To: TsioKawe who wrote (36189 ) 7/14/2000 3:03:00 PM From: rbotik Read Replies (1) | Respond to of 40688 The following is a letter sent to Glenn by an investor in the PNL Chatroom who requested that I post..... Mr. Glenn Zagoren July 17, 2000 Chairman of the Board 645 Fifth Avenue, Suite 303 New York, NY 10022 Dear Mr. Zagoren, I write to you as a long term shareholder who would like to express my appreciation and commend you personally, and management as a whole, for your exhaustive efforts and accomplishments to date on behalf of the shareholders to bring an extremely complex vision to fruition. However, I also write to you as an anxious shareholder, one who has been among the many faithful supporters of the company who are now struggling to retain a positive outlook during what most consider to be trying times. While none of us have the benefit of your insight or knowledge with respect to the ongoing progress of the company, I would hope you share the sentiment of most long term shareholders who find themselves quite disappointed that certain aspects of the business plan have not, as yet, come to pass. I realize your time is very valuable, however, in the past many of your comments have succeeded in calming shareholder unrest. I have decided to accept your invitation of writing the company directly anticipating that you might find a few minutes to respond to some questions in hopes that my confidence might be restored. I am also very aware that certain questions cannot be answered because of SEC regs. or the companies desire to keep certain information from our competitors. I will attempt to ask questions in such a way that you will not consider them objectionable. It is my sincere hope that you will be willing to be completely open and candid with your responses and not feel the need to evade or ignore. Since I don’t possess the technical knowledge to speak intelligently about that aspect of the company, I do have several basic questions that I, and I feel, most shareholders would be eager to have answered. 1. Is any technical work necessary for the implementation of a completely functional and operational e-credit module currently taking place at this time or is this particular activity temporarily on hold until PNLK can finalize a financing agreement? 2. Is any technical work necessary for the implementation of a completely functional and operational translation module currently taking place at this time or is this particular activity temporarily on hold until a financing agreement is finalized? 3. Is PNLK continuing to pursue a relationship with Atwood Richards? 4. If yes, then is any technical work necessary for the implementation of any completely functional and operational barter and/or auction module currently taking place at this time or is this particular activity temporarily on hold until a financing agreement is finalized? 5. If any technical work on the above mentioned activities is currently taking place at this time and is not temporarily on hold until a financing agreement has been finalized, then how is it being funded at this time? 6. Is it possible that any of the above mentioned technical work currently underway might be reflected as barter revenue in the upcoming quarterly and year end numbers? 7. Have any complete transactions been conducted through the site? (by complete I mean have a buyer and seller conducted any transaction using any alliance available through PNLK where the goods were actually transferred from buyer to seller and payment received) If yes, then could you please give a specific example of a transaction that did take place other than the coal shipment, I think it was, I have seen promoted. 8. Have any transactions taken place through the site whereby PNLK would be entitled to a commission? 9. You have often commented that companies such as VERT, CMRC, ARBA, PPRO, etc., are not competitors at all, but rather potential alliances. I am not currently aware of any other company attempting to build or produce a one stop source with all the back end support necessary to conduct any and all aspects of global e-commerce across both vertical and horizontal markets. A company who has secured the vital and necessary contacts and relationships within the top echelons of government both within the US throughout the world. So could you give me 2-3 specific examples of companies you would consider to a competitor of PNLK. 10. Are any public documents required to be filed with the SEC concerning the appointment of additional board members? If so, at what point are they required to be filed? Has PNLK submitted these forms? 11. Has anyone within management at PNLK been contacted by any other OTC-BB company who are attempting to fight what many perceive to be blatant MM manipulation and/or illegal shorting activity? 12. Has the company ever compared the official company share register to the total number of outstanding shares to determine the presence of any illegal shorting activity? If so, when? If not, then please explain why not? (Especially in light of the fact that PNLK is now listed on other foreign exchanges, as well as, what many consider to be a very questionable, at best, trading history.) I realize this next set of questions might be considered of a delicate nature, however I will once again attempt to ask them in such a way that you would feel comfortable answering them openly. 13. Is PNLK continuing to pursue a combination of investments sources for this round of financing which would include a) companies PNLK would consider to be a value added partner b) investment banks c) venture capital groups? 14. Would any brokerage house be part of this combination of investment sources? 15. Would any private investor within the company be part of this combination of investment sources? 16. Would any private investor, not considered to be an insider, be part of this combination of investment sources? 17. Would any of the companies PNLK might be considering as a value partner be among the Fortune 100 companies? 18. Would any of the banks PNLK is considering for financing be among the top 25 banks worldwide in terms of total assets? 19. Can you guarantee a shareholder meeting before the end of this year? Thank you very much for your time and your continued efforts on behalf of the shareholders of PNLK and I eagerly await your response to my questions. Sincerely,