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Technology Stocks : AXSI - Axcess Inc. (formerly LASX) -- Ignore unavailable to you. Want to Upgrade?

To: John A. Paul who wrote (845)	4/18/1998 11:14:00 PM
From: John Arnopp	Respond to of 1220

John, I realize we are all pawns in this game; but I hope it is a winning game. I must confess that the final end of this company and it's involvement with XL Vision (they want over 20%!) has been and is still beyond me. Even with all the disclosures of the technology transfer agreement, I still cannot find the "key" to the success story that I'm sure lurks there. Perhaps that is why the stock has traded in such a narrow range for so long, or perhaps I am just too dense. Good luck--I'm looking forward to the annual report that should be coming with the proxy, --John

To: John A. Paul who wrote (845)	4/19/1998 4:34:00 AM
From: Andrew Spurlin	Read Replies (1) \| Respond to of 1220

If you are referencing the Preferred stock issued that stock has a value of $10.00 per share. That means no matter what happens to the value of the underlying stocks value this preferred is worth $10.00 For instance if they were to convert today at a price (rounded to $5.00 per share) they would get 2 shares of AXIS common for each share of preferred converted (1.1 million shares of common if all converted) If they waited till the common was at 10.00 then it would be 1 for 1 (550K shares). The preferred also pays a nice dividend 8%. Hope this helps. Andrew