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To: Frank Buck who wrote (14)	2/3/1998 12:58:00 PM
From: edward shapiro	Read Replies (2) \| Respond to of 54

Frank, Thanks for the numbers. A few questions about them. 1) Where did you get the numbers from? 2)In the estimates for 1998 and 1999, income is a constant 20% of revenues. Shouldn't there be any increase in margin after the revenues increase 6 times? There has to be some fixed cost somewhere. 3) Any idea why they are already planning to issue more shares? Any idea if these will be a split or a secondary offering? TIA, Ed