To: SSP who wrote (4626 ) 7/22/1999 12:56:00 AM From: Tim Davies Read Replies (1) | Respond to of 150070
what a coincedence on the golden thing.. this just hot off the press on gfx on alberta.. onlist Golden Fortune Investments Limited Alberta Stock Exchange: GFX 298-1199 W. Pender Street E-mail: info@gfil.com Vancouver, BC Canada Web Site: www.gfil.com V6E 2R1 Tel: 604-688-2623 Fax: 604-688-2611 (This letter may be viewed in html format at gfil.com Letter from the President July 21, 1999 Dear Investors and GFIL Information Subscribers, Over the last four months "Project Gateway" has developed rapidly. Golden Fortune has been able to announce several developments as we work hard to establish the Wireless Internet Solution for China. Our accomplishments to date can be summarized as follows: A Joint Venture with an established, highly regarded, Chinese company to provide a national wireless Internet solution for China. Established a national product standard based on technology represented by Golden Fortune and supplied by WaveRider Communications Inc. An initial contract to supply product for China's private networks, valued at over US$20 million. National approval and licensing as a wireless Internet Service Provider in China. Strategic Alliance with WaveRider Communications Inc., which provides assured access to technology, trained technical expertise and the ability to manufacture product under license. The establishment of a pilot project in conjunction with MultiCyber Internet Ltd. to provide regional wireless Internet solutions and Local Area Network services in one of the largest special economic zones in Shanghai, China. These are the visible components of the major undertaking that is "Project Gateway". Golden Fortune and its Chinese partners are working diligently to build the Wireless Internet Solution that is so important to China. There are many more exciting developments to come. I am particularly excited about starting our pilot project earlier than expected. Shanghai is to China what New York City is to America. The importance of this pilot project can be likened to the introduction of leading edge, data communication technology in any major financial center. This pilot project will highlight Project Gateway's Wireless Internet Solution and help to stimulate its use by several of China's major companies as well as multinationals operating in Shanghai's Pudong New Area. As you read this letter, one of Golden Fortune's personnel is in China ensuring our Joint Venture partner is prepared for the training sessions that WaveRider personnel will conduct in August. He is also overseeing the preliminary site analysis for the Shanghai project. At the end of July, I will be traveling to China with MultiCyber's senior management to meet the Shanghai project's senior people and visit the SIT project site in Shanghai. I also will be meeting with our Joint Venture partner, NORCEL, to update them on our activities. In mid-August, I will meet with the WaveRider team and we will hold the training sessions for NORCEL's personnel. This is a very exciting time for us as it brings Project Gateway into the start of the operational phase. One consistent question we receive about our shares is "Why are our shares not trading like other Internet stocks?". First, most of the stocks we are compare against have had much more time than four months to develop market awareness through promotional and IR efforts. Second, general media attention is only now beginning for GFIL and thus greater notice from investors is building. Third, Project Gateway is on a scale that can be challenging to understand for people not familiar with doing business in China and is clearly not for the faint of heart. Finally, the general perception that GFIL is under valued compared to many other Internet related stocks. This is now beginning to work in our favor. We are confident that shareholders will benefit as this trend continues. Below is a short list of some of the companies (we are told) that GFIL is being compared with: GOLDEN FORTUNE (Alberta:GFX.) 52-Week Trading Range CDN: Hi: $ 0.60 Low: $ 0.10 Closing Price: $ 0.34 Jul 19 WI-LAN INC (Alberta:WIN.AL) 52-Week Trading Range CDN: Hi: $11.50 Low: $ 1.18 Closing Price: $ 11.50 Jul 19 XIN NET CORP (OTC BB:XNET) 52-Week Trading Range CDN: Hi: $ 6 5/8 Low: $ 61/256 Closing Price: $ 2 1/2 Jul 19 CHINA.COM CP A (Nasdaq:CHINA) 52-Week Trading Range CDN: Hi: $ 68 Low: $ 44 3/4 Closing Price: $ 45 1/4 Jul 19 WAVERIDER COMM (OTC BB:WAVC) 52-Week Trading Range CDN: Hi: $ 3 3/88 Low: $ 1 1/8 Closing Price: $ 1 1/2 Jul 19 Direct comparisons are challenging. GFIL is a unique blend of business development components. As the provider of a Wireless Internet Solution slated to become the Internet backbone for China, we have taken great care to proceed thoughtfully and meticulously. "Build a better mousetrap, and the world will beat a path to your door". This simple phrase typifies what Golden Fortune is doing with Project Gateway. As events unfold, I will be providing more news via our web site and our newsletter. I look forward to providing you with a review of my trip to China when I return. As always, we invite each of you to contact us with your questions and comments. Sincerely yours, James Tong President Golden Fortune Investments Limited This letter contains forward-looking statements that involve risks and uncertainties including, but not limited to, quarterly fluctuations in results, management of growth, competition and other risks. Actual results may differ materially from such information set forth herein. these guys seem set to roll.. imo tim