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Technology Stocks : Energy Conversion Devices -- Ignore unavailable to you. Want to Upgrade?

To: Krowbar who wrote (4302)	12/10/1999 3:23:00 AM
From: WALT REISCH	Read Replies (1) \| Respond to of 8393

Del, I'd really like to talk more about the carbon-based chip and our chip as it relates to the auto industry or the C3D approach to storing data, but I have to deviate for a minute. To the breakfast club... and, even those that weren't able to attend the breakfast. Some time back, on this thread, Michael mentioned to me, “no one has all the answers.” I believe this to be true. And, to me this is an open invitation to ask questions and hopefully be enlightened or educated. Well, I have some questions… if I may? Many of you are much wiser and knowledgeable than I am, but at this point I'm really puzzled. Why do they want to increase the number of shares again? I know there are a number of directions we can go with this idea of increasing the number of shares, but correct me if I am wrong. We just voted to increase the number (+/- 5 million) and we were told (in writing – shareholders letter) that they (the company) were going to concentrate on increasing shareholder value. Weren't we told that? Now let me ask… what is shareholder value? Is it a personal value (knowing that your technology is the best) or is it awarding/compensating an investor for financing a company/individual in their area of expertise? I'm sure there must be several other connotations to shareholder value, but I am currently leaning toward the latter of the two that I just mentioned. The share price during March of this year (last meeting) was 9 –10.875, give or take a little. ENERW's are exercisable at about 17 and some change, come Jan. And, what were we at today? I know this is a mute point, but why would we vote to increase the number of shares and further dilute our investment? I don't mean this in a negative connotation… it's just a question. Is this the only way that we can negotiate or bargain with the ‘BIG' boys? I know this is going to sound funny, but I would much rather see a stock split (2 for 1) which would cut the current price in half and actually drive the price per share, up, after the split (IMHO). We all know this company is worth more than $4-5/share. Again IMO, that would increase shareholder value. I feel like Johnny5 in the movie, Short Circuit. I need input… more input. <G> Walt