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To: Trader X who wrote (1956)	1/6/1998 1:26:00 AM
From: TEDennis	Respond to of 3391

Kevin: Re: 1 million @ 4.00 ... Very interesting tidbit of information. Please explain to this non-accountant software techie what you just said. How did issuing options at 4 make the price slip to under 4 ?? 338,500 in 22 equal monthly installments. Does that mean that each and every month there will be additional dilution of 15,000 shares? Was this a "fully automated" stock option exercise program, or must Mr. Bishop exercise them manually at a time he deems proper for his own financial situation? It's sure a lot easier to determine whether software works in a given environment than it is to understand these financial thingeys. TED