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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: LANCE B who wrote (5013)	2/8/1999 2:06:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 11130

buying HSNS on the following news. Don't trust the company, but I expect more hype news coming: High Speed Net Solutions Insiders Cancel 36.14% Of Outstanding Shares Issued [.17136] /FROM PR NEWSWIRE MIAMI 305-461-8666/ TO BUSINESS EDITOR: High Speed Net Solutions Insiders Cancel 36.14% Of Outstanding Shares Issued DAYTONA BEACH, Fla., Feb. 8 /PRNewswire/ -- High Speed Net Solutions, Inc. (OTC Bulletin Board: HSNS) announced today that insiders agreed to retire 36.14% of the company's outstanding shares. President Michael Cimino commented, "This will add value to shareholders currently in the float, and reduces the total shares issued from 17,546,599 to 10,940,974." For further information contact Michael Cimino at mcimino@hsns.com, or 904-212-0878. SOURCE High Speed Net Solutions, Inc. /CONTACT: Michael Cimino of High Speed Net Solutions, Inc., 904-212-0878,or e-mail, mcimino@hsns.com/ /Web site: hsns.com Feb-08-1999 07:10 GMT Symbols: US;HSNS Source PRN PR NewsWire Categories: NWR/FL NWI/MLM

To: LANCE B who wrote (5013)	2/8/1999 2:09:00 PM
From: Kimberly Lee	Respond to of 11130

HSNS also releases the following news on Friday: [B] High Speed Net Solutions adds another $1 mln stake in Summus [.18962] By Bridge News New York--Feb 5--High Speed Net Solutions said it has acquired an additional $1 million stake in Summus without increasing the number of outstanding shares, bringing the total value of its stake to $3.8 million, representing 14% of Summus common stock. HSNS said it has also contracted for the right to acquire an additional 6% of the company's stock within the next year. * * * The following is the text of today's announcement with emphasis added by Bridge News. BridgeStation links to company data have been inserted at the end: DAYTONA BEACH, Fla., Feb. 5 /PRNewswire/ -- TODAY, INSIDERS RETIRED SHARES IN ORDER TO ACQUIRE AN ADDITIONAL $1,000,050,000 STAKE IN SUMMUS WITHOUT INCREASING THE OUTSTANDING SHARES. THE DOLLAR VALUE OF THE SUMMUS STOCK NOW OWNED BY HIGH SPEED NET SOLUTIONS (OTC BULLETIN BOARD: HSNS) (AS DETERMINED BY THE ORIGINAL CASH PURCHASE PRICE PAID INTO AND RECEIVED BY SUMMUS FOR THESE SHARES) IS $3,775,000 AND REPRESENTS 14% OF SUMMUS COMMON STOCK. PRIOR TO THIS TRANSACTION, HSNS OWNED 12% OF THE SUMMUS STOCK. HSNS HAS ALSO CONTRACTED FOR THE RIGHT TO ACQUIRE AN ADDITIONAL 6% OF SUMMUS IN THE NEXT 12 MONTHS, WHICH WOULD BRING THE COMPANY'S TOTAL OWNERSHIP INTEREST TO 20.64%. The asset will be reflected in the updated Balance Sheet in conjunction with the audit currently being done for the purposes of HSNS filing its Form 10 registration. Dr. Jawerth, Summus' Chairman and a founder of wavelet theory, will be conducting interviews next week during his visit to New York City on February 10 and 11. To arrange a media interview with Dr. Jawerth or a preview of the technology contact Michael Cimino, President of High Speed Net Solutions at 904-212-0878. End R/US I/TEL CAP/STOCKS CAP/INDEX MR/NEWS