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Technology Stocks : AremisSoft Corporation (AREM) -- Ignore unavailable to you. Want to Upgrade?

To: Kevin McKenzie who wrote (168)	5/17/2001 3:01:28 PM
From: Bob Rudd	Read Replies (1) \| Respond to of 683

Kevin: I think the concern/confusion comes from AREM's statements that referred to the Bulgarian project as a $37.5 contract when portions of the contract were contingent and at risk. Some would consider this as just a convenient way to refer to something large and complicated. Others consider this puffery and as misrepresenting the true nature of the transaction. As you state, they spelled out the contingent nature in the filings and thus I would lean towards the convenience and don't see any real attempt to mislead and certainly not to committ a fraudulent misrepresentation. I don't think the second Bulgarian project is at issue. In any event, if Neil Herman is right and $9mm of the $37mm has been executed and mostly collected, then the remaining $28 million over the next 2 years represents less than 6% of AREM's projected revenue for the next 2 years - and that's if the whole thing went south - which is highly unlikely.