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Technology Stocks : SYQUEST
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To: Troy Shaw who wrote (6878)7/15/1998 10:35:00 PM
From: Dale Stempson   of 7685
 
RE: >>> Just how many shares have converted from preferred to common since the last S-3? <<<

Troy, I'm not certain if any of the preferred were converted. The 24 million share difference between the current issued and outstanding of 127 million and the previously estimated 103 million, could simply be the result of 12 million incentive shares added to 12 million common shares converted from warrants.

In any case, there are now 127 million shares issued and outstanding and a minimum of 192 million shares accounted for (probably closer to 200 million).

It also appears there are approximately 28 million warrants remaining to convert. SyQuest longs better hope the EdHeads don't use up all of this last resource prior to turning profitable. SyQuest and its management have been living on borrowed time (and money) for the past couple years now and IMO, if the SparQ doesn't turn things around by the end of this year, the free dilution ride will be over and SYQT might end up trading on the pinks.

Regards - Dale
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