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To: jacq who wrote (2594)	11/7/1998 8:48:00 AM
From: fred whitridge	Read Replies (1) \| Respond to of 8393

Battery Accountants: Well golly! This is mysterious. The accounting i described previously was for a "primary" issuance of shares from Ovonic where the cash would have stayed within ovonic and presto, chango no income statement effect to either Ovonic or ECD. if indeed ECD is selling shares that it owns in Ovonic(a "secondary issuance"), i presume one of the very recent posts that this is a gain is correct. I shall look over the previous sales of stock and see how those were booked. Either way it would be nice of ECD to tell us now and not wait until 45 days after the next quarter end. Perhaps they'll let a little light under the bushel and let us unworthy shareholders know at the annual meeting. This is not particularly difficult to decipher once we have the information. And yes, it seems darned important to know if we're going to have a profitable quarter. Why then we could even start mulling over what it would take to have additional profitable quarters.... One private quizzling, complaining of a senior moment, wants to know whether the non-stock-purchase portion of the transaction was for a license or prepaid royalties. I think it is both. Mike Latas? Retiarius? I think previous deals often had the fee expressed as part license and part prepaid royalties. Certainly the balance sheet reads this way: one sees a decrease in prepaid royalties from period to period.