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To: Lazarus Long who wrote (36348)	1/16/1999 12:45:00 PM
From: risk-averse	Read Replies (1) \| Respond to of 50264

still, if teltek did not think those shares will be higher than 1.5 in the future, i don't think they would have agreed to the deal. Whatever terms we want to use to describe the price at 1.5 (cheap, fair,etc...) the key issue to me is that teltek believes the share price will appreciate higher than 1.5 in the future. Knowing that Teltek has the licenses in china and could have done the deal with any other IP telephony company, I would think that teltek would not have agreed to the share price if it does not think it can make money off the share price appreciation.