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Technology Stocks : Osicom(FIBR) -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (7053)	5/31/1998 8:25:00 AM
From: Bryon Bothun	Read Replies (4) \| Respond to of 10479

Well it appears that the 13D filed on Sept 30, 1997 accounts for more than enough shares to lower pars total by over a million. I think that filing and these numbers make it pretty clear that he did indeed sell shares. Or he has given them away. Supposedly these companies were set up for estate planning purposes and intended for someone else all along. So the question now is, is this a good or bad thing? The twisting and confused ownership structure involving Par and all of these companies has been a source of many allegations for some time. It would be nice to have these things all cleared up. If Par does indeed buy the convertable as he has said he will, then his ownership will be roughly the same once that is done and all of those "shell corporations" will be out of the picture. I'm glad that he is drawing a salary. I think it sounded fishier that he wasn't. Even a borderline new CEO is likely to cost 4 or 5 times more than he is being paid and I've wondered how it would affect the G&A expenses to suddenly and a hefty new salary. This at least gets something in the budget. If these "shells" are now out of the way than I find that I am oddly relieved that Par has sold some shares. Bryon

To: craig crawford who wrote (7053)	5/31/1998 1:48:00 PM
From: Robert Gordon	Read Replies (2) \| Respond to of 10479

ok lets compare Directors 11/97 5/98 change Leonard Hecht 167,392 164,992 -1.5% Humbert B. Powell III 145,097 195,097 34.4% Xin Cheng 196,945 163,648 -16.9% Par Chada 2,426,551 1,180,119 -51.3% new director Renn Zaphiropoulos 0 11,667 N/A old director Sharon G. Chadha 908,364 ? N/A The only red flag I can see is Par. I can only hope that PAR sold at 4-6 dollars because it was the advantage of the shareholders. I would be very disturbed to find out he sold in order to get the funds to buy back his position with the convertable shares. Barry Witz and Sharon Chadha may or may not have sold their position. In fact they could have increased it. At 20 million shares outstanding they would need a least 2 million shares to have to file to sell or buy. Of course we could hire them back as directors and find out their total position.. But that would probably be a bad idea.