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Mr Sensitivity

01/17/05 10:55 AM

#617 RE: W3Research #616

Why file a new 80 page document with SEC if there was a case of cold feet.
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snow

01/17/05 11:23 AM

#618 RE: W3Research #616

Basically I think you are right in the sense that it may have led to delays in dealings with the SEC. But I don't think management at CDED has so cold feet that there is any question of reversing the merger at the present point of time. One possibility is that Mr Kerry may get fewer shares than assumed because CDED will hardly continue entering into unprofitable deals. This may possibly reduce revenues so that Mr Kelly will not get as many shares as the maximum that has been agreed on.