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Technology Stocks : IFLY - travel sales on the web pure play -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (97)	4/9/1998 11:47:00 PM
From: Logistics	Read Replies (2) \| Respond to of 4761

Comparison: KTWO - 3 11/16 KTWOW - 21/32 STRIKE PRICE KTWOW - $7.50 - 2001 IFLY - 6 31/32 IFLYW - 1.03 STRIKE PRICE IFLYW - $6.25 - 2003 LOOKS LIKE COMPARATIVELY SPEAKING IFLYW IS WAY UNDERVALUED. LOWER STRIKE PRICE - LARGER TIME PREMIUM - ALMOST DOUBLE COMMON!!! Should be worth 2X KTWOW (21/32) = $1.30 plus factor in much more for $1.25 lower strike price and 2 years time premium that IFLYW's have. Any thoughts? JL

To: Secret_Agent_Man who wrote (97)	4/10/1998 2:59:00 AM
From: RBB	Read Replies (2) \| Respond to of 4761

If strike price is $6.25 and the stock is at $10.00 then the value of the warrant would be $10.00-$6.25+time premium = $3.75+time premium. For example, current value of warrant is $1.03 = ($7.00 - $6.25 + time premium). Therefore time premium in this case is $0.28 for almost 5 years(1998 to expiration date of 2003) which is very low. I think premium should be much more because we have 5 years and that means currently the warrant should be more than current trading price of $1.03 and if the strike price of $6.25 is correct as every one is posting on this thread, warrants will open high on monday. This is just my opinion and please correct me if I am wrong. -Rambabu

To: Secret_Agent_Man who wrote (97)	4/10/1998 10:07:00 AM
From: eric deaver	Read Replies (2) \| Respond to of 4761

Maybe I'm missing something but why would anyone ever pay more than $3.75 / share (assuming the company calls at $10.00) for the warrants. Lets say you pay $4.00 / share for warrants and you have to pay strike price of $6.25 to exercise. That a total of $10.25 / share. If the company calls at $10.00 you must exercise and you would then be paying $10.25 for a $10.00 stock. I do not see the warrants ever going above $3.75 unless the company does not call. Eric