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I'm going to let Don answer this one. He has had personal contact at stockholder meetings with Bud Hawk and is more familiar with his background and ability.
As for TEMPEST deals, all we have is the company's indication that the Secure Computing Division will turnaround and become profitable.
Nobody that I know of has indicated any precise figures. We will have to be patient on this one. However, IF (and only if) the orders start to show up soon, will we have any indication of true volume. Just have a feeling that if Federal Gov't orders come in, it has the possibility of being the eventual prime contributor to future profits.
The last annual report indicated that warrants out are as follows:
Shares, Exercise Price, Expiration Date
75,000- $ 4.63- 12/4/98
500,000- $ 3.75- 3/30/99
100,000- $ 3.65- 5/16/99
281,100- $ 8.00- 6/11/99
5,000- $ 4.75- 11/30/2000
75,000- $ 3.38- 2/28/99
________
1,036,100 total warrants.
Looking at the prices, do not see any great danger for any big dilution. Remember it will also bring cash in to the company treasury and make more shares outstanding if exercised. Looking at those prices, only the last two relatively tiny units look like any bargain to me.
Perhaps others may have a slightly different slant on things, so let's get the full perspective from all. |
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