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To: Mason Barge who wrote (740)2/5/1999 10:38:00 AM
From: Jeffrey S. Mitchell  Read Replies (1) | Respond to of 770
 
Mason, everything depends on ALYD's price the day the deal is closed. The higher ALYD, the more chance options will exercised. The more options that are exercised, the more shares outstanding and thus the less each share is worth. You'd really have to draw up a spreadsheet with all the options and their exercise price on one side and all the various prices of ALYD on the other, to see how many shares would be out and what they'd be worth.

The only thing that puzzles me about that options section I posted is that as of 12/31/97 it shows 376,223 shares in options out there. I see they do have 600,000 shares reserved for their employee stock option plan, so I suppose they could use all of that. Why not call the company? (BTW, did anyone listen to the CC to confirm it was 5.8M and not 5.4M after conversion?)

- Jeff