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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: DesertRat1 who wrote (13427)	7/28/1999 7:32:00 PM
From: De Peepster	Read Replies (1) \| Respond to of 15313

Dear Drat, So far have seen they got a new convertible bond at 8% last week, they really paid a huge fee to J.G. Capital for it as well: From SB-2 Convertible Promissory Note On July 20, 1999, the Company issued an 8% convertible promissory note in the principal amount of $500,000 with a maturity date of October 20, 1999, and warrants, exercisable under certain conditions, to purchase up to 200,000 shares of common stock at an exercise price of $.50 per share through October 20, 2004. & The agent for this transaction, as part of its fee, received 20,000 shares of common stock and warrants to purchase 100,000 shares of common stock at an exercise price of $0.50 per share of common stock. The shares of common stock issuable upon conversion of the promissory note and warrants issued in conjunction with the note are being registered in the alternate prospectus.