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To: Wes who wrote (1446)2/4/1998 3:18:00 PM
From: uu  Read Replies (2) | Respond to of 3967
 
Wes:

> Joe's a very large shareholder, even larger than he let's on;

Exactly how many shares do you think he has, and what is his average share price?! From his comments it seems he should have at least 5-10 million or more shares!!! He has stated that he had invested over $3 million in XECM,and then over $400K invested from $0.7 all the way to $0.15/shr. That is a bout 200 lbs of XECM shares dont you think so?! And yet none of the SEC documents reflect that, which makes one truly wonder if his claim of being a major XECM share holder is another one of his SEE-BS master piece sit-com episodes!

Also despite the fact that Mr. Lanza is the master director/consultant to SEE-BS network and SEE-BS publications and is highly paid, exactly where does the cash come from to invest in a stock such as XECM (especially since he has said he does not own any other stock but XECM)?!

Regards,

Addi Jamshidi



To: Wes who wrote (1446)2/5/1998 6:19:00 PM
From: Financial Internet Group  Read Replies (1) | Respond to of 3967
 
***Response from Joe Lanza*** 1446

Wes,

Sorry to add to your opinion but some of your facts are wrong or not stated correctly.

At the start of this whole thing, Xecom only needed $2.5 million for 14 bases. I knew I could get that. Then it went to 28 bases and $5 million, then 32 bases and 7« million. This was under Truher and Allan King. SelecTel then had cash problems. I pushed myself and others as far as I could but Xecom finally sold SelecTel. Then King took 5 paid-for switches out of service on the bases and installed 5 new switches, all on debt.

So you are right. The old management did sell Xecom down the drain. The new management has done everything it can to bring in enough funding to keep Xecom going, and this has been made doubly tough for them because King and his associates have been spreading rumors that Xecom is losing the contract, going broke, etc. (which is why they are suing King & Assocs.).

I do not see by the 13D that Andy is upset with mgmt. What I see is that he wants the use of his money (like we all would). So in my opinion, new management did not "give away the store," they saved the store that old mgmt. tried to steal. The debt should not anger you, but the speed at which it was acquired should. The company acquired the debt so quickly because of the wasteful (I think) way the first 16 or 17 bases were set up.

Wes, you have not seen me in control of anything, so your view on this is unfounded. I am not running Dennis Casey. And as for ego, who could have an ego after a year of these postings on the Internet? And when I find somebody who can do what they say they'll do (yes, better than me) I will gladly step aside as Xecom's consultant.

You really should come and sit in this office and watch and listen for a week. You would apologize. It's clear you and Jack don't understand the amount of time that's taken up in a day, trying to get a company to do something, talking to legal, answering the postings, answering questions on the phone for shareholders, etc.

I answered you questions about me and my family and company ownership-look at the amount of preferred turned back.

I will say, to all you readers out there, that Wes is right about one thing-Xecom was forced to issue too much stock too fast because of the cash demands put on the company by old management. However, I do not know where Wes gets his $25 million value. Regis Capital's valuation was 89 to 144 million. I heard another valuation of 56 million-which I disagree with, but that's me. [Wes, this might help you: Xecom refinanced $30 million. Nobody would loan that on a $25 million company, much less on a $3 million one.]

So, in conclusion, Wes is right: too much stock was issued too quickly, but it was necessary to keep the contract. Old management created the mess. Wes is also right about increasing the value of the company-that needs to be done ASAP and one immediate step would be to buy back the Voyager position.

As for myself--Wes, ask Dennis and Joe V. if I have not helped keep Xecom alive.

Joe