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To: Findit who wrote (2169)	7/10/2001 10:25:15 AM
From: sorenk2	Respond to of 120415

smdx: more dilution than anyone wanted to see, but this will get the company some attention, and reich's compensation is tied to the stock price. with the stock trading a few hundred shares a week, and a .40 x .72 spread, it is tough to see this news as negative.

To: Findit who wrote (2169)	7/10/2001 10:36:54 AM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 120415

james...basically i am torn. if the numbers hold up the potential dilution down the road is substantial. what i don't get is that the initial $1m issue when converted carries a close to mkt price of .50 (is that right???? (GGG)}...then we go to the notes and wts at .057 ea...that is a LOT of juice. so, can this guy deliver enough firepower to obviate the eventual potential dilution? or will the company buy back the notes...saving us 15m shares, and leave us w/just the wt exposure? they must see something here in smdx to risk what they are...i think it's there too. but with the potential dil it's a different ballgame. if they have the keys to the city it won't matter. if they don't this investor/trust is going to be out a pile of dough. i am going to wait until i see the filing before i say anything else. i have screwed it up enough already.