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OTC Journal
August 9, 1999	Volume II, Issue 34

Email : info@otcjournal.com
URL : http://www.otcjournal.com

To OTC Journal Members:

Today after the market closed, our parent company, 1st Net Technologies (OTC BB: FNTT) released its 1st Quarter financial results. Prior to going into those numbers, let's review one situation that we are very excited about.

First, our long awaited Day Trading section on our Home Page is live. We now have what we believe to be the premier newsletter writer in the country for Day Trading and Swing Trading ideas contributing. We recommend that you go to this section several times daily for ideas and outstanding market commentary.

Secondly, take a look at NetSol International (OTC BB: NTWK), our January profile. Despite that fact that the market has been a bloodbath of red ink for the last several weeks, this stock is now trading at an all time high since the release of our original profile. It is trading 40% above the level at which we released our original profile in January, and 162% above the low since January.

We challenge any of our members to show us a publicly traded technology company that is trading at an all time high for 1999 levels. We brought this company to you, and any investors in our membership that have picked up this stock are making money in a difficult market environment.

Moreover, since we originally released the profile on this Company back in January, we have provided 16 updates and news releases. This situation proves the importance of having a medium to long term outlook on investing in these micro cap stocks.

1st Net First Quarter Financial Performance

Today after the stock market closed 1st Net (OTC BB: FNTT) announced first quarter financial results. As always, we remind you that 1st Net is the parent company of SSP Management, the owner of this newsletter. Therefore, you should view anything we say about 1st Net as being self-serving and a conflict of interest.

1st Net's first quarter revenues came in at $768,000, a 240% increase over the same period the previous year. Moreover, sales were 58% of the total revenues generated by the Company in all of 1998, suggesting a very high growth rate.

In addition to the substantial growth rate in sales, 1st Net actually made a profit in the first quarter of $34,618. The word "profit" and Internet Company are not often heard in the same sentence (ie: AMZN, EBAY,ABTL).

The management of 1st Net has always focused on bringing in a revenue stream which is helping the Company develop and deploy its new and exciting Internet Technologies. To learn more about 1st Net, visit their web site at www.1stnettech.com. You can also sign the company's mailing list for automatic e-mail updates on Corporate Developments. Click Here to sign up for 1st Net's mailings.

Here is the complete text of the press release for your benefit:

Contact: Jeff Chatfield
Phone: 858-675-4449
Fax: 858-675-4443
Press Release

Highest Quarterly Revenues in Company History Announced by 1st Net Technologies
First quarter earnings are over 58 percent of 1998 total revenues

SAN DIEGO, August 10, 1999-1st Net Technologies, Inc. (OTC BB: FNTT) today reported audited financial results for the first quarter ending March 31, 1999. Total revenues for the quarter were $768,000, a dramatic increase of 240 percent from $320,000 for the first quarter of 1998.

In first quarter 1999, 1st Net saw continued growth in both its Internet products and services offerings, including consumer to business e-commerce solutions, financial and investment portals, and in its bundled online investor relations solutions for publicly traded companies.
“In the first quarter of 1999, we achieved the equivalent of 58 percent of our entire previous year’s revenues,” said Clifford J. Smith, President of 1st Net Technologies. “We’re extremely pleased about the significant growth and increased shareholder value this represents.”
Net income of $34,618 decreased 67 percent from net income in first quarter 1998 of $127,423. Assets increased to approximately $2.1 million, up 191 percent from $1.1 million for the second quarter of 1998.

“Our first quarter results validates our overall business strategy,” said Larry K. Kimball, Chief Financial Officer of 1st Net. “1st Net’s overall performance lays a solid foundation for the company’s continued growth.”

These earnings reports do not reflect a series of significant news announcements regarding several sophisticated Internet initiatives and strategic marketing agreements underway with Nicklebys.com, MediQuik, No Fear, and Netsol. These strategic agreements should generate substantial revenue streams for 1st Net Technologies in upcoming quarters.

About 1st Net Technologies, Inc.:

1st Net Technologies, Inc. is a diversified Internet design, creation, and hosting company specializing in on-line investor relations programs, IP telephony, database capture and information management software, and server-based community browsers using proprietary Content-Based Routing and Delivery systems to send specific content to various affinity groups. The company owns and operates several financial investment portals and a financial on-line community website. 1st Net is publicly traded (OTC BB: FNTT) and located on the web at www.1stnettech.com.

Note: News releases and other information on 1ST NET TECHNOLOGIES, INC. can be accessed at http://www.1stnettech.com on the Internet
The foregoing press release may include numerous forward-looking statements concerning the Company’s business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited “safe harbor” for certain forward-looking statements. Forward-looking statements in this press release relating to product development, business prospects and development of a commercial market for technological advances are based on the company’s current expectations. The company’s current expectations are subject to all of the uncertainties and risks customarily associated with new business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company’s actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.

-END-

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The OTCjournal.com Newsletter is an independent electronic publication committed to providing our readers with factual information on selected publicly traded companies. All companies are chosen on the basis of certain financial analysis and other pertinent criteria with a view toward maximizing the upside potential for investors while minimizing the downside risk, whenever possible. All statements and expressions are the sole opinions of the editors and are subject to change without notice. This profile is neither an offer nor solicitation to buy or sell any securities mentioned. This newsletter is owned by SSP Management, Inc, a wholly owned subsidiary of 1st Net Technologies, Inc ("1st Net"). While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. The editor, members of the editor's family, and/or entities with which they are affiliated, may own stock in and have other financial dealings with the companies who appear in the publication. To that degree, this newsletter should not be regarded to be an independent publication. The OTCjournal.com critiques may contain forward looking statements relating to the expected capabilities of the companies mentioned herein.

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