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Subject: Telecom Consolidation Begins to Accelerate.................... owwra
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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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