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To: Tim J. Flick who wrote (7377)	12/16/1997 10:07:00 PM
From: Jack Zahran	Read Replies (1) \| Respond to of 31646

Tim, Renn only registered 25,000 shares. The only additional stuff was from the PP, everything else, I believe was talked about as part of their potential outstanding for some time now. The S-3 mentions restrictions on Renn to selling only a certain percentage per year. All in all, no surprises since the PP is already old news.

To: Tim J. Flick who wrote (7377)	12/17/1997 1:20:00 PM
From: jan m.	Read Replies (2) \| Respond to of 31646

Tim--You have been in the market a long time as a trader, can you explain a couple of things that are still confusing me? Is this registration of stock different than a 144--insiders intending to sell? And JDN mentioned that even though these shares are being registered it doesn't mean that they are going to be sold in the near future. But RenCap is selling 25,000 shares now--that means over the past few days? And the last question, you feel that the float and shares being registered are not a problem for a nice runup on good contract news, or earnings? Thanks for your help. Jan