and thought it was done very nicely.
The new website looks impressive as well. I don't know if you are aware of
it but the stock went as high as 8 and now has dropped to less than 3. The
daily trading patterns are very suspicious looking in that they are
suggestive there may be some manipulation of the price, possibly by market
makers. This comment has been made by a number of very experienced traders.
Is Glenn or Dave or the legal team for Pronetlink aware of this situation?
This is having a major depressing effect on getting the price to 4 and
holding it there for a month to qualify for the nasdaq. The price pattern
looks very much what was seen last year when v1 came out. The company got a
bad reputation as a "pump and dump" for the rapid rise and fall. I know we
now have a much more advanced company but the pattern looks the same hence
the possibility of price manipulation which is a major SEC violation.
I have several specific questions:
1. Has Pronetlink met all the requirements for a nasdaq listing except
for the share price? If you do not know please ask someone who does as
this clearly can be answered immediately by the right person.
2. What happened to the press review of the site last week? We did not
get any information on the feedback. We would like to hear what the
comments were and if anyone will be publishing a review.
3. When will you inform the shareholders of the number of signups for
the new site, or are you going to wait till the 60 day free trials are
starting to end?
Thanks for your informative answers in advance. Keep up the great work.
Todd
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