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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

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Aug 24 5:00 PM EST

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To: Craig Stevenson who wrote (25955)	2/13/2000 9:27:00 AM
From: Eleder2020	Read Replies (2) of 29386

Craig -good to see you back here-however some of your statements leave me to believe you never quite understood what you were holding for 3 years before you sold the seats way to cheap and here you were the teacher. The SUN deal was a good deal all around - Gave Ancor instant credibility tied to a Revenue stream that at least can set a bar for Ancor and all for 5% dilution -We saw 100% dilution for $8million in the Reg D. I can live with 5% dilution for $100M. Added additional OEM's in Hitachi, MTIC (which has been ramping nicely-watch them next quarter). The switch market will be in the Billions - I guess you didn't believe some of your own comments about where the market was going is all I can figure as why you would sell at $3-$4. >>>2. It is a concern that other customers will want a similar, sweetheart deal, and if they don't get it, will go elsewhere.<<< The sweetheart deals will now come at a very expensive price like $43 a share as of today- Not an attractive proposition except for Gorillas like Intel who happened to think it was a good deal at $52. I don't think this type deal is quite so attractive at these prices for many or others as they have been made at market prices at time of deal. 3. For me the biggest reason I don't like the warrants is this. If Ancor's product is so superior, why do they have to provide any incentive AT ALL! Why can't the technology and the company STAND ON ITS OWN! This has been a burr under my saddle ever since the days of the floorless convertible that ballooned the number of shares. Ancor should concentrate on selling switches, not stock. Ancor sold stock to Intel at $52 -looks like a good deal from my side here - Ancor gets seed money to work for the Infiniband community which is getting closer to being realized everyday. (Geez-Intel has shown some muscle in this one)- Craig -you buy that Brocade passed on Intel and then turned around and decided they would play in Infiniband after all; this time without the Intel endorsement. By the way the company that Cisco bought for $220 million was Granite which had $0 Revenues and the purchase was 3 years ago- I would argue back then that Ancor at a minimum was worth the $220 mil. A billion $'s was never out of the question in my mind going forward -that's why I invested in the first place in the speculative stock from Minnetonka. Sometimes you have to see the forest through the trees and for that I'm sorry you missed out on Ancor as I really learned alot from you and in part sitting here happily because of the knowledge you threw our way. So even though you are now short <G>....... I'm glad to see you out here. Now I begin to understand why my University professors were always driving two -tone VW's and the former students coming back to visit had Porshes (just kidding Craig) My Best- Ed

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