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

To: GerryMiles who wrote (4361)	10/27/1998 8:23:00 PM
From: Bobby Mac	Read Replies (1) \| Respond to of 11417

I own shares of WAVX and Alladin Knowledge Systems (ALDNF). Alladin is part of the consortium in today's press release. I am new to this board but I have not seen anyone post anything about the fact that Alladin owns Wave stock and has warrants to purchase up to 15% of the outstanding shares at approximately $2.50 per share. This comes directly from Alladin's 1997 annual report."On June 30, 1997, the Company invested in Wave Systems Corp. ("Wave") an amount of $900,000 in consideration of 500,000 shares of Wave's Class A ordinary shares, which constitute approximately 1% of Wave's share capital, and warrants to purchase up to 15% of Wave's outstanding shares." I called Alladin's investor relations and they told me that the exericse price of the warrants is around $2.50. They couldn't tell me and I don't know exactly what Alladin's current position in WAVX is. I do know that Alladin realized a net capital gain of $460,000 by selling shares of WAVX stock in the second quarter of 98. There were some posts on Yahoo's message board that Alladin sold shares in the third quarter as well. So, as far as funding Alladin is a source through the exercise of the warrants. Alladin has enough cash on their balance sheet to purchase a significant amount of WAVX at the exercise price. Also, I don't understand why but Alladin has sold WAVX stock in the past. This makes no sense to me since Alladin has a strong cash position. However, selling by Alladin puts downward pressure on Wave's share price. Good Luck to All, Bobby Mac