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To: ztect who wrote (1035)	8/16/1998 2:47:00 PM
From: Malko	Read Replies (1) \| Respond to of 40688

On the subject of IPO's, there is a lot to debate on. If PNLK went through the IPO process, none of us would have had a chance to buy so cheap as today. The world of IPO's is a very special world. Either you have a relationship with the firm doing the offering, in which case you can eventually buy before the offering and have a chance of rather quick profit, or else you have to buy after the offering and then god help you, it becomes a pure gamble. Then between the time you invest your money on the future offering, and the time the Company is accepted to trade, many unknown things can happen. Its very difficult to have a precise timetable unless it's one of the big one making the offering, in which case, chances of us buying at a good price are even slimmer. IMO IPO's are a very manipulated way of going public but that's the system and you have to follow. Reverse merger into a public shell like PNLK did, gives access to a wider range of investors at a much cheaper price, especially as I mentionned earlier, with the Internet community becoming more powerful each day. Regards Malko

To: ztect who wrote (1035)	8/16/1998 4:20:00 PM
From: Sai P. yandamuri	Read Replies (2) \| Respond to of 40688

ztect, This is exactly the point I was trying to make in my post#999. PNLK, like many other startups with great ideas could have easily attracted venture capitalists and once the company is operational, they could have easily started trading as IPO on NASDAQ in which case it would have attracted several investment houses such as Morgan stanley, Smith Barney etc. There would be have been more following for this stock. Look at how many internet startups like double click, Inktomi etc. started as IPOs and their stock prices were doubled,tripled in no time. So, this poses a number of questions : (1) What prompted PNLK with a great concept not to approach Venture capitalists ? (2) If PNLK is really for LONGTERM (as suggested by several of this thread members) Why did n't they wait(like Inktomi,Double click etc.) until their website is operational & have some revenue stream before going to Public ? (3) PNLK could have gotten wider recognition had they chose to start trading as IPO on NASDAQ instead of settling on OTC. What prompted them not to do so ? May be one of the familier LONGTERM investors may need to ask these questions with PNLK. If someone knows answers, Pl. post so. It is TRUE that most of the internet companies do not have EARNINGS yet. BTW, They all have REVENUES exploding. In fact, this is one reason why NONE on the WALLSTREET were able to value these stock prices. All these companies revenues exploding in one hand but none of them are making money!! This is because NO ONE can possibly PREDICT at what percentage their revenues will be growing and unlike several other industry groups, there is no formula for analysts to value their stock prices and predict future revenues/earnings. May be someday they will but IMO Internet will grow beyond anyone's imagination!! Regarding 'All time blunder' award, Thanx for suggesting Xerox over Apple. But how about IBM ? They invented PC for what ?!! Entertainment purposes and were never serious about marketing it. Who is the beneficiaries out of their BIGGEST BLUNDER ? Starting with Microsoft, Compaq, Dell, and this list goes on and on... IBM also invented SQL and Is n't it Oracle making more money by selling SQL products than IBM ? My vote is for BIG BLUE.