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To: Crossy who wrote (1004)	5/27/1998 10:58:00 PM
From: TI2, TechInvestorToo	Read Replies (1) \| Respond to of 1305

What if the debt is a lease? What happens to your analysis? TIA TI2

To: Crossy who wrote (1004)	5/28/1998 10:23:00 AM
From: Investor2	Read Replies (1) \| Respond to of 1305

Re: "Also beware that the long term asset "eqipment" in the yearly 10-K reports jumped from 8 million to over 38 million in just over 2 years (from 1995 to 1997). ... Also about half of old eqipment should already have been depreciated, making the investment appear even better. " You said that the 10-K report lists the value of "equipment" as $38 million. Under standard accounting practices, I believe this is the value of the equipment being carried on the books after depreciation. Thus, in order for your statement, "half of old eqipment should already have been depreciated" to be true, the original cost of the equipment would have to have been $76 million. Best wishes, I2