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Technology Stocks : TAVA Research - No Discussion -- Ignore unavailable to you. Want to Upgrade?

To: C.K. Houston who wrote (194)	10/23/1997 7:54:00 AM
From: C.K. Houston	Respond to of 810

YEAR 2000 INDEX (Revised 10/23/97) ======================================================= BOOKMARK THESE: Y2K Press Clippings archive, updated on daily basis. year2000.com Y2K: Impact on Stock Market & Society <- BOOKMARK SI/Automatic Updates exchange2000.com Y2K Investor's Survival Guide y2kinvestor.com Y2K Tip of the Week: y2ktimebomb.com ............................................................................................................. Embedded Systems exchange2000.com Y2K Books to Order On-Line year2000.com Recommended by CK Houston - Investors Y2K Survival Guide: y2kinvestor.com Y2K & Stock Market: exchange2000.com exchange2000.com

To: C.K. Houston who wrote (194)	10/23/1997 8:19:00 AM
From: C.K. Houston	Read Replies (2) \| Respond to of 810

WARRANTS INDEX (Revised 10/23/97) =============================================================== *NO changes in terms of calling/exercising of the PUBLIC WARRANTS (10/23/97)* REFERENCE ON WARRANT REDEMPTION: exchange2000.com Sept 8/97 exchange2000.com Aug 2 '97 WARRANT DISCUSSION: October 19-20 97 ......................................................... From: Steve Woas Oct 19 1997 12:07PM Reply #4354 I must confess that I read the S-3 and am still confused as to the status of my TPRO warrants! I bet others with the warrants (TPROW)are also confused. Is the company calling the public warrants, or are they just issuing shares of stock getting ready to call them if the price of TPRO meets the 20 day $6 3/8 criteria. If they are calling them now, a warrant plus how much will buy a share of TPRO? From: Karl Drobnic Oct 19 1997 3:32PM Reply #4364 I read it as TPRO getting ready to call the warrants. They'd be foolish to adjust the terms of the warrants just before the stock takes off since every warrant redeemed means cash in TPRO's treasury. I've seen companies do many things to the terms of warrants, so it's best to let TPRO clarify what the filing means. But adjusting the call terms downward at this point would be exceedingly strange. It would send a message to Wall St. that TPRO management doesn't stand by their word. TPRO has worked hard to stand by its word - for example, busting a gut to get the CD out on Oct. 15th, right on the target. From: Jeff Litwin Oct 19 1997 4:44PM Reply #4368 Karl, I owned a few DSYS warrants and they called them early on me and I was not a happy camper. I showed them my displeasure by selling and not converting. (Their IR person ws very rude when I called to inquire about the warrant situation, so I lost interest in the company.) They got the last laugh as the stock nearly doubled in the ensuing few months. Many said at that time that calling the warrants would stabilize the stock. They seemed to be correct. From: JDN Oct 20 1997 7:45AM Reply #4383 Dear Karl: I do not know what is going on with the warrants as I dont own them and don't follow them. BUT I would like to say this: I would prefer TPRO to adjust the terms of the warrants to raise additional cash rather than to issue more stock over and above the warrants. If cash is needed for whatever reason sometimes it comes down to the lesser of two evils. However, if things are going great I fail to see why they cannot get a sufficient line of credit at a Bank. My concern is that they may not have a bank large enough or progressive enough to meet their needs. JDN From: Jim Wilke Oct 20 1997 1:31PM Reply #4392 I called Topro, Inc. this morning at 10AM PDT, and spoke with Fred Betts. My main question was whether the warrants discussed in the 10/17/97 S-3 filing had anything to do with the publicly traded warrants which most people have access to. *Fred said it does NOT impact the publically traded warrants at all.* The publically traded warrants must still close at or above 6 3/8 for 20 consecutive trading days for them to be callable. From: Steve Woas Oct 20 1997 2:07PM Reply #4393 I also spoke to Fred Betts today and last friday. He told me that when the warrants are called, one will have 30 days to redeem them. From: Viktor Oct 20 1997 2:23PM Reply #4395 I called Topro with the same public warrants question and was redirected to Scott Liolios who said: there are NO changes in terms of calling/exercising of the PUBLIC WARRANTS. WARRANT DISCUSSION: October 2-6 '97........................................................ From: Mitch Oct 2 1997 7:06PM Reply #3443 If you buy a warrant at $2.75 and a month from now the stock goes to $15.00 in say, 4 days, do you exhange the warrant plus $3.50 to the company for a share of stock worth $15.00. From: Ron Harvey Oct 2 1997 8:29PM Reply #3446 Or you can sell the warrant for about 11 1/4, which is what the bid price would likely be were the stock to magically rocket to $15. Or sell the stock short as a hedge and cash in the warrant to scalp that extra 1/4. . . . You should get stuck with such a decision, right? From: JDN Oct 3 1997 9:45AM Reply #3459 YEP, you got it right. But owning a warrant is for the most part same as owning stock. Just remember to add 3.50 to your warrant cost, compare it to current stock price and decide whether or not the premium is worth it to you. From: Steve Woas Oct 4 1997 8:32PM Reply #3545 If the stock go up long enough for the company to call the warrants, how quickly does an investor need to act to redeem the warrents for stock? What sort of time frame are we talking about here From: Mary Beth Ford Oct 4 1997 11:34PM Reply #3551 Excuse me stopper but those posts do not tell you how long you have after the warrants are called...24 hours? 5 working days? If you don't redeem them do they sell as warrants automatically or do you just lose them? I've never owned warrants before. I think it is a good valid question that has NOT been addressed on the research thread. From: Stopper Oct 5 1997 12:15AM Reply #3553 The following are links that were discussed way back early on on the thread. From what I gleaned out of the discussion was that Tava would do the exercising (if I'm using that term correctly) and thus would issue the new shares through their transfer agent. This would not be a 24hour thing, but judging by the last mandatory exchange of shares scenario I just went through with another stock, will maybe take 2-3 weeks. Take a look @the links below. techstocks.com techstocks.com techstocks.com techstocks.com techstocks.com From: Steve Woas Oct 5 1997 4:49AM Reply #3556 It looks to me as if the situation with theTPRO warrant LEVERAGE has changed considerably since post 192. If the stock were to go from 5 7/8 to $7.5 that would be a 28% rise. Yesterday the warrants were $2.75. If the stock goes to $7.5 the warrants are likelly to be $4.25 for a 56% rise. Now I realize that this rise must take place in the 20 day over 6 3/8 closing bid price." From: Andrew H Oct 5 1997 1:58PM Reply #3564 > Now I realize that this rise must take place in the 20 day over 6 3/8 closing bid price.> Is that so? Just because the warrants are callable, doesn't mean they will be called. Does anyone know if there is any way to calculate the chances of the warrants being called? From: David Sheridan Oct 5 1997 2:09PM Reply #3565> <the chances of the warrants being called?> I think the warrants will be called as soon as possible after the 20 days are up. I certainly hope so, if only to get it out of the way. Let's get the float up to where we have enough liquidity for some funds to get in. From: TokyoMex Oct 5 1997 2:38PM Reply #3566 CFO repeatly have said that they will call in the warrants ASAP, as soon as cross the criteria. This will bring in 2.5 million dollars and company can surely use it. From: Frederick Langford Oct 5 1997 4:28PM Reply #3568 TokyoMex, Am I crazy or am I the only one who knows people who been involved with companies that have called warrants, regardless it they hit the stated price to call or not? I wasn't in DSYS when they called their warrants, but my associate was. As I recall, there was some sort of small print that negated that promise. My associate implied that can be done with any company. Since it is Sunday, I have no way of contacting him, so thought I throw it out to the participants of this thread. I will check with him tomorrow and add anything that may shed more light on this subject. From: Tim J. Flick Oct 5 1997 4:30PM Reply #3569 David... Many people are yapping about how boring the stock has become. This warrant discussion is very boring. Trust me. TPRO wants to call in those warrants ASAP. Two reasons: 1. It brings in needed cash to finance rampup of y2k division 2.It stops a majority of the shorting and arbs that are keeeping the stock from exploding. Once the stock becomes marginable and the warrants are out of the way look for the fun to really begin. From: Casey Oct 5 1997 9:25PM Reply #3575 When are the warrants set to expire? TIA. From: David Sheridan Oct 5 1997 9:45PM Reply #3576 Casey - after 20 successive days of closing bid 6 3/8 or better. <eom> From: JDN Oct 6 1997 10:05AM Reply #3595 The company has stated that they will be called as soon as they are eligible. The whole warrant program was devised to provide the company extra cash. .............................. WARRANT DISCUSSIONS: August '97 exchange2000.com Aug 2 '97

To: C.K. Houston who wrote (194)	10/23/1997 8:44:00 AM
From: C.K. Houston	Read Replies (1) \| Respond to of 810

STOCK, MARGIN, WARRANTS, SHORTS, INSIDER SELLING (Rev 10/23/97) ========================================================== Margin exchange2000.com Warrants exchange2000.com -> S-3 (Filed 10/17/97): exchange2000.com Trading, "Shorts" & Stock Manipulation exchange2000.com Insider Selling thru 9/97 exchange2000.com exchange2000.com (S-3) ->General: exchange2000.com Wall Street City Corporate Snapshot - COOL tscn.com Motley Fool TPRO Snapshot hoovers.com TPRO Charts, SEC Filings, News <-Everything keyed in for TPRO ... Just Click dailystocks.com NASDAQ TRADER: Includes Monthly Blocks by MM's: nasdaqtrader.com

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