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To: Wesley Davis who wrote (532)	12/5/1997 12:02:00 AM
From: Jay Morrison	Read Replies (1) \| Respond to of 665

Zanett did not file to sell their shares, they decided to take their shares. Yesterday Zanett gave Network Imaging about $3 million in additional capital. This was the second installment and was contingent upon Network Imaging achieving $7.4 million in this quarter. That is $7.4 million in US sales. Last quarter they did $6.5 million for the entire quarter. They still have a few weeks for December remaining. I am upset about the filings. As I understand it, they are registering 25 million shares. That is far more than we were led to believe. The 9.5 million shares for Zanett will place us at 34 million shares, then the minimum on the preferred is 5 million and it could go as high as 15 million shares. It depends on the average price of the common stock for 20 days after December 31st. Worst case scenario is another 15 million shares. That gives us around 49 or 50 million shares. ::sigh:: David Kessick lied again. Yet another reason to fire him in my opinion. Nobody will believe these guys if they blantantly mislead people. Jay