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Technology Stocks : Identix (IDNX)

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To: steve who wrote (12437)	2/11/1999 1:48:00 PM
From: David	Read Replies (1) of 26039

Re: Options price for new IDT/IDX employees . . . Steve, you are right and I am wrong. The option price of the four 100,000 option blocks are not yet fixed. Here's the description of "Closing Date" in the S-4A: "The closing of the merger (the "Closing") will occur at the offices of Heller Ehrman White & McAuliffe on a date and time as soon as practicable after all the conditions to the parties obligations to consummate the merger have been satisfied or waived (the "Closing Date"). The Certificate of Merger will be filed on the Closing Date. The Closing and Effective Time are anticipated to be on or about , 1999." What I had in mind were pre-existing options and warrants granted by IDT that would convert to IDX options and warrants as part of the 5,050,000 new shares. These options will be at $0.26 and the warrants at $8.07. By the way -- IDT will be a wholly owned subsidiary of IDX, run by a Board of Fowler, Scullion, Pieper and Khidetel. Pieper probably should get on the IDX Board . . . maybe after a vote at the next shareholder's meeting.

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