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

To: C Horn who wrote (13509)	7/31/1999 3:55:00 PM
From: Tomato Man	Read Replies (9) \| Respond to of 15313

Report of Visit to FNTN Let me apologize for the lateness of posting this. My machine has been locking all day. It has been most frustrating. Now, on to my meeting at the new offices in Mt. Kisco with Michael and Maura. First of all, let me say from the beginning, I don't have much new information. I didn't really expect to have anything new as the proper way to release any major news is through PR's and not through an individual stockholder posting on the internet. What I was able to do was get a much clearer picture of where FNTN is and where they are heading. I am posting the rest of this in a conversation format because it is easier to write and more concise. Do not take any of this as direct quote. Take it as recollected information only. The two things that have been on most of our minds is revenues. Let me get that out of the way right now. Tell me about revenues for the 2nd qtr: Significantly more than all of 1998. What direction are the revenues coming from for the 2nd qtr? Mostly telecommunications. Comments on the revenue projections for 1999:We are still on track with our initial projections for 1999 and see no reason to believe otherwise. I asked about M & A and what kinds of companies they are looking at: The industries are the type that would be a match for FNTN's data mining capability and increase the universe for their videos. Companies that are involved with domain hosting, phone companies, internet companies. Are there any companies that are being actively courted at this time. "We have several that we are interested in pursuing." If we are a video company, where's the videos? "When the marketing push happens, there will be significant changes, additions and upgrades." Do you have an approximate time for the marketing push: Yes, it is slated for the very near future. Within 60 days? My target is sooner than that. Tell me about the current relationship with Siemens: It is excellent. Mr. Weller who is on our board had been promoted to head of Sales and Marketing for all of North America. This means we have direct access to the top decision maker and it has cut out many corporate layers. What will this restructuring of Siemens do to the relationship with FNTN? It has already helped enormously as I said. Our board member is now in charge of all NA. Trade Shows? Siemens has cancelled the trade shows this year that we would be involved in. They are undergoing significant restructuring. However, that does not rule out FNTN doing a trade show on its own. However, we are busy enough with the move and our upcoming marketing push and other projects that we will probably pass this year. Let me take a minute from the conversation to talk about the new space. It is located in Mt Kisco, NY. Approximately 40 minutes north of the city with no traffic. It is just down the road from Readers Digest Global Headquarter in an office park that contains about half a dozen buildings. The space is approx. 4,000 sq feet and used to be occupied by KKR. It is a very classy space with room for about a dozen employees with a large conference room. The work stations are in and desks are in the offices. Michael said the move would be done in August, with the data center being moved in October. Moving the office will be no big deal, but the data center is a bit tricky. They are talking with three different data centers right now and are in the middle of deciding which one will be the best. One big requirement is that they have enough bandwidth on demand to handle the webcasts so a "Victoria Secret" type crash doesn't happen. They will get everything ready in the new center up to plugging in the equipment. Then on a Friday night, they will take the equipment down, crate it, have special movers load and transport to the new location. Then plug it in, crank it up and then start testing the hell out of it so it can be on line Monday morning. How much of the future of FNTN depends on the APO: What the APO allows us to do is accelerate our plans 10 fold. Without it we will still be able to accomplish all that we plan, but it will just take longer. Any significant new hires: Yes. We are bringing in a heavy weight operations person with M & A, finance and operations background. He holds both a JD and CPA degree. He will be joining us shortly. This will absolutely free us up from many operations and administration duties we have been doing. We are also doing regional job fairs to expand our tech staff. When do you expect to have the current filing approved: It will be done by 8/14/99. I left Mt. Kisco feeling much more confident that when I arrived. I do not like the current stock price and am getting weary of this "quiet" period. I have been with this company for over two years and have much at stake. I came away knowing that we are almost to the end of the set up phase of this company. With all of the things that are in place, all of the things that are in the works, the people that are coming on board, the filing is about done, marketing push is around the corner, I am seeing the light at the end of the tunnel and it's not another train coming at us. I hope this helps everyone. If you have specific questions, please ask, or PM me if you want. Best, TMan