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To: John Kratus who wrote (13076)	11/26/1997 7:53:00 AM
From: Maywood	Read Replies (3) \| Respond to of 18263

How can the "transaction costs and the tax liability" on 100,000 shares be 60,000 shares? Even supposing the exercise price of the options was next to nothing and assuming it's all profit, why would the tax liability be 60%? There is no 60% tax bracket! Jack's still using the excuse that companies are delaying their Y2K work. "However, we continue to feel the frustration of delay with regard to the Year 2000 market. We are effectively using this time to position ourselves within the Y2K market in order to capture our share of that market." This seems totally bogus (Other Y2K companies don't seem to have trouble getting work!) Is there any truth to this?

To: John Kratus who wrote (13076)	11/26/1997 9:55:00 AM
From: CalculatedRisk	Read Replies (1) \| Respond to of 18263

Does Jack King think the shareholders are STUPID? He claims his decision to sell "was driven by the need to cover costs and the resulting tax liability". This is typical Jack The contract is on my desk King. He implies one thing (just covering my taxes friends) when the TRUTH is far different. Is Jack King in a 60% tax bracket? Didn't think so! So JACK is putting serious DOUGH in his pocket! And what is his basis on the remaining 40,000 shares? How about 12 1/2! This means he can sell the shares with no taxes at 12 1/2 in the future. If he sells at a lower price, JACK KING will have a nice FUTURE tax loss! Does JACK KING think the shareholders are STUPID? The answer appears to be YES!!! Regards, Bill