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To: Peter Lochowicz who wrote (719)	3/2/1998 6:14:00 AM
From: Arthur Tang	Read Replies (1) \| Respond to of 1471

Thank you, Peter. Stock options and warrants for employees do not effect any thing at all. Most employees just put one foot in front of the other. They do not know how well the company is doing. Some exceptions are marketing and sales people or accounting people. Warrants sold on the market seldomly are converted to common stock. Most of the time they expire out of striking price. Same as stock options for employees. But options in Chicago and at AMEX do influence stock market on bewitching date, which has been change to the day before friday(both Chicago and AMES may buy and/or sell large baskets to effect the stock prices); and some early morning margin call results on the next morning.