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To: Ga Bard who wrote (1464)	5/29/1998 1:17:00 PM
From: Jay Lowe	Read Replies (5) \| Respond to of 4142

Clarification and dispelling of latest warrant rumor ... So, let me see if I can summarize, GB. You have talked to Dan Fisher twice since the rumor arose. It is Dan's position that he would PREFER the warrants to be exercised by the end of June, but there is NO REQUIREMENT to do so AND in fact there CAN BE NO SUCH REQUIREMENT according to SEC rules and the current filings under which the warrants are being issued by the company. The WORST thing that can happen according to the current filings governing the warrants is that the company MIGHT recall them if the stock price exceeds $2.50 for 10 days, but the company would have to provide a suitable warning period (what? 30 days?). So even if the company wants to recall the warrants, we still have PLENTY of time to exercise them first, which would be a fine thing for us with the stock price over $2.50. Furthermore, exercising the warrants is not necessarily a cash-out operation. One can exercise a batch, sell the common, exercise another batch, etc ... so no one will be caught strapped for cash. Indeed there are various different cash strategies for converting the warrants to common, and we here on the thread will support any warrant holders in understanding their options. The only downside to the exercise of lots of warrants is that it increases the amount of circulating common which may create temporary downward price pressure. Even this will not occur if the investors exercise the warrants and hold the resulting common, which is, in fact, the best outcome. Is this an accurate summary of the situation? Please correct me if I've made any mistakes. [Disclosure: I hold a large warrant position and am not worried]

To: Ga Bard who wrote (1464)	5/29/1998 1:55:00 PM
From: Dave Gore	Read Replies (1) \| Respond to of 4142

Gary, I believe your synopsis, but I got to tell you that DAN was NOT speaking to me as if the $1.25 warrant call price was his WISH OR WANT! I am sure you are right, as the Company or one of it's officialls canNOT wish something to happen. They HAVE to stand by their press release. However, Dan told me that June 30 was the final date to buy the warrants and get the 50 cents conversion price. He clearly told me also that the stock only had to close at $1.25 for 10 days. Bad move, DAN!!!! This is very clearly a mistake on his part, but he should be reprimanded for even bringing this up. Pisses me off. There is already enought confusion and bs abounding here. **************** So, to clarify once and for all and correct me if I am wrong: Based on the press release: If you buy the warrants, regardless of when, you will at SOME POINT SOON, be able to convert them to a common share for 50 cents. If the common closes at or above $2.50 (not $1.25) for 10 consecutive days, the company has the right, at their option to call all warrants due, giving us warrant holders 30 days from date of notification by the compnay to exercise or sell our warrants. Finally, there is no June 30, 1998 deadline date to either... a) exercise our warrants at the 50 cent rate or lose the warrants automatically to the company or b) buy the warrants by June 30 or lose the right to exercise them later at the 50 cent rate (i.e can only convert for $1.00 after June 30)..... CORRECT? OK? FINAL? THIS IS THE WAY IT IS? Simple YES or NO