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To: rodney beasley who wrote (54825)	2/11/1999 1:50:00 PM
From: Jules	Respond to of 119973

Found this interesting...volume is up lots of buyers>> Frederick Brewing ponders merger or sale Frederick, Md., Feb 11 (Reuters) - Frederick Brewing Co., one of the first U.S. producers of beer made from hemp, said Thursday it is considering selling or merging the company but denied rumors a large beer maker has expressed interest. The company, which also reported a 68 percent rise in revenues for the year, added it has filed for a 1-for-10 reverse stock split and has terminated a deal to export beer to China and postponed plans to ship to Canada. The largest brewer of craft beers in the Mid-Atlantic, Frederick said it is currently negotiating with several parties about strategic options, including possible mergers, acquisitions or a sale. ''We have had discussions with several parties, some of which are on-going, but no concrete proposals have been presented to us,'' chief executive Kevin Brannon said in a statement. ''Rumors of a transaction involving an investment or purchase by a large brewer are inaccurate.'' Brannon said the company has hired Westfinance Corp. to evaluate strategic options as well refinance debt and raise additional equity capital. To help meet those goals, Frederick said Thursday it has increased the ratio of a previously announced proposed reverse stock split, to 1:10 from 1:5. The reverse split was initially announced in an effort to prevent the company's shares from being delisted by Nasdaq. Nasdaq notified the company in the fall that it faced delisting unless the company achieved a minimum bid price of $1 for its stock. Frederick Brewing shares closed Wednesday at 22 cents. A shareholder vote on the split is tentatively scheduled for March 23. Chief operating officer Marjorie McGinnis also confirmed the company has terminated a deal to export beer under contract to China because of poor market conditions there. She said that a planned expansion of distribution in Canada have also been put on hold because of ''disappointing'' fourth quarter results in Ontario. The company, which said it had arranged to refinance the $2.6 million mortgage loan on its brewing site at a lower interest rate and with less restrictive covenants, said it expects to report its financial results in two weeks. On Thursday it posted sales for the quarter as well for the year-end. Gross revenues were up 68 percent to $5.5 million for the year and sales volumes were up by 81 percent to 31,464 barrels. The company attributed the growth primarily to sales of its Wild Goose and Brimstone brands, which helped off-set a decline in sales in remote markets of other brands, particularly Hempen Ale and Hempen Gold. Hemp is a cousin of the marijuana plant, but the federal government requires that hemp seeds used to make beer must be free of the narcotic agent found in marijuana.

To: rodney beasley who wrote (54825)	2/11/1999 1:50:00 PM
From: Frost Byte	Read Replies (1) \| Respond to of 119973

PCNTF news to hit Reuters...blowout earnings to be announced. Pacific Internet Expects Profit in 4th Qtr to Exceed S$4 Mln Singapore, Feb. 11 (Bloomberg) -- Pacific Internet Ltd., which last week became Asia's first Internet-related company to trade in the U.S., expects profits in its fourth quarter to exceed the S$4 million ($2.4 million) it chalked up in the third. ''In Asia, the Internet penetration is actually very low (and) the opportunity for growth is very high,'' Chief Executive Nicholas Lee said in an interview. The final quarter's profit will give PacNet its first full- year profit in at least four years. PacNet, a unit of one of Singapore's biggest industrial groups, SembCorp Industries Ltd., started trading its shares in the U.S. Friday. Its shares rose more than five times its offer price of $17 a share in the first hours of trading. It rose 5 1/2 to 35 Wednesday. Lee said PacNet -- one of the three Internet service providers in Singapore -- expects business to continue to expand in spite of Asia's economic turmoil as more companies turn to the Internet for a cheaper way to communicate. PacNet plans to expand into India and Australia this year, either through acquisitions or setting up new companies. Taiwan, South Korea and China will follow. It has Internet operations in Hong Kong and Philippines and Singapore.