EXHIBIT 99.38 NOTICE OF ELECTION OF RIGHTS
Corporate Offices
Equity Growth Systems, inc.
A Publicly held Delaware Corporation
July 9, 1999
American Internet Technical Centers, Inc.
A Nevada corporation ("American Internet Nevada")
440 East Sample Road, Suite 204
Pompano Beach, Florida 33064
American Internet Technical Center, Inc.
A Florida corporation ("American Internet Florida")
440 East Sample Road
Pompano Beach, Florida 33064
Re.: Exercise of rights under Section 4.9 of Reorganization
Agreement; related rescission of American Internet Nevada
stock exchange with former American Internet Florida
stockholders.
Gentlemen:
Please be advised that Equity Growth Systems, inc., a publicly held
Delaware corporation, hereby exercises its rights under Section 4.9 of the
Reorganization Agreement with certain of the stockholders of American Internet
Nevada, the former stockholders of American Internet Florida, American Internet
Nevada, American Internet Florida, and, as a consequence thereof, American
Internet Florida is now a direct wholly owned subsidiary of Equity Growth,
American Internet Nevada no longer has any right title and interest in American
Internet Florida, and only the former stockholders of American Internet Florida
(J. Bruce Gleason and Michael D. Umile) have any rights to the shares of Equity
Growth common stock being issued in exchange for all of the capital stock of
American Internet Florida, subject to reallocation required to protect the
interest of several innocent subscribers for American Internet Nevada common
stock which we have agreed to honor, at the request of Messrs. J. Bruce Gleason
and Michael D. Umile.
Very truly yours
Equity Growth Systems, inc.
/s/ Charles J. Scimeca /s/ /s/ G. Richard Chamberlin /s/
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Charles J. Scimeca G. Richard Chamberlin, Esquire
President General Counsel
GRC/vhl
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