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To: Market Tracker who wrote (5247)	12/8/1997 8:49:00 PM
From: J Krnjeu	Read Replies (1) \| Respond to of 10368

>3. Does anyone know exactly what the "sales restrictions" are on these newly issued shares? >I don't know exactly, but 2-3 years seems to stick in my mind. Please clarify the above point. The shares obtained from warrant conversion can not be sold/traded for 2 or 3 years? The person converting them must hold them for 2 or 3 years? Thanks -- JK

To: Market Tracker who wrote (5247)	12/8/1997 11:08:00 PM
From: T.K. Allen	Respond to of 10368

Followup questions regarding Falstaff5's (F5) management gripes: 1. Regarding the Preferred Stock situation: I can understand why BNGO may have authorized Preferred Stock in the beginning. What I don't understand is why no Preferred Stock shares were issued until 3rd Quarter, 1997. F5 seems to be making the argument that this was done to boost the 3rd Qtr. net income number on the 10Q and enrich Preferred Stock holders. Is there some other reason why no Preferred Stock shares were issued until 3rd Quarter, 1997 or is F5 making a valid argument? 2. Regarding the $5 warrant price. I presume the warrant parameters (including the $5.00 conversion price) were established long ago at the time of their creation. Surely this information was available for anybody who thought to request it from BNGO. I guess my question is whether or not $5 is unusually high or low. If people were upset about the $5 conversion, imagine how they would feel about a $20 fee! But is it customary to establish conversion prices substantially lower than $5? 3. Regarding shares issued during acquisitions. I presume sales restriction information is available from BNGO upon request. Perhaps they would post details of these restrictions in their next Q&A update. I'm curious to know if these restrictions are absolute prohibitions on sales until 2-3 years in the future or if the restrictions are more flexible - like "no more than X shares can be sold in any given month" or some such. Thanks, MT, for your response. I'd sure appreciate anybody else's opinions. Rodney, Que, anybody? TKA