i have decided i hope idtc does not issue a press release after reading the full otc journal article:
To OTC Journal Members:
Update On 1st Net (OTC BB: FNTTE)
There has been a temporary symbol change for our parent company, 1st Net Technologies (OTC BB: FNTTE). Starting today, November 5th, the NASD has added an "E" to the end of our symbol signifying that we are in the process of having our SEC Form 10SB2 reviewed.
We actually filed the SEC Form 10SB back in August, giving ample time for the SEC to review the document. It is available in the EDGAR system for investors to read, and can be found through the Shareholder Information section at www.1stnettech.com, or by clicking here. This filing causes 1st Net to become a fully reporting company on the same level with all the large cap companies. At some point in the future the "E" will be removed and the symbol will return to "FNTT".
Crayon Crawler Announcement
Today after the market closed there was a news release issued concerning a new relationship for the Crayon Crawler. This is by far the most significant announcement to date.
Those of you that follow 1st Net stock know that it has been trading extremely well for the last two weeks, having come off a $2 low and charging up as high as $5.25 as a result of many recent developments concerning this revolutionary new browser to make the Internet safe for kids.
Today's news release is the most significant of all for the development of the Crayon Crawler. Today it was revealed that 1st Net has formed a strategic alliance with IDT Corporation (NASDAQ: IDTC). IDT Corporation is a telecommunications company which offers a broad range of integrated long-distance telephone and Internet access services with annual sales in the $200 million range.
This alliance is Crayon Crawler's first with a major Internet Service Provider, and allows for revenue sharing when users of the Crayon Crawler choose IDT's service.
We believe that this news release will be received very favorably by the market as IDTC is a stock which is followed by thousands of investors. This will undoubtedly create an entirely new audience for shares of 1st Net as investors that watch IDTC become aware of the company.
Furthermore, this is the first alliance with a major ISP. Small companies like 1st Net have problems bridging the "Credibility Gap" with larger potential partners. Signing the first contract with a major ISP paves the way for additional relationships with both similar and larger companies within this industry.
The timing of these last announcements has been ideal. The Crayon Crawler has a great deal of momentum going into its formal introduction at the upcoming COMDEX Consumer Electronics show later this month at the Las Vegas Convention Center.
As always, we remind you that any comments or observations that we make about our parent company, 1st Net Technologies, should be considered self serving and a conflict of interest.
Here is the complete text of the news release for your review:
Press Release
November 5, 1999
1st Net and IDT Form Strategic Alliance
Deal allows 1st Net to bundle high-speed Internet access with its Web-based products and private label browsers
SAN DIEGO, November 5, 1999-? 1st Net Technologies (OTC BB: FNTTE) announced today the signing of an agreement with IDT Corporation (Nasdaq: IDTC) that allows 1st Net Technologies to offer its customers and partners unlimited dial-up access to the Internet on IDT?s national network. By partnering with IDT, a respected national Tier 1 Internet Service Provider (ISP), 1st Net will be able to bundle IDT?s high-speed dial-up access and premium technical support with its proprietary browsers designed for custom content delivery.
?We are delighted to bundle dial-up access with our community-based browsers,? said Clifford J. Smith, President of 1st Net Technologies. ?Online niche communities are rapidly becoming a significant force in the explosive expansion of the Internet. We are happy to provide our customers and partners with this high-quality service designed for the Internet?s dynamic growth, built right in to our browsers. We intend to bundle this service first with the Crayon Crawler browser and community suite, the flagship product of 1st Net?s subsidiary corporation Children?s Technology Group.?
1st Net will serve as a reseller and will incorporate IDT?s services as part of its integrated Web-based technology solutions. 1st Net will make IDT?s services available to its subsidiary, client, and partner companies through private label browser deals and through 1st Net?s proprietary community browsers. Subscribers to Children?s Technology Group?s Crayon Crawler will be the first to benefit from 1st Net?s deal with IDT, and can elect to receive IDT?s high-speed Internet access and high-quality customer service.
?IDT is pleased to offer the benefits of its high-speed dial-up Internet access and customer support services to growing Web-based technology companies like 1st Net,? said Jim Courter, IDT President and Vice Chairman. ?The deal presents significant growth opportunities for both companies in family-oriented Internet technologies, one of the fastest-growing markets on the Web.?
IDT maintains over 750 Points of Presence (POPs) in the United States through its DS3 Clear Channel Backbone. IDT?s DS3 backbone offers an impressive 7:1 modem-to-user ratio and provides users with a fast and efficient connection to the World Wide Web.
IDT offers dial-up access to over 80,000 customers in 49 states and Puerto Rico, as well as dedicated access to over 500 corporate customers. For more information on IDT, go to idt.net.
About IDT Corporation:
IDT is a leading emerging multinational carrier that combines its position as an international telecommunications operator with its experience as an Internet service provider to offer a broad range of telecommunications services to its wholesale and retail customers worldwide. Through its national telecommunication backbone, IDT provides its customers with integrated and competitively priced international and domestic long distance, prepaid calling cards, Internet access, and Digital Subscriber Line (DSL) service. For more information, visit IDT Corporation on the Web at idt.net.
About 1st Net Technologies, Inc.:
1st Net Technologies, Inc. is a diversified Internet development and holding company specializing in on-line investor relations programs, Internet marketing, database capture and information management, and client/server-based software applications. The company owns and operates several financial investment portals and a financial on-line community Web site. 1st Net is publicly traded (OTCBB: FNTT) and located on the Web at 1stnettech.com.
Shareholders and interested parties who would like to receive up-to-date investment information on 1st Net Technologies on a regular basis can register with us online at 1stnetmail.com
Note: News releases and other information on 1ST NET TECHNOLOGIES, INC. can be accessed at 1stnettech.com on the Internet
The foregoing press release may include numerous forward-looking statements concerning the Company?s business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited ?safe harbor? for certain forward-looking statements. Forward-looking statements in this press release relating to product development, business prospects and development of a commercial market for technological advances are based on the company?s current expectations. The company?s current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company?s actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.
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1st Net Technologies Inc.
Jeff Chatfield, 858/675-4449, Fax 858/675-4443
1stnettech.com
S&S Public Relations
Steve Conrad, 847/955-0700, Ext. 255
sspr.com
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