To: Bill Fortune III who wrote (1624 ) 5/11/1998 12:52:00 AM From: TechnoWiz Read Replies (3) | Respond to of 2897
Hi Bill and everyone: Was off line upgrading computers most of the weekend, but I really wanted to add some further thoughts and ideas to what happened last week and also intended to share with you all how I received a surprisingly interesting call late on Friday, from a good friend and business associate with whom I had discussed both the business concepts, as well as the investment potential of Financial Intranet on a number of occasions over the past few months. He is an executive with a major financial institution and he proceeded to inform me that he had just been given instructions by his company to explore all options with a view to take their company to the 'next level' in a no holds barred preparation for the digital future. Among the specifications was included the creation a "Secured Intranet Network" for the company and its associates capable of transacting secured online brokerage business and all other anticipated exchanges of financial data, funds etc. Another specific requirement was the incorporation of videoconferencing wherever possible. Apparently someone else at the firm had also gotten wind of Financial Intranet and others too wanted more information, so my friend had been trying to locate Michael Sheppard to learn more, in fact, he was so anxious to get hold of him, he called me twice to verify the change of location and number etc. He wanted to know as soon as possible from MS, how much of this they could provide if not all and how soon it could be up and running. Friends, this is a very prestigious name in financial circles and having them as a client might inspire a lot of like or repeat business from their many business associates. This firm does huge business with major institutions Worldwide. Realizing the importance of moving quickly on this one, I called the office and left a message for Michael Sheppard to call me back asap, as it was getting late and my friend was about to head home. Apparently MS was not available but Barry Stein returned my call to MS late Friday and from what I can gather, we were successful in putting the two parties together. What followed then, was a fascinating conversation and some prolific note taking. He began telling me about this new paging concept and all of its capabilities and potential. As I prodded him to elaborate some more, I began to realize that his experience in this area was much more widespread than I had originally thought. Not only does he have 30 years experience in the Securities Industry as a Market Maker and Floor Broker on the CBOE (Chicago Board Options Exchange), where he handled business for some of the largest firms on Wall St. He was also Managing partner of a New York Stock Exchange Member Firm and CEO of his own broker dealer. I also learned that he has considerable knowledge and years of experience in the quote vending business with emphasis on the dissemination of Financial news and Information. During our conversation, he reminded me of his involvement with Kevin Haggerty, where they had both been managing partners at a New York firm, which led to the sales and marketing of the "Shark" Quote system throughout the country. This venture ended up being successful enough that they were bought out at a relatively early stage of development, for $28 million in 1985. When one considers the kind of premium being placed on these types of operations today, it's not hard to figure $28 million back then, represents a whole lot more in today's money and climate. Apparently, the "Shark" System has since changed hands again and was eventually incorporated into ADP's Financial Network. With the depth and diversity of this strong securities background behind FNTN, from two influential professionals who so completely understand the market and what traders and brokers need and require above all, combined with their vision on how how they intend to provide it in the near future, it was certainly a riveting conversation to say the least. What had the most impact on me however, was how truly impressed Mr Stein was with the operational capabilities and applications that the "Watchdog" pager possesses and how it has the potential to cover such a wide ranging spectrum. Particularly noteworthy was his foresight and planning on how all this will seamlessly integrate with Financial Intranet's "Intranet hardware and software foundations and growing infrastructure". Their ability to market and sell this product to all members of the securities industry and other vertically integrated markets is without precedent because of their long-standing relationships with executives within the industry and the sheer appeal of a potential 'must have' product and its future capabilities. When I read the Mission Statement that Financial Intranet publishes at the bottom of each of its press releases, in reading between the lines, I see the words: 'Emerging standardization in development". It is becoming easier to see, that if they can begin to set a new standard in the delivery of Financial Information, it just might catch on big. Obviously these boys know what they are doing and we may have vastly underestimated the potential of this one, especially with such big brothers as Siemens, Worldcom and S&P Comstock willing to help out. Rgds Wiz