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Microcap & Penny Stocks : 1st Net Technologies ( FNTT ) -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (1779)	11/28/1999 5:38:00 PM
From: RockyBalboa	Read Replies (2) \| Respond to of 1827

N, I also got the "Important News on 1st Net and SWEB - Happy Thanksgiving" The web adress for the news is: listserv.otcjournal.com They write, amongst others: To OTC Journal Members: It's the Holiday season, and stock market investors have a lot to be thankful for over the last 10 years. This bull market has created enormous amounts of wealth for investors. Please share some of the wealth with those less fortunate during this season. ... StockGroup Holdings (OTC BB: SWEB) We have had a lot of requests for an update on StockGroup as the stock is currently trading just above a 52 week low. ... 1st Net Technologies (OTC BB: FNTTE) Followers of the OTC Journal know that 1st Net is our parent company. Therefore, you should always consider everything we say about 1st Net to be self-serving and a conflict of interest. .... On November 5th 1st Net's symbol changed from FNTT to FNTTE. On or about December 2nd the symbol will change back to FNTT. These symbol changes relate to the Form 10SB which 1st Net filed with the SEC back in August to become a fully reporting company. In early 1999 the SEC and the NASD approved a new rule requiring all companies which trade on the OTC Bulletin Board to become Fully Reporting Companies. In order to comply, companies needed to file a Form 10SB, and complete a comment period with the SEC in order to maintain their listing on the OTC Bulletin Board. We believe that this is a very important step in legitimizing the micro cap market, and it is an important step to help protect investors in an end of the market that is vulnerable to scams. A schedule was published for 1999 and 2000 by which companies would be delisted from the OTC Bulletin Board if they had not achieved full reporting status by a certain date. The schedule goes in alphabetical order based on the first letter of your symbol. According to the schedule, 1st Net must be through the full comment period with the SEC by December 2nd in order to maintain its listing, and an "E" was placed on the symbol 30 days prior to signify this event. In keeping with the typical cumbersome regulatory process, 1st Net filed its Form 10SB in August, but just received its first comments last week from the SEC. They must be answered, and then the SEC must respond again until they have no further comments. We have been told that the SEC is currently receiving approximately 700 Form 10SBs monthly, and they have about 30 examiners reviewing them. We believe that it is highly unlikely that 1st Net will be able to complete the comment process by December 2nd, and as a result will probably begin to trade in the "Pink Sheets" as opposed to the OTC Bulletin Board. This does not mean that the stock will no longer trade. The stock can be bought and sold as it always has been. This event affects shareholders in the following way: - The stock may not be quoted in the places you have gone for quotes in the past. We will send everybody Internet locations for obtaining a current quote until the process is completed. - The price may or may not be effected, and we have no idea whether it will or not. - Management at 1st Net will do everything possible to complete to process as quickly as possible, but they are dependent on timely replies from the SEC to speed up the process. - Management will eventually complete this process, and the stock will return to trading on the Bulletin Board. - Despite what you may have read on Message Boards, this process is no way effects 1st Net's ongoing business. - It is impossible to predict the amount of time it will take to complete the process. It could take one week, it could take several months. - Many companies that have been trading on the OTC Bulletin Board are going through the same process. __________________________________ No further comments necessary. ...