NetSol International Inc. (NTWK)

[Tingleff]

The fellow directors name is Singhall ? with 2 L's in the end.
Ok wasn't the first time it was spelled like that - But most references spell it Singhal.

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ITEM 5. OTHER INFORMATION.

At a Board meeting on November 19, 2000 the Company appointed Keith
Freadhoff as Chief Executive Officer and appointed John J. Poelman, Robert E.
Ciri and Shelly Singhall as directors replacing Roy C. Camblin, III who had
resigned as Chief Executive Officer and as a Director and John Dillon and Joseph
Roebuck who had resigned as Directors.


Subsequently, at a Board meeting on January 3, 2001 the Company
appointed Donald L. Danks as a director and at a Board meeting on January 5,
2001, the Company appointed Donald L. Danks as Chairman and Chief Executive
Officer of the Company and Jay Poelman as President and Chief Operating Officer.
The Board also accepted the resignations of Chairman, Chief Executive Officer
and Director, Keith D. Freadhoff; Chief Operating Officer and Director, Don
Corliss, as well as Directors Scott Bebee and Robert Ciri.


The Company has engaged BlueStone Capital, LLP, as its financial
advisor to explore strategic alternatives. BlueStone Capital is an investment
bank that focuses on emerging growth and middle market companies. BlueStone is
known for providing a broad range of corporate finance, research, syndicate
sales and trading services to its clients and will assist the Company in
exploring strategic business alternatives to drive shareholder value in
connection with the Company's development and implementation of strategic and
financial programs.

Pursuant to the terms of the agreement, BlueStone Capital will provide
the Company with financial advisory services and assist the Company in
identifying financial opportunities. In exchange, BlueStone Capital received
warrants to purchase 500,000 shares of the common stock of the Company that can
be exercised at the Company's market price at the time of conversion and is to
receive $7,500 during each month of the engagement. Shelly Singhal, a director
of the Company, is a managing director of BlueStone Capital.

On January 15, 2001, the Company reached an agreement to terminate the
BlueStone Capital, LLP engagement and Bluestone agreed to forego any early
termination penalty and has returned to the company half of the warrants
previously issued. Mr. Singhal is still a Director of the Company.
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http://www.google.com/search?q=%22Shelly+Singhal%22&hl=en&lr=&safe=off&filter=0



Kr
Jens