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Technology Stocks : WAVX Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: andrew peterson who wrote (3664)	8/18/1998 1:52:00 AM
From: Pure Folder	Read Replies (1) \| Respond to of 11417

Andrew, the short answer is that the 10-Q does not say anything about "shares entering the market," if by that you mean sales of Combination, Inc.'s stock which has been converted from the preferred stock issued in the March, 1998 Reg D private placement. Total outstanding Common A went from 23 million shares to 26.2 million shares as a result of the following: Exercise of options: 2,187,250 Conversion of Common B to A: 424,515 Employee compensation: 57,084 Conversion of Series G Preferred: 678,338 The last category is Combination, Inc., which will still be able to convert its preferred stock to Common A for about 1,653,000 more shares of Common A. As of June 30, 1998, Combination Inc. had only converted about 1/3 of its holdings. We have no idea how many of the converted shares it has sold. By the way, in its agreements with WAVX, Combination, Inc. may not convert its shares so quickly that it becomes a greater than 4.9% shareholder at any given time, which in turn means (I believe, without checking) that it does not have to report its sales to the SEC. Of course, we do not know if it has converted more shares and/or sold shares in the 1 1/2 months since the end of Q2. Congratulations on your publishing venture. I hope to take a look when I have more time. Pure Folder