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To: mod who wrote (511)	7/16/1998 11:28:00 PM
From: John F. Dowd	Respond to of 994

Better deal than PLC worked out but looks like there is a temporary cap at 10 and change. This therefore looks like dead money until the bonds are converted and the apparent dilution is offset by delivery of product and subsequent revenues. Personnel reduced by 1/3 which should give them maybe another 2 mos. This is definitely crunch time. Can anyone see any reason for staying on board this leaky while they paddle furiously? JFD

To: mod who wrote (511)	7/17/1998 12:27:00 AM
From: oki kwon	Read Replies (1) \| Respond to of 994

Dennis,do you think ocom will finish product this Q as Rogers said in press release? This financing looks to me emergency loan to get through till they complete the product. Looks like they wants to payoff in 90 days when they receive money for inventory. So detail of this deal seems not important to me. oki

To: mod who wrote (511)	7/17/1998 6:58:00 AM
From: tonto	Read Replies (1) \| Respond to of 994

The Debentures held by the Institutional Investors may be redeemed by the Company, at its option, at any time on or before October 5, 1998. The Debentures held by the Additional Investors are subject to mandatory redemption by the Company on January 5, 1999, provided that the Company has previously redeemed the Debentures held by the Institutional Investors. The Debentures are redeemable at a redemption price per Debenture equal to 110% of the principal amount of the Debenture, plus any accrued and unpaid interest thereon. Upon such redemption, if any, the Company also is obligated to issue to the Institutional Investors warrants to purchase an aggregate of up to 125,000 shares of common stock of the Company, par value $.01 per share (the "Common Stock"), and to the Additional Investors warrants to purchase an aggregate of up to 50,000 shares of Common Stock, all at an exercise price of $11.00 per share (subject to adjustment as provided therein). The Investors also have agreed that, prior to October 6, 1998, neither they nor their affiliates will take a "short" position in the Company's Common Stock, unless at the time the position is taken the price per share of the Common Stock as reported on the Nasdaq National Market is greater than $10.87. SHORT clause looks wide open to me. Warrants to buy stock at $11.00 We knew the company would be behind the eight ball in getting financing, now how can this affect the stock price? Comments?