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

To: ztect who wrote (957)	11/15/1998 11:59:00 AM
From: ztect	Respond to of 1754

COMPLETE AND UNEDITED RESPONSES TO QUESTIONS (as promised) within eighteen hrs on a weekend! First of all, thanks for your support. Those that I can, I'll answer right away. If I don't know the answer I'll get it from my partner who is already at Comdex. Sorry it took so long to respond but I just got back from Europe and then I'm going to Comdex. Probably we will be accused of taking the treasury for gambling purposes. ztect wrote: > > Mr. Kraft: > > When time permits, may you please address the following questions- > > 1. On March 30, Heritage Ventures (HVLA), under their CFO and current PINC > board member Silvio Forigo, announced they had secured the rights to market > the Millennium Bug Compliant Kit (MBCK). > > a. Did PINC acquire these rights from HVLA, and is that why Forigo is a > board member of PINC. Silvio was a principal of the company from its outset. When he and Rudy first started this venture they needed capital to secure the rights. HVLA had some working capital and for the Canadian rights a small amount of cash was sent to Australia to secure the rights that were then negotiated. When PINC became a public company it was felt that it would be better forall of our shareholders if we obtained those rights. So, for a small amount of cash and stock ( I think $25,000 Cdn - $16.000 US, and 50,000 PINC shares???) we got the rights back. I'm sure that all of that was reported in our financials so how come these guys who do extreme DD don't know about it? > b. Did PINC's acquisition of HVLA's rights adversely effect HVLA's share > price which is now halted due to "accounting" irregularities? No!!!! Had nothing to do with PINC. We have absolutely NOTHING to do with HVLA, other then a common director. > > c. Why is there no formal announcement of PINC's acquisition of these rights I thought that we put out A release on that. I'll check. > if they were obtained? If they weren't obtained, do both companies have > rights? (Since I have read claims of "exclusive" worldwide rights, it is > confusing that no announcement was made of this acquisition). Plus when and > from whom were the rights obtained from for Australia and Asia? (Prior > announcements excluded these regions). > We did not put out a NR on the total aquisition[sic]. The chronollagy [sic]went 1) NA, SA, and partial European rights, 2) world-wide rights exclusive of Australia and SE Asia, and then 2 months ago world-wide rights. Part of the reason that we didn't put out all of these news releases is that they cost between $300 - $1000 each. > d. If you did acquire rights to Canada from HVLA, do you know how many > copies of MBCK a month that HVLA was selling during the time that HVLA had > the rights? Does Mr. Forigo know? They did not even attempt to sell the product other then to assist in negotiating with AOL (Canada). > > 2. How much did PINC have to pay MSS in stock and cash to acquire the rights > to the MBCK? Answered. > > 3. Re, the agreement with Pacific Dynamics: "According to company sources, > this agreement is a firm commitment from Pacific Dynamics whereby Pacific > Dynamics shall pay for any of the 50,000 units not distributed during the > four month term of this contract. Pacific Dynamics is committed to > distributing 5,000 units during the month of October, 10,000 units during > the month of November, 15,000 units during the month of December, and 20,000 > units during the month of January." > > a. Since October is over, do you have a sales report back yet from Pacific > Dynamics? Were targets met ie. did Pacific Dynamics indeed sell and pay for > 5,000 units (for $39.95 or $49.95 or thereabouts)? My understanding is that Pac. Dyn. is meeting us at Comdex with a check for the first installment. > > b. How much does Pacific Dynamics have to pay per unit they don't sell after > four months? My understanding is full price. WHICH IS NOBODY'S BUSINESS AS TO EXACTLY WHAT WE NEGOTIATED WITH THEM FOR. > 4. Per 7/17/98 Press release a deal for 10,000 units was announced. > > "...More significantly, the company has received an order for 10,000 units > of its Millennium Bug Kit...." > > What ever became of this agreement? Can the terms of this agreement be > announced finally in November specifically as to who made this order? > Can't remember what this referred to and too tired to look it up. However, we have not received any payment for that contract that I know about. > 5. Per 9/22/98 Press release..... > > "...The MBCK was exceptionally well received at the Comdex Show for Latin > America in Miami last week. The product was successfully demonstrated to > representatives of major South American corporations. Significant sales > agreements are expected within a few weeks from contacts made at the > show..." > As you may figure, it takes a lot of time to negotiate with foreign countries in a language not English > Have any "significant sales agreements" been made? If so what are the status > and terms of these agreements? Can these agreements be announced? If not > now...at least soon?