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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: Tomato Man who wrote (8521)	12/3/1998 2:35:00 PM
From: coolhandluke	Respond to of 15313

I got my proxie from ETRADE today.

To: Tomato Man who wrote (8521)	12/3/1998 2:51:00 PM
From: Michael Baron	Read Replies (1) \| Respond to of 15313

Dear T-man, I for one am very leery of the issuance of an equal number of shares as are now existent. Plus another million preferred, without knowing what the skinny is on the benefits that go along with "preferred" status. In response to MS's answer posted on RB, I certainly expect assets will be gained for the shares exchanged, but this begs the question: will revenues be produced from those assets? So we have a higher book value? So far, in the absence of news, revenue and client info is lacking, and this is with the first 25 mil in the IPO. What assurance is there that another 25 mil issued will produce results that the first 25 mil didn't? I know the company is very different now than at IPO time, and I am glad to see that, but isn't it time to report on what the initial capitalization is producing in revenues and client base, before holding out the hat (that hat again, LOL) for a new round of funding? This info, as Peep says, should be freely given to the owners of the company, US, before we are asked to (possibly) take a 50% whack on our existing positions. To become a reporting company, don't the shares have to be worth $5? That's 50 million X $5/share. One quarter of a billion. Seems like the grade just got twice a steep on the road to the big board... Yes, I trust them. Yes, I think they've got a great idea. Yes, the potential is there. Yes, they have powerful, smart people on the Board. BUT, do I wish I was a new guy just getting into FNTN next spring or fall, with a float of ±40 million, a reporting company showing revenues, maybe profits, a client list, and a real presence based on performance? Even if the share price was over $4, say $10, I, as an investor, would have a much better handle on where this company was going than now, with all the startup heartache and lack of ANY significant news that affects the bottom line. My bottom line... All the best, M. ps. I use DLJdirect, and emailed them. So far, nada.