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To: Gabe Heti who wrote (71)1/23/2000 2:55:00 PM
From: Shawn Olesen  Read Replies (1) | Respond to of 77
 
SEPT 30, 99 1O QSB STATES;
6,029,420 SHARES OUTSTANDING; 1,825,040 OPTIONS OUTSTANDING=7854460 TOTAL; DEBT WAS OVER 3 MILLION
SO- 42 MILLION / 7.85mILION =$5.35 + OR -
CONSIDERATIONS: DEBT IS PROBABLY OVER 3 MILLION AND NOT ALL 1.8 MILLION OUTSTANDING OPTIONS SHARES HAVE BEEN EXERCISED
MY GUESS IS APPROXIMATELY $5.50
sO WHY AREN'T THE ARBS PLAYING THIS A LITTLE CLOSER? THERE IS ABOUT A 30% ARB PREMIUM. ALSO THERE WERE SOME 20,000 SHARE BLOCKS THAT PASSED ON THE BID SIDE FRIDAY. wHY DOES SOMEONE WANT OUT?