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Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar) -- Ignore unavailable to you. Want to Upgrade?

To: Goldy who wrote (921)	4/18/1999 5:23:00 PM
From: David Lucatch	Read Replies (1) \| Respond to of 974

I have been patiently sitting on the sidelines reading the thread, and although I welcome a healthy discussion with respect to the validity of VNE, its Directors, suppliers and even other shareholders, as well as other Junior Internet Stocks, I believe it is time I again offered to speak directly with Investors about matters. Firstly, it is important to understand that rules do not permit my involvement, nor other Directors, employees, consultants, etc. in discussions regarding non disclosed information, forward looking applications and other various matters that would give individual investors or select groups an advantage for investment purposes. Secondly, I do not want to take anything away from an open forum discussion such as this thread. However, I also do not want certain individuals twisting legitimate information for their own purposes. Thirdly, Valu-net follows the rules and regulations set by The Alberta Stock Exchange for the operation of a public company. All financing matters are approved in advance by the Exchange. Additionally, all interim and year end reports are filed with all parties as required. Fourth, our last offer for a conference call was cancelled because only two (2) Toronto brokers offered to be on the phone call. No SI investors responded to the call for discussion. Fifth, our phone number, web address and office address is public record and every investor has the opportunity to call me directly for legitimate discussion purposes. Our staff (yes we have full time staff other than myself) is prepared to send out information packages, reports and any other public material. Our phone number is 1-800-558-9069, or local to the Greater Toronto Area (905) 474-5100, our web address is www.vncorp.com Sixth, about certain individual's comments regarding the status of the company, our payments and other information. This type of discussion group allows individuals to hide behind anonymous names to try and manipulate information for their own purposes. I've always been of the opinion that you can't believe everything you read, so that's why I have offered my phone number. I will be travelling later this week for a period of 12 days. I will out of country and not able to adequately respond to postings and calls. My assistant will log any phone calls and I will respond upon my return. Additionally, I do not want to interfere with the orderly operation of the thread or those that contribute. I also do not want to have my name and the company's interests unjustly smeared by misinformation. For those that feel that they have something to legitimately contribute, I wish you well and look forward to speaking with you. To those that have a problem with our company, I welcome your call even more as this will give us a chance to discuss matters that may contribute to the long term success of the company. I will refrain from further posting unless necessary as I have made myself and my contact information public. Thank you David Lucatch President & CEO - Valu-net Corporation

To: Goldy who wrote (921)	4/18/1999 8:39:00 PM
From: Ian@SI	Respond to of 974

Goldy, As I've repeatedly stated, any facts I've mentioned in my posts have been extracted from VNE's filings on SEDAR ( sedar.com )or from the Vancouver newspapers. The $100K stuff came from the most recent financial statement, note 9. Clearly, a much more lucid explanation is owed the shareholders. It's not as if VNE was like MSFT where $200K wouldn't even count as a rounding error. In full, it reads, 9. RELATED PARTY TRANSACTIONS During the year, the Company and its subsidiaries bought merchandise from a company owned by the wife of a principal shareholder totalling $100,014 and additional products from another corporation owned by a director in the amount of $104,117. At the end of the year, $96,911 was owing to such companies and is recorded as part of accounts payable. I've further questioned whether or not VNE may be forced into bankruptcy. That concern comes from note number 11 of the same filing. 11. CONTINGENCIES The Company and its subsidiaries are contingently liable under contested lawsuits amounting to approximately $2,750,000. Management will vigorously contest the lawsuits as they feel there is no merit to these claims and will file a counter claim for an amount not yet finalized for damages resulting from breach of contract. Included in the counter claim will be an amount for approximately $2,000,000 representing sales transactions to the company for which a full provision for doubtful account has been taken. If you don't have MS WORD on your PC, you can download a free WORD viewer from the MSFT website and view the complete filing yourself. May I assure you, I've been quite kind to VNE so far. There's far worse sitting in that financial statement. Ian.