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To: fred whitridge who wrote (2590)	11/6/1998 7:58:00 PM
From: WALT REISCH	Read Replies (3) \| Respond to of 8393

Fred, I appreciate you trying to explain this. As I mentioned to Joe, I'm not an accountant and I am having trouble understanding some of this. From what you said, or at least a part of what I think you said is, it is possible that they (Sanyo) could pay a higher price for Ovonic shares, then what the market has valued ECD shares. Is this correct? I think I better dig out my account book and review some of the points covered here, regarding the balance sheet and the Income sheet, while waiting to hear the ruling by Mike and the Prof. Joe: don't get me wrong, I appreciate you trying to help me understand the accounting.

To: fred whitridge who wrote (2590)	11/6/1998 8:48:00 PM
From: jacq	Read Replies (1) \| Respond to of 8393

Hi Fred I this is a capital gain. they are selling Ovonic Battery stock which is carried on the books at near zero. See page 31 of the 1995 10-K The Honda agreement was classified as other income and taken into revenue for the 1996 fiscal year.