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Technology Stocks : IATV-ACTV Digital Convergence Software-HyperTV -- Ignore unavailable to you. Want to Upgrade?

To: Craig Jacobs who wrote (6128)	8/16/1999 4:31:00 PM
From: StaggerLee	Respond to of 13157

SARs expense on the P&L was only $1.14 million in Q2. (Seems a bit light with the stock rising $2.50, but I trust them, I guess). The $10.2 figure also includes depreciation, amortization, and something called "Common Stock Issued for Services" for $4.3 million. lol. BUT: What's with that $4.3 million "common stock issued for services" burried in SG&A on the P&L? Looks like all those SARS that we thought were "cancelled" by management in the first quarter have perhaps shown their heads again in a less identifiable fashion! Told ya. Shrug. (Strange they didn't explain it in the PR) Oh here it is, in the MD&A: "Selling and administrative expense also increased in the more recent six months, to $6,622,575, from $3,903,848, due chiefly to an increase in non-cash employee compensation, paid in the form of common stock." Sometimes, appreciation rights just isn't enough! These guys took the whole shares, not just the appreciation! Amazing how many shares have been issued in 1999. Almost 11.5 million new shares issued through June 30, for which the company has derived less than $3 per share in cash. Fantastic!