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To: Zeev Hed who wrote (10078)	11/7/1998 2:59:00 PM
From: Edward F.Fokken	Respond to of 13091

"Let us hope it is not a dream." Hope,is all we have been running on for the longest. No since in stopping now... Many thanks for your input Zeez, good to hear from you again. Peace, Ed

To: Zeev Hed who wrote (10078)	11/7/1998 5:07:00 PM
From: Martin Savitska	Read Replies (2) \| Respond to of 13091

Zeev, Thanks for your input and take on the convertibles. Correct me if I'm wrong but a million shares converted at 1/8 would be 8 to 1, or 8 MM shares out of the conversion. Which would be added to the current 5.7 MM shares making 13.7 MM shares TTL. Plus your additional 4 MM would yield about 18 MM shares. That is all based on a strike price of $.12. I know there are different formulas for arriving at a conversion price and we don't know right now what this one is going to be. In your experience, looking at the staggered time frame and increased share amounts per installment of converts, would it not be reasonable to expect some type of 5 to 10 day averaging to come up with a convert price? Sorry about the long sentence. I believe this to be pretty common in conversions. Taking that scenario, Bill might have been trying to stack the conversions in the current shareholders favor. I would think the first 100,000 shares went around 1/8th, making another 800,000 shares common in the float. The next installment is not till Dec. then Jan., Mar., and April. It would be reasonable to expect a higher share price for the subsequent converts meaning less shares TTL converted to common. If this is the case, it would be nice to see a price around a dollar or higher (wishful thinking). And if the Turks come through there would be no reason not to expect a dollar or more per share by March or April. What do you think Zeev or anyone. Regards, Marty