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To: JIN CHUN who wrote (2211)	1/29/1998 2:06:00 PM
From: Andrew H	Respond to of 27968

Coincidence--I have a call into her myself and am waiting for a call back--thanks. Don't have the IR package--if I am going to buy in, it will be before the audited financials are released. So I will have to do it without the packet--my primary concern at this point is how much further dilution will be required for the planned acquisitions--these guys are obviously on the acquisition track which is great, but when growth is too fast, a lot of problems can occur. Of course, as you say, its a BB stock and risky, so that needs to be factored into the equation.

To: JIN CHUN who wrote (2211)	1/29/1998 4:53:00 PM
From: Andrew H	Respond to of 27968

Well, Jennifer never did call me back, but I listened to the conference call. Most of it sounded ok, but the dilution has me concerned. The speaker said that earnings would be around .11 for the year, but only .02 for the last Q, BECAUSE of the additional shares out. He also said that they intended to borrow 12M for acquisitions from the line of credit over the next year. It sounded like that would be covered by stock, although not "at the bid." At current prices that would require the issuing of about 42M additional shares. If they dilute to that extent, eps would be greatly diminished and the share price would suffer dramatically. I will give the company a call and ask them about that if someone will provide the number.