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To: rrufff who wrote (15456)	12/2/2003 1:43:12 PM
From: rrufff	Respond to of 120415

BSDM-Took a little off the table at the open. Still long and like the company's long term prospects. Just felt I could make more money in something else until January. Figured the financing would scare out a few shares. I can see both sides but the private sale price was so far below current market that there has to be a bit of an adjustment. So far doesn't look like the type of volume that would mean that the lenders/buyers are shorting against their shares. So far, it's just perception. As for valuation - I know I looked at the value of Thermatrix to BSDM - I think it's currently 30% interest after giving a chunk to employees. Is there a realistic way of valuing this now. They put a value for accounting and disclosure at the time of the distribution to employees. Is that realistic?