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Technology Stocks : 7th Level

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To: Ron Wargo who wrote (371)	8/15/1997 4:00:00 PM
From: Tim Wolff	of 1019

SEVL's earnings are out and they are BAD. They lost .52 on sales that were over 50% less than the year ago period. The loss was expected but I have two concerns. 1. If this co. is doing so poorly, why was Chairman of the Board given options to purchase 560,000 shares at prices ranging from $2.44 - 5.00. This type of compensation sickens me. If you want to reward performance, these options's strike price should be much higher. 2. I also get nervous about companies that fundamentally change what they do. SEVL is an entertainment software company. They are not a software production consultant. If you bomb on a few title look at how you are developing these ideas and products. How can you possibly be a consultant to other software companies when you decide you are getting out of the business because is too cyclical. I made good money on SEVL earlier this year but now have BIG reservations on their ability to come back. They better bring out "Dominion" on time or they,re DEAD! Tim

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