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To: Codfish who wrote (885)	8/19/1999 12:58:00 PM
From: Codfish	Read Replies (1) \| Respond to of 972

I checked further with the company's IR and understand that there were 2,000,020 preferred shares that had the ability, before May 99 to convert 10 for 1 at a conversion price of U.S. $1 each. Given the Cdn. $0.10 price, such a move would have been unreasonable and consequently, the 10 for 1 conversion never took place. The shares DID automatically convert in May 99 on a 1 common for 1 preferred at no cost. This creates a much smaller dilution than the 500 million noted in the foregoing posts. Bill C.