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 : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: DayTraderKidd who wrote (12673)	6/2/1999 11:36:00 AM
From: Keith Sherwood	Read Replies (1) \| Respond to of 15313

Changes in SB-2/A filed 6/1/99: I have just started to review the amended SB-2/A filing that was submitted yesterday. From my limited review, it looks like the two main changes are the following: 1) Increase in Shares of Common Stock being registered for resale from 692,994 to 1,592,994. This offsets the reduction in the Shares of Common Stock underlying convertible Promissory Notes, which is reduced from 6,075,000 to 5,175,000. I assume this means that a holder of the promissory notes converted into shares from the time the original SB-2/A was filed. This increases the Securities Outstanding Prior to the Offering from 22,724,282 shares to 23,624,292. 2) 1st Quarter 1999 now included in the Management's Discussion and Analysis of Financial Condition. I have cut and paste the 1Q 1999 comments into a Microsoft Word file. If anyone is interested in this, send me a PM with your email address, and I will forward. It is not exactly inspiring, but worthwhile reading. For example: Quarter Ended March 31, 1999 Compared with Quarter Ended March 31, 1998 (unaudited) Revenue Our principal source of revenue was income from the resale of telephone and data communication. Revenue for the quarter ended March 31, 1999 were $6,741 after a deduction for credits of $3,200 issued to a customer, as compared with $35,931 in the prior year. The lower revenue is a timing difference attributable to switching telecommunications carriers during the quarter ended March 31, 1999. This revenue will be billed in the second quarter. All for now, more later as time allows. Regards, Keith