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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: m33806 who wrote (1247)	12/16/1998 8:56:00 PM
From: Yamakita	Read Replies (2) \| Respond to of 30916

This from a long-time bull on the Yahoo board: ~~~~~ I just returned from the meeting and will give a somewhat short recap, because dinner is almost ready. The meeting came off without a hitch. All shareholder resolutions were passed and there was no negative news released or discussed with the exception that one shareholder inquired if IDT had any liability for late share registration. IDT's lawfirm answered no. Howard Jonas gave a report. He started by saying he really couldn't release anything at the meeting that had not been made public. However, apparently there is a HUGE prepaid calling card deal in the works with a major consumer goods company involving co branding. This deal will be signed within days and the impression I got was that is was big. Really big Howard spoke about the spinoff, stating that net2phone currently was the dominate player in the market and controlled over 90% of the market. He said they were working non stop on this. In fact Howie Balter could not attend the meeting because he was negotiating with underwriters. He said net2phone and their ISP (which is the 10th largest in the Country) were probably valueable in excess of the current total valuation of the company as it is currently structured. This is a high priority but no announcements will be made today but will be shortly. He also said there was an offer on the table for net2phone and the isp from a large multinational firm, but that they were leaning towards the ipo or maybe a combination. Again, my impression was that this was happening quickly and would be disclosed shortly. IDT is purchasing a lot of fiber. We have moved away from leasing and are now buying fiber. We now have a fully functional gateway in London and in the next six months will have gateways in Paris, Germany, Frankfurt, Viena and Austria and a complete fiber network to all these places by undersea lines. Also that we will have fibersonic networks in Los Angeles, Miami and Dallas. We are switching our ISP from an IP network to ATM. Satellite side. Although the locations are confidential. We can reach anywhere in the world. We are also looking at doing some of our own fiber build out. We are switching from Nortel switches to EXEL. This represents a 70% cost savings with a better modular system that is geographicly distributed in parts. Other advantage is it knocks several months off of deployment. They may also spin off this division as well. In conversations I was able to have after the meeting with various individuals I was able to determine the following. 1. Howard Jonas did keep his shares in inventory at his brokerage house. A letter was sent to them today requesting physical possession of them and instructing them to no longer make them available in inventory. THAT is a very big deal as it will reduce the float and increase the share price. 2. The spin off is occuring without a doubt. The company has already pretty much determined which employees will go with the net2phone division. Organisational charts are done etc. They even now have them housed in a seperate building. 3. We can expect a nice piece of internet news tomorrow. I toured all buildings and observed hundreds of people hard at work behind hundreds of computor terminals. There is no doubt in my mind that IDT is well positioned and that management is acting to increase shareholder value. One last thing. Jim Courter and Howard Jonas spoke about how the stock was undervalued due to the sector climate and schizophrenia over wheter we are a phone company or internet company. THAT, will be resolved soon and I think both will prosper. There are several other deals in the works with large financial institutions to use our platform as theirs for communications