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October 28, 2002 Dear Shareholder: The Board of Directors has authorized a reverse split of one-for-fifty (1:50) effective November 4, 2002. The Company has managed to interest an investment-banking firm to fund WENR in an offering amount up to $1,000,000. The requirement of the investment banking firm is stock trading in the $0.50 or greater range. This can only be accomplished if we reverse split the shares of stock. The Board of Directors has agreed to reverse split the shares (at a rate of fifty existing shares for one new share) and enter into a financing agreement with this investment banking concern. Management believes this is the best avenue to secure financing. Under Utah Revised Business Corporation Act a shareholder's meeting is not required for a reverse split. Therefore the Board of Directors has authority to enact a reverse split. With a reverse split, the proportionate ownership in the Company stays the same. You are not diluted in any way of your ownership in the Company. This is an effort to bring the stock price to a higher market value, at the same time attracting investment capital. The Corporation will not issue any fractional shares. The fractional portion held by any shareholder below fifty one-hundredths (0.50) will be rounded down to the next full number of shares. The fractional portion held by any shareholder fifty-one hundredths and above fifty one-hundredths (0.50) will be rounded up to the next full number of shares. The Company has not secured financing through investor participation since 2001. The Company has had sales but not sufficient to cover operating costs and market to new customers. The Company is pursuing new customers and technology enhancements to its ScreenFriends software. However, this takes capital to secure new customers and provide necessary modifications to the software. The Company has also had a encouraging level of sales through its television advertising on TVN and is discussing the sale of ScreenFriends software through various television markets and other resellers. As of October 25, 2002, the shares outstanding are: Common 90,087,396 Sincerely,
Dan Green
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5826 Uplander Way,
Culver City, CA 90230 • (310) 216-7700 • FAX (310) 216-9191 |