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

To: Mike Fredericks who wrote (8152)	12/2/1999 5:35:00 PM
From: StaggerLee	Read Replies (4) \| Respond to of 13157

Mike, your understanding of SARS vs. options is correct. Note that while the bookkeeping treatment is different, the economic impact on the company (and the shareholders) is basically the same. Whether from SARS or options, shareholders suffer dilution upon exercise and receive less than the true market value of the shares in return. Accordingly, I can't understand why you feel more comfortable now that they reportedly get options instead of SARS. Ten million bucks is ten million bucks either way: It's about half the book value of the entire company, forgone so that management is adequately compensated. OUTRAGEOUS. And now there's talk of a secondary to raise capital? Can they be serious??? Let's call it what it really is. Management can now derive massive economic benefits from the corporation without having to flow the amounts through the earnings. I suspect that was the real motivation if there was, in fact, a conversion. Now, only an astute reader of the financials will see what's really going on. Since so many investors here don't really care or don't want to know the truth, perhaps it's for the best. They'll ultimately get what they deserve. Party on!