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Technology Stocks : Vari-L (VARL)
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To: Labrador who wrote (1868)1/31/2000 9:41:00 PM
From: akmike  Read Replies (1) of 2702
 
You are correct that we should have seen the dilution coming. It was fully disclosed in last year's annual report. I am not proud that I missed it. There was the warrants and several years worth of options that all-of-a-sudden went well into the money with the recent run-up in the price. If growth continues to accelerate, the number of new options or SAR's will not be nearly as noticeable or dilutive in the future.

Best regards,

Mike
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