December 11, 2002
TO SUBSCRIBERS OF PROMINET:
Through no fault of Prominet, its long expected and promised continuing funding has not arrived. Regrettably, as a result of our inability to locate emergency alternate financing, caused by the failure of our lender to provide promised funding, Prominet is no longer in a position to continue it's operation.
It will be necessary for you to immediately locate new providers and to transfer your service as soon as possible. We will be able to continue our network for a short period of time, but the length of times our network will continue to be available to you is uncertain.
Our staff and management have worked diligently over the past two and one half years to develope and provide you with the best possible Broadband Wireless High Speed Internet product available today. The failure of Prominet is not as a result of our inability to be able to provide and deploy the best possible technology as evidenced by the service we have been providing to our subscribers. It is because a supposedly reputable lender has blatantly and repeatedly failed to provide promised approved funding.
We sincerly apologize to you for the inconvenience that this unexpected event will cause you. It is presumed that Prominet will now be liquidated through the Bankruptcy Court, and that you will be contacted in due course for the removal of the Prominet equipment from your home or office and with regard to any other matters relating to Prominet.
This situation is a tragedy for all of us.
ALAN G. KIPNIS
President and Chief Executive Officer
Management and Staff of Prominet
There was a $25 million dollar federal grant for tier 2 ISP's in the pipe for this company, but the CEO would not open up the books for examination by the lender, so the lender killed the deal.
I wonder WHY the CEO wouldn't open up those books...?
This is just another of a series of blatant prevarications from a consummate thief and liar.
