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To: Bob Abegg who wrote (1472)	7/28/1998 10:36:00 AM
From: Q.	Respond to of 2506

all: ILNK, the amusing medical supplier cum MLM phone service reseller cum technology innovator, just renegotiated its discounted convertible to have a floor. The fund got warrants in return for giving up the floorless provision: DRAPER, Utah, July 28 /PRNewswire/ -- I-Link Inc. (NASDAQ:ILNK), an enhanced voice and data communications company, today announced that it has reached agreement with the institutional investor that recently purchased $10 million of I-Link's Preferred convertible shares to amend the terms governing the Preferred shares to provide for a floor on the price at which the Preferred shares can be converted into Common shares. The amendment provides for a conversion price of the lesser of $4.00 per Common share or 87% of the market price of the I-Link Common shares at the time of conversion, subject to a $2.50 "floor". In the event the market price remains below $2.50 for five consecutive trading days, the floor will be re-set to the lower rate, provided, however, that the floor shall not be less than $1.25. The Investor will be issued 100,000 additional warrants at an exercise price of $4.00 per share. The Preferred shares are subject to specific provisions that would prevent any issuance of I-Link Common Stock if and to the extent that such shares would equal or exceed in the aggregate twenty percent of the number of Common Shares outstanding prior to the recent $10 million placement absent shareholder approval as contemplated by the Nasdaq Stock Market Non-Quantitative Designation Criteria. Founded in 1994, I-Link Inc. is an enhanced voice and data communications company that uses Internet protocol (IP) telephony and its own private network to provide low-cost long-distance, conference calling, voice mail, fax, e-mail and other communications services. I-Link's products and services are primarily offered through a network marketing channel. Through wholly owned subsidiaries MiBridge Inc. and ViaNet Technologies Ltd., I-Link develops emerging communications technologies that are used by I-Link and other leading communications firms worldwide. I-Link is headquartered in Draper, Utah, and its Web site is located at i-link.net.