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To: Steelguy who wrote (8923)	2/5/1999 11:10:00 PM
From: NTT	Read Replies (2) \| Respond to of 37507

My understanding is that they are exercising the warrants, and not necessarily moving out any of their clients shares. If this is the case, any price over $1.75 would be profitable for Yorkton. Obviously they can't dump it all in one day, so they spread this out over several months time. I for one am glad that you're asking these questions Steelguy. I like to see others bring up other sides of a situation, because more often than not, most of us have tunnel vision.

To: Steelguy who wrote (8923)	2/5/1999 11:11:00 PM
From: Sili Investor	Read Replies (1) \| Respond to of 37507

>>>I wonder though again, if the positions that they had for some of their large clients were intact until this week....would you as a brokerage house advise these clients to move so much paper out BEFORE an imminent Nasdaq listing????<<< Given the way the NASDAQ has reacted over the past few days, I would think a number of institutions would like to lock in profits when they can. As well, most of the selling that Yorkton did took place before January, allowing the institutions to take their money and report at least some level of profitability. Selling in January may have been non-institutional. Yorkton really makes it money once the shares are sold. Their strategy could be to convince their clients to lock in profits, and buy it back if it goes lower. Great premiums on moving shares in and out! Kind of self fulfilling prophecy for them as well.... sell now and the price will not rise, too much selling pressure. And then they go back to their clients and say, "See, can't get to NASDAQ when the price is this low. Just wait, it'll go lower, buy it back then." I guess if we really did an analysis on how many have they sold, at what price, was the price rising or falling when they sold, did they sell many into the large $9.90 rally, etc. I guess it's all speculation. The only thing we know for sure, they and their clients held 20M or so warrants, thats alot to get rid of while still getting a good price for them, and we haven't seen them selling that many in total anyway.