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Microcap & Penny Stocks : BANY: Core business growth, exciting affiliations! -- Ignore unavailable to you. Want to Upgrade?

To: brad greene who wrote (5048)	6/9/1999 10:10:00 PM
From: kemosabe	Respond to of 5847

I work for a government agency, but not the SEC. For some time now the buzzword for government was “downsize”. My office went from over a 1000 less than 5-10 years ago to under 400 today and its getting smaller. In the meantime our “mission” has grown several times over. The public clamored for a smaller bureaucracy but wanted more services and they wanted them faster. Frankly, I'm swamped right now. I can't remember what the top of my desk looks like anymore. Now with the new listing requirements the SEC is no doubt overloaded, too. Governmental processes, reviews, approvals, etc done to protect the public take time. Government agencies are not necessarily proactive but rather are reactive: they rely on inputs - correct inputs. I agree with the poster on Yahoo. Things are being done as expeditiously as possible. Those seeking instant gratification should go elsewhere. I'm in this thing too and it has been a long wait.

To: brad greene who wrote (5048)	6/9/1999 10:18:00 PM
From: Sly_	Read Replies (1) \| Respond to of 5847

To All: I was frustrated today and fired off an email to Scott Sitra. He answered me in 24(TWENTY FOUR!)minutes. I since emailed him back with my apologies and continued confidence in BANY. With his permission, here is the email(s) passed between us this evening: From: "Dave" <XXXXXXXXXXXXXXXXXXXXXX> To: <bany@sitra.com> Subject: Anything Internet IPO Date sent: Wed, 9 Jun 1999 18:04:04 -0400 > Mr. Sitra, why has it taken 7+ months for the Anything Internet IPO to come to fruitition. Please don't give me that Silent period jargon. This IPO has had ample time to begin trading. I am beginning to beleive that there is a sham brewing here. > Prove me Wrong! > > Dave > > ********************************************************************* Dave, Thank you for your e-mail and your concern is very understanding. We are, however, in a quiet period. It's not jargon, it's the law. If we violate the quiet period our filing will be rejected and we will have to start over with a brand new filing in addition to numerous potential fines and sanctions. The SEC is very serious about these matters. Nevertheless, we filed an application to commence trading on the OTC BB the last week of December. At that time it was anticipated it would take three weeks to get listed as a non-reporting company. Reporting could come later, everyone knows to become a reporting company is a major undertaking. On January 1, 1999, the SEC changed all the rules regading going public. New companies could not go public as non-reporting companies. They had to be reporting, plus file new forms that were in the process of being created. We complied in a very short amount of time (3 weeks) to these new requirements and have been working with the SEC ever since to get through their review process. The reason this process has taken six months is because after every filing the SEC sits on the filing for several weeks before even looking at it. They do not respond like we do and focus their attentions on it immediately. It took them over four weeks to even review the initial filing. Since then it has taken them 2 - 3 weeks to look at our answers to their questions and subsequent filings. This is where all the time is. This situation is no different for us than any other company. New companies going public that are non-reporting are doing so through the use of shells. The use of shells is very dangerous and creates unforeseen problems for shareholders. Additionally, these shells must go through the same process we are going through. If they don't, they will get delisted soon. The SEC predicts it will delist over 4,000 companies over the next 10-12 months for non-compliance. Additionally, the time frame to comply is only getting worse. The SEC has a limited staff and the regulations continue to get more complex. Regulation D was recently gutted which will result in even more filings being made in the months to come. Many people have predicted that this time next year it will take a minimum of 12 months to complete the process we are going through, and that's just at the very minimum. I hope this helps answer your questions, but there is nothing of a shame here. Our filings may be found on the Edgar database. In the past six months we have filed over 400 pages worth of documenatation with the SEC. We realize the investment community thinks these things happen overnight, but they simply do not. As more companies start complying with the new laws everyone will come to understand the effort and time required to get through this process. Right now, as far as we know, we are one of the first, if not the first, new company to comply and get this far with the new regulations. However, we cannot tell you how far we are in the process without violating the law, and believe me, I wish we could openly discuss it. If you have any additional questions, please feel free to contact me. Sincerely, J. Scott Sitra Banyan Corporation Investor Relations sitra.com jscott@sitra.com (512) 453-3817 (512) 453-7553 fax P. O. Box 50404 Austin, Texas 78763 ###

To: brad greene who wrote (5048)	6/9/1999 11:35:00 PM
From: dealmakr	Read Replies (1) \| Respond to of 5847

Brad, I guess some people are never happy enough, but so goes it. This has certainly been a trying experience for a lot of folks with BANY and Anything Internet in terms of time and patience, but thats part of life. You can't always get what you want, When You Want It. The SEC filing for Anything and the new regulations enacted have sure made it a very time consuming process, longer than most have thought that it would take and I do believe that has brought pressure on the stock of BANY in the meantime. What goes up sometimes comes back down depending on how the storyline has changed in that timeframe IMHO. I don't want to rag on what C McD has said about his order problems, but when he stated that the website won't accept credit cards or used the inuendo of the company being a bad credit risk thats a bunch of crap, I lose any respect for him on that. If someone wants to sell or buy a stock, they should do their own research and definetly not look into something stated on a chat board pro or con as gospel. Also the print today of 200 shares @ .625 is just a way of playing the game to mess with the numbers, show me a print of 20k @ .625 and you have a seller, they didn't show any of my orders to buy over .625 though. Enough said about it for me, time will prove if my position is correct. Dave