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To: FZupan who wrote (10227)	5/11/1999 11:57:00 AM
From: The Barracuda™	Read Replies (2) \| Respond to of 13776

They are saying July is when the merger will take place. The share holders still have to vote on it. I think to merger will pass because if it doesn't NGLD will get creamed. Right now there are 25MM shares out so a 12-1>2.1MM shares. Business web currently has 7MM shares, so the total will be 9.1MM post merger and Rev split. But they are doing a financing at prices between $3.4 and $5 post split. After the financing there will be about 12MM shares out. I really don't under stand that part of the transaction. I suspect that the insiders are unloading their shares now at 50 c and using the funds to buy the post split placement. They get a tax deduction for selling at shares of NGLD at 50c (loss) but they then buy shares of Business Web at a cheaper price. Since the companies haven't yet merged their is no "wash rule" problems. Pretty slick. Business web wanted to do a financing at $17.00 but the investment firm wouldn't let them. IBK is the canadian firm that is organizing the placement and the Canadians look at the US tech companies and just shake their heads. I do too. I haven't got a clue as to what tech co's are worth, I'm just along for the ride which I hope isn't too bumpy.