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Technology Stocks : ATPX: Lunn Industries and Technical Products Group merge. -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (755)	11/7/1997 9:30:00 AM
From: Emec	Respond to of 1923

Just notices that most everyone that was shoet in LUNN got out before the merger. viwes.com

To: Sergio H who wrote (755)	11/7/1997 10:03:00 AM
From: Emec	Read Replies (2) \| Respond to of 1923

Sergio and all, I just received a call from Jim Carter, Chairman and CEO of ATPX. Regarding earnings, LUNN's separate earnings should be released within the next couple of weeks. There will be no combined company earnings release until April which will be full year numbers. I asked about other releases rrlated to contracts and he said that there are contracts that had been negotiated before the merger so they decided not to release them. Also that they are negotiating other contracts currently. Nice guy but seemed to struggle with his answers, particularly about contracts.

To: Sergio H who wrote (755)	11/7/1997 1:16:00 PM
From: Lee Bush	Read Replies (1) \| Respond to of 1923

Sergio: Re: Dillution on the merger. I have reviewed the S4 on Edgar and it appears that this merger is very favorable to LUNN. The bottom line is that LUNN will earn .91 per share (new) vs. .06 (old), or .60 (new), a gain of 50% on earnings. Lunn shareholders end up with 1.46 of the 3.54 mil. shares, or 41% of the company. This does not take into account the 1 mil. preferred shares transferred to the new company from TPG. Also, these figures are before possible adjustment for declining income by TPG next April in the event that TPG income falls short, a form of protection for LUNN shareholders of record prior to the merger. It appears that they are being careful concerning the granting of new shares for the investment bankers, etc. I do not presently own any LUNN shares, but am watching the behavior of the stock. Volume is low, thusfar, which I interpret as negative for the short-term performance of the stock. Lee