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Technology Stocks : Aladdin Knowledge Systems (ALDN) -- Ignore unavailable to you. Want to Upgrade?

To: jsabelko who wrote (305)	3/18/1999 11:10:00 PM
From: jsabelko	Read Replies (2) \| Respond to of 351

Big mistake in previous post: I made a big mistake in the previous post. I accidentally was looking at aldn historical chart and found $10 a share in July 98 and somehow confused it with wavx. I can't find a wavx historical chart, but based on the last 10K looks like it was trading near 2 so then the 2.5 million for 1 million makes sense as the market price for the "7% of class A" warrants. This then indicates that aldn likely still holds the entire warrant for 2.1 million share at 1.70 plus the 1.5 million shares it already owns for a total of 3.8 million shares which is then almost right at the 14% indicated by Harry. Whether they have actually exercised these warrants or not yet is essentially meaningless due to the low exercise price as long as they don't let them expire in July. Sorry about the confusion. Again hopefully aldn will respond to me or someone else can validate these numbers. joby

To: jsabelko who wrote (305)	3/19/1999 12:59:00 PM
From: Harry J.	Read Replies (1) \| Respond to of 351

Joby - No problem. Here's my non-scientific method for answering the question: "How much WAVX does ALDN own?" After the SEC's Edgar decided to take too long to load, I went to cnnfn.com then asked for a quote for WAVX. When the page came up, I clicked on the "search cnnfn" button which gave me three recent "stories" about WAVX, the third of which was the "Market Guide" entry in my #303 above. There was a three month chart on that page as well that showed a proportionally large jump in WAVX trading as the price increased. I didn't go to the WAVX or ALDN 10Qs or 10Ks for #303 but did quote and cite the Market Guide "Equity:" entry (although I did play with the paragraphing a little). I also used the estimated net increase in value of a 14% stake in WAVX from Jan 1, 1999 to, what, March 16th. This, of course, presumed that the percent held by ALDN did not change from Jan 1 and March 16th. It does not matter what ALDN's cost basis is, however - its net value still went from, what, about $3 a share to $14 a share. If the number of WAVX shares outstanding remained relatively constant at 26.6 million and if ALDN owned 14% of them (or their equivalent), the net appreciation of ALDN's stake is $14 - $3 = $11 times 14% of 26.6 million, sort of. I'm not averse to harder numbers or to correction and refinement (and even replacement) of my yellow-pad approach to financial analysis. Indeed, I welcome it. As I said in the next (#304) post, I don't do this for a living. For #304, however, I did go to ALDN's webpage and used the financials posted there. Regards, Harry