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To: TokyoMex who wrote (6453)	11/23/1997 12:25:00 AM
From: Jack Zahran	Read Replies (1) \| Respond to of 31646

TM, can TPRO change the terms of the Warrants? Or, are the Warrants written in stone? eom

To: TokyoMex who wrote (6453)	11/23/1997 7:09:00 AM
From: JDN	Read Replies (1) \| Respond to of 31646

Dear Joe and all: Some of you are getting confused between "Shareholders Value" a term on the Balance Sheet and "Investors Value" the value to YOU. Shareholders value will go up 6 million (less expenses) on the Balance sheet. Since $6 per share is more than existing $1 share book value the PP is ANTIDILUTIVE from an accountants perspective. However, since their are NOW 1mm more shares which must be divided into earnings the per share earnings will fall (I presume about 4%) from what they would have been-so from an Investors viewpoint it is dilutive. Good news is if there is a loss it also will fall per share, haha. JDN ps: I guess that last comment really isnt funny.