Replies to post #725 on RushNet Inc (RSHN)

[bochelle]

Sorry, that should be 67,000,000 more authorized. And the capital is in the form of a loan, not the product! Sorry.

B

[Ubertino]

From that Corr letter:

Share Structure

As of 30 November 2005:

Public Float: 1,272,418,582 shares
Restricted (Management Owned): 719,133,280 shares
Issued and Outstanding: 1,991,551,862 shares
Authorized Shares: 4,000,000,000

The company recently authorized an increase from two to four billion
shares total. This increase allows RushNet, Inc. to act in the best
interests of shareholders by securing a partner who can adequately
finance the company's ambitious growth plans. To this end, we have
retained a capital management firm to guide us to a private placement
partner. The expected market penetration and profitability resulting
from such a partnership should benefit us all with increased share
value.

Pursuant to a successful private placement, we expect the company to
be owned--one-third by regular stockholders, one-third (restricted
shares) by management, and one-third (restricted shares) by the
private placement partner(s).

*************************

Public Float: 1,272,418,582 shares
Restricted (Management Owned): 719,133,280 shares
Issued and Outstanding: 1,991,551,862 shares

Right now there are ~2MMM issued(Public float+restricted)

After the partner appears there will be about a three way split between the public, Management restricted and the partner's share.

Public 1.27MMM
Manag. .72MMM
Partn. 1.33MMM
Screwy - not in thirds!

So it's likely:
Public 1.27MMM
Corr 1.27MMM
Partn. 1.27MMM
Totals 3.81MMM

At least it's in thirds!

A real guessing game!