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To: Robert Gordon who wrote (7059)	5/31/1998 7:46:00 PM
From: Bryon Bothun	Respond to of 10479

>> 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.<< I think I've heard it said before that in this case it is not possible for him to sell shares on the open market and then purchase a convertable and convert at a lower price than he sold. (I know David P. mentioned this also but I've read it somewhere else in the last couple of years.) He may have sold to free up cash to buy the convertable, but he cannot convert at a better price than he sold so unless the share price increases again to over $4 he may end up converting at a price that is HIGHER than the market price at that time. I'm not absolutely certain about this but it seems logical. Does it say somewhere in the latest 14a that he still has options for about 550,000 shares through Rand Research? I think that means that he either sold the shares in his own name or those in R II Partners. Can we find out which? Bryon

To: Robert Gordon who wrote (7059)	5/31/1998 10:39:00 PM
From: craig crawford	Respond to of 10479

<< 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. >> I don't think so. You have to file if you beneficially own 5% or more. If Sharon or Witz increased their stake it would be reflected in SEC filings. I think they unloaded shares. You can also be sure that if they increased their stakes D. Pawlak would have been told and he would be trumpeting it up here on SI.