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Technology Stocks : WavePhore (WAVO)- VBI fed WaveTop for WebTV

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To: David Gardiner who wrote (547)9/5/1997 10:47:00 AM
From: reed nakazono   of 2843
 
David,

I'm not Stephen but if I may comment, if the 5 million shares being "registered" are in connection with the first preferred stock offering then they have already been "issued" (simply restrictied) and are therefore part of the approximately 16 million shares that you note are currently "outstanding ". If the S-3 is in connection with the recent CS/First Boston offering, then I do agree that this will have a dilutive effect on equity. In neither case do I think will it have a positive short term price performance

Reed
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