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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Steven Bowen who wrote (7985)	8/28/1998 12:33:00 PM
From: gabor boda	Respond to of 12468

Why not sell puts against your stock positions, to at least lock in the current price.

To: Steven Bowen who wrote (7985)	8/30/1998 10:38:00 AM
From: Gary Kline	Read Replies (1) \| Respond to of 12468

Steve, The Morgan Stanley briefing you posted back on 8/10/98 showed 61.3 million shares outstanding with a market cap of 1.9 billion; yet the company released a 38.1 million weighted average shares outstanding. Any idea where Stephanie came up with her numbers? I cannot see where this dilution of 23 million shares is in the 10-K. Thanks in advance and appreciate your insight along with Steve G regarding the on-net percentages and subsequent margins. It was very clear at the annual meeting 1 1/2 years ago that Nate and Bill both thought it was critical once Winstar was in a market 1-2 years- margins had to come from having the customers fully on-net. Gary