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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: steve who wrote (12437)	2/10/1999 11:35:00 PM
From: David	Read Replies (1) \| Respond to of 26039

Are you suggesting that someone from IDT is going to try to manipulate the stock downward to save some thousands of dollars in option basis? (A) They don't have that kind of market strength and (B) what kind of start does that get you off to with your new employer if you do? I'll recheck my notes and the document tomorrow. The effective date of the merger may be deemed to have occurred in November. Somewhere deep in there it actually gives an option value, I think. By the way, I may have posted twice here earlier due to some Yahoo-like screwup at SI.

To: steve who wrote (12437)	2/11/1999 1:48:00 PM
From: David	Read Replies (1) \| Respond to of 26039

Re: Options price for new IDT/IDX employees . . . Steve, you are right and I am wrong. The option price of the four 100,000 option blocks are not yet fixed. Here's the description of "Closing Date" in the S-4A: "The closing of the merger (the "Closing") will occur at the offices of Heller Ehrman White & McAuliffe on a date and time as soon as practicable after all the conditions to the parties obligations to consummate the merger have been satisfied or waived (the "Closing Date"). The Certificate of Merger will be filed on the Closing Date. The Closing and Effective Time are anticipated to be on or about , 1999." What I had in mind were pre-existing options and warrants granted by IDT that would convert to IDX options and warrants as part of the 5,050,000 new shares. These options will be at $0.26 and the warrants at $8.07. By the way -- IDT will be a wholly owned subsidiary of IDX, run by a Board of Fowler, Scullion, Pieper and Khidetel. Pieper probably should get on the IDX Board . . . maybe after a vote at the next shareholder's meeting.