Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: Mark Stevenson who wrote (12998)	11/24/1997 4:58:00 PM
From: CalculatedRisk	Read Replies (1) of 18263

Mark, so many falsehoods in such a short post! Falsehood #1: Mr. King exercised his options. According to the 144 filing, Mr. King filed to sell 60,000 shares from his holdings of 630,846 shares. So either he did not exercise any options or he has failed to file required SEC forms in the past. Falsehood #2: Mr. King sold to pay the tax obligation on the options exercised In general, when you exercise options, there is no tax consequence. You only pay taxes when you sell the shares - and the basis is the exercise price. There are special situations, such as if the options were granted below fair market value, then Mr. King might have tax consequences when he exercises the options. But there is no evidence of this in any of Zitel's filings. Falsehood #3: Kaplan, CPA. CPA? This is a joke! Falsehood #4: Where did you get the 100,000 share number in the previous post: exchange2000.com Do you enjoy just making numbers up? King's holdings increased 40,000 shares? Huh? Another FALSE statement. Without Regards, Bill

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