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To: Ed Flynn who wrote (6163)	5/9/1998 9:13:00 PM
From: sibe	Respond to of 10786

From Alydaar 10-K "The Company also intends to target European financial institutions and other affected businesses for an automated solution to the conversion of software for the change of the various European currencies to the "Euro" which is anticipated to begin by January 1, 1999. The Gartner Group Inc. estimates that the changeover to the "Euro" will cost $150 Billion to $400 Billion to upgrade existing computer systems for financial institutions, other businesses and governments. There can be no assurance that the Company will be able to effectively penetrate this market since at the present time the Company is still in the process of developing a SmartCode tool for the conversions and as such may not be successful. In addition, competitors may be much further advanced in t heir development of an effective solution and may be able to introduce their solution earlier than Alydaar can." As I said, Alydaar has "talked" for a long time about doing Euro work, but I have yet to see anything concrete. Not even one advertisement for Euro work or announcement that they are doing even a pilot contract with a named or unnamed company.

To: Ed Flynn who wrote (6163)	5/9/1998 9:39:00 PM
From: Tech Master	Respond to of 10786

Ed- From page 7 of the Alydaar Annual Report: FUTURE PLANS AND STRATEGY: The Company recognizes that the life cycle of Y2K business is limited. While computer industry experts, such as the Gartner Group, Inc., estimate that the Y2K business will continue through the year 2003 because the limited amount of time remaining before January 1, 2000 is forcing companies and government authorities to focus their immediate efforts on remediating only their "mission critical" systems, the Company anticipates that there will be a decline in the volume of Y2K business after the year 2000. At the present time, the Company has developed an aggressive acquisition strategy to acquire companies which are engaged in the business of providing a broad range of computer services and products to position the Company for continued growth after the year 2000. At present time, the Company is engaged in preliminary discussions with several acquisition candidates. The Company believes that the current general trend is for large companies to retain independent contractors to manage and to take responsibility for day-to-day operations of their Information Technology departments, which is known as "Outsourcing or "Systems Integration." The Company intends to position itself as an outsourcer or systems integrator through its acquisition strategy and also by leveraging existing client relationships. Utilizing SmartCode, the Company believes that it can automate many of the outsourcing processes and tasks, and, as a result, achieve a significant competitive advantage and increase profit margins from outsourcing. However, there can be no assurance that the Company will be successful in its acquisition strategy or penetrating other markets. Moreover, such acquisition strategy will be dependent upon the ability of the Company to raise sufficient additional capital through internal cash flow or debt or equity offerings. there can be no assurance that the Company will be successful in raising such additional capital. In addition, the Company currently has approximately 60 of its employees engaged in research and development activities, including the further adaptation of SmartCode to offer additional re-engineering services, such as conversion of the European currencies into the "Euro" as described above; conversion of financial institution's software for the mandated conversions from fractions to decimals for stock transactions; and to offer sophisticated language translation services such as converting software code from COBOL 68 to COBOL 370.