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Microcap & Penny Stocks : ECNC (OTC:BB) - eConnect -- Ignore unavailable to you. Want to Upgrade?

To: buffaloha who wrote (6958)	3/14/2000 1:50:00 PM
From: Fundamentls	Read Replies (1) \| Respond to of 18222

My math was a little off, but I wasn't referring to the 61 million, I was referring to the discrepancy between the number of shares they have told us about and the number the transfer agent says area actually out there. First off, the 200 million number you cite were never issued, they were simply the number authorized for issuance. The company still has to file registration statements or 8-K's (or both) relative to shares that have been or are subject to being issued. They have done that to an extent, but the numbers just don't add up. What we know about issued shares is that: as of 8/13/99 there were 60,523,775 shares issued & outstanding (see 10-QSB filed 9/3/99) 61 million shares were registered by the SB-2 POS (gotta love the name of that form!) filed on 9/29/99 and effective 9/7/99, to be issued over the next two years. as of 9/30/99 there were 77,852,101 shares issued & outstanding (see 10-QSB/A filed 3/9/00) They paid 7 million shares for 777wins (see 8-K filed 11/16/00) So they've told us about potential of about 128 million shares (60+61+7) that might be out there, assuming they've sold (or otherwise issued, since it wasn't all for direct sale) the entire 61 million. The transfer agent says there are actually 158 million shares out there. Who's got the other 30 million shares? Where did they come from? What form of compensation did you (the shareholders) receive for them? That's about a 25% increase in the # of shares, certainly material in anybody's book, and therefore requiring an 8-K filing. Actually it could be more than twice that, since they there could be another 32 million in the form of shares underlying options warrants or convertibles (these wouldn't be known to the transfer agent), still without exceeding the 200K limit, and since they may not have issued all of the 61 million yet (in which case the discrepancy is still larger). So 25% we know for sure, maybe 50-75% depending on what else they haven't told us. I was approximating when I said double, and I'll agree my approximation was a little too loose. Any way you cut it, though, it's significant. Maybe I've missed something, or maybe you have an answer for this. If so, I'd be interested in hearing it. But then again, it sounds like you don't even know the difference between authorized and issued shares, so I won't hold my breath. And by the way, despite your accusations I don't believe I've been terrorizing this stock; feel free to check the history of my postings, and I would ask you to be careful about your generalizations. As for holding a position for my own personal gain, I plead guilty, but then again so would everyone else who is posting on this board, including you, be guilty. The lone exception would be John Reed Stark, who right now represents a much greater challenge for ECNC than the shorts. And by the way, shorts generally do much more extensive DD than longs, because the risks of short selling are much greater. Those who don't do good DD get killed off quickly. Bulls get rich, bears get rich, pigs get slaughtered. Fund

To: buffaloha who wrote (6958)	3/14/2000 3:41:00 PM
From: longtom	Read Replies (2) \| Respond to of 18222

Hi Buff, I am not a short. I owned this stock for a long time and sold a few weeks ago after coming to the conclusion that something was rotten with ecnc. You should go back through the long list of press releases with an objective eye and ask yourself what has become of all of the promising deals outlined in the various pr's. If you couple that careful reading with what is happening presently, I think you will have a hard time feeling confident about your investment. At this point I feel it is very likely that people are getting screwed by this co. Time will tell. Tom