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Gold/Mining/Energy : BCE Emergis - global e-commerce

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To: rocki who wrote (768)	5/20/1999 9:09:00 AM
From: salva	Read Replies (3) of 1341

Also attented ASM meeting yesterday--full room. Rocki covered most important issues discussed but wish to add a few comments. Spoke directly to 2 from senior managment and 3 staff workers (one I know personally) and wish to add... * e route will be signed in few weeks, but pilot project will only begin in Sept with an official maket launch in spring 2000. This was surprise to me cause when e-route was announced I thought & remembrer reading it would take 6-8 weeks (Feb), guess that was only to negociate an agreement. The agreement with the banks will be for 10 yrs. * raised the Transpoint issue with Sr management- cause it concerns me that Transpoint had been without a president until a month ago and Transpoint had many delays in launching thier program (now have 9 billers signed). The Sr 'gentleman' stressed that they were "very confortable with Transpoint for now". * On "portal" issue- its a 'top priority' for IFM. Sympatico, Canoe, AOL Canada may be possibilites-but there were others also. Acquisitions- Mr Edwards stated that they would be in Canada or USA. Stressed the USA-want "to increase visibility in the US by garnering mindspace with e-commerce analysts and listing shares on a US exchange"!! Grow marketshare and footprint in the US" Direction- IFM wants to become a "network centric e-commerce services company" with the 175 million in revenues and 'breakeven' EBITDA in 99 and 20% in 2000 and a 1 Billion$ company in 2002-3 and being viewed by customers and alliance partners as one of the top players in e-commerce. So yes more oriented to a bus-bus than consumers. * have $80 million in cash Agree IFM are driving for rapid growth in several areas. Was (others too) very impressed with the direction,and speed they want to do things--but--we may stall a little here . The Ameritech $$$ are not in the back pocket of BCE-that has to close first (end may) then IFM could announce thier US acquisition etc... After the US acquisition Wall Street will better recieve IFM listing on the US exchange. Rgds salva

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