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Microcap & Penny Stocks : XSNI - X-Stream Network -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey D who wrote (3244)	12/30/1999 1:26:00 AM
From: Jeffrey D	Read Replies (1) \| Respond to of 3519

Hmm, don't believe I have seen this posted. Well, this explains what happened with the South Africa venture. Looks like it wasn't a match made in heaven. I hope Livedoor has better luck with the X-Stream Japanese software. Jeff << BUSINESS DAY (SOUTH AFRICA): FREE INTERNET SERVICE REVAMPED 97% match; Business Day (Johannesburg) ; 21-Oct-1999 02:51:48 pm ; 463 words Malfunctioning software package forced firm to take new approach SAs first free internet service, XStream, has been forced to revamp its offerings after teething troubles. The major change has seen XStream SA cut all ties with its partner X-Stream UK and abandon the R34m software package it bought from the UK service provider. The Cape-based company had paid part of a R4m deposit and was due to make annual payments of R3m for the next decade. MD David le Roux said he was trying to recoup the deposit, because the software malfunctioned and deleted banner advertisements from the website. I couldnt take money from customers if the advertisements dropped, said Le Roux. X-Stream has now developed its own software and is planning a marketing campaign to grow its user base to a critical mass of 100000. Le Roux claims about 35000 subscribers have registered so far. The company has also changed its name and website to xsinet.co.za. Users were unable to find the XStream site because they spelled it incorrectly. The free service was launched in June with rival, paid-for service providers predicting it would run out of money within a year. Le Roux says that will not happen despite the run of trouble they have had. The company has never disclosed its financial backers, although at one stage X-Stream UK was poised to take an equity stake. Since that relationship is dead, XSInet is being funded purely by local backers. Le Roux says the service is on course to be profitable by February or March. Revenue is flowing because XSInet will host corporate web sites for free, providing the companies redirect the money they save into advertising on the site. Moreover, XSInet hopes to list on the Johannesburg Stock Exchange by the end of the year. Although the venture capital sector is currently weak, Le Roux says the listing would not be to raise money, but to raise the profile. We want to be the first to market to list a free internet service. In a final change, XSInet is obliging users to pay for an e-mail service at R99 for six months. This comes after malicious users set up anonymous accounts with X-Stream and tried to hack into banking systems. After six months users can opt for a free e-mail service such as Hotmail, said Le Roux, but by then their records are on file so any hackers can be traced. That will also clean up the database to show advertisers that they are reaching a valuable audience. People have been opening accounts using made-up names like Mickey Mouse. The only way we can sell advertising is to show a clean database which has been audited, but 5% of people filled in rubbish. . All Rights Reserved. Copyright ¸ Chamber World Network International Limited