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OTC Journal Newsletter
June 25, 1999	Volume II, Issue 27

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

To OTC Journal Members:

Congratulations to our members who took our update on US Microbics seriously on Tuesday. At the time the stock was offered at $3.25. Today, it closed at $3.94 bid, $4.06 offer for a 23% return on invested capital in only three days. We try to bring you important information on our client companies at a time when the stocks are trading in a favorable entry level range. Right now, Engineering Power (OTC BB: EGPDF) and NetSol International (OTC BB: NTWK) are probably trading at excellent entry levels. For information on both of these companies, go to the Profile Archives section you can find at our home page.

This past week there were several news releases from our parent company, 1st Net Technologies (OTC BB: FNTT). Those members that have been following the company know that 1st Net has been developing numerous Internet related technologies which have been spun out into separate subsidiaries. 1st Net has become a miniature version of the highly successful CMGI Inc (NASDAQ: CMGI). We will bring you up to date on those events shortly.

For those of you who missed the broadcast of Cliff Smith, the President of 1st Net, appearing on CNBC on Caspar Weinberger's World Business Review, we now have archived the full 35 minute version on the 1st Net site, and you can view it several different ways.

Go to 1st Net's Home Page at www.1stnettech.com, and click on the latest corporate news section.
Go to the following web page: http://www.1stnettech.com/wbrtv.html
Click on this Link

If you have an interest in 1st Net, please take the time to watch the video clip of the interview with Cliff Smith. You will find it interesting.

This past week there were several news releases from 1st Net concerning the formation of a new subsidiary corporation, Mariah Communications.

Mariah has been formed to develop and deploy two revolutionary technologies that 1st Net owns. The first of those technologies is IP Telephony, which is technology which relates to routing long distance calls over the Internet and eliminating long distance charges. The second of those technologies is called Whisper, and this technology relates to providing low cost band-width expansion services for Internet access. The following is a more complete description:

Mariah is a PC-based phone switch that combines data and voice to connect the computer, server, and telephone for real-time voice communication (IP telephony) over the Internet. A client's PBX can serve as both an Internet server and IP telephony switch box so that users may place local or long distance calls from PC to PC, from PC to telephone, from telephone to PC, or from telephone to telephone. Mariah simplifies IP telephony by routing all calls through an open-architecture central hub that can communicate with all IP telephony protocols, both hardware- and software-based. The Mariah hub provides real-time cost analysis and calculates latency (time delay) for user approval before the call is connected.
Wisper provides a wireless "last mile'' alternative for delivering reliable, high speed Internet access directly to the end-user. Current systems require users not only to lay down actual cable to their locations, but also to purchase routing equipment to manage those Internet connection. These systems can cost thousands of dollars, and require 30 to 60 days for installation. Wisper uses wireless technology (it has a range of four miles from the antenna system), offers the same quality of service, may be installed inexpensively within 24 to 48 hours, and virtually eliminates associated support and administrative costs.

Both Mariah and Wisper are in the final stages of R&D, and a beta-test launch is expected within three to six months. Together, the two technologies can offer a reliable, comprehensive Internet communications package at substantial cost savings. Later in the week 1st Net announced the management team that would run the Mariah Communications. The CEO, COO, and CFO are all veterans of many years of service to TCI, the cable giant. Each member of the team chose to leave TCI when the company was bought out by AT&T, and they have now come on board to run the Mariah Communications subsidiary of 1st Net. Here are there respective names and resumes:

Steven J. Santamaria, president and chief executive officer, has over 18 years of progressive operations and upper management experience in the communications and cable industry fields, including 13 years with cable television giant Telecommunications Inc. (TCI), a subsidiary of AT&T (NYSE:T). From 1993 to 1998, he served as VP and general manager of TCI Denver, the company's largest regional operation. Under Santamaria's direction, cash flow growth by TCI Denver increased by approximately 30%. From 1986 to 1993, he was TCI's regional vice president in charge of operations in Colorado, New Mexico, and Wyoming. During his tenure, Santamaria was responsible for approximately one million customers, 4,000 employees, and $450 million in annual revenue. Additionally, his team managed TCI's Alpha testing and deployment of its digital cable and @Home (Nasdaq: ATHM) high-speed Internet access operations.
T.M. Woody Wood, the COO, was a TCI general manager at two of the company's regional cable television operations in the Kansas City area and Central East San Francisco Bay. From 1989 to 1995, he was the area manager of TCI properties in North Georgia and South Carolina, where he oversaw operations management of several cable television operations serving 60,000 customers. From 1987 to 1989 he served as general manager and business manager with TCI Southeast Inc. Wood also has many years of experience in design and manufacturing engineering, direct sales and marketing, and finance.
Douglas G. Woodman, CPA, the CFO, served in various senior level financial and operational capacities for TCI and US West (NYSE:USW - news). He brings over 15 years of finance and operational experience in telecommunications, including cable, satellite, wireless (cellular) communications, telephony, paging and two-way radio. He was director of finance and business operations for TCI's regional operations in Colorado, New Mexico and Wyoming; project director for the 1997 TCI Corporate Planning and Budget Initiative; and director of financial planning and analysis for TCI Central Division. He also served as the controller for the retail business and as the director of financial planning and analysis for US West New Vector Group, based in Seattle, from 1987 to 1990.

Here are links to the two press release which 1st Net issued this week. Stay tuned for announcements on the roll out of the Simulated Stock Trading Game contest for real money.

Links to Free Downloads

Disclaimer

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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