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To: Findit who wrote (111432)	3/19/2004 5:45:38 PM
From: Findit	Respond to of 208838

Still can't believe XTRN has not risen to the .30 area yet. They have .9 million as of eoy and another 4 million coming in from the liquidation. With 16 million shares out that comes to around .30 and they still will have a shell with tax loss carryovers that has some value. Go figure. Jim From the 10K a recap of the deal potential - RECENT DEVELOPMENTS On January 26, 2004, we entered into an Assignment Agreement with Applera Corporation through its Applied Biosystems Group. Pursuant to the Assignment Agreement, we agreed to sell substantially all of our intellectual property, including all patents and know-how, but excluding our trademarks and trade names, to Applera for total consideration of US$4,000,000. In exchange for our intellectual property, Applera agreed to pay and deliver to us total cash consideration of $4,000,000 in the following manner: $3,600,000 in cash at closing ($100,000 of which has already been received in the form of a non-refundable deposit); and $400,000 in cash ninety (90) days after closing subject to our providing certain consulting services as provided in the Assignment Agreement. Completion of the transaction is subject to a number of closing conditions, including approval of our stockholders. We have scheduled a special meeting of our stockholders for March 24, 2004, at which the stockholders will be asked to vote on the sale of our intellectual property to Applera. The sale of our intellectual property pursuant to the Assignment Agreement will result in the receipt of net proceeds of approximately $3,600,000, after payment of all expenses associated with the transaction. We could distribute that cash as a dividend to our stockholders as part of liquidation, after satisfaction of all of our liabilities and payment of all costs associated with the liquidation. If we were to make a distribution to stockholders before the expiration of certain representations and warranties we made under the Assignment Agreement (18 months from the date of closing), we would be required to reserve and hold back $1,000,000 for possible settlement of potential claims by Applera against us for our breaches of those representations and warranties. Alternatively, the Board of Directors believes that we could attract interest from other businesses that might benefit from access to those funds, as well as our status as a public company with a clean reporting history. Such interest could result in us merging or otherwise joining together with an existing business that could create much greater long-term stockholder value than simply liquidating the Company. After closing the contemplated Sale of Assets and complying with the requirements of the Assignment Agreement to provide consulting services, we anticipate that we would terminate all of our remaining employees and terminate our existing lease pursuant to an early termination agreement (see Item 2 - Properties). Consequently, following the transaction, after payment of employee severance and lease terminations costs, we would have limited overhead costs of operation, but would remain a reporting company under the rules and regulations of the Securities and Exchange Commission. It is the intention of the Board of Directors to spend a reasonable period of time exploring opportunities to find a merger candidate and, if it is unable to conclude a transaction that it believes would provide long-term stockholder value, to propose that the stockholders approve a liquidation. In either event, the Board of Directors does not anticipate taking any action without further stockholder approval