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OTC Journal
August 23, 1999	Volume II, Issue 37

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

To OTC Journal Members:

Dick Geist's August Column

Those members that follow our newsletter know that Richard Geist, Harvard PhD in Psychology, publishes a monthly column on the psychology of small and micro cap investing on our web site.

This month's article, titled "Talking With Management", has been published and is definitely a must read for micro cap investors. Click Here, and a web page will open with the article.

For those of you who wish to follow up and call the management of the Companies we have profiled in 1999, here is a table of names and phone numbers for you to call. Be persistent. The Presidents of public companies can't always take your call immediately:

Company	Contact and Title	Phone Number
1st Net Technologies (OTC BB: FNTT)	Greg Writer (Chairman) or Jeff Chatfield (IR)	888-282-6255 or 858-675-4449
NetSol International (OTC BB: NTWK)	Najeeb Ghauri (President)	310-395-4073
Engineering Power (OTC BB: EGPDF)	Jim Cassina (President)	416-861-1484
US Microbics (OTC BB: BUGS)	Bob Brehm (President)	760-918-1860 xt. 102
Envoy Communications (TSE: ECG)	Geoff Genovese (President)	416-593-1212

NetSol International (OTC BB: NTWK)

Last week when we were out of town NetSol International (OTC BB: NTWK), our biggest winner of 1999, issued an important news release.

This Company continues to provide solid evidence of growth, and it is being reflected in the price of the stock. This stock feels as if it is getting ready to break out to the next level. You will note that a quick look at a current chart (click here) reveals that the stock appreciated about one point the last week of July. Since that time the stock has been consolidating just above $5, allowing everyone with a substantial profit the opportunity to sell.

The next surge of buyers could take the stock up another point, yielding a 60% return from our profiled price. This also equates to a 300% return from the lowest level the stock traded to since releasing our profile back in January.

Investors that follow this stock know that NetSol has applied for a NASDAQ listing, and announced a major acquisition two weeks ago. Last Thursday the Company announced another acquisition which adds further upside for investors.

If you have never taken the time to read our original profile on this Company, simply click here, and you will be taken directly to a web page with an archive of everything we've ever published on the Company.

Here is a complete reprint of the entire press release from last Thursday:

Company Press Release
SOURCE: NetSol International, Inc.

NetSol International, Inc. Acquires Virginia-Based MindSources, Inc.; Acquisition Opens Doors in Largest IT Market in North America

SANTA MONICA, Calif., Aug. 19 /PRNewswire/ -- NetSol International, Inc. (OTC Bulletin Board: NTWK - news; ``NetSol'') announced today that it has acquired 100 percent of the capital stock of Virginia-based MindSources, Inc., an Information Technology company, that will merge with NetSol USA, Inc., a wholly owned subsidiary of NetSol International, Inc. NetSol exchanged 250,000 shares of its restricted common stock for 100 percent of MindSources, Inc. capital stock.

MindSources, Inc., a two-year old privately held company with corporate offices in Chantilly, Virginia, reported just over $300,000 in revenue in 1998 and is currently operating at a run rate of approximately $1.2 million. The company expects next year's revenues to top $3 million. MindSources, Inc. provides technology and business consulting services to firms in the software, hardware and communications industries. Over the past two years, MindSources has built an impressive client list including such blue chip companies as AT&T, MCI WorldCom, Sprint, Prism, CH2M Hill, Sterling Software, MODIS, Compro Systems and ATS Technologies.

With the successful completion of the merger, NetSol's subsidiary NetSol USA, Inc., opened an office in Vienna, Virginia to service major North American customers. This gives NetSol an immediate presence in one of the biggest Information Technology corridors in North America.

MindSources, Inc. envisioned tapping into the medical industry by developing key applications and software for medical billing systems. They have been engaged in the Research and Development of these products, which is believed to be a significant application that offers a niche marketing opportunity. MindSources has been developing other unique applications for the financial and equities markets that will expand the company's offerings. The merger provides NetSol numerous important Information Technology resources.

``We are extremely excited about the prospects for growth and the expanded customer base provided by this merger with MindSources, Inc. The company brings a wealth of new products that have already gone through the R&D process and now can be developed in our development facility in Pakistan,'' said Mr. Najeeb Ghauri, CEO of NetSol USA, Inc. ``The synergy with NetSol USA, Inc., and MindSources, Inc., is perfect as this will allow us to develop these products under our offshore business model, with cost efficiencies, economies of scale and productivity gains.''

Mr. Salim Ghauri, the CEO of NetSol International, Inc. said, ``The latest development of mergers and acquisitions has been an integral part of growing and building NetSol at a rapid pace. This is consistent with our growth strategy overall but it also tremendously improves our earnings potential and overall productivity.''

Included in this material are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements would have proved to be correct.

For further information, please visit the company's web site www.netsol-intl.com or contact: Mark Celano of Market Pathways, 949-955-1860, Email: markc@marketpathways.com.

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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. SSP Management, the parent company of the OTC Journal, has been paid a fee of $50,000 in cash, and 50,000 shares of restricted stock as compensation for representing Netsol International for a period of one year. The OTCjournal.com critiques may contain forward looking statements relating to the expected capabilities of the companies mentioned herein.

THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. THE INFORMATION FOUND IN THIS PROFILE IS PROTECTED BY THE COPYRIGHT LAWS OF THE UNITED STATES AND MAY NOT BE COPIED, OR REPRODUCED IN ANY WAY WITHOUT THE EXPRESSED, WRITTEN CONSENT OF THE EDITORS OF OTCjournal.com.

We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission ("SEC") at http://www.sec.gov and/or the National Association of Securities Dealers ("NASD") at http://www.nasd.com. We also strongly recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, which can be found at http://www.sec.gov/consumer/cyberfr.htm. Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site.