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Microcap & Penny Stocks : Xin Net Technologies - BB: XNET - The Next Internet Stock? -- Ignore unavailable to you. Want to Upgrade?

To: Dorine Essey who wrote (1592)	11/15/2002 10:52:40 AM
From: RockyBalboa	Respond to of 1593

7. Subsequent Events The Company has completed a private placement of 20 million common shares at $0.05 per share for a gross proceed of $1 million on October 30, 2002. These private placement shares will not have any right to any future distribution of The Link Group, Inc. shares that the Company currently owns. After the private placement, total issued and outstanding shares of the Company's common stock are 41,360,010. The effect of the issuance of 20,000,000 shares diluted the Company's common stock outstanding by approximately 48%. The transaction was approved by the Board of Directors.