To: Russell Gish who wrote (3721 ) 5/29/1998 10:55:00 AM From: TARIQ STOCKS Respond to of 25711
ICNT information from their SEC report: ICNT owns three wholly-owned subsidiaries: 1-NTC: telecomunication, huge sales~$120M, big losses, they have an agreement to sell this one for $17M and %16 stake in the aquaring company.natltele.com 2-GenSource Corporation: develops and markets insurance-related claims administration $1.6M in sales, huge profit margin and income.gensourcecorp.com as well as others most have profits. The point here is that despite their loses and the Nasdaq warning which plunged the stock price, If they sell NTC they will become a profitable company with huge cash. Their May 27 release says and I quote: "Incomnet has until July 15 to comply with NASDAQ's net tangible asset requirement. The company said that this will be achieved if the sale of its National Telephone & Communications (NTC) unit is approved by shareholders and consummated by that date. In March, the company reached an agreement with Minneapolis-based NTC Acquisition, Inc., now NextCom Worldwide Communications, Inc. to sell substantially all the business and assets of NTC for about $17.0 million in cash. Incomnet also would receive a 16 percent stake in the acquiring company." This company has a Cap of $5M and will get cash $17M, if the sales is approved we should satisfy Nasdaq meaning above a dollar. I am shareholder and all for the sale of NTC. ICNT has been steadily rising from the ashes. Study this one carefully, no rush here. %95 of the owners of this stock have bought it at above the dollar and %99 probably above these levels. The shareholders approval is the big thing in this one and I hope it happens.