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Microcap & Penny Stocks : Quest Net Corp. (OTCBB: QNET) -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Guenther who wrote (59)	1/5/1999 4:31:00 PM
From: Thomas Guenther	Read Replies (1) \| Respond to of 213

Well, I was right about the restriction. Can anyone translate this to interpret how it applies to those who bought shares recently, as opposed to 1+ or 2+ years ago? Quest Net Corp. Clarifies Information On 3 for 1 Stock Dividend BusinessWire, Tuesday, January 05, 1999 at 15:43 FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Jan. 5, 1999--Quest Net Corp. announced on January 4, 1999 that the Company has declared a 3 for 1 stock dividend to shareholders of record on January 6, 1999. Due to the numerous calls received with regard to the stock dividend, the Company has issued this press release in order to answer the most frequently asked questions. Shareholders will receive 3 shares for every one share held of record on January 6, 1999. The shares issued pursuant to the dividend will be restricted shares that can only be resold pursuant to an effective registration statement or pursuant to Rule 144 or another exemption. Rule 144 (d)(3)(1) provides that securities acquired from the issuer as a dividend shall be deemed to have been acquired at the same time as the securities on which the dividend was paid. Shareholders who provide an Opinion of Counsel stating that the initial securities have been held for at least two years may have the restrictive legend removed pursuant to Rule 144 (k) and will be issued new shares without restriction. Shareholders who have held the initial securities for at least one year may resell the dividend shares pursuant to Rule l44 (e)(f)(g)(h) and (i). An opinion of counsel will also be needed. If you are unsure as to compliance with Rule 144, please discuss this with your broker or securities attorney. Shares that are held in street name, such as CEDE & Co. will be distributed to that company, who will be responsible for distribution to holder's accounts. Shares that are held individually will be distributed to that individual by the Company to the address listed on the Company's Shareholder records. The issuance of additional shares will not dilute the percentage of shares held by each shareholder since the distribution is pro rata. The market price of the Company's common stock will not be reduced due to the dividend, as it would have been if the Company had declared a stock split. The market price of the stock will rise or fall due to natural market forces. Based in Fort Lauderdale, Fla., Quest Net (OTC BB:QNET) operates its own OC-12 (622Mbps) fiber optic self-healing SMARTRing backbone running from Key West to Sebastian, Fla. Quest Net is a provider of secure, full-service global Internet and Intranet broadband digital networking solutions for businesses and individuals. It also has its own Frame Relay 45Mbps connection into the Internet Cloud. Quest Net is one of the largest regional Internet Service Providers with Dialup POPs (point-of-presence) in 228 cities and over 2,000 clients, mostly small businesses. It also offers dedicated high-speed Internet access, metropolitan and wide area network data transport services, including virtual private networks, to several commercial clients and other ISP's, and Wireless Internet Connection at a speed of up to 3 Mbps to a distance of 8 miles on a license free spectrum. Quest Net offers one of the fastest and cleanest routing systems for the transfer and delivery of voice, video and data streams at speeds ranging from 64 Kbps to 155 Mbps (OC-3), as well as frame relay connections at speeds up to 45 Mbps. This press release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties. CONTACT: Quest Net Corp., Fort Lauderdale Robert Leff, 954/567-1008 Email: Info@ipquest.com KEYWORD: FLORIDA INDUSTRY KEYWORD: COMED TELECOMMUNICATIONS INTERACTIVE/MULTIMEDIA/INTERNET DIVIDEND Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 1999, Business Wire