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Technology Stocks : Thermo Tech Technologies (TTRIF) -- Ignore unavailable to you. Want to Upgrade?

To: Lawrence Burg who wrote (4421)	7/8/1998 8:55:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 6467

LB, Gary will slip under the radar screen, unless he is considered an "insider" then every transaction is reported. Gary, long time since we talked about this one. How have you been? Zeev

To: Lawrence Burg who wrote (4421)	7/8/1998 11:11:00 AM
From: DDS-OMS	Read Replies (1) \| Respond to of 6467

Larry, <Example: 10M shares outstanding. I hold 1M (yeah right) from a debenture. I am eligible to sell and recoup my discount and do so, dutifully reporting my sales so far totalling 460K. Next day I sell off 50K shares, bringing my ownership down to 4.9%. Am I required to report the last sale? I also assume that the reporting restriction is lifted for any additional sales below the 5% limit; i.e. I slip off the radar screen. ?.> The sale that brings you below 5% would have to be reported. Any further sales wouldn't have to be reported unless insider rules apply. If the seller is an offshore holder and he doesn't sell through a US broker, he isn't subject to SEC rules regardless of percentage owned--which is why you never see Reg S or D sales reported. When Olympus and Nelson partners sold TTRIF Reg S shares in 1996, they sold some through a US entity and that was reported--but sales before and after that weren't. Regards, Gary