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Technology Stocks : E-net - (ETEL) Patented telephony product -- Ignore unavailable to you. Want to Upgrade?

To: J. Nelson who wrote (5)	10/23/1997 7:46:00 PM
From: Pete	Respond to of 545

From WSRN site it says there are 5.75M shares outstanding and red ink. Obviously a dev stage company. here's the URL www1.wsrn.com

To: J. Nelson who wrote (5)	10/23/1997 8:34:00 PM
From: Robert S. LeClair	Respond to of 545

Ok I found my Prospectus. Here's a summary: 1) Subsequent to the IPO a few months ago, there are now 5,750,000 shares outstanding, many of which are restricted and subject to the guidelines of Rule 144. 2) The exercise price on the warrants is $5.25. The warrants "are redeemable by the Company at $.05 per Warrant,,,,,,if the closing bid price for the Common Stock equals or exceeds $10.00 per share during any 30 consecutive trading day period,,,,,,". 3) For the 9 months ended December 31, 1996, E-Net derived 72% of its revenues from Sprint and 23$ from Comsat. Hopefully these percentages have declined! 4) In March 1996, the Company acquired all rights title and interest in the first U.S. patent, which is comprised of and has been approved for 40 claims, for a system and method for communicating high fidelity and clear transmission audio or voice over the Internet and intranets, enabling free worldwide high fidelity and clear transmission of ordinary telephone communications. The Company acquired these rights from the 2 inventors in consideration of a 5% overriding royalty interest against gross profit involving the use of the patent. 5) E-Net's main product is Telecom 2000 and based on the patent rights acquisition. The product has apparently generated a tremendous amount of interest at various trade shows in which the company has participated. 6) Bob Veschi, President and CEO, is the key person. From 1990 to 1994, he was a group President at I-Net, during which time the company experienced explosive growth. 7) Alonzo E. Short, Jr., Lt. Gen., USA (ret) is Chairman of the Board. He served as Commanding General (1990-1991) of the U.S. Army Information Systems Command,,,,which was responsible for all telecommunications during the Desert Shield/Desert Storm operation. Does anyone else smell government contracts??? It should also be noted that Edward Ratkovich, Maj. Gen., USAF (ret) is also a large shareholder and was a participant in a bridge loan to the company. General Ratkovich is Chairman and CEO of MVSI. Hmmm,,,, 8) Interestingly enough, in August 1996 E-Net signed a letter of intent to be acquired by MVSI. However, MVSI's stock started to tank and this agreement was terminated. 9) Their website is www.eent.com but I've had trouble accessing it last couple of days. With the Barron's cover story on Internet Telephony 2 weeks ago, I have to believe some big things are happening at E-Net. Look at Netspeak (NSPK) up huge the last couple of weeks. Anyway, I suggest you if you're interested you do more research. Good Luck.

To: J. Nelson who wrote (5)	10/23/1997 9:22:00 PM
From: bill	Read Replies (1) \| Respond to of 545

In addition to NetSpeak(NSPK) you might also check out VocalTec in the "Communications" Group. The nice thing about ETEL is that it sports a market cap of an "order of magnitude" less than VOCLF and NSPK. There is also vibrant discussion on the Franklin Telecom (FTEL) thread in Misc. - "Five Dollars and Under". You might browse some of the websites listed by Neil Wicker in Reply #17338 in that thread. I didn't spend too much time there, but some of them seemed pretty helpful. Finally, there is an article in the August 1997 issue of "Computer Telephony" entitled "E-Net's Amazing Telecom 2000." I don't know whether this journal has a website, but it would be a great general source. Good luck.