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To: Nittany Lion who wrote (5353)	12/9/1997 9:01:00 PM
From: ted w. kentzel	Respond to of 10368

To all; The sole important question now is how many warrants are still outstanding? How many people are holding warrants they cannot afford to convert? (Is it possible to call the transfer agent and check?) I don't believe management owned the warrants and therefore aren't a big source of conversion. If we reach next Thursday with 1M warrants still looking for a home, it could be a bloodbath for three days. If this does happen, I don't think management will extend the call that close to the end. I believe this Friday will be a precursor to the final week. If we don't have warrant volume over 150,000 and a mini-panic, I believe the last week will end just fine. Ted

To: Nittany Lion who wrote (5353)	12/9/1997 9:06:00 PM
From: Nittany Lion	Read Replies (1) \| Respond to of 10368

I was very pleased with the warrant Q&A forum. Afer reading the subsequent posts a couple of points did not seem to be discussed: <<We selected December 22, 1997 as the latest reasonable date for exercise prior to the holidays. We currently have no plans to extend this date.>> Which tells me that "if" for some reason the price fell below $5 prior to 12/22, they could and would extend the call. I believe we were wondering as to this possibility. <<We have provided guidance to analysts who are preparing financial reports on the Co. We have provided them with the following base assumptions for 1998......>> "Analysts" - I was aware of just the one - does this mean someone else is about to come onboard? Gary

To: Nittany Lion who wrote (5353)	12/10/1997 9:21:00 AM
From: Max Fletcher	Read Replies (2) \| Respond to of 10368

Nittany Lion: It would be significant if we can confirm that wash sale rules would not apply between BNGO/BNGOW. Anyone who bought warrants in the $3-4 range could buy the stock @ $6, sell the warrants @ $1, end up with the same # of shares of BNGO in their portfolio and have a 1997 tax-loss in the bargain. Max