<PAGE>
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FORM 4 OMB APPROVAL
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- ----- Check this box if no longer OMB Number: 3235-0287
subject to Section 16. Form 4 Expires: September 30, 1998
- ----- or Form 5 obligations may Estimated average burden
continue. SEE Instruction 1(b). hours per response .... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Morgens, Waterfall, Vintiadis & Company, Inc.
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(Last) (First) (Middle)
10 East 50th Street
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(Street)
New York NY 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Intrenet, Inc. and INET
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
1/1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director
[X] 10% Owner*
[ ] Officer (give title below)
[ ] Other (specify below)
*Member of a group owning more than 10% of Issuer's Common Stock.
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY
OWNED
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1. Title of Security 2.Trans- 3. Trans- 4. Securities Acquired (A)
(Instr. 3) action action or Disposed of (D)
Date Code (Instr. 3, 4 and 5)
(Month/ (Instr. 8) --------------------------
Day/ ----------- Amount (A) or Price
Year) Code V (D)
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<S> <C> <C> <C> <C> <C> <C>
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Common Stock 12/30/98 S (1) 20,796 D 64,153.22
without par value
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5. Amount of 6. Ownership 7. Nature of
Securities Form: Direct Indirect
Beneficially (D) or Indirect Beneficial
Owned at End (I) (Instr. 4) Ownership
of Month (Instr. 4)
(Instr. 3
and 4)
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<C> <C> <C>
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2,882,938 I(1) (1)
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</TABLE>
Reminder: Report on a separate line for each class of securities
beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, SEE
Instruction 4(b)(v).
(Over)
SEC 1474 (7-96)
Page 1 of 2
<PAGE>
FORM 4 (continued)
<TABLE>
<CAPTION>
TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative 2. Conver- 3. Transac- 4. Transac- 5. Number of
Security (Instr. 3) sion or tion Date tion Code Derivative
Exercise (Month/ (Instr. 8) Securities
Price of Day/ ------------ Acquired (A)
Deriv- Year) Code V or Disposed
ative of (D) (Instr.
Security 3, 4, and 5)
-------------
(A) (D)
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<S> <C> <C> <C> <C> <C> <C>
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6. Date Exer- 7. Title and Amount 8. Price of 9. Number of
Exercisable and of Underlying Derivative Derivative
Expiration Date Securities Security Securities
(Month/Day/ (Instr. 3 and 4) (Instr. 5) Beneficially
Year) ------------------- Owned at
- ------------------ Amount or End of Month
Date Expira- Title Number of (Instr. 4)
Exer- tion Shares
cisable Date
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<C> <C> <C> <C> <C> <C>
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10. Ownership 11. Nature of
Form of Indirect
Derivative Beneficial
Security: Ownership
Direct (D) or (Instr. 4)
Indirect (I)
(Instr. 4)
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<C> <C>
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</TABLE>
Explanation of Responses
(1) On December 30, 1998, MWV Employee Retirement Plan Group Trust (formerly
known as the Morgens, Waterfall, Vintiadis & Company, Inc. Employees Profit
Sharing Plan) ("PS") disposed of the number of shares of the Issuer set forth
in Table 1. PS is an investment advisory client of the Reporting Person, an
investment adviser registered under Section 203 of the Investment Advisers Act
of 1940, as amended. The Reporting Person manages accounts for other
investment advisory clients which currently hold 2,882,938 shares of the
Issuer. Therefore, the Reporting Person may be deemed an indirect beneficial
owner of said shares of Common Stock by virtue of its position as an
investment adviser.
**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
JOHN C. "BRUCE" WATERFALL
/s/ Bruce Waterfall February 11, 1999
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**Signature of Reporting Person
BY: John C. "Bruce" Waterfall as President
of the Reporting Person
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