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Technology Stocks : IATV-ACTV Digital Convergence Software-HyperTV -- Ignore unavailable to you. Want to Upgrade?

To: Champolion who wrote (2433)	4/22/1999 9:49:00 AM
From: Jerry Rockwell	Read Replies (1) \| Respond to of 13157

S-3 Amend 4 for financing ACTV operations ?? I read the form but it seems to me the amendment says "ACTV will not receive any proceeds" but the proceeds "will be for the account of the holder" . These forms are long but did I miss what you see. This seems to be for the exercise of the options by Westergard and others. Possible total of 9.8 million shares dilution. This all from the Apr. 6, 99 S-3 Amend 4 you pointed to. Regards, Jerry (IATV since 1992. Sometimes painfully)

To: Champolion who wrote (2433)	4/22/1999 11:17:00 AM
From: SCOTT HEIMAN	Respond to of 13157

To All: Please read the S-3 before you draw any half-baked conclusions. ACTV is not the "selling Shareholder". In fact, all a S-3 does is register shares for future POSSIBLE sale. This is not an event designed to raise cash for ACTV. There is way to much hand-ringing over this filing. ACTV received the money for the bulk of these shares when they sold the Preferred Stock over a year ago. The market is not suprised or concerned over these shares. KNOWLEDGABLE INVESTORS KNEW ABOUT THEM SINCE THE PREFERRED OFFERING. Also, read the fine print: These newly registered common shares may have already been sold! They can be used to satisfy previously executed short sales. This is a non-event for us. Long and Strong, Scott Heiman