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To: WALT REISCH who wrote (2565)	11/4/1998 9:07:00 AM
From: Futurist	Respond to of 8393

I have definitely not! heard this rumor, but I sure would like it to be true.

To: WALT REISCH who wrote (2565)	11/4/1998 10:04:00 AM
From: E Haiken	Read Replies (1) \| Respond to of 8393

It would seem to me that the quarter in which the $8,000,000 is booked for the sale of Ovonic stock & the license to Sanyo, will be profitable. If this was a trend I think it would have an extremely positive effect, but if it is just an isolated profitable quarter, to be followed by future loss quarters, it will have a less dramatic effect. However, if more licenses are sold & there is positive news re DVD, photovoltaics, etc, etc, this could be a defining moment. I wouldn't recommend being short on this stock!!

To: WALT REISCH who wrote (2565)	11/4/1998 9:22:00 PM
From: Michael Latas	Read Replies (2) \| Respond to of 8393

First of all, I honestly hope you're right. But down deep I have serious doubts. We all would like to believe rumors, to the degree that they suit our own self interests. However, the facts speak otherwise as it would relate to a possible profit for our first quarter earnings report. In my humble opinion, we can consider ourselves fortunate if we can continue to reduce our loses from one quarter to the next. That seems like a reasonable possibility. It looks like we are continuing to move in the right direction. As it would relate to the eight million dollars we are to receive from Sanyo, it will depend upon when we actually receive the money. This may or may not come in this current quarter. When it comes to impacting on our earnings report it is not when the "order was booked", or date the agreement was signed, but when we actually receive the money. If, by chance, we receive the eight million during this current second quarter that should be sufficient to provide a positive earnings not only for this second quarter, but for our first six months. That will reflect positively upon ECD. However, we won't know this until six weeks after the close of our second quarter, which will be @Feb 15th, 1999. As it would relate to dividends, it will be a long way down the road before ECD reaches the position to declare dividends. Any excess profits should go towards manufacturing, which will be the case. Isnt't that what we all need badly? I hope I haven't burst anyone's bubble. In the meantime, I continue to acquire more ECD stock as a long term accumulator. Again, you either believe in ECD or you don't. I'm not talking as a cheerleader, but as a businessman. Do your due diligence on ECD and where it stands in its three core technologies and beyond. Dig as deeply as is humanly possible. Let the chips fall as they may. You should become convinced beyond a shadow of a doubt that you are backing a winner, or not. Please understand, being convinced that you are backing a winner does not make it so, no different than betting on a horse at the race track that you have thoroughly researched. It's not quite that simple. What I am suggesting is that there are too many companies out there to place your bets on. There is something out there for everyone. I honestly don't believe there is an investor in ECD that has any doubts about the advantages of their technology. The question everyone is looking for an answer for is WHEN WILL ECD BE IN THE WINNERS CIRCLE and when will the rest of the world become aware of it? Again, in my opinion, it looks like we are moving towards profitability at long last. Comments? Regards.