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Microcap & Penny Stocks : PINC - Planet City -- Software and Services -- Ignore unavailable to you. Want to Upgrade?

To: Robert Ague who wrote (385)	8/22/1998 1:46:00 PM
From: Andrew H	Read Replies (1) \| Respond to of 1754

Robert, no need to go back to observing. All comments appreciated. I really did not mean to say "shut up fool." Just wanted to set the record straight on the FBN group, since there has been considerable controversy abut them on SI.

To: Robert Ague who wrote (385)	10/30/1998 12:13:00 AM
From: Jeffrey S. Mitchell	Respond to of 1754

Also, Greg said that there are approximately 15.382 million shares outstanding, 2.5 to 3.0 million in the float. Robert, you wrote that on 8/22. According to planetcity.com, as of 8/31/98 they had 11,134,388 and 2,082,500 shares issued and outstanding. Looks like PINC may have to adjust their financials as your figure makes the most sense. For example, since the reverse split on 1/25/98, on 2/20 PINC did a private placement for 9,000,000 shares, another 300,000 shares that same day, 1,000,000 shares on July 29, 3,000,000 shares on 7/15 to acquire MSS, and 400,000 shares again on 7/15. That is an additional 13,700,000 shares issued in less than six months. Using your figures, that means "insiders" only have, at most, 1,682,000 shares-- unless the 9M were issued to a principal? The financials also say they have no income and must do private and public financing to survive. That means further dilution. Most troubling is they seem to be spending their money on promoting their stock and not their product. As a programmer, if it were my product, I'd be sending copies to all the major magazines in hopes of a really good review. Has the actual product been reviewed anywhere under any name? When the software was sold by MSS, what was the product name (i.e. what product did the Australians buy)? Surely if they sold 14,000 a month the product must have been reviewed or mentioned somewhere. I'd like to verify that statement if possible. Thanks! - Jeff