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Technology Stocks : WavePhore (WAVO)- VBI fed WaveTop for WebTV
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To: David Gardiner who wrote (541)9/2/1997 2:29:00 PM
From: stephen p barnes   of 2843
 
Yo! David,

re: 5mm shares registered in the S-3 you reference, they are all sourced from existing shareholders. Thus, no dilution. (This is the registration of shares related to the convertible preferred that many of us have long feared. If I understand it correctly, original terms made shares eligible for sale as of 9/8. This registration makes that possible.)

Nonetheless, that's a lot of shares to be added to the float at a time of a particularly weak stock price. Good spot to add to positions, if one is so inclined, IMO.

regards,
stephen barnes
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