RushNet Inc (RSHN)

[tooflets]

Don't get me wrong. I'm long and all in favor of adding increased distribution damned near anyway possible. But I figure we only have a few choices here with this acquisition by RushNet:

1) Increased dilution - with current share prices and near 6B shares out there already, that's gotta hurt.

2) Purchase with cash - unfortunately, since RSHN isn't doing any public filing, that would have to be with cash that none of the rest of us knew the company had in the first place.

3) Purchase with already existing shares - likewise, since there's no filings, who knows, aside from Corr & Lynch, how many spare shares are lying around at headquarters. I have to assume that an acquisition of this size ("projects 2006 sales to exceed $5.4 million and its customer base of over 2000 accounts") is going to require a heckuva big pile of spare shares. Perhaps RSHN has already been making money and buying shares back already - would that have to have been reported?

It'll certainly be interesting to see how this all plays out. Meanwhile, I, like a whole lot of the rest of you, would sure like to start seeing some public filings, but am staying long nonetheless.