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To: Andy stupak who wrote (24425)9/2/1998 10:52:00 PM
From: SalmonMan  Read Replies (1) | Respond to of 50264
 
Crew....from launchingpad (notice the YTD numbers):

With the global financial markets adversely affecting the Stock market,the Internet Telephony Sector experienced its worst week of the year. Dropping over 12%, there was no protection to be found in Large, Mid or Small Cap stocks, as all felt the effects.

Qwest and Level 3, which were both added to the Nasdaq 100 in the past
week, followed the trend of that group and both experienced some of
their largest drops of the year. Qwest is down close to 25% in the last few weeks, and Level 3 close to 20%. The Mid Cap sector that had seen some stability among the more recent turns of the market, joined into the marketwide drop, with ETEL and RMII, both dropping over 25% last week. IDTC, which had avoided a majority of the correction, finally succumbed and joined in the overall sector weakness. The previously damaged Mids , NSPK, NMSS, and VOCLF lost much of any started recovery and are still sitting near their respective lows of the year. The five dollar and under Internet Telephony stocks were once again a mixed bag as this group included few of the only stocks to gain in the teeth of the further market downturn. LKON and CAGI were two who bucked the trend and rose. Others lost a smaller percentage as the damage has been done over the course of the last several months.

While the loss in price has been dramatic on several of the IT issues,
many investors view this as an undervalued sector now and anticipate
bargain hunting to begin within the next two weeks. The value of the
sector now seems to be more inline with current revenues, as opposed to future earnings, making for many good values. As always, we will be
watching to see which issues break the pattern first and signal which
direction the sector will have heading towards the fall earnings, which should be an important season for the sector.

The Internet Telephony Index
For the week 8/24/98 to 8/28/98

Symbol Price Week YTD% Year Open Week Open
Change
ACCR 0.81 -15.63% -50.15% 1.63 0.96
ANET 5.87 2.09% -38.21% 9.50 5.75
ARLCF 3.00 -15.73% 20.00% 2.50 3.56
BRKT 12.56 -16.93% 6.89% 11.75 15.12
CAGI 1.13 3.67% 178.33% 0.41 1.09
CMDL 8.62 -20.26% -7.12% 9.28 10.81
DGIV 2.31 -13.81% 149.73% 0.93 2.68
DLGC 28.03 -10.65% -34.05% 42.50 31.37
ETEL 11.43 -26.54% 112.65% 5.38 15.56
FAXX 3.00 -14.29% 14.29% 2.63 3.50
FTEL 1.03 -10.43% -74.04% 3.97 1.15
HYC 8.62 -13.80% -39.51% 14.25 10.00
IDTC 16.68 -11.61% -18.13% 20.38 18.87
INTL 14.31 -4.60% -27.08% 19.63 15.00
LKON 1.37 9.60% 144.64% 0.56 1.25
LVLT 33.18 -15.18% -16.53% 39.75 39.12
NMSS 11.50 -8.00% -74.59% 45.25 12.50
NSPK 8.12 -22.67% -67.68% 25.13 10.50
NTRX 1.18 0.00% 4.89% 1.13 1.18
OZEMY 13.25 -29.78% 68.25% 7.88 18.87
QWST 29.81 -10.83% -0.84% 30.06 33.43
RMII 10.12 -27.71% 237.33% 3.00 14.00
VOCLF 8.00 -7.83% -61.21% 20.63 8.68
-12.21% 18.60%



To: Andy stupak who wrote (24425)9/2/1998 10:55:00 PM
From: Danimal  Respond to of 50264
 
Cohen, Brame & Smith - Digitcom's Nasdaq filing counsel

"They are familiar with Digitcom, having previously worked with the Company, and are devoted to making our filing as strong as possible."
- Jimmy Chin

From Cohen Brame & Smith's website located at cbspc.com

The legal and paralegal staff of Cohen Brame & Smith has a great depth of experience in a wide variety of public and private financing transactions for both domestic and foreign companies, including the ability to assist our clients in negotiating underwriting
arrangements with venture capital and investment banking firms. Cohen Brame & Smith stands ready to assist our clients, whenever possible, in establishing relationships with proven venture capital and investment banking firms with whom we have worked in the past. For example, we recently introduced one of our development stage clients to an investment banking firm which agreed to raise the bridge and mezzanine financing our client needed to complete the development of one of its state-of-the-art products. Our experience can prove invaluable to our clients in helping them determine the most appropriate type of financing based on the stage of the company's development from debt, hybrid debt, and convertible securities to the more common initial public offering of its common stock, as well as a decision as to whether the financing should be public or private. We recently helped one of the fastest growing firms on Nasdaq close a $12
million private offering to offshore mutual funds, the proceeds of which were partially used to acquire two companies in related businesses. Our paralegal staff, working directly under the supervision of the securities lawyers, will efficiently assist our clients in assuring full compliance with the blue sky laws of all 50 states and the District of Columbia, including registration and applications for exemptions. Once a client has "gone public," Cohen Brame & Smith will assist that client in establishing systems to assure accurate and timely SEC reporting. We can draft and transmit all periodic reports using the SEC's new EDGAR system. Additionally, as a result of our experience with the "short swing" and "insider trading" rules and regulations, we can assist a client's staff in establishing systems to avoid running afoul of these complex regulations.
In summary, we stand prepared to assist a company from the date of its incorporation through the initial capital formation and public offerings, and once it is subject to the reporting requirements mandated by the SEC, we can either handle all of the company's reporting requirements on its behalf or assist its in house staff with SEC compliance.
Cohen Brame & Smith's securities team is led by Roger V. Davidson and includes Roger C. Cohen, Andrew L. Pidcock, John D. Tishler and Dwight R. Landes.

Of course, there are other ways to get on Nasdaq...