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To: john mock who wrote (815)	8/10/1998 7:09:00 PM
From: Warren A. Wilbur, Jr.	Respond to of 40688

Dear Mr. Mock, (you certainly are living up to your name) I am curious as to why you have condemned this company so quickly. I have been involved with technical development work for almost 10 years in the medical industry and I can tell you that no matter what people put down as their timeline for completion it predictably takes longer. Whenever any complex project is embarked on you will ALWAYS, ALWAYS, find many problems which were not anticipated when you started the work. It is simply the nature of creating something new. I don't think that PNLK is failing to meet their goals simply because a timeline slips a few weeks. If you have any experience in complex business development you would be aware of this. I am looking at the quality of the companies who are "in bed" with PNLK i.e. Unz and Co, Zagoren, and the others. I know from personal experience that the best indicator of a company's eventual success is a proven track record of the people in management. At this stage I would say that the key players outside of PNLK are Zagoren and Proxicom. All one needs to do is look at the work they have done in the past and future projects to know they are likely to succeed again. Of course, it is possible that all of the information that is available on PNLK through the investors package (which I assume you must have read) and the press releases are a pack of lies. I guess if a lot of people don't mind jail terms for securities fraud this could be the explanation. I personally doubt this is likely. Todd (Voluntary Disclosure: Position- long; ST Rating- strong buy; LT Rating- strong buy) *BTW Rudy, you are correct I was a good soldier, but guess what stocks are the last item worth defending, I just enjoy playing with you and your friends who can't seem to understand what "mind your own business" really means

To: john mock who wrote (815)	8/10/1998 8:05:00 PM
From: Warren A. Wilbur, Jr.	Respond to of 40688

Market Maker Speaks Out - Ways of a MM (Market Maker) I was a OTC MM for about 10 years ending in the late 80's. Since then I have been strictly an investor. Since I have not been that up to date in MM rules I will only make statements that I feel fairly confident are still accurate regarding these activities. By and large most MM don't have a clue nor do they care to learn, about the fundamentals of the stocks they trade. They just try to make orderly markets. When dealing with BB stocks it is very easy for a MM to get trapped into being short in dealing in a fast moving market. Reason being; most of the MM's in this stock are what are called "wholesalers" this means they don't have retail brokers "working" the stocks. So they have to rely on whats know as the "call" from larger retail houses. If a "Big" retail firm like an E-trade calls up a market maker to purchase say 5,000 shares of a stock, they expect to get an "execution" from that market maker. If he turns them down, or only gives a partial then the "Big" firm will go to another MM. If this second MM "fills the order" then that "Big" firm has a moral obligation to continue to give future "business" in that stock to tha MM who preformed (his life blood). This will go on until he "fails" to perform and so on. Contrary to popular opinion the "Big" firms Do NOT neccessarly go to the "Low Offer" to fill a buy order (Or high bid for a sell). The "Go" to who they think will perform to fill the order and expect that MM to "match" the "low offer" in the case of a buy (bid in the case of a sell). Even though this MM might in fact be the "high bid" and not really want to sell any more. As a wholsaler he must perform or he will get a reputation as a "non-performer" with the "Big" houses and will cease getting "calls" which means he will soon go out of business. I mentioned above that this activity is very significant to BB stocks. I say this because most of the trades in these BB stocks are "unsolicited" and are done through discount houses, ergo "Big" firms. With the above groundwork layed, let me try to explain how market makers get short even if they like the Company; Lets say that a stock (shell) has been lying quitely at $.25 bid $.50 offered. A limit order comes into one of the MM's to Buy at $.50 for a thousand shares. Prior to this trade that MM may be "flat" (neither long or short any shares). He fill the order and is now short 1,000 shares. He may raise his bid hoping to find a seller to "flatten" out his position. But before he realizes it a wave of buyers have come in and cleared out all the $.50 offers. Now the stock is $.50 bid .75 offered. Here comes that "Big" firm he just sold the 1,000 shares to at .50 with another bid for 1000 at .75. He makes this print. Now he is short 2,000 at an average of .625. The market keeps moving and now its .75 bid 1.00 offered. Now he has to make a decision. Just like investors, MM Hate to take a loss. So 9 times out of 10 he will now sell 2000 at 1.00 making him short 4000 but with an average .81. At this time he would love to see a seller at .75 so he can cover his short and make a few bucks. But instead the market keeps moving up. Now it is 1.00 to 1.25 and here comes the buyer again at 1.25. He doesn't want to loose the call so now he needs to sell 4,000 at 1.25 to keep his break even point above the bid. Now he is short 8,000. Market moves up to 1.25 bid 1.50 offer here comes the buyer now he feels he must sell 8000 here because "stocks don't go up forever". Now he is short 16,000. And so on and so on. If the stock keeps moving up, before he realizes it he could be short 50k or 100k shares (depending how big his bank is). _________________________ Finally the market closes for the day and on paper he may look allright in that his "break even" price may be around the closing price. But now he has to figure out how to entice sellers so he can cover this short. It is important to note that if this happened to one MM it has probably happened to most all of them. Some ways MM's entice sellers; Run the stock up with a "tight spead" in a fast market, then "open" up the spread to slow down the buying interest. After it has "cooled off" for a little while lower the offer below th last trade right after a small piece trades on the offer then tighten the spread so that the sellers feel they can take a "quick profit" by "hitting the bid" on the tight spread. Once the selling starts the MM's will walk it down quickly by only making small prints on the way down with the tight spread. Another way is by running the stock up in the morning, averaging up their short then use the above technique to walk it down in the afternoon. Hopefully after doing this for several days, it will demoralize the buyers. The volume will dry up and the sellers will materialize thinking that the game is over. Contrary to popular opinion, MM usually Do Not Cover in Fast moving markets either Up or Down if they are short. They Short More. They usually try to cover after the frenzy is out of the market. There are many other techniques they use but the above are the most popular. This technique works about 9 times out of 10 particulary in a BB market. However that is because 9 out of 10 BB stocks are BS. Remember what I said above. Most MM's don't have a clue as to the value of a Company until they get trapped. If the Company has solid fundementals and a bright future. Then the stock will do very well. And the activity that caused the situation will prove to even help the future stock activity because it created an audience." _____________________________________ ***and folks, we all know we have created an audience <S>...

To: john mock who wrote (815)	8/10/1998 11:19:00 PM
From: ztect	Read Replies (1) \| Respond to of 40688

John: Please make your personal comments using private messages. Thanks z Regarding your pattern of posting only to this thread (aside from your two posts today to the WINR thread) with only purposely non-constructive comments, I have copied all your messages to enforcement@sec.gov. Though I don't necessarily agree with Sai or Rudy, I do believe they have made statements that are worthy of discussion. However, your comments are consistent in that they are just an affront intended only to instigate a reaction and no discussion whatsoever. Please either engage in a dialogue or cease and desist with any of your further actions immediately.