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To: JOHN WHITE who wrote (15335)	5/6/1998 1:22:00 PM
From: JIN CHUN	Respond to of 27968

John, that's a good question. I don't know, but I would think that the amount of shares presently owned would be a consideration. Jin.

To: JOHN WHITE who wrote (15335)	5/6/1998 1:30:00 PM
From: Jim Spitz	Respond to of 27968

To all, 1) Restricted shares count towards full dilution, but do Warrants? I wouldn't think not since not all warrants get converted. There are usually a small number which fall through and lapse. 2) I like Ira's plan. 3) I don't think the warrants would be immediately redeemable because, why do a consolidation and then eliminate half of it immediately. This wouldn't be a good scenario. They should be held at least a year to really get the most good from them for both Firamada and the shareholders. 4) I believe that we will see the financial reports published by Friday. Therefore I am comfortable, today. Looking at all the company has and is doing, I'll hang in there. 5) I don't blame people for having doubts, since, there have been delays and they are not timely communicated. If the company has delays, they should be acknowledged in a timely fashion. Communication has improved some, but not enough. Stay in the Black! jimS back from my haircut, finishing a Subway sandwich.