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To: eric deaver who wrote (108)4/10/1998 10:13:00 AM
From: Secret_Agent_Man  Read Replies (1) | Respond to of 4761
 
Eric, you own the warrant, but others that want a discount on the shares would be willing to pay more than $3.75 for the warrants
especially if the stock runs past $10.00 and they are called.

There is a thirty day period and this stock could easily be well past $10.00 by then and those with the warrants would be at as premium.

bg



To: eric deaver who wrote (108)4/10/1998 11:12:00 AM
From: Gerald L. Kerr  Respond to of 4761
 
eric, even if the company calls the warrants @ $10, there is a 30-day period before the warrants must be exercised.

So during that 30-day period, the warrants would continue to track with the price of the stock according to the formula:

IFLYW= (IFLY - 6.25) + (Time-Value-Premium)

So if the stock continues to go up during that 30-day period, so would the warrants; If the stock goes down, ditto the warrants.

Gerry


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