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To: Jan A. Van Hummel who wrote (20854)	7/26/1999 3:01:00 PM
From: FUZFO	Read Replies (2) \| Respond to of 27722

Jan, I still believe there will be an ipo, but at this point how could anyone from small investor to institutional money manager believe what comes out of the talking heads at NAVR? IPO could come in 1 month or 1 year, who knows? Paulson has ZERO credibility imo. I sold off more than half my shares over the past month and will hold the few thousand I have left in hopes of doing small damage control within 12 months with this stock. Assuming we get an ipo by next summer.