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Microcap & Penny Stocks : PNEC - Planet entertainment ready to spin gold -- Ignore unavailable to you. Want to Upgrade?

To: rharris who wrote (110)	5/7/1998 1:12:00 PM
From: inchingup	Respond to of 221

Hi Rharris: Spoke myself with Wally on Tuesday. Here is a synopsis of some information I passed onto another SI investor of my conversatin: Just got off the phone after 15 minutes with Wally Giakas--MR. PNEC. Fabulous converstation--Unbelievable potential!! I'm Not Hyping. Facts: They master a record-don't press it or do anything else-just give it to distributor--recieve $1 each--this is pure profit; They already have the bucks to go Nasdaq and we don't have to worry about price falling-making lots of deals NOW and will file for Nasdaq in about 30-45 days. They are Exempt whatever that means. Curent short position about 450,000 shares-that's why big spread on bid/ask. Float: 1.5 million Insiders have ownership and have turned down many opportunities from company MM's and other offers to hold company for themselves. Says deal signed with Nippon is only for 1 country distribution, 40 some other countries to be distributed to in future. Says more announcements coming. Says basically legal pyramid as releases go into stores-several each month-restock of first releases from previous month. He thinks Nippon deal bigger than Internet music. Just a synopsis of conversation.