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<p align="right"><font color="#000000" size="2" face="Courier New, Courier, mono">Vol.
6, Issue 243 - August 2002</font></p>
<p><font size="6"><font face="Impact" size="7" color="#FF0000">The
Wall Street Bulletin</font></font></p>
</div>
<div align="center"><font color="#FF0000"><i><font size="4" face="Times New Roman, Times, serif"><b><font size="3">Your
First Source For News From &quot;The Street&quot;</font></b></font></i></font></div>
<p align="center">Symbol: <b><font color="#FF0000">IGTT</font></b><br>
Shares Outstanding: 373,400,0000<br>
Float (est.): 52,560,000<br>
Short-Term Target: $3.75<br>
52 week High/Low: $1.10/0.02<br>
Rating: Strong Buy </p>
<p align="center"><font size="3" color="#000000"><b>Our last pick
Symphony Telecom (OTCBB: SYPY) went UP 100% in just one week!!!</b></font></p>
<p align="center"><font color="#000000" size="3"><em>InDigiNet Identifies
Acquisition Targets with Combined Revenues of $35 Million...</em></font></p>
<p align="center">&nbsp;</p>
<p align="center"><strong>Telecom Consolidation Begins to Accelerate
</strong></p>
<p align="left"><font size="5">T</font>he Wall Street Bulletin believes
that the <a href="http://moneycentral.msn.com/content/P26293.asp?special=msn">recent
investment of capital into Level 3, lead by Warren Buffett</a>,
is further proof of the continued validity of the telecommunication
market when looked at from the perspective of the small to mid-sized
enterprises. After the boom and bust comes the revival. For some
carriers drowning in debt, such as Global Crossing and WorldCom,
the future may be dim. But for those survivors of the industry
that have managed to remain on their feet, other companies' problems
mean opportunity. &quot;Every major industry in the history of
the United States has experienced a similar transformation, from
the railroads in the late 1800s to the automakers in the mid-1900s
to the Dot-Coms at the end of the 20th century,&quot; says <a href="http://www.commweb.com/article/COM20010403S0001">Robert
Saunders</a>, director of the Eastern Management Group market
research firm. <a href="http://www.eftia.com/about/exec/dean.html">Christopher
Dean</a>, CTO of OSS company Eftia, says &quot;We are seeing all
the people that are the survivors. There's all this pent-up money
and for the surviving carriers out there, they can get what used
to cost a few billion for a few millions.&quot; <em>Read the full
story from Telecommunications Magazine - See the link at the end
of this newsletter.</em> </p>
<p align="left">As we write this report, our New Recommendation
InDigiNet, Inc. (<a href="http://moneycentral.msn.com/scripts/webquote.dll?ipage=qd&Symbol=igtt&SUBMIT1=Go">OTCBB:
IGTT</a>) has only been trading on the OTC Bulletin Board since
late May of 2002. As InDigiNet, Inc. continues to implement its
business plan, we believe this company will help lead the way
up for the resurgence of the Telecom Sector. This could be our
strongest recommendation of the year. We are giving IGTT our Highest
Rating of STRONG BUY/AGGRESSIVE GROWTH.</p>
<p align="left">&nbsp;</p>
<p align="center"><strong>Ground Floor Opportunity / Tremendous
Growth Potential </strong></p>
<p align="left">We believe IGTT will perform equally to, if not
greater than its competition. A similar telecommunications company,
Talk America Holdings (Nasdaq: TALK), <a href="http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=talk&sid=0&o_symb=talk&freq=1&time=7">share
price began to explode in April of this year moving from just
over $0.40/share to over $4.00/share in late June</a>. Talk America
Holdings previously had a market cap of only $24.51 million, but
today has a market cap of $267 million.</p>
<p align="left">IGTT curently has a market cap of $22.42 million.
Using the TALK model for potential growth, IGTT could very well
be trading in the .60 range in only a few months, with a market
cap in excess of $250 million. This would be an increase of 1000%.
So you see why IGTT has such great potential and the time is right
for investors to get in on the ground floor.</p>
<p>&nbsp;</p>
<p align="center"><strong>The <em>InDigNet</em> Strategy</strong></p>
<p align="left">InDigiNet, Inc. is an integrated solutions company
that provides small to mid-sized enterprises (SMEs) with an integrated
communication solution. InDigiNet is a prestigious <a href="http://tools.thestreet.com/tsc/quotes.html?pg=qcn&guid=%7B35CA79AF-6477-4734-90E1-97EC3455E773%7D&symb=igtt&sid=692861&orig=1&timer=">&quot;Diamond&quot;
level partner of Avaya</a>, as well as a reseller for Cisco and
Compaq. The Company will offer data, local, long distance and
wireless services to SMEs over third party networks enabling the
Company to offer a comprehensive suite of services without the
capital burden of building a communication network. The Company&#8217;s
strategy is to acquire the customer bases of smaller, single market
communication companies and attractively priced <a href="http://webopedia.com/TERM/I/ISP.html">Internet
Service Providers </a>(ISPs). <em>The Company recently completed
its acquisitions of Fox Telecommunications and WBConnect</em>.
InDigiNet will then expand the breadth of their services to grow
revenue and enhance profitability. SMEs account for $120 billion
in commercial telephony, data services and technology spending,
or 33% of the country&#8217;s total market, and this spending
is expected to grow at above average rates over the next ten years.
<em>Source: Morgan Stanley Dean Witter</em>. </p>
<p align="left">The IGTT web site: <a href="http://www.indiginet.com">www.indiginet.com</a></p>
<p align="left">&nbsp;</p>
<p align="center"><strong>The<em> </em>IT Market</strong></p>
<p align="left">Based on recent studies, the country&#8217;s 7.4
million SMEs currently lag significantly in the utilization of
<a href="http://webopedia.com/TERM/I/IT.html">IT</a> and data
communications, including Internet access, web services, business
software and e-commerce. Worldwide IT spending increased to $981
billion US for the year, an overall increase of 3.7 percent over
2001, according to a study released 7/24/2002 by market researcher
IDC. IT spending in 2003 is expected to reach record heights,
growing by 9 percent worldwide to top the $1 trillion mark for
the first time. In IDC's revised forecasts for IT spending in
2002 and 2003, IT spending in the US is expected to increase by
3 percent this year over 2001 to $436 billion, with further growth
of 9 percent in 2003. Western Europe can expect growth of 4 percent
in 2002 and 6 percent in 2003. Though Japan will experience flat
growth levels this year, by next year growth in the market will
return to the tune of 7 percent with particular strength shown
in China, India, Korea, Russia, the Philippines, South Africa
and Poland. <em>Source: <a href="http://www.idc.com/en_US/st/aboutIDC.jhtml;jsessionid=2J2GJSTTFNK4MCTFA4FCFGAKMUDYWIWD">IDC</a></em></p>
<p align="left">&nbsp;</p>
<p align="center"><strong>Particulars</strong></p>
<p align="left">The Wall Street Bulletin is putting IGTT on our
Strong Buy/Aggressive Growth recommendation list for the following
reasons:</p>
<p align="left">1. The Company's strategy is to acquire the customer
bases of smaller, single-market communication companies and attractively
priced Internet Service Providers (ISPs). The Company will sell
its bundled service package to the acquired customer base that
will form a direct and immediate distribution channel for all
types of communication services - local, long distance, wireless,
and data. </p>
<p align="left"><br>
2. The Company is currently serving many customers in the Denver/Front
Range communities but in particular the education vertical market
has recognized the value of integrating a wireless broadband data
network into the existing campus network. The Company's customers
include <a href="http://www.usoc.org/">United States Olympic Committee</a>
(USOC), <a href="http://www.du.edu/">University of Denver</a>,
and <a href="http://www.colostate.edu/">Colorado State University</a>.
</p>
<p align="left"><br>
3. The Company has identified approximately $35,000,000 in revenues
to acquire comprised of distressed assets to be auctioned in bankruptcy
court and smaller communication providers with valuable customer
bases. Each of the targeted companies are within the Company's
footprint and will, subject to purchase completion, increase the
Company's embedded customer base. </p>
<p>&nbsp;</p>
<p align="center"><strong>Investment Consideration</strong></p>
<p align="left">InDigiNet Inc recently filed its 10QSB, for the
three months ended March 31, 2002. IGTT reported Revenues of $339,694
in Q1 2002 vs. Revenues of $0 in Q1 2001. At this current growth
rate, revenues should grow above $1.3 million for their first
year of production with no increases in acquisitions. As more
and more large corporations come under government scrutiny, investors
will turn to small to mid-sized companies with their investment
dollars. </p>
<p align="left">&nbsp;</p>
<p align="left">NEWS - InDigiNet, Inc. Completes Acquisition of
Fox Telecommunications, Inc. - <em>PRNewswire - </em><a href="http://tools.thestreet.com/tsc/quotes.html?pg=qcn&guid=%7B42FC3A33-75F2-4246-AFBE-0FF24082C128%7D&symb=igtt&sid=692861&orig=1&timer=">CLICK
HERE</a></p>
<p align="left">NEWS - InDigiNet, Inc. Completes Acquisition of
WBConnect<em> - PRNewswire</em> - <a href="http://tools.thestreet.com/tsc/quotes.html?pg=qcn&guid=%7B5877DA16-41D7-4F15-942D-BE31B81F38A7%7D&symb=igtt&sid=692861&orig=1&timer=">CLICK
HERE</a></p>
<p align="left">&nbsp;</p>
<p align="left">NEWS - Telecom Consolidation Begins to Accelerate
- from <em>Telecommunications Magazin</em>e - <a href="http://www.telecomflash.com/default.asp?journalid=5&func=articles&page=070205&year=2002&month=7&rsno=5">CLICK
HERE</a></p>
<p align="left">&nbsp;</p>
<p align="left">Industry Interests - Telecommunications Websites:
<a href="http://www.tiaonline.org/">TIA Online</a> - <a href="http://www.telecoms-mag.com/">Telecommunications
Magazine</a> - <a href="http://www.itworld.com/">IT World</a></p>
<p align="left">&nbsp;</p>
<p align="center"><font size="3"><b><font color="#666666">The Wall
Street Bulletin is an independent newsletter and is not affiliated
with InDigiNet, Inc.</font></b></font></p>
<p align="center">&nbsp;</p>
<p align="left"><font size="1">The Wall Street Bulletin is an independent
research firm. This report is based on The Wall Street Bulletin&#8217;s
independent analysis but also relies on information supplied by
sources believed to be reliable. This report may not be the opinion
of IGTT management. The Wall Street Bulletin has also been retained
to research and issue reports on IGTT and was paid ten thousand
dollars by a shareholder of the company. The Wall Street Bulletin
may from time to time buy or sell IGTT common shares in the open
market without notice. The information contained in this report
is not intended to be, and shall not constitute, an offer to sell
or solicitation of any offer to buy any security. It is intended
for information only. Some statements may contain so-called &#8220;forward-looking
statements&#8221;. Many factors could cause actual results to
differ. Investors should consult with their Investment Advisor
concerning IGTT. Copyright 2002 &copy; The Wall Street Bulletin
- All Rights Reserved</font></p>
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