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Microcap & Penny Stocks : Financial Intranet Inc. (OTC:BB:FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: JOHN WHITE who wrote (2710)	6/30/1998 8:11:00 PM
From: Jim Porter	Read Replies (1) \| Respond to of 2897

John, As I posted previously, through a change in the Corporate Bylaws, 50% of RETAINED EARNINGS could be allocated towards the repurchase of a preset percentage, or number (say 15 or 20 million shares) of company stock. If you re-read one of my previous posts (# 1997), you will see the advantages of repurchasing stock. As to how it could have been done differently; in the bigining, when the Articales of Incorporation were drawn up, x number of shares were issued and allocated - for various unknown reasons. However, once someone has received one or two million shares of stock (at any value), they are very unlikely to give any of it back - for any reason - muchless for free. The only alternative IMO was to either issue additional stock, as it was needed, or issuse millions and tens of millions at the time of inception. If someone wanted to research the orginal Articles of Incorporation, we could learn more. However, I don't think this information is worth the time it would take. Jim Porter