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To: Redhead who wrote (2153)1/28/1998 7:43:00 PM
From: Andrew H  Read Replies (2) | Respond to of 27968
 
Unibomber and other threaders,

Am I correct that there are more or less 30M shares out and about 9M in the float? I have read that about 70% are held by insiders. Since 70% of 30 is 21, I subtracted that from 30 for the 9M float figure. Do you know if the 30M figure includes the 2.5 to be issued for the Myriad purchase? Also would you or other threaders know if any of those 9M are restricted?

The reason I ask these questions is that if there are about 9M in the float, and the company were to spend $2M buying back stock, at current prices they could buy about 7M shares, leaving a float of roughly 2M. If the company is really headed where the CEO suggests, that could be a big benefit to shareholders. Imagine a company with 2M shares in the float which earns .40/share. Of course if the .40 is coming from acquisitions, there is bound to be more dilution, even if minimal.