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Microcap & Penny Stocks : IBUI - AUCTION WEB SITE -- Ignore unavailable to you. Want to Upgrade?

To: ilh1 who wrote (4)	3/12/1999 9:11:00 PM
From: Norms	Read Replies (1) \| Respond to of 375

Prosperous - Good to see you. Here is a little more DD on IBUI - especially the share count which is 20 million. Trades like it has much less. Hopes this clears things up for you and everyone else. *********************************************************************************** To: Wayne Rumball (2540 ) From: lightfoot Friday, Mar 12 1999 8:05PM ET Reply # of 2557 IBUI, just got my return call from Al Reda the CEO. Confirmed the following numbers! Shares outstanding 170,000,000 Shares in the float 20,000,000 No outstanding warrants He was not involved in the previous company, and is new to IBUI as of the name change into the new company. I asked him about # of employees, no specific answer, mentioned subcontractors/owners. When I asked about the gap in the SEC filings, he said past SEC filings are done and should be showing up on Edgar soon. Current quarter ends in March and will be filed with the SEC. He did say that it would show some cash on hand. I asked him about the acquisitions that are mentioned on the website, what type of areas they were looking into, and how they would be financed. He said they are looking into some things but was very vague. He would not say anything about the number of majority owners or how many shares were locked up. When asked about what type of revenue model they were looking at for the auction site he said they were still discussing their options and no decision has been made. When I asked about revenue sources & amounts he declined to comment and said to watch for the latest SEC filings. I also asked him about their plans to keep investors informed and he said they were planing on updating the website weekly and they would not be hiring a PR firm. He then said he had another call and had to go! He was upbeat, but not very informative. I'm not sure what I was expecting from a CEO that has just seen his company go from a market cap of $21 mil to $127.5 mil in one day on the announcement of a beta auction web site. He was surprised at the move in the stock today and was aware of SI and Yahoo, saying only that he reads them occasionally but does not post. The website is located at the following URL! inbusin.com This will be on my screen for next week to see how it trades. It certainly didn't trade like 20 million in the float.