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To: LarryG who wrote (239)	10/5/1997 3:17:00 PM
From: James Strauss	of 279

Reverse Split... >>>You indicate that we have a several year window for the price to rise into the $1.00-$3.00 range. I thought that if voted by the board of directors by October 31st. 1997 that the reverse split would occur either immediately or shortly thereafter. Am I correct? If not let me know your thoughts.<<< ******************************************** Larry: This snipit from their S.E.C. filing leaves some doubt as to when the Reverse Split will take effect... It does, however, lock in the insiders for several years before they can sell their shares... This is positive for the shareholders... ..................................................... The Company has agreed to file, during November of 1997, and maintain effective for two years, a registration statement covering the shares sold in the ECC Offering and the shares underlying the Warrants. The Company has also agreed that, for every month that the registration statement is not effective beginning with March, 1998, it would issue the investors free of cost an additional number of shares equal to ten percent of the shares they had purchased originally in the ECC Offering. The investors (and also Company officers and directors) have agreed not to sell their shares or warrants without the prior written consent of ECC for one year. Until the Company files its registration statement, an investor may not sell any shares acquired in the ECC Offering unless the investor also sells all of the Warrants which the investor acquired therein. Jim

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