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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: jjs64 who wrote (3640)	7/23/1999 8:29:00 PM
From: Francois Goelo	Respond to of 10354

jjs64, I see your twisted mind cannot rest without putting out its Daily Dose of misleading statements and innuendoes. I didn't have to be close to XNET to find out about the Private Placement: they published it in a Press Release of which I quote an excerpt: Apr. 6, 1999 - Xin Net announces major planned expansion (Formerly Placer Technologies, Inc.) NASD Bulletin Board Symbol: "XNET" Further to the announcement of December 29, 1998 Xin Net Corp. wishes to announce that three months after the successful launch of its initial E-Commerce services to its subscribers; its subsidiary Xin Hai is poised to expand its E-Commerce services by introducing an expanded online E-Commerce service to the Chinese market. Xin Hai is already offering a "flea market" to its subscribers currently with over 10,000 items offered for sale. The expanded services will be made available during the second quarter of 1999, which will coincide with the start of the new operations in Shanghai and Taiyuan (populations 14 million and 8 million). Licenses have already been granted for these cities. For the above expansion program, the company has arranged a $5.5 million private placement of restricted shares. All I had to do is grab the phone, like anybody else reading the PR could have done and find out that the Subscription was not yet closed. I had done well with my original purchase of 40,000 shares in the open Market at about 42 cents a piece, so it was a natural follow through for an investor who feels comfortable with a Company. In fact, I wouldn't be surprised to see the XNET shares at around $10.00 within one year... As for your so-called "70% discount to the Market", I was told when I enquired, that the PP price had been calculated in mid March, by discounting the current market price which happened to be $1.50 at the time, by 33%. And of course, your unfair mind carefully steered away from posts containing a Disclaimer, like this one, for example: "XNET is moving rapidly and will undoubtedly become one of the majors in China over the next couple years. That's why I am biased and long on the stock." Message 10058565 F. Goelo + + +