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To: edward shapiro who wrote (2741)	2/11/1998 4:27:00 PM
From: Eric Maggard	Respond to of 4276

Look at the list of new debentures, Message 3384353, and when they were known in the SEC filings and then look at this post: exchange2000.com . So, even when they were doing more offerings, they were publicly telling the owners that they were all converted and were doing no more. Like you said, the smallest one would add enough to get us close to 3.5 mil outstanding and there are several big ones that are going to add much more. I wonder why the "management" is not going to post on SI anymore. From 20 to .32. Whose value are they increasing? Eric

To: edward shapiro who wrote (2741)	2/11/1998 4:32:00 PM
From: edward shapiro	Respond to of 4276

Correction of the end of my previous post : "Even the debenture for $175,000, which is being converted now works out to about 729K shares at a .30 stock price. That is almost enough to get us to the 3.5 million" The filing I was referring to was : SEC Filing 1/13/98 (Amended - Unknown if New or Amending Previous) Debenture Issued 12/23/97 Face Amount $175,000 Discount off Face None Disclosed Conversion Ratio 65% Fees to Underwriter 10% The conversion rate is 65% and I used 80%. New conversion number @.30 is .195 per share. This works out to about 897K shares. Only about 170K difference, which is significant when we are talking about a total of 3.5 million shares.

To: edward shapiro who wrote (2741)	2/11/1998 4:46:00 PM
From: Marty Rubin	Read Replies (2) \| Respond to of 4276

"Did you ask Omar where he came up with his 3.5 million share number?" It may be after another 1-20. In this case, the numbers may lie, but never Omar. It's hard to blame him. The echo controls the talking. Now who did you say is the "echo"? BTW --All this money may give me a clue on "management's" hourly fee. I think it's more than what a lawyer makes.... What I think is, if it's so easy to raise money, why don't he raise another $5M and give us all the money we have lost? That should keep me quiet for a while. I did say for a while. But it'll never happen so why worry about being politically correct?