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To: KZAP who wrote (240)	11/13/1998 12:17:00 PM
From: Lee Walsh	Respond to of 3351

We just Broke $3.00 !!!!! Me thinks the shorts are starting to sweat :) Lee

To: KZAP who wrote (240)	11/13/1998 12:53:00 PM
From: Howard C.	Read Replies (1) \| Respond to of 3351

Just checked, it's still there...but here's an excert anyway, the last paragraph will be directly applicable to our situation: 1,200 percent gain for ADSL stock Net stocks jump again, but tiny AvTel steals the show By Bob Sullivan MSNBC Nov. 12 — Let's put this in perspective. Say last night, on a whim, you invested $10,000 in thinly-traded AvTel Communications Inc. at 2 1/4 a share. Tonight those shares would be worth about $127,000, after the stock closed at 31. The reason: AvTel announced it's offering high speed Internet access in downtown Santa Barbara. Wall Street Watch bulletin board Nasdaq Combined Composite Index (COMP) level change 1,852.57 +1.51 Data: Microsoft Investor and S&P Comstock HERE'S THE STORY on AvTel, which before today rarely had trading volume in 5 digits. The California company with annual revenues of $34 million specializes in data and telcomunications for small and mid-sized companies. But today, it announced the launch of an ADSL service called DSlink. ADSL allows high-speed Internet access over traditional phone lines. AvTel's service is currently available only in downtown Santa Barbara. Deployment through Goleta and Carpinteria is due by the end of November. Todd Greene, AvTel's vice president, said the service currently passes 12,000 homes and businesses, and he wouldn't describe how ambitous expansion plans are or what kind of revenue AvTel expected from its ADSL business. He said he couldn't comment on the stock's run-up, and that the ADSL press release announcement which apparently created all the furor on Wall Street was really targeted at the Southern California business wire. “As part of the business wire, they released on national wires,” he said. AvTel Communications, Inc. (AVCO) price change $31.00 unch Data: Microsoft Investor and S&P Comstock 20 min.delay The announcement was, well, well-received on Wall Street. Yesterday, 1,700 shares of AvTel changed hands. Today, 3.6 million shares changed hands as the stock shot up 28 3/4, about 20 of that in the last half-hour of the session. A look at AvTel trading for the day reveals an end-of-day panic typical of a short squeeze. In the last 15 minutes of the trading day, as short-sellers scrambled to cover their positions, the stock rocketed from 17 to 31.