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Technology Stocks : INTERNET ASIA + Indexes

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To: Francois Goelo who wrote (855)	5/22/1999 7:34:00 AM
From: FFNEODOC	Read Replies (2) of 1567

Francois, XNET Press Release.... Moving ahead with business plan. quicken.com This is the first time they have disclosed they are applying for more ISP licenses beyond the original 6 cities planned. Audit has been completed as judged by ... "For the year ended December 31, 1998, Xin Hai reported an audited Net Income of US$106,638 from Internet operations in China. " Turned a profit despite their aggressive expansion plans. Next thing to be completed is the SEC 10 filing (The only holdup there was completion of the audit) Would look for application to a listing change to NASDAQ from OTCBB to come shortly thereafter. Keep an eye on the IR web site at xinnet.net for further information. Would expect the updated Financials obtained from the audit to replace the dated "unaudited" Financials currently posted there. XNET just keeps quietly going about their business & I think it will pay off for us in the long run. Regards to all Long in ASIA. Frank

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