Microcap & Penny Stocks : Equalnet Holdings -- ENET

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To: Mel Spivak who wrote (6)3/12/1998 7:19:00 PM
From: fred woodall  Read Replies (1) of 47
ENET (2.968) ENET on Thursday named Robert H. Turner chief executive officer, president and director. ENET said Turner, 49 years old, will replace Zane Russell, EqualNet's co-founder, who is expected to remain in a senior management position and on its board.
Turner was previously president and chief executive of EON Corp., an international wireless-data services provider.
On Monday, the telecommunications network provider removed Russell from the chairman's role, replacing him with Mark Willis, founder and president of Willis Group.
Also ENET said it sold four million shares to the Willis Group for $1 each and intends to use the cash infusion for general corporate purposes. As part of its deal with the Willis Group, MCM Partners and Advantage used by Total World Telecommunications Inc. (TWTI).

At the end of Dec. EqualNet reported a net loss of $7.2 million, or $1.18 a share, compared with a loss of $2 million, or 33 cents a share, in the long-distance-service reseller Furst Group Inc. of Shamong, N.J.
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