Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : XSNI - X-Stream Network -- Ignore unavailable to you. Want to Upgrade?

To: DablocTrader who wrote (108)	5/8/1999 10:53:00 AM
From: Jacalyn Deaner	Respond to of 3519

I don't know what is going on but I sent an email to the firm, will call Monday morning and left the following post to the fella from England. Enjoy the weekend everyone. Jacalyn Hi Jon, thanks for the number, I shall call Monday morning; this date, I sent an email to the company asking for an explanation on their share disbursements; ie. preferred and common. You see, when the company filed the paperwork with the US, they filed to be placed on the OTCBB, and I would think that they have attorneys and such to comprehend and realize that what they are signing are legally binding documents - worth the piece of paper written on. So, in light of that, shares have been traded since early March 1999 based on the documentation and authroization received by the SEC; the company only authorized COMMON SHARES in this market, in accordance with the documents filed in the United States, and that there are some ? million shares available in the float. So the specifics were filled out. As for brokerage houses managing this transaction, the company has been extremely tight with divulging information in this country. I have read all the news publications in the British press, however trying to get financials on this firm is a well kept secret and evidently not too public nor accessible. One of the advantages of being OTCBB is they don't have to provide scrutinized reports to the SEC and aren't very regulated by the SEC. There has to be a reason the company XSNI filed the application for the OTCBB - knowingly or ignorance. And ignorance is no excuse to obeying or knowing the law, particularly in the profesional's field of practice. I would like to believe Robert Manning is aware of what he is directing and hires people who are capable of doing the job. I am providing a link to the OTCBB that lists some of the market maker firms that are dealing with this stock issue (selling and buying) otcbb.com I will respond on the board when I hear from the company. By the way, Jon, what shares do they advertise as outstanding, in the float, etc that are available in England? Also, do you have their latest quarterly report? You see they have had the opportunity to be active in the US since November 1998, and are still "secretive" - the only board they can act like that is the OTCBB in the United States. Any insight you can offer will be greatly appreciated. Sincerely, Jacalyn

To: DablocTrader who wrote (108)	5/8/1999 11:17:00 AM
From: Jacalyn Deaner	Respond to of 3519

What happens when an OTCBB company wants to go big board - they have to apply to the SEC and they have to substantiate a price above $5.00 for a period of about two weeks. XSNI filed the wrong paperwork and got on the OTCBB board for pennies - no one took notice of "another penny". Hence no movement, and slow movement through April 29, 1999; now the initiation to get placed on the NASD has begun by hitting 5 dollars. NOW their application to be on the big board will be looked at and that will take about 4 - 6 weeks to get acted upon. In the meantime, the run will ensue as this company is worth x-tremely much more than 5 dollars. IMO, holders of the shares are in a great position, and somebody big knows it. Good luck all. There are SEC rules and regs tht have to be followed once a company has been listed - they are not "company specific" nor bent to accomodate one company over another. The rules are once you are on OTCBB you have to accomplish several goals to be listed on the other big boards. Dabloc, you have been trading for over 20 years, what is your take? Thanks for any other input. Jacalyn